Cryptocurrency is ‘hungry’ for the next SocialFi innovation — K33 Research

Cryptocurrency users are increasingly turning their attention to the new SocialFi app, but analysts say it’s still too early to tell whether “SocialFi season” has arrived.

Cryptocurrency users are struggling to find the next big thing in the social finance (SocialFi) sector, according to analysts at K33 Research. K33 Research sees it as a growth corner for cryptocurrencies, despite suffering from “perverse incentives.”

In a May 8 research report, K33 DeFi analyst David Zimmerman wrote that following the recent Firend.tech airdrop, cryptocurrency users are already looking to a new SocialFi app called Fantasy Top, built on top of the Ethereum layer 2 network Blast, as the next potential opportunity. .

Fantasy Top is a SocialFi game that allows users to buy and sell virtual trading cards for X accounts related to cryptocurrency and compete in tournaments. These tournaments pay users for their activities on the ETH platform, Blast’s reward tokens called GOLD, basic “Fan Points” and additional trading card packs.

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Source: https://cointelegraph.com/news/crypto-degens-hungry-big-socialfi-breakthrough-k33-research