- The number of daily active users on Fantasy Top and Friendtech keeps declining.
Social-Fi has become a favorite story among cryptocurrency fans since Friendtech’s launch last year. They believe a Web3-native social media software will take on established players like Twitter.
But over the past month, activity on the category leaders has sharply decreased, and many are dismissing Social-Fi as a failure and citing BitClout as evidence.
In 2021, BitClout, a social-fi platform based on the DeSo Network, was introduced. Prominent backers including Winklevoss Capital and Reddit founder Alexis Ohanian helped the team raise $200 million. BitClout has essentially become irrelevant, despite having a substantial initial user base and plenty of resources.
Just 218 daily active users (DAU) as of May 30 represents all-time lows for Friend Tech, numbers not seen since February’s low of 212 DAU.
A trading card game (TCG) on Blast called Fantasy Top is likewise losing players; as of May 30, there were only 1200 DAU, down from 15,000 on May 1, the day it launched.
Many fans of Social-Fi have remained unwavering in their beliefs in spite of the negative numbers.
In response to the discussion, ardent Fantasy Top user Serpin Taxt posted, “It’s unfair to say that pack sales are down 99% due to early launch enthusiasm that was a flash in the pan type and may have been slightly inflated by outside incentives (Blast gold).”
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
