SocialFi in 2024: The Complete Guide to the Main Projects to Watch

What Is SocialFi and Why It Matters

The convergence of social networks and blockchain technology is creating a new paradigm: SocialFi. It is an innovative fusion that combines the connectivity of traditional social platforms with Web3 financial mechanisms. Unlike the traditional model where large corporations profit from their data, SocialFi gives power back to creators and end-users.

At the heart of this revolution is the direct monetization of online interactions. Instead of relying on advertising or corporate deals, you can turn your social activities—posts, comments, content creation—directly into financial gains through cryptographic tokens. This represents a fundamental shift: control over your data and content returns to those who truly create it.

The Explosive Growth of the Sector in 2023 and 2024

The numbers speak for themselves. According to the 2023 dApp Industry Report from dAppRadar, the social sector experienced an impressive growth of 518% compared to 2022. The daily number of Unique Active Wallets (UAW) reached 250,764 users, demonstrating that this is not a passing phenomenon but a solidified trend.

In 2024, momentum accelerated. SocialFi tokens reached a combined market value of over $4.6 billion, with 24-hour trading volume surpassing $215 million in early May. These figures reflect growing investor confidence and mass adoption.

Pioneering platforms like Friend.tech and Lens Protocol paved the way. But true innovation continues: advances in scalability, decentralized governance models, and interoperability between blockchains are making these platforms increasingly accessible and efficient.

Who Should Be Watching SocialFi?

SocialFi is not for everyone, but the potential user spectrum is surprisingly broad:

Content Creators and Influencers find here a direct path to monetize influence. Instead of relying on lavish advertising contracts, you control your own economy.

Tech Enthusiasts see SocialFi as the next natural frontier of blockchain evolution. For those wanting to be at the intersection of social media and DeFi, it’s the right place.

Privacy Advocates value control over personal data. SocialFi platforms typically offer advanced security and ensure you are the legitimate owner of your profile and content.

Aggressive Investors seek opportunities in emerging markets. SocialFi offers an interesting combination of early-stage tokens with established use cases.

Fan Communities discover more interactive ways to support their favorite creators through tokens and community governance.

The Projects That Are Shaping the Market

Cheelee (CHEEL): Gaining by Watching

Current Data (26/12/2025): Price $0.53 | 24h Drop: -43.81% | Market: $30.01M

Cheelee operationalizes a simple yet powerful concept: reward for attention. Built on BNB Smart Chain, this platform uses an elegant two-token system. CHEEL serves as a governance token, while LEE functions as a transactional currency for content view rewards.

The key difference is in its security. Advanced algorithms protect against fraud and unfair distribution. The platform’s Stability Fund—funded by advertising revenue, in-app purchases, and NFT sales—acts as a volatility buffer, buying back tokens and burning them as needed.

CyberConnect (CYBER): Sovereign Digital Identity

Current Data (26/12/2025): Price $0.70 | 24h Drop: -1.18% | Market: $38.75M

CyberConnect represents a different philosophy: you own your digital identity. Operating on Ethereum and other EVM-compatible blockchains, this decentralized social graph protocol allows you to truly control your online presence.

The CYBER token enables governance, fee payments, and purchasing premium CyberProfiles. The crucial technical innovation is account abstraction—significantly simplifies onboarding and reduces typical Web3 barriers. The economic goal is clear: redistribute profits back to users and creators, radically contrasting with traditional platforms.

LUKSO (LYX): Connecting Digital to Physical

Current Data (26/12/2025): Price $0.42 | 24h Drop: -3.45% | Market: $12.79M

A Layer 1 blockchain with a particular focus on creative industries. LUKSO goes beyond pure social networks; it reimagines how creators and consumers interact with digital and physical assets.

The Universal Profiles of this network offer a unified digital identity that simplifies the Web3 experience. Support for the ERC725 standard allows direct management of verifiable information. The Proof-of-Stake consensus mechanism drastically reduces energy consumption compared to traditional PoW systems. For creators, LUKSO supports digital collectibles, designer ICOs, and peer-to-peer markets—opening genuinely new economic possibilities.

Theta Network (THETA): Revolutionizing Video Streaming

Current Data (26/12/2025): Price $0.26 | 24h Drop: -4.55% | Market: $259.70M | Token TFUEL: $0.02 | 24h Drop: -4.09% | Market: $125.97M

Theta Networks addresses real issues in the streaming industry: high costs, excessive centralization, inefficient infrastructure. It functions as a decentralized video delivery network (VDN), aggregating unused computational resources from users.

The two-token system is clever: THETA governs the network, while TFUEL powers daily operations—transactions and smart contract deployment. Users earn TFUEL by sharing bandwidth and processing power. The multi-blockchain architecture compatible with EVM enables integration with NFTs, DEXs, and DAOs, significantly expanding use cases beyond simple streaming.

XCAD Network (XCAD): Watch-to-Earn for YouTubers

Current Data (26/12/2025): Price $0.01 | 24h Drop: -3.93% | Market: $982.48K

XCAD reimagines the relationship between creators and audiences. It functions as a watch-to-earn platform specifically designed for YouTube, allowing creators to issue their own tokens that fans earn by watching.

