Investment Firm Franklin Templeton: Base to Lead Ethereum L2 Sector, Powered by Socialfi

May 13, 2024 Bitcoin.com

BASE

Franklin Templeton, a global investment behemoth, has praised the development and growth of Base, the Coinbase-incubated Ethereum L2. On social media, the company declared that Base had “hit a home run” due to its popularity with meme coins and socialfi applications, including the pioneering app in the space, Friend.tech. Franklin Templeton Praises Base’s Performance, Comments […]

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Base set for ‘material share’ of SocialFi activity: Franklin Templeton

May 9, 2024 Coin Telegraph

Asset Management

Base is already home to 46% of transactions related to SocialFi on-chain, but the asset manager says it has even more room to grow.

Trillion-dollar asset manager Franklin Templeton suggests “Base Season” has arrived with the rise of Social Finance (SocialFi) apps, with Base leading other Ethereum layer 2s in the vertical.

“[It is] positioning itself well to capture a material share of SocialFi activity and remain a leader in the Ethereum L2 sector going forward,” Franklin Templeton said in a May report.

About 46% of transactions related to SocialFi are on Base, which has increasingly stripped market share away from the BNB Chain and Polygon in recent months, according to one of the charts provided by Franklin Templeton.

Crucial Decision Coming for Bitcoin, Says Crypto Trader Michaël van de Poppe – Here’s His Outlook

Crypto degens ‘hungry’ for next big SocialFi breakthrough — K33 Research

May 9, 2024 Coin Telegraph

Coin Telegraph

Crypto users are increasingly turning attention to new SocialFi apps, but analysts say it’s probably too early to say whether “SocialFi season” has arrived.

Crypto users are clamoring to find the next big thing in the Social Finance (SocialFi) sector, according to analysts from K33 Research — who see it a growing corner of crypto despite being plagued by “perverse incentives.”

In a May 8 research report, K33 DeFi analyst David Zimmerman wrote that following a recent Firend.tech airdrop, crypto users are already looking to a new SocialFi app called Fantasy Top – built on Ethereum layer-2 network Blast — as the next potential opportunity.

Fantasy Top is a SocialFi game allowing users to buy and sell virtual trading cards of crypto-affiliated X accounts and use them to compete in tournaments. These tournaments are paying users for their activity on the platform in ETH, a reward token on Blast called GOLD, native “fan points” and additional packs of trading cards.

Crucial Decision Coming for Bitcoin, Says Crypto Trader Michaël van de Poppe – Here’s His Outlook

Friend.tech’s FRIEND Token Airdrop Faces Steep Decline Since Market Debut

May 3, 2024 Bitcoin.com

Airdrop

Friend.tech, the decentralized social media application on the Base network, recently launched its native token through an airdrop. Since trading commenced, the token has plummeted, dropping anywhere from 50% to 90% of its initial value across various decentralized exchange (dex) platforms, as reported by several different price aggregation websites. FRIEND Starts Strong but Value Plummets […]

Crucial Decision Coming for Bitcoin, Says Crypto Trader Michaël van de Poppe – Here’s His Outlook

Legendary Boxer Mike Tyson Joins Blockchain Social Network

April 20, 2024 Bitcoin.com

bitcoin.com

Boxing legend Mike Tyson has become an ambassador for the blockchain-based social networking app, Ready to Fight. Tyson describes Ready to Fight as a boxing-centric social network that assists boxers and the boxing community with their business needs. RTF Aims to Revolutionize the Boxing Ecosystem Former heavyweight boxing champion Mike Tyson has joined the Web3 […]

Crucial Decision Coming for Bitcoin, Says Crypto Trader Michaël van de Poppe – Here’s His Outlook

TikTok parent company explores on-chain possibilities for Web3 gaming and AI

April 17, 2024 Coin Telegraph

BytePlus is partnering with Mysten Labs to integrate advanced AI algorithms and data warehousing technology into the Sui blockchain ecosystem.

BytePlus — the enterprise technology arm of ByteDance, TikTok’s parent company — has announced a move into Web3 through a strategic partnership with Mysten Labs, the developers behind the Sui layer-1 blockchain.

In a statement on April 17, BytePlus explained how it plans to use its existing knowledge and experience in artificial intelligence (AI) and data warehousing to empower the Sui ecosystem, with a particular focus on Web3 gaming and SocialFi projects.

The partnership will see BytePlus integrate its cutting-edge solutions, including ByteHouse — a cloud-native data warehouse — with Sui’s full-node data.

Crucial Decision Coming for Bitcoin, Says Crypto Trader Michaël van de Poppe – Here’s His Outlook

‘Real-World Implementations of Both AI and Web3’ Fuel AI Tokens’ Rally, Says Daniel He

April 16, 2024 Bitcoin.com

Artificial intelligence (AI)

With socialfi platforms, financial incentives serve not only as a reward mechanism for content creators but also “fundamentally transform the engagement model for all users,” Daniel He, the CEO of the artificial intelligence (AI)-powered socialfi platform, Republik, said. He believes that by offering incentives for user engagement beyond liking or commenting, socialfi platforms have a […]

Crucial Decision Coming for Bitcoin, Says Crypto Trader Michaël van de Poppe – Here’s His Outlook

Socialfi Expands Satoshi Nakamoto’s Vision of a Defi System to Social Media, Says Kevin Lu

March 27, 2024 Bitcoin.com

bitcoin.com

According to Kevin Lu, social finance, or “socialfi” — a combination of social media and decentralized finance — is an innovation that extends Satoshi Nakamoto’s vision of a decentralized financial system to social media. Although it’s not intended to replace today’s traditional social media platforms, socialfi addresses “significant value gaps in current consumer products,” said […]

Crucial Decision Coming for Bitcoin, Says Crypto Trader Michaël van de Poppe – Here’s His Outlook

RepubliK unveils AI-powered SocialFi platform, sets sight on layer 2 integration

March 8, 2024 The Crypto Briefing

RepubliK launches its AI-powered SocialFi platform, built in collaboration with AWS AI, to elevate content quality and user engagement.

Crucial Decision Coming for Bitcoin, Says Crypto Trader Michaël van de Poppe – Here’s His Outlook

Ava Labs President John Wu Makes 2024 Crypto Predictions, Says Big Developments Coming for Avalanche Ecosystem

October 20, 2023 The Daily Hodl

Altcoins

The president of the Avalanche (AVAX) development firm Ava Labs is issuing his crypto predictions for 2024. In the interview with CNBC, Ava Labs president John Wu talks up the Friend.tech challenger Stars Arena, a decentralized social finance application (SocialFi) that launched on the AVAX blockchain in late September. “We just talked about Stars Arena, […]

The post Ava Labs President John Wu Makes 2024 Crypto Predictions, Says Big Developments Coming for Avalanche Ecosystem appeared first on The Daily Hodl.

socialfi

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