Mapping Out SocialFi Ecosystem

SocialFi (Social Finance) is a rapidly emerging crypto sector that combines Social Media and Decentralized Finance aspects. Censorship and content monetization by middlemen-controlled platforms have been gravitating topics that have led many developers to utilize blockchain technology to bring more freedom for social expression and hand content creators more control in regards to monetizing their work.

However, this sector innovates further and provides other features currently not present in the Web2 social media models. Some crypto projects solely focus on allowing users to create a Web3 identity comprised of their on-chain activity, crypto portfolio, and interests. Other projects focus on incorporating GameFi features on social networks, where curating, reviewing, and contributing in a meaningful way to discussions yields income to the user. In total, The Block Pro Research categorized the current SocialFi ecosystem as follows: