The post The Competitive Landscape of SocialFi by Bitget Research appeared on BitcoinEthereumNews.com.

 Key takeaways SocialFi combines social, NFT, and DeFi to create a community-driven economy with community tokens or NFTs at its core. Friend.tech currently leads the SocialFi landscape across quantitative metrics. Despite Friend.tech’s dominance, fierce competition exists in the rapidly evolving SocialFi sector, with projects like post.tech and friendzy challenging for prominence. The competitive landscape of SocialFi, as meticulously analyzed by Bitget Research, paints a dynamic and evolving picture of this emerging field. SocialFi, the amalgamation of social, NFT, and DeFi, represents the marriage of community-driven economies within the DeFi realm, with various projects vying for dominance. Notably, Friend.tech has risen to prominence, leading in terms of quantitative metrics and boasting significant interaction and user numbers as of October 9th. However, the competition within SocialFi remains fierce, with projects like post.tech and friendzy, while not far behind, challenging Friend.tech’s dominance. In this rapidly evolving sector, Friend.tech’s ascendancy marks the beginning of a heated competition for the top spot in the SocialFi landscape. 1. What is SocialFi? SocialFi, short for Social Finance, combines social and finance elements. It’s a fusion of social, NFT, and DeFi that creates an ecosystem where social and finance interact. Think of it as a community-driven economy with community tokens or NFTs linking people, all under the umbrella of DeFi. Lately, the term SocialFi has become quite popular and broadly refers to almost all Web3 social projects. With the buzz around Friend.tech, there’s been a surge of interest in SocialFi projects, heating up the competition. 2. As of June 18th There are two notable aspects in the competitive landscape of SocialFi: Friend.tech leads across all quantitative metrics, undisputedly taking the top spot. With various SocialFi projects emerging, Friend.tech faces fierce competition. Data source: Dune Analytics 3. As of October 9th Looking at interaction and user numbers, Friend.tech boasts…

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Filed under: News - @ October 12, 2023 2:12 pm