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.
