Still to this day every platform that has been released to take on web2 social platforms has been a utter failure. Sure there are some mild successes but for the most part either token values are so low that no one bothers or they have failed and closed up shop. Of course some have also been scams but the end of the story is even after 5 years of hard push if not longer there are still no real solid options for web3 that people are using they are often just a few thousand users.
So what is it that socialfi or web3 platforms seem to be missing that is causing it not to be adopted?
To me it comes down to one thing and that's content creators getting paid.
Why would someone spend all this time creating unique content and engaging with people if. One they were not making more or at least somewhat close to what they are making on traditional web2 platforms and Two if there's a smaller and really not that active userbase.
One of those things at least has to be in place for growth and for crypto the easiest one is going to be the generation of value for the token. That's mainly going to come down to ad revenue and other types of contracts and partnerships that bring dollar value into the tokens being paid out.
For some reason nearly ALL of web3 is so against ads but have no answer as to where money will come from and just expect it. This is a failed plan and we continue to see that happening to this day.