SocialFi Landscape Early Of 2024: Potential Opportunity For Early Participants
The rise of SocialFi is attributed to the recognition that the success of decentralized finance is not solely dependent on financial mechanisms but also on the strength of community participation. In contrast to conventional DeFi platforms, SocialFi platforms aim to create a more inclusive and interconnected environment, leveraging the power of social networks to drive user adoption and participation. Today, let’s learn about SocialFi landscape with Coincu in the near future.
Read more: Top 15 Notable SocialFi Crypto Projects In 2024
What is SocialFi?
Marrying Social Media and Decentralized Finance
The convergence of social media and decentralized finance (DeFi) has given rise to SocialFi, a revolutionary concept empowering users with unprecedented control over their data, freedom of expression, and the ability to monetize their social interactions.
Empowering Users in the Web3 Era
SocialFi, an abbreviation for Social Finance, is a DeFi project that embraces the Web3 approach, offering an interactive platform where users can not only connect but also assert control over their data. Unlike traditional social media giants such as X (formerly Twitter), Facebook, and Instagram, SocialFi challenges the status quo by providing users with ownership of their engagements.
The Innovation of Traditional Social Media Giants
At its core, SocialFi operates on blockchain technology, allowing users to monetize their interactions securely. This innovative platform is structured as decentralized autonomous organizations (DAOs), strategically designed to thwart centralized censorship decisions that often plague mainstream social media.
Monetizing Interactions
Content creators, influencers, and participants form the backbone of SocialFi Crypto applications, seeking greater autonomy in managing their data, freedom of speech, and the opportunity to monetize their social media following and engagement. The monetization process typically involves cryptocurrencies, with identity management and digital ownership facilitated through nonfungible tokens (NFTs).
Interactive Hub for Influencers
One of SocialFi’s primary goals is to establish an accessible and interactive hub where influencers and content creators can seamlessly manage their interactions while generating income based on the value of their shared content.
This Web3 innovation not only facilitates monetization but also fosters a social-media-like community that mitigates censorship, enabling individuals to learn, collaborate, and interact while capitalizing on their expertise.
Read more: Top 5 SocialFi Projects You Should Know In 2024
Exploring the SocialFi Landscape
Overview of SocialFi Market
SocialFi landscape: diverse dimensions
The SocialFi market is a vibrant ecosystem, showcasing a myriad of projects, each with its own unique objectives, target demographics, and promising opportunities. To navigate this expansive landscape, we can discern five distinct segments that underscore the multifaceted nature and untapped potential within this dynamic market.
- Decoding Diversity: A Spectrum of SocialFi Projects
- Objective Variance: Defining Project Goals
- Demographics at the Core: Tailoring Platforms to Users
- Prospects and Challenges: Navigating the Road Ahead
- Unlocking Opportunities: The Future of SocialFi
Within the SocialFi realm, diversity reigns supreme. Projects span a wide spectrum, catering to different user needs and preferences. From decentralized social networks to blockchain-based content platforms, the market offers a plethora of options, each with its own set of goals and aspirations.
In this diverse ecosystem, project objectives serve as guiding beacons. Some SocialFi endeavors focus on fostering community engagement, aiming to create decentralized spaces where users govern the platform.
Others may prioritize content creation, leveraging blockchain technology to reward creators and consumers alike. Understanding these varied goals is crucial for investors and enthusiasts seeking alignment with their values.
Target demographics play a pivotal role in shaping the identity of SocialFi projects. Some platforms may cater to niche communities with specific interests, while others cast a wider net to attract a broader user base. Recognizing the nuanced approach each project takes toward its audience sheds light on the potential for widespread adoption and sustained growth.
As the SocialFi market evolves, it brings forth a tapestry of prospects and challenges. Identifying these factors is essential for stakeholders looking to navigate the road ahead. Opportunities abound for projects that can adapt to emerging trends and technological advancements, while challenges may arise from regulatory uncertainties and market saturation.
In this ever-changing landscape, the future of SocialFi holds immense promise. The intersection of decentralized technologies and social connectivity opens doors to innovative solutions and groundbreaking experiences. As projects continue to mature and evolve, the SocialFi market is poised for sustained growth, offering a dynamic playground for both creators and users alike.
Key SocialFi markets
Here, we delve into key SocialFi markets, shedding light on their diverse objectives and contributions.
- FitFi: Enhancing Well-Being Through Technology 1
- CommunicationFi: Integrating Cutting-Edge Solutions
- MetaFi: Crafting Immersive Virtual Worlds
- DonationFi: Mobilizing Financial Support for Altruistic Causes
- InfluenceFi: Monetizing Social Capital for Prof-Members
FitFi initiatives are at the forefront, championing a well-balanced lifestyle through technology. Applications dedicated to fitness, sports, and activity monitoring are designed to collect and analyze relevant data.
These projects not only enhance our understanding of physical well-being but also encourage positive lifestyle choices. FitFi aims to leverage technology to promote healthier living and create a community focused on well-being.
CommunicationFi initiatives are driving the integration of technological advancements in communication. These endeavors are committed to deploying cutting-edge solutions that redefine the way we connect and interact.
From innovative messaging platforms to advanced collaboration tools, CommunicationFi is at the forefront of transforming digital communication experiences.
MetaFi ventures into the realm of virtual reality, focusing on implementing communication and diverse user interactions within specially crafted virtual worlds.
The goal is to cultivate immersive and dynamic experiences that transcend traditional boundaries. MetaFi is poised to reshape how individuals engage with digital environments, offering a new dimension to social interactions.
DonationFi initiatives encompass extensive fundraising efforts, ranging from charitable endeavors to solicitation of donations. These projects aim to mobilize substantial financial support on a broad scale, emphasizing altruistic causes, philanthropy, and various forms of financial backing.
DonationFi plays a crucial role in channeling resources toward impactful initiatives that make a positive difference in society.
InfluenceFi is tailored for individuals possessing skills, knowledge, or social capital that can be monetized. The unique “Seller-Receiver” model is introduced, where the seller owns social capital, and the buyer, acting as the reader, facilitates the monetization process.
This distinctive characteristic defines the InfluenceFi segment, creating opportunities for prof-members to monetize their expertise and contribute to a thriving ecosystem.
SocialFi Landscape Moving Forward: Reshaping the Social Media Landscape
Combining DeFi and Social Media
SocialFi has seamlessly merged the realms of social media and DeFi, heralding a new era for Web 3.0 platforms. This innovative approach aims to redefine the way users interact with and manage their social media profiles and user-generated content.
At its core, SocialFi prioritizes content creators and influencers, empowering them with unprecedented control over their personal data, freedom of speech, and access to advanced monetization tools.
Core projects were born
Lens Protocol, the first in our spotlight, is spearheading a revolution in social reputation dynamics. This project is set to empower users with a unified social graph that transcends the boundaries of various applications.
Leveraging the security and transparency of blockchain technology, Lens Protocol ensures a seamless flow of content and data portability across diverse platforms. This novel approach aims to break down silos and create a more interconnected digital experience for users, fostering a sense of continuity and familiarity as they navigate through different applications.
Throughout the year 2023, the SocialFi landscape witnessed the rise of several projects, with Friend.tech leading the pack, capturing the attention of enthusiasts and industry observers alike. Friend.tech, a decentralized social media platform hosted on Coinbase’s layer-2 protocol Base, has achieved remarkable milestones since its inception in August 2023.
Addressing initial concerns about its revenue model, the platform defied expectations by generating over $20 million in revenue as of October 10, supported by a substantial 10.75 million cumulative transactions.
Simultaneously, the Decentralized Social Media (DeSo) application Stars Arena made significant progress, contributing to a surge in activity on Avalanche’s C-Chain network. This increased network engagement had a effect, propelling the price of the network’s native AVAX token to an impressive 8% gain within a few days.
CyberConnect emerges as a decentralized social graph protocol anchored on the BNB Chain. This innovative platform allows users to create profiles with a focus on self-sovereignty and data ownership.
The emphasis on these principles ensures a secure and dynamic social networking experience. CyberConnect’s robust network effects are designed to facilitate seamless integration across various decentralized applications (dApps), promoting a fluid and interconnected user experience.
As the SocialFi movement gained momentum, its impact was particularly pronounced in East Asia and India. Projects such as XCAD Network, Avive Profile NFTs, and Post.tech Profile experienced substantial growth, amassing significant user bases. This surge in popularity underscores the growing relevance of decentralized social media on the global stage.
In essence, the fusion of social media and decentralized finance through SocialFi has unleashed a wave of transformative platforms, with 2023 witnessing remarkable achievements and accelerated interest. Therefore, it is expected that SocialFi landscape in 2024 will also follow the strong growth momentum to expand more projects.
SocialFi Landscape in 2024: InfluenceFi Will Have a New Breakthrough
Outstanding examples
Chirpley
SocialFi emerging trends are reshaping the dynamics of influencer marketing. One noteworthy trend is the rise of decentralized influencer aggregators, exemplified by platforms such as Chirpley. Tailored for small influencers, Chirpley utilizes cutting-edge technologies, including Artificial Intelligence, Machine Learning, and Big Data, to create a decentralized organization that prioritizes the interests of its users.
Chirpley’s distinctive feature lies in its ability to perform virtual mapping, allowing marketers to seamlessly initiate campaigns with thousands of small influencers simultaneously, all within a matter of minutes. This groundbreaking approach not only proves to be cost-effective but also time-efficient, offering a unique solution in the competitive influencer marketing SocialFi landscape.
League.Tech
In a parallel development, open marketplaces of social capital and professional skills are gaining traction, with League.Tech leading the way. This innovative platform introduces a structured access system, incorporating advanced trading features that enhance earning prospects for creators. By breaking down entry barriers, League.Tech aims to foster inclusivity and accessibility for all participants in the digital ecosystem.
What sets League.Tech apart is its commitment to empowering creators through key shorting, providing novel opportunities for financial success. This approach not only revolutionizes the traditional creator economy but also opens doors for creators to explore new avenues for prosperity.
Benefits of InfluenceFi
In recent times, the popularity of InfluenceFi has witnessed a remarkable surge, attributed to several factors that empower content creators and revolutionize the way they interact with their audience. This innovation has gained traction for reasons beyond its initial appeal as users increasingly recognize the unique advantages it offers.
One of the key driving forces behind InfluenceFi’s rise is the emphasis on user control over content sharing and monetization.
Unlike traditional platforms, InfluenceFi empowers users by granting them complete control, minimizing the risk of censorship, and safeguarding their accounts from deletion or deactivation. This newfound autonomy is proving to be a game-changer for content creators who value the ability to express themselves freely without the fear of arbitrary restrictions.
InfluenceFi opens the door to a myriad of applications tailored specifically for content creators, placing a strong emphasis on the protection of their work and privacy.
This development addresses longstanding concerns in the creative community, providing a supportive environment for individuals to thrive and share their talents without compromising on their intellectual property rights. The platform’s commitment to fostering a secure and innovative space for creators has significantly contributed to its increasing popularity.
In addition to content control and privacy, InfluenceFi leverages digital tokens to facilitate transactions and trades among its users. This not only provides a swift and efficient means of conducting financial transactions but also positions the platform as an environmentally friendly alternative.
The use of digital tokens reduces the carbon footprint associated with traditional financial transactions, aligning InfluenceFi with the growing global emphasis on sustainable and eco-friendly practices.
Figures From the SocialFi Landscape
InfluenceFi
Securing an impressive total investment of over $479 million, InfluenceFi has left a significant mark across 31 projects. The average deal size for this segment stands at a noteworthy $14.1 million, showcasing both the magnitude and breadth of the investments made.
MetaFI
MetaFI, although boasting the largest average deal size at $25.4 million, distinguishes itself by featuring the fewest projects in comparison to its counterparts. However, despite this, MetaFI has garnered a substantial total investment volume exceeding $152 million, underscoring the confidence investors have placed in its ventures.
CommunicationFI
CommunicationFI follows closely, having received a total investment surpassing $137 million. With an average deal size of $6.5 million, this segment has proven its appeal across more than 20 projects, emphasizing both diversity and investor confidence.
FitFI
FitFI, another notable player in the financial investment arena, recorded total investments exceeding $50 million. The segment features an average deal size of $4.6 million, spread across over 11 projects, illustrating a strategic allocation of funds in a variety of initiatives.
DonationFI
In the philanthropic realm, DonationFI has made a significant impact, accumulating total investments surpassing $44 million. Boasting an average deal size of $4 million, this segment has supported more than 10 projects, reflecting a commitment to fostering positive social change through financial contributions.
The above figures are referenced in Gotbit Insights’ article.
