Sam Bankman-Fried: Social Media “A Big Different” for Solana

Sam Bankman-Fried: Social Media “A Big Different” for Solana

Bankman-Fried mentioned crypto social media, GameFi, and looming regulations at Solana Breakpoint.

Conceal portray by Eva Marie Uzcategui/Bloomberg.

Key Takeaways

  • Sam Bankman-Fried has urged that Solana could perchance perchance change true into a hub for crypto gaming and social media.
  • Bankman-Fried made the comments at Solana Breakpoint in Lisbon earlier nowadays.
  • The billionaire has been a proponent of Solana in the previous and praised its high throughput capabilities.

FTX CEO and identified Solana imply Sam Bankman-Fried spoke with optimism about the blockchain’s capabilities for GameFi and social media at Breakpoint nowadays.

Sam Bankman-Fried Discusses Solana’s Future 

FTX CEO Sam Bankman-Fried believes that Solana could perchance perchance change true into a truly important hub for gaming and social media.

Bankman-Fried mentioned the scheme forward for the blockchain in a panel dialogue with Coindesk’s Zack Seward and FTX.U.S.’ Head of Contrivance Tristan Yver at Solana Breakpoint earlier nowadays. Both Bankman-Fried and Yver talked about their vision for FTX in the route of the talk, explaining that they were “surely furious about a series of things” and hoping to bring “world-class products” to their individual destructive. They moreover mentioned FTX’s aggressive marketing technique, which has considered them partnering with the likes of Tom Brady and Gisele Bündchen, and the regulatory panorama surrounding crypto in the U.S.

FTX has shared discontinuance ties with Solana in contemporary months, recurrently supporting Solana-essentially based completely mostly tokens and launching a marketplace for Solana NFTs by task of FTX U.S. Bankman-Fried, too, has been an especially vocal proponent for the high-velocity blockchain. In the route of the panel dialogue, he spoke about how Solana could perchance perchance profit from the growth of the so-known as “GameFi” home. He said that gaming on the blockchain will be vital because gaming is already one among “the most horny things on the earth” alongside things like bread and chocolate. He then added that it used to be which you can assume of that “⅔ of all crypto users” will be onboarded by task of gaming in the arriving years, and the sphere, therefore, affords “a surely compelling cost proposition” for blockchains like Solana.

Bankman-Fried moreover mentioned the probability of social media involving on-chain one day. He said that he thinks social media on the blockchain “will be completely astronomical,” earlier than explaining that he thinks Solana is the completely community for it to be built on because it’s at inform the completely platform that has sufficiently high throughput capabilities. Crypto social media is “a big opportunity, and one that’s real for Solana,” he said.

Bankman-Fried isn’t the completely crypto personality who’s seemed into the chances of decentralized social media; in July, Vitalik Buterin mentioned how Ethereum could perchance perchance act as a destructive layer that could perchance perchance allow users to claim possession of their identity, including that the community “has to enlarge” previous DeFi. Aave founder Stani Kulechov has moreover talked about building “Twitter on Ethereum” as a exchange to centralized social media platforms.

Disclaimer: On the time of writing, the author of this fragment owned ETH