Farcaster

SOCIALFI IS TRASH — AND THAT'S HARD TO ARGUE WITH

The first issue arises when we try to figure out who these projects are actually for. Teenagers scrolling through X and Instagram? Kids? Or maybe elderly people in WhatsApp groups? No one really knows.

The biggest problem is that these projects simply aren’t needed. Existing messengers have:

📍a super low entry barrier (you don’t even need to know what blockchain is),
📍and strong network effects.

A regular user has zero incentive to switch from Telegram, WhatsApp, Discord, or Facebook to some clunky, buggy crypto-based platform.

In reality, all these crypto messengers survive only as long as airdrop hunters keep them alive. Once the tokens are distributed, the hype dies — and so does the project. Founding teams know this and often dump their tokens as soon as possible.

 These projects are only worth using to farm airdrops, and even then — only with minimal effort.