Kyle McCollom pfp
Kyle McCollom
@kyle
Another way to define socialfi: is the financial component (followers trading social accounts) built into the protocol itself? Yes: Friendtech, Scoop, BitClout No: Farcaster, Lens Because Warpcast is not a protocol and has no inherent "buying/selling of social accounts" in the UI, it is not socialfi.
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tomu pfp
tomu
@tomu.eth
does socialfi limit itself to only speculating on accounts? for me, it includes what we're doing with zora, rodeo, moshicam, etc. if an interaction with media triggers a financial transaction, that's socialfi
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Kyle McCollom pfp
Kyle McCollom
@kyle
Everything will be socialfi and then the term is unhelpful. Are all those you mentioned also DeFi? https://warpcast.com/kyle/0x7d6df2f6
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tomu pfp
tomu
@tomu.eth
no term makes sense outside of our bubble. i don't like the term SocialFi tbh. for example: Zora is SocialFi but also incorporated liquid markets, so that's DeFi. Should we call it DeSocialFi? those that spend time thinking about terms just waste their time imo, we even had to took out NFT in order to onboard users and tell they are digital media. No one will understand a scenecoin, layer 2, smart wallets etc... we can have multiple terms for native users, but for the avg ones, we must simplify it
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