Crypto analyst: The extractable value of Web3 social users is much lower for developers than DeFi users

2023/08/17 08:56

Cryptocurrency analyst Ning Ning tweeted that despite the continuous evolution of Web3 social products in narrative, from Steemit to Bi Hu, to Cyber Connect, the track is actually regressing from the perspective of product architecture and token economics. The main reason is that users' social graphs are highly coupled with Web2 platforms and are difficult to migrate; the value of content is more related to the publishing platform and the user group reached, surpassing content quality; for developers, the extractable value of Web3 social users is far lower than that of DeFi users. However, Web3 social has not been completely disproven, and Lens Protocol, as a Web3 social protocol created by the Aave team, may be able to turn the situation around.
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