SocialFi App Farcaster’s Activity Spikes After Launching Frames Feature

Activity on blockchain-based social media app Farcaster spiked over the weekend after the launch of its “Frames” feature.

The Optimism-based platform registered more than 10,000 daily active users over the weekend, and has been on a consistent uptrend surpassing 73,000 total users, according to a Dune Analytics dashboard.

Driving activity is the protocol’s new Frames feature which has become the talk of the town across the crypto ecosystem.

Frames allows developers to embed interactive “experiences” in its posts, also known as Casts. Users can mint NFT’s, build casinos and games, or insert instant checkout links directly from their feeds without switching platforms.

According to growth metrics platform, Spindl, 313 apps launched 526 Frames since the feature was made available on Friday. Reactions to users' casts are also spiking, according to data on Farcaster's Dune dashboard.

SocialFi Trend

Farcaster has been taking full advantage of the SocialFi trend taking place across the crypto ecosystem. Last year, Friend.tech dominated user activity, and even Bitcoin took a stab at the action with its own version, dubbed Frens Protocol.

The app currently only allows for U.S. numbers or users to pay for a fee to register. According to the protocol’s co-founder, Dan Romero, there are 50K paying users as of Jan. 28.

Launched in 2020 by Dan Romero and Varun Srinivasan, Farcaster is touted as a “sufficiently decentralized” protocol. According to Srinivasan, a social network reaches sufficient decentralization if it allows two users to connect and communicate, even if there is a third party trying to prevent it.

The platform resembles Twitter, and doesn’t use crypto for onboarding. In-app, however, crypto powers tipping and other payment options, along with a blockchain back-end.