These creator tokens offer real governance rights—fans influence what kind of content will be produced. A browser plugin simplifies the earning process. The network operates on multiple blockchains (Ethereum, Zilliqa, BSC, Polygon), maximizing accessibility. The tokenomics caps supply at 200 million tokens, creating a sustainable scarcity dynamic.

Friend.tech: Financing Social Connections

Built on the Base blockchain, Friend.tech introduces a provocative concept: buying and selling “Keys”—essentially social influence shares of other users. The value of Keys fluctuates like real assets based on demand and engagement.

Key owners access private chats and exclusive content. The economic model is highly speculative—you literally trade with social capital. Version 2 aims to address scalability and security challenges observed. The new POINTS token will enable the creation of social clubs; users can stake ETH and POINTS to earn rewards.

Open Campus (EDU): Decentralized Education

Current Data (26/12/2025): Price $0.14 | 24h Drop: -0.26% | Market: $91.75M

Open Campus reimagines the education sector through blockchain. It connects students, educators, content creators, and institutions in a decentralized environment where all parties profit.

The EDU token funds transactions, governance, and donations. Partnerships with TinyTap, GEMS, and Genesis decentralize educational resources from early childhood to K-12. The Open Campus DAO allows token holders to vote on updates and propose features. The tokenomics supports a viable economic model with a steady flow of rewards incentivizing content creation.

Hive (HIVE): Truly Decentralized Social Media

Hive operates its own blockchain, ensuring fast transactions without intermediaries. The system is elegant: users create content, vote on quality, and comment. Each action generates rewards in HIVE.

Its decentralized nature prevents censorship and promotes genuine freedom of expression. Users maintain full control over content and data. Economically, the platform encourages a vibrant community ecosystem where engagement directly translates into financial benefits. Its capacity to support applications beyond blogs (videogames, commerce) offers significant growth potential.

Steem (STEEM): Proof of Brain in Action

Steem implements a unique social consensus mechanism called “Proof of Brain.” It distributes cryptographic rewards to content creators and curators, monetizing posts, comments, and votes.

Key technical innovation: zero transaction fees. The bandwidth limitation system manages resources without financial barriers. It supports transaction volumes exceeding Bitcoin and Ethereum. The hierarchical private key system offers modular security. DPoS (Delegated Proof of Stake) enables fast, scalable processing.

Native tokens STEEM and Steem Dollars (SBD) facilitate value redistribution back to creators. The market potential lies in attracting everything from casual users to developers building sophisticated dApps.

Chingari (GARI): Short-Form Video with Rewards

Current Data (26/12/2025): Price $0.00 | 24h Drop: -6.63% | Market: $863.74K

Chingari offers a blockchain-based social platform where users earn GARI tokens by creating content, participating in communities, liking, sharing, or commenting. Creators receive direct tips from the audience in tokens.

Its integration with the Aptos blockchain is strategic—improving scalability and speed, enabling up to 1,200 transactions per second. GARI tokens can purchase video NFTs, give tips, and access premium content. For creators, it offers a new direct revenue model without intermediaries.

Lens Protocol: True Ownership of Content

Launched on Polygon, Lens Protocol offers an innovative solution: all user data—posts, followers, interactions—are associated with a unique NFT controlled by the owner.

You carry your social graph to any application built on Lens. Its modular architecture allows developers to innovate easily. The PoS system offers superior energy efficiency. Users interact through a composable social graph, creating a rich ecosystem of interconnected applications.

Economically, it enables direct monetization for creators via blockchain, completely eliminating intermediaries.

Criteria for Investing in SocialFi Wisely

When evaluating SocialFi projects, consider these critical factors:

Technological Infrastructure: Look for proven technical robustness. Scalability, security, and efficient transaction processing are not optional.

Engaged Community: Projects with active and growing communities validate their value proposition. Genuine participation drives sustainable growth.

Authentic Innovation: Differentiate between incremental improvements and true breakthroughs. Friend.tech and XCAD Network exemplify innovative paths of genuinely new monetization.

Sustainable Tokenomics: Understand the economic model deeply. Projects dependent on token rewards need architecture that maintains long-term viability.

The Future: Opportunities and Obstacles

The horizon of SocialFi presents fascinating prospects:

Increased Decentralization: Mass migrations to platforms offering real data control and direct monetization.

Content Monetization Transformed: Microtransactions could revolutionize creator revenues, shifting from advertising to direct compensation.

Integrated Artificial Intelligence: AI enhances engaging content generation. Balancing automation and authenticity will be critical.

Fluid Social E-commerce: Seamless integration of shopping within social platforms. Brands converting social presence into direct sales.

Extended Video Formats: Social networks favor longer videos over short clips, enabling more substantial content.

Genuine challenges remain:

Scalability without centralization continues to be technically complex. Token volatility exposes users to financial instability. Regulation remains undefined, and security concerns require careful navigation.

Conclusion

SocialFi represents a turning point in the history of social networks. It’s not just about technology—it’s about redistributing economic power. When considering investments, prioritize technological robustness, genuinely engaged communities, authentic innovation, and real economic sustainability.

Despite scalability and volatility obstacles, the path points toward a future where social media genuinely benefits creators and users. Power may finally return to those who truly create value.