SocialFi is socialized finance, which is a combination of “social” and “finance”. It is also known as “social to earn”. SocialFi is trying to transfer the traditional social economy to a decentralized world. The general public can earn more assets in the crypto space with the support of decentralized finance and token economics. Benefits will boost when NFTs get access to the game.
Essentially, SocialFi is the next evolutionary step in blockchain-based social media. It leverages all the benefits of the blockchain while adding non-fungible tokens (NFTs) and DeFi services.
In the early planning of ApolloFi, we have tried to change the current social status through “Social+DeFi”. Social can be partly owned and managed by their users, as community tokens allow people to vote on proposals and decide the future of the project. Simply speaking, the user is the owner.
We will give full play to the user’s subjectivity under the cold start of tokens, users and content creators can directly make profits from publishing and sharing contents. Social influence is tokenized, meaning users are given valuable incentives to post quality content that will generate traction.