– Executives in the decentralized social media space say that onboarding and retention are still major issues for these platforms.
– The process of getting users to sign up and stay on decentralized social networks can be clunky and confusing, leading many users to quit.
– Simplifying the onboarding process and making it more frictionless is crucial for attracting and retaining users.
– Users also need to familiarize themselves with blockchain technology and wallets before signing up, which can be a barrier for entry.
– Building communities and attracting top-tier creators and influencers to decentralized social media platforms could help drive user adoption.
– Ethereum and other smart contract platforms are not purpose-built for social media applications at scale, which is another reason why decentralized social media hasn’t reached mass adoption.
– Friend.tech, a decentralized social platform, has seen strong uptake recently, but some industry experts believe it may be a temporary trend.
– Sales revenue from decentralized social media networks is projected to grow significantly in the coming years.
– Other decentralized social media networks include Bluesky, Mastodon, and Lens Protocol.