Conclusion
While SocialFi is still in its infancy, the growth of SocialFi is undeniable, presenting a novel approach to social networking that is redefining user experiences. As we stand at the threshold of this burgeoning industry, the future remains uncertain, and predicting the SocialFi landscape in 2024 proves to be a challenging task.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Author
Knowledge
SocialFi Landscape Early Of 2024: Potential Opportunity For Early Participants
The rise of SocialFi is attributed to the recognition that the success of decentralized finance is not solely dependent on financial mechanisms but also on the strength of community participation. In contrast to conventional DeFi platforms, SocialFi platforms aim to create a more inclusive and interconnected environment, leveraging the power of social networks to drive user adoption and participation. Today, let’s learn about SocialFi landscape with Coincu in the near future.
Read more: Top 15 Notable SocialFi Crypto Projects In 2024
What is SocialFi?
Marrying Social Media and Decentralized Finance
The convergence of social media and decentralized finance (DeFi) has given rise to SocialFi, a revolutionary concept empowering users with unprecedented control over their data, freedom of expression, and the ability to monetize their social interactions.
Empowering Users in the Web3 Era
SocialFi, an abbreviation for Social Finance, is a DeFi project that embraces the Web3 approach, offering an interactive platform where users can not only connect but also assert control over their data. Unlike traditional social media giants such as X (formerly Twitter), Facebook, and Instagram, SocialFi challenges the status quo by providing users with ownership of their engagements.
The Innovation of Traditional Social Media Giants
At its core, SocialFi operates on blockchain technology, allowing users to monetize their interactions securely. This innovative platform is structured as decentralized autonomous organizations (DAOs), strategically designed to thwart centralized censorship decisions that often plague mainstream social media.
Monetizing Interactions
Content creators, influencers, and participants form the backbone of SocialFi Crypto applications, seeking greater autonomy in managing their data, freedom of speech, and the opportunity to monetize their social media following and engagement. The monetization process typically involves cryptocurrencies, with identity management and digital ownership facilitated through nonfungible tokens (NFTs).
Interactive Hub for Influencers
One of SocialFi’s primary goals is to establish an accessible and interactive hub where influencers and content creators can seamlessly manage their interactions while generating income based on the value of their shared content.
This Web3 innovation not only facilitates monetization but also fosters a social-media-like community that mitigates censorship, enabling individuals to learn, collaborate, and interact while capitalizing on their expertise.
Read more: Top 5 SocialFi Projects You Should Know In 2024
Exploring the SocialFi Landscape
Overview of SocialFi Market
SocialFi landscape: diverse dimensions
The SocialFi market is a vibrant ecosystem, showcasing a myriad of projects, each with its own unique objectives, target demographics, and promising opportunities. To navigate this expansive landscape, we can discern five distinct segments that underscore the multifaceted nature and untapped potential within this dynamic market.
- Decoding Diversity: A Spectrum of SocialFi Projects
- Objective Variance: Defining Project Goals
- Demographics at the Core: Tailoring Platforms to Users
- Prospects and Challenges: Navigating the Road Ahead
- Unlocking Opportunities: The Future of SocialFi
Within the SocialFi realm, diversity reigns supreme. Projects span a wide spectrum, catering to different user needs and preferences. From decentralized social networks to blockchain-based content platforms, the market offers a plethora of options, each with its own set of goals and aspirations.
In this diverse ecosystem, project objectives serve as guiding beacons. Some SocialFi endeavors focus on fostering community engagement, aiming to create decentralized spaces where users govern the platform.
Others may prioritize content creation, leveraging blockchain technology to reward creators and consumers alike. Understanding these varied goals is crucial for investors and enthusiasts seeking alignment with their values.
Target demographics play a pivotal role in shaping the identity of SocialFi projects. Some platforms may cater to niche communities with specific interests, while others cast a wider net to attract a broader user base. Recognizing the nuanced approach each project takes toward its audience sheds light on the potential for widespread adoption and sustained growth.
As the SocialFi market evolves, it brings forth a tapestry of prospects and challenges. Identifying these factors is essential for stakeholders looking to navigate the road ahead. Opportunities abound for projects that can adapt to emerging trends and technological advancements, while challenges may arise from regulatory uncertainties and market saturation.
In this ever-changing landscape, the future of SocialFi holds immense promise. The intersection of decentralized technologies and social connectivity opens doors to innovative solutions and groundbreaking experiences. As projects continue to mature and evolve, the SocialFi market is poised for sustained growth, offering a dynamic playground for both creators and users alike.
Key SocialFi markets
Here, we delve into key SocialFi markets, shedding light on their diverse objectives and contributions.
