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⛓️ Crypto🔴 BearishImportance 6/10
Coinbase CEO Brian Armstrong says Base App’s SocialFi features ‘didn’t quite work’
🤖AI Summary
Coinbase CEO Brian Armstrong acknowledged that Base App's SocialFi features, including Creator Coins, failed to gain traction and have been discontinued. The noncustodial app was relaunched last year with social features but Coinbase has since phased out these elements.
Key Takeaways
- →Coinbase CEO Brian Armstrong admitted Base App's SocialFi features 'didn't quite work' as intended.
- →The Base App was relaunched last year with social features including Creator Coins that have since been removed.
- →This represents a setback for Coinbase's efforts to integrate social elements into their cryptocurrency platform.
- →The failure highlights ongoing challenges in the SocialFi sector despite significant investment and development.
Read Original →via The Block
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