Vitalik Buterin explained the decrease in activity on

Vitalik Buterin, co-founder of the Ethereum blockchain, commented on the significant drop in the indicators of the SocialFi project. According to him, one of the possible reasons was financial speculation.

Vitalik Buterin explained the decrease in activity on
"I've always said, 'A bad game dev is using financial speculation as a substitute for entertainment. Blockchain games should be fun.” In the crypto—social sphere, everything is about the same," he stressed.

According to Buterin, the Lens Protocol and Farcaster platforms are an example of the opposite. He left his comment under the publication of Hasib Qureshi, managing partner of Dragonfly Capital.

He noted that he agreed with the thesis regarding Lens Protocol and Farcaster. However, according to him, it is not worth "writing off" the concept of a SocialFi project built in close relationship with financial speculation.

Earlier it became known that the activity on has decreased by 95% compared to the peak set in September 2023. According to experts, one of the reasons is poor execution on the part of the team.


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