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What is SocialFi?
SocialFi is defined as Social Finance, the combination of Social and Finance.
As one of the hot tracks in the industry, the social token ecosystem continues to grow. After 2020, the DeFi era began. Influenced by the concept of open Finance and liquidity mining, SocialFi began to transform from "Social + Finance" to "Social + DeFi". After the advent of THE DeFi era, NFTFi and GameFi exploded one after another, and SocialFi was highly expected by the community. In fact, in the first half of 2021, many new projects with SocialFi concepts are joining the circuit.
At present, the track is still in its early stages of development, with most ecological participants spreading concepts and updating technologies based on social tokens. In most statistical platforms, there are still few platforms that categorize SocialFi concepts alone, and some projects tend to overlap with concepts like NFT and GameFi.
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