How does SocialFi work?
Problem/SocialFi
By tokenising social engagement, SocialFi platforms reward users for their activity. Whether you're engaging with content, contributing insights, or building a following, the more you participate, the more you earn.
At its core, SocialFi works on the principle of incentivised engagement.
Users participate by interacting with posts, leaving comments, creating content, or joining discussions.
The platform rewards them with tokens based on their level of engagement or influence within the community.
These tokens can then be used for various purposes, like accessing premium content, participating in governance decisions, or staking in decentralised finance protocols.
But it’s not all sunshine and rainbows. There are major flaws with current SocialFi models that are holding back its full potential.
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