SocialFi

Interesting what's happening with memecoins around social finance

Orb has $BONSAI

Farcaster has $DEGEN

Both have the same core idea but execute differently

What's good about each strategy?

Building @metasuyo & @cryptoamigos
Decentralized Storytelling x Learning DAOs | Web3 for Impact

I am not sure that so many SoFI memecoins are a good thing. It leads to fragmentation and concentration. Very few will actually be successful. We are very early, it will be interesting to see if I am right or not.

Web3 citizen, DeFi Professional, Investor and Blockchain enthusiast.

I think it's useful to see lots of experiments 

These are not mere meme coins for the sake of it

They bring new user behaviours integrated to how the dapps work

That's worth their short or long lives I believe

I’m new to the crypto community (one of the rare ones) but I like the idea of sofi as it reminds me of talks of a credit system before bitcoin was created that would improve the velocity of money by separating what we use as a store of wealth vs. a currency exchanged for goods and services.

Yes, I agree that experimentation is great and also fun to watch (and be part of). I also agree that those incentives can drive user behaviors. But then you have to add psychology when the markets collapse. Let's see how this goes.