When will the Web3 social craze end?

The popularity of the current FriendTech (@friendtech) social project seems to have waned. Growth is slow, TVL (Total Value Locked) remains at a certain level, some big Vs have begun to sell their tokens, and some disputes have also emerged. Market sentiment is gradually calming down. However, the future development of the project still depends on official adjustments and feature updates. The design of the token economic model will be the key to whether the project can maintain stability and attract users.

FriendTech is considered an excellent social project, but it still has some shortcomings. High transaction taxes and robot issues have caused most of the profits to flow to project parties and scientists, making many retail investors unwilling to participate in depth. In addition, there is still a lot of room for improvement in functionality, such as the need for more social interaction methods that are not limited to text and picture communication. In addition, cost issues also need to be considered. Excessive cost of Fi may lead to the loss of users.

Recent FT copycats and other social projects: Recently, some projects have emerged that imitate FriendTech, some of which have added features such as tweeting and rewarding, making social activities more diverse. However, these copycat projects may hardly pose a big threat to FriendTech. At the same time, other projects in the social field are also developing, and some tool-based and interesting gameplay projects are favored by the market.

Future views on Web3 social networking:

Both SocialFi and GameFi can be seen as Play-to-Earn (P2E) models, but their key difference is that SocialFi can provide traffic and influence in addition to token rewards, which gives SocialFi a higher ceiling and more lasting vitality.

It is crucial to focus on product development and continuously meet the needs of Web3 users, which requires long-term polishing and improvement.
Don’t try to replace traditional social media, but embrace them, attract Web2 users through open platforms and API interfaces, and create more ways to play.

In short, Web3 social is a field full of opportunities and challenges. It continues to evolve and innovate and will continue to attract developers and users, but successful projects need to constantly adapt and improve to meet user needs and expectations.