Vitalik Buterin, one of the creators of the #Ethereum blockchain, shared his thoughts on the significant drop in the indicators of the socialFi-project friend.tech.
According to him, one of the possible factors for this drop could be the prevalence of financial speculation.
"It's bad #gamefi to use financial speculation instead of entertainment. blockchain #games should be fun as games."
"This opinion is also true for the sphere of crypto-social interactions," he emphasised.
People seem to widely believe that FT's bonding curve was core to its flameout. What did people learn from it, and how are they re-designing bonding curves based on this?
Any recommended reading / examples? https://t.co/c79HIt5Zrh — Haseeb ＞|＜ (@hosseeb) February 5, 2024
Buterin noted that Lens Protocol and Farcaster serve as contrasting examples. He expressed his agreement with Dragonfly Capital managing partner Hasib Qureshi's views on Lens Protocol and Farcaster.
"Bad gamefi is using financial speculation as a substitute for fun. Blockchain games need to be fun as games" - approx quote I've said many times
I believe a similar thing for crypto social.
Registering a prediction: farcaster and lens will NOT be deserted in 4 months, or 1 yr. — vitalik.eth (@VitalikButerin) February 5, 2024
However, he cautioned against completely abandoning the concept of a SocialFi project, which is closely intertwined with financial speculation.
The drop in activity on friend.tech has reached 95% from its peak in September 2023. Experts attribute this decline, in particular, to the inefficient work of the team.
