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SocialFi got rekt badly.
X killing Infofi is one, but Base and Farcaster both moving from decentralized social media to trading-first approach is... unfortunate. Lens & other competitors are dead, too.
Crypto would benefit from decentralized media as:
- The geopolitical situation is uncertain with countries considering banning X
- X killing APIs shows that businesses can't rely on centralized platforms
- Crypto is narrative based industry. CT being a hostage of X for vibes is risky
Infofi platforms failed to solve the tough problem of AI slop. So X team solved it for them.
Timeline is much better now.