- FitFi: Enhancing Well-Being Through Technology 1
- CommunicationFi: Integrating Cutting-Edge Solutions
- MetaFi: Crafting Immersive Virtual Worlds
- DonationFi: Mobilizing Financial Support for Altruistic Causes
- InfluenceFi: Monetizing Social Capital for Prof-Members
FitFi initiatives are at the forefront, championing a well-balanced lifestyle through technology. Applications dedicated to fitness, sports, and activity monitoring are designed to collect and analyze relevant data.
These projects not only enhance our understanding of physical well-being but also encourage positive lifestyle choices. FitFi aims to leverage technology to promote healthier living and create a community focused on well-being.
CommunicationFi initiatives are driving the integration of technological advancements in communication. These endeavors are committed to deploying cutting-edge solutions that redefine the way we connect and interact.
From innovative messaging platforms to advanced collaboration tools, CommunicationFi is at the forefront of transforming digital communication experiences.
MetaFi ventures into the realm of virtual reality, focusing on implementing communication and diverse user interactions within specially crafted virtual worlds.
The goal is to cultivate immersive and dynamic experiences that transcend traditional boundaries. MetaFi is poised to reshape how individuals engage with digital environments, offering a new dimension to social interactions.
DonationFi initiatives encompass extensive fundraising efforts, ranging from charitable endeavors to solicitation of donations. These projects aim to mobilize substantial financial support on a broad scale, emphasizing altruistic causes, philanthropy, and various forms of financial backing.
DonationFi plays a crucial role in channeling resources toward impactful initiatives that make a positive difference in society.
InfluenceFi is tailored for individuals possessing skills, knowledge, or social capital that can be monetized. The unique “Seller-Receiver” model is introduced, where the seller owns social capital, and the buyer, acting as the reader, facilitates the monetization process.
This distinctive characteristic defines the InfluenceFi segment, creating opportunities for prof-members to monetize their expertise and contribute to a thriving ecosystem.
SocialFi Landscape Moving Forward: Reshaping the Social Media Landscape
Combining DeFi and Social Media
SocialFi has seamlessly merged the realms of social media and DeFi, heralding a new era for Web 3.0 platforms. This innovative approach aims to redefine the way users interact with and manage their social media profiles and user-generated content.
At its core, SocialFi prioritizes content creators and influencers, empowering them with unprecedented control over their personal data, freedom of speech, and access to advanced monetization tools.
Core projects were born
Lens Protocol, the first in our spotlight, is spearheading a revolution in social reputation dynamics. This project is set to empower users with a unified social graph that transcends the boundaries of various applications.
Leveraging the security and transparency of blockchain technology, Lens Protocol ensures a seamless flow of content and data portability across diverse platforms. This novel approach aims to break down silos and create a more interconnected digital experience for users, fostering a sense of continuity and familiarity as they navigate through different applications.
Throughout the year 2023, the SocialFi landscape witnessed the rise of several projects, with Friend.tech leading the pack, capturing the attention of enthusiasts and industry observers alike. Friend.tech, a decentralized social media platform hosted on Coinbase’s layer-2 protocol Base, has achieved remarkable milestones since its inception in August 2023.
Addressing initial concerns about its revenue model, the platform defied expectations by generating over $20 million in revenue as of October 10, supported by a substantial 10.75 million cumulative transactions.
Simultaneously, the Decentralized Social Media (DeSo) application Stars Arena made significant progress, contributing to a surge in activity on Avalanche’s C-Chain network. This increased network engagement had a effect, propelling the price of the network’s native AVAX token to an impressive 8% gain within a few days.
CyberConnect emerges as a decentralized social graph protocol anchored on the BNB Chain. This innovative platform allows users to create profiles with a focus on self-sovereignty and data ownership.
The emphasis on these principles ensures a secure and dynamic social networking experience. CyberConnect’s robust network effects are designed to facilitate seamless integration across various decentralized applications (dApps), promoting a fluid and interconnected user experience.
As the SocialFi movement gained momentum, its impact was particularly pronounced in East Asia and India. Projects such as XCAD Network, Avive Profile NFTs, and Post.tech Profile experienced substantial growth, amassing significant user bases. This surge in popularity underscores the growing relevance of decentralized social media on the global stage.
In essence, the fusion of social media and decentralized finance through SocialFi has unleashed a wave of transformative platforms, with 2023 witnessing remarkable achievements and accelerated interest. Therefore, it is expected that SocialFi landscape in 2024 will also follow the strong growth momentum to expand more projects.
SocialFi Landscape in 2024: InfluenceFi Will Have a New Breakthrough
Outstanding examples
Chirpley
SocialFi emerging trends are reshaping the dynamics of influencer marketing. One noteworthy trend is the rise of decentralized influencer aggregators, exemplified by platforms such as Chirpley. Tailored for small influencers, Chirpley utilizes cutting-edge technologies, including Artificial Intelligence, Machine Learning, and Big Data, to create a decentralized organization that prioritizes the interests of its users.
Chirpley’s distinctive feature lies in its ability to perform virtual mapping, allowing marketers to seamlessly initiate campaigns with thousands of small influencers simultaneously, all within a matter of minutes. This groundbreaking approach not only proves to be cost-effective but also time-efficient, offering a unique solution in the competitive influencer marketing SocialFi landscape.
League.Tech
In a parallel development, open marketplaces of social capital and professional skills are gaining traction, with League.Tech leading the way. This innovative platform introduces a structured access system, incorporating advanced trading features that enhance earning prospects for creators. By breaking down entry barriers, League.Tech aims to foster inclusivity and accessibility for all participants in the digital ecosystem.
What sets League.Tech apart is its commitment to empowering creators through key shorting, providing novel opportunities for financial success. This approach not only revolutionizes the traditional creator economy but also opens doors for creators to explore new avenues for prosperity.
Benefits of InfluenceFi
In recent times, the popularity of InfluenceFi has witnessed a remarkable surge, attributed to several factors that empower content creators and revolutionize the way they interact with their audience. This innovation has gained traction for reasons beyond its initial appeal as users increasingly recognize the unique advantages it offers.
One of the key driving forces behind InfluenceFi’s rise is the emphasis on user control over content sharing and monetization.
Unlike traditional platforms, InfluenceFi empowers users by granting them complete control, minimizing the risk of censorship, and safeguarding their accounts from deletion or deactivation. This newfound autonomy is proving to be a game-changer for content creators who value the ability to express themselves freely without the fear of arbitrary restrictions.
InfluenceFi opens the door to a myriad of applications tailored specifically for content creators, placing a strong emphasis on the protection of their work and privacy.
This development addresses longstanding concerns in the creative community, providing a supportive environment for individuals to thrive and share their talents without compromising on their intellectual property rights. The platform’s commitment to fostering a secure and innovative space for creators has significantly contributed to its increasing popularity.
In addition to content control and privacy, InfluenceFi leverages digital tokens to facilitate transactions and trades among its users. This not only provides a swift and efficient means of conducting financial transactions but also positions the platform as an environmentally friendly alternative.
The use of digital tokens reduces the carbon footprint associated with traditional financial transactions, aligning InfluenceFi with the growing global emphasis on sustainable and eco-friendly practices.
Figures From the SocialFi Landscape
InfluenceFi
Securing an impressive total investment of over $479 million, InfluenceFi has left a significant mark across 31 projects. The average deal size for this segment stands at a noteworthy $14.1 million, showcasing both the magnitude and breadth of the investments made.
MetaFI
MetaFI, although boasting the largest average deal size at $25.4 million, distinguishes itself by featuring the fewest projects in comparison to its counterparts. However, despite this, MetaFI has garnered a substantial total investment volume exceeding $152 million, underscoring the confidence investors have placed in its ventures.
CommunicationFI
CommunicationFI follows closely, having received a total investment surpassing $137 million. With an average deal size of $6.5 million, this segment has proven its appeal across more than 20 projects, emphasizing both diversity and investor confidence.
FitFI
FitFI, another notable player in the financial investment arena, recorded total investments exceeding $50 million. The segment features an average deal size of $4.6 million, spread across over 11 projects, illustrating a strategic allocation of funds in a variety of initiatives.
DonationFI
In the philanthropic realm, DonationFI has made a significant impact, accumulating total investments surpassing $44 million. Boasting an average deal size of $4 million, this segment has supported more than 10 projects, reflecting a commitment to fostering positive social change through financial contributions.
The above figures are referenced in Gotbit Insights’ article.
Conclusion
While SocialFi is still in its infancy, the growth of SocialFi is undeniable, presenting a novel approach to social networking that is redefining user experiences. As we stand at the threshold of this burgeoning industry, the future remains uncertain, and predicting the SocialFi landscape in 2024 proves to be a challenging task.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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