Why Binance’s CZ says SocialFi and GameFi will be key drivers in 2022?
In January 2022, well-known Cryptocurrency influencer, Binance CEO Changpeng Zhao, also known as “CZ” published a commentary in the India section of Fortune magazine.
“DeFi has experienced rapid innovation in 2021, and we may see a boom in interest and innovation in 2022, with SocialFi and GameFi being the key drivers,” he said.
He further explained that NFTs, P2E games, and the Metaverse enrich the community. This is because these areas are well-introduced to economic benefit models, attracting the interest of a diverse population. The growing focus on these aspects by retail investors in 2021 has driven innovation in social networking, gaming, fintech, VR, AR, and more.
CZ is also optimistic that the global Cryptocurrency adoption rate will rise from the current 5% to 20% by 2022.
As an important innovation in the Cryptocurrency market, DeFi has become a phenomenal growth market. Even so, more than 99 percent of the world’s population remains unfamiliar with it. Cryptocurrency still needs to have a more widely recognized traffic portal to reach the vast majority of the world’s population. Among them, the most promising traffic portals are games and social media.
Social networking is one of the most prominent pillars of the development of the modern internet, connecting people around the world digitally. The emergence of social networks has changed the way most people communicate, and it has also brought great changes to the world’s business development. The attention and conversion rate of social media has become the key to the success of most Internet business companies.
Thanks to the advent of blockchain and Cryptocurrency, many industries are inventing new ways of operating, and social media is no exception. Now, a new hot concept in the Cryptocurrency market is SocialFi. SocialFi is the integration of social, web3.0 and decentralized finance. Users with social influence will get higher benefits. They will have more explicit control over their social privacy and social content, and can benefit from these.
One company leading the way in the SocialFi space is PlutusFi. PlutusFi is the first SocialFi ecosystem for the Social Trading space. Their ecosystem includes a Crypto-friendly Trading Information Exchange Platform, Trading Robot System, and Trading Community DAO.
One of the most important issues with cryptocurrencies is the number of scams that occur. Newcomers to the field feel threatened and insecure. Without sufficient industry knowledge, countless Cryptocurrency owners fall victim to scammers. Even though industry bodies and individuals provide additional information through various channels to help users invest, the risk of fraudulent activity remains high.
PlutusFi helps foster mass adoption by helping experienced influencers create diverse communities within their SocialFi ecosystem. By bridging the gap between users and industry expertise, the platform lowers the barriers to entry for new users through community education and community exchange. In addition to creating a user-friendly community management platform, PlutusFi also provides the functionality of Trading Robots and Trading Information Exchange.
Plutusfi is designed to empower Cryptocurrency trading communities by providing social trading convenience services through a B2B2C model, with the following product features: (1) Plutus NEXT, as easy as chatting to discover and post quotes；(2) Plutus BOT, creating trading robots with just one click；and (3) Plutus DAO, a one stop solution to helping trading KOL develop their own trading community.
PlutusFi is constructing a decentralized financial social platform and setting up the incentive mechanism for the financial community to join the platform, and making full use of the “node” advantage of the Key Trading Leaders (KTLs) in the financial communities.
Since the Trading community is made up entirely of crypto users, community management tools can facilitate the marketing of new Cryptocurrency, NFT and DeFi projects. PlutusFi’s range of crypto marketing and community building tools ensure that new blockchain-related projects flood into their ecosystem.
While many crypto-centric social platforms existed before PlutusFi, they did not live up to the expectations of the trading community when they were overly concerned with censorship resistance, free speech and data privacy.
SocialFi is a creative new way to monetize social interactions where users can unlock entirely new ways to interact with their communities and new blockchain projects. This is done by exploring virtual worlds created by combining social media and finance. PlutusFi uses technology and DAO management tools to help Influencers build their own socially vibrant Trading community, making it easier for new Cryptocurrency users to enter a space full of daunting Geeks.
Plutusfi was launched in 2021 as a social trading application designed to empower cryptocurrency trading communities by providing social trading convenience services through a B2B2C model, with various product features. Today, PlutusFi’s team, together with its users, work towards a common goal: the development of the PlutusFi network and the benefit from the rising value of PLUT tokens. PlutusFi can be found on plutusfi.io and on their social media sites on Facebook, Twitter, Instagram, Medium and Telegram.
