99% of users on Web3 social media platforms are clicking the exit button at first instance because the process of signing up and sticking around is too tedious and expensive, two execs say.
Despite the recent hype around riend.tech, some decentralized social networks are still having a tough time getting users to sign up and stay on their social media platforms.
“We've found that 99% of mainstream users will drop off at that first step, so simplifying this flow is mission critical.” Because users need to familiarize themselves with blockchain, smart contracts, and wallets before they sign up, they often shy away from taking the first step, Kakar explained.Catching up to the massive network effects that web2 social platforms such as Facebook, Instagram and X won’t be an easy task either.
Moss argues another reason why decentralized social media hasn’t hit the masses is because Ethereum and other smart contract platforms aren’t purpose-built to provide social media applications at scale.
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