Comparison between Farcaster and friend tech: The Competition between Financial Socialization and Social Financialization
Author: defioasis This article was written on May 13, and some data may have changed. SocialFi, an emerging trend that combines social relationships and financial tokenization, evolves at the intersection of social networks and financial technology into two unique models: social financialization and financial socialization. Social financialization, with finance as the primary focus, wraps social networks in financial concepts and tokenization. It relies on the Ponzi model, allowing creators (content) to be tokenized and directly converted into economic benefits, represented by friend tech. Friend tech emerged in the second half of last year, leading a social trend with various friend tech applications springing up; however, after an initial surge, friend tech experienced a downturn, and various imitations have virtually disappeared. Recently, it regained attention with the release of v2 and the FRIEND token. Financial socialization, primarily through social platforms, builds communitie...