{"id":162816,"date":"2024-03-07T16:23:07","date_gmt":"2024-03-07T16:23:07","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=162816"},"modified":"2024-03-07T16:23:10","modified_gmt":"2024-03-07T16:23:10","slug":"socialfi-slumps-farcaster-sheds-60-of-users","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/socialfi-slumps-farcaster-sheds-60-of-users\/","title":{"rendered":"SocialFi Slumps: Farcaster Sheds 60% of Users in Just One Month"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TL;DR<\/span><\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Farcaster loses 60% of its users in one month.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Friend.tech is experiencing a significant decline in activity.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Lens Protocol shows notable growth and success in monetization.<\/span><\/span><\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">In the world of SocialFi<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> apps, <\/span><span style=\"vertical-align: inherit\">the landscape <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">is changing rapidly<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, with some giants <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">losing ground<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> while others find <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">innovative ways to stay relevant.<\/span><\/span><\/strong><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">One of the most notable cases is that of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Farcaster,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> whose activity <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">has experienced a drastic drop.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Within a month, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">the number of daily active users plummeted by 60%<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, going from more than <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">40,000 to just 16,000.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This decline is surprising, especially amid a <\/span><\/span><a href=\"https:\/\/crypto-economy.com\/cryptocurrencies-from-a-to-d\/\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">cryptocurrency<\/span><\/span><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> bull market and when <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">SocialFi apps are expected to be a growing trend<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The introduction of new features such as <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Frames<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> initially generated excitement, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">but this seems to have quickly faded.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Another case worth mentioning is that of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Friend.tech,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> which was once <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">a rising star<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> in the world of <strong>SocialFi apps<\/strong><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">After a successful launch, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">its activity has decreased significantly.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Although there was <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">a brief uptick<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> when they announced <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">a community-owned points system<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, it was not enough to revitalize the platform.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Now, its use <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">has declined considerably,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and it appears to have lost the momentum it once had.<\/span><\/span><\/p>\n<h2><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">However, it&#8217;s not all bad news in the world of SocialFi apps<\/span><\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Lens Protocol <\/span><\/span><\/strong> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">has <\/span><\/span><a href=\"https:\/\/dune.com\/pixelhack\/farcaster\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">managed<\/span><\/span><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> to stay above water<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, even after going permissionless.<\/span><\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-80206\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/03\/socc.jpg\" alt=\"Decline in SocialFi: Farcaster Loses 60% of its Users in Just One Month\" width=\"825\" height=\"300\" \/><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Its activity <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">has increased significantly<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, almost <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">tripling<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> in a single day after this change.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Furthermore, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">it has achieved impressive monetization of the protocol,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> suggesting that it is finding effective ways to stay <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">relevant and attractive to users.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">SocialFi app landscape is dynamic and constantly changing.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">While some platforms <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">struggle to stay relevant<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, others find <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">innovative ways to stay afloat.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This underscores the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">competitive<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">evolving<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> nature of this space, where the ability to quickly adapt to user needs and wants <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">is crucial to long-term success.<\/span><\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Farcaster loses 60% of its users in one month. Friend.tech is experiencing a significant decline in activity. Lens Protocol shows notable growth and success in monetization. In the world of SocialFi apps, the landscape is changing rapidly, with some giants losing ground while others find innovative ways to stay relevant.<\/p>\n","protected":false},"author":33,"featured_media":162818,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,74],"tags":[4620,5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/162816"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=162816"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/162816\/revisions"}],"predecessor-version":[{"id":162817,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/162816\/revisions\/162817"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/162818"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=162816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=162816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=162816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}