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Buterin assessed the drop in activity on the Friend.tech Web3 platform

Web3: Buterin assessed the drop in activity on the Friend.tech Web3 platform

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.

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.

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.

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