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How Can Web3 Social Outgrow Speculation?

blockchaincapital.com · 1,598 words · saved by 1 readers

Web3 social has a retention issue. Whenever a new social app comes to market, users have to make a decision about whether they’re going to invest their time and energy into building connections on it. They do a mental calculation of whether they think they will get value from it. And if they don’t start seeing value soon enough, they abandon the app. This issue isn’t unique to Web3 social, but crypto might have a bigger hill to climb. Many Web3 social projects have tried to onboard users by using speculation as a core driver of adoption on their platforms. But that doesn’t always lend itself well to retention. Friend.tech, for example, has generated over $55M in total fees from just 869K traders since their launch in August. But since then, engagement on friend.tech has dropped off (still, it’s not right to count them out just yet — v2 coming soon) The big question is, how does Web3 social grow beyond speculation? How does a Web3 social platform draw people in with other motives and re

How Can Web3 Social Outgrow Speculation? How Can Web3 Social Outgrow Speculation? Anay Simunovic · co-authored with · No items found. 3.4.2024 · Research #blockchaincap Web3 social has a retention issue. Whenever a new social app comes to market, users have to make a decision about whether they’re going to invest their time and energy into building connections on it. They do a mental calculation of whether they think they will get value from it. And if they don’t start seeing value soon enough, they abandon the app. This issue isn’t unique to Web3 social , but crypto might have a bigger hill t

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