Research Summary
This report discusses the potential of SocialFi, focusing on the concept of mini-DAOs, social trading, GameFi, and more. The author envisions a future where these platforms become all-in-one crypto social apps, facilitating discussions, swaps, and collective trading within the same app. The report also highlights the three key innovations of Friend Tech that have changed the way we interact in crypto: The Minimalistic Wallet, Progressive Web Application (PWA), and Bonding Curve.
Key Takeaways
The Potential of SocialFi
- Future of SocialFi: The report suggests that SocialFi platforms could evolve into all-in-one crypto social apps, enabling discussions, swaps, and collective trading within the same app.
- Mini-DAOs: The author proposes the idea of mini-DAOs, where users buy a key to a specific mission-driven DAO, organized and led by a leader whose keys they buy. This could provide a more focused and passionate community.
- Role of DAOs: The report emphasizes the importance of a strong leader in DAOs, and how Friend Tech is all about the personality you are paying to access.
Friend Tech’s Innovations
- The Minimalistic Wallet: Friend Tech has simplified the process of setting up a crypto wallet by connecting it to your X account.
- Progressive Web Application (PWA): Friend Tech’s app is built using web platform technology, offering a user experience similar to that of a platform-specific app.
- Bonding Curve: This feature puts a high price tag to enter the exclusive community, creating an exclusive and tightly-knit community compared to other social networks.
Future Directions
- Social Trading: The report anticipates the emergence of FT forks specifically dedicated to social trading, where influencers not only share their predictions but back up their words with actions.
- Social GameFi: The author suggests the potential for mini-DAOs to compete with other DAOs in games, play poker, or engage in gambling, providing a more social experience.
- The Bull Case for FT Forks: The report argues that if FT forks diversify and focus on mini-DAOs, social trading, GameFi, or other missions, it would enhance the SocialFi narrative and benefit the entire crypto space.
Actionable Insights
- Exploring the Potential of SocialFi: Stakeholders should consider the potential of SocialFi as all-in-one crypto social apps, facilitating discussions, swaps, and collective trading within the same app.
- Investigating Friend Tech’s Innovations: The innovations of Friend Tech, such as The Minimalistic Wallet, Progressive Web Application (PWA), and Bonding Curve, should be examined for their potential to change the way we interact in crypto.
- Considering Future Directions: Stakeholders should consider the potential future directions of SocialFi, including the emergence of FT forks dedicated to social trading and Social GameFi.
