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Amid the recent skepticism surrounding the Web3 industry, this article aims to analyze the developments in the Web3 social sector over the past eight years, covering two cycles, from the perspective of the author. By summarizing the achievements, experiences, and lessons of the builders in this field, we hope to identify potential opportunities and blueprints for the future.

This article delves into the development and challenges of Web3 social in the current environment filled with skepticism. Despite many viewing Web3 as a scam, we still believe that its core technologies, such as decentralization and token incentives, have revolutionary potential.

Farcaster introduces the new feature Frames, sparking a development boom and boosting the community token $DEGEN, earning praise from Silicon Valley guru Paul Graham and showcasing the new potential of crypto social networks.

This article is dedicated to providing a quick overview of what defines "web3 social," including types of projects, key roles, dominant narratives, etc., ensuring a comprehensive understanding of the content we are focused on.

The U.S. Genius Act has triggered 72 copycat crypto ETF filings, sparking new battles over fee wars, staking yields, and regulatory arbitrage.

Outlier Ventures has taken notice of the development of decentralized social networks, particularly Farcaster and Lens Protocol, which have begun to attract genuine user attention. The article explores the application of cryptographic technology in social networks, as well as the challenges of private key management and mobile experiences. The goal of decentralized social networks is to break the limitations of traditional platforms, providing user identity portability and more control. DeSo (decentralized social) offers permissionless communication and broadcasting capabilities, while SocialFi combines Web3 primitives with decentralized finance. Friend Tech has discovered the potential of token-gated chats. The Lens Protocol is a composable social graph deployed on Polygon, whereas Farcaster is a Web3 social network built on Ethereum, using smart contracts and a peer-to-peer network matrix based on "Hubs." Farcaster implements its architecture through a set of smart contracts deployed on Optimism and has att

Ethereum has always been where ideas become reality. Now we have the chance to build something even bigger. A platform that aligns Ethereum’s builders, researchers, and users on what actually matters.

The article's analysis of Cohen's business decisions—such as GameStop's restructuring and Bitcoin investments—offers readers valuable insights and lessons.

This article takes stock of the characteristics and latest developments of decentralized social media platforms represented by Farcaster, and discusses the challenges and new directions faced by decentralized social media.