Not for the first time and not for the last time all the crypto peeps on twitter are crying out for somebody to build a decentralized social media.
It's a great idea and I'm not sure why nobody has though to build this before??? It just seems like a smart way to go.
Many teams have tried and failed in the past as the crypto community expects rewards for every single action so every decentralized social media needs funding but none of them generate any revenue and can't last any length of time.
Failed projects:
These projects were built on blockchain or crypto models but ultimately failed to sustain usage, tokens, or operations.
Friend.tech – A SocialFi tokenized social platform that boomed early in 2023 but collapsed in active use and effectively shut down controls by late 2024 as users left.
Voice – Launched by Block.one as a decentralized social network; after weak traction and a pivot toward NFTs, it announced winding down operations, disabling new registrations and markets.
DeSo (formerly BitClout) – Social blockchain tokenizing creator profiles and interactions; faced major criticism over data scraping, speculator-centric design, and failed to achieve mainstream social use.
Steemit (original model) – While the platform still exists in forks (e.g., Hive), the original incentivized blockchain social network saw steep decline in engagement and value, and most of its team and momentum dissipated.
Noise.app - A self funded bitcoin cash social media that was popular at the beginginning when the rewards were there but died off swiftly after they were reduced.
Surviving Projects.
- Mastadon
- Lemmy
- Nostr
- Lens
- Farcaster
A few of which I've tried and hated. They are not comparable to their web3 counterparts and have so many flaws and complications that it's not hard to see why they are not growing in size and use.
For any of these to succeed we will need to see huge advancements in ease of use and optics as well as some of them relying on established revenue streams and partnerships.
No project will survive by paying users out of their pockets to use the eco=system and that is an important lesson for Hive as well.
We've done very well to survive to date after all of the issues and setbacks over the last decade but unless apps develop revenue streams and grow the overall userbase then we will fold as well at some point.
It's very hard to gain new users but we do have the best web3 apps in the entire crypto space for social media but somehow, no matter how many times that you tell people about them they don't want to hear it.
The comments from the post are all saying the same thing.
But if you try to answer a of them with info about Hive and it's front ends you get ignored or ridiculed. Everybody wants what hive is but nobody is willing to sacrifice a few home comforts to make it successful and change their habits.
If we could even get 10K new users it would get the whole eco-system moving and bring in new builders and new ideas to grow form there again.
People just don't want to know about it though.