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0xLuo
@0xluo.eth
This article is sparking heated discussions in the Chinese community today. It critiques the limitations of Web3 Social and monetization strategies. worth a read. The article differentiates between social interaction (micro-level communication) and community (a complex entity with shared goals and mutual support). It argues that Web3 Social monetization models, like X to Earn, often fail because they shift user motivation from the product to incentives, leading to diminished engagement when incentives wane. Instead, it recommends focusing on building vibrant community products or exploring innovative middleware for better integration with existing social platforms. Farcaster is cited as a successful example, avoiding the SocialFi model and fostering a genuine crypto community that naturally led to memecoins like Degen. While this model was popular, communities can be fragile during downturns. This serves as a test, and when the market recovers, focusing on crypto communities may still be more stable.
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Juli 🎩↑
@juli
Thanks for sharing 420 $degen It’s always been fascinating to hear/see crypto users from all over the world connect over tokens, sometimes contribute while being in a completely different sub community with different culture. At times, the communities try to connect better and then the different local communities drift apart again. This reminded me of my time at NEM: strong communities in SEA, Japan, Australia, some in Europe and smaller ones in china, south and North America formed, all got their own budgets and had different growth approaches which led to quite some clashes, good & bad collabs and “varied” outcomes. After all, some community/foundation people went to other crypto projects & others just disappeared but prob a few are here on farcaster too now 😄
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0xLuo
@0xluo.eth
Yes, there are token-based crypto communities around the world, but most of them have drifted apart over time because tokens can't keep rising indefinitely. Introducing external revenue is essential for sustaining communities in the long run. The same applies to social products based on crypto communities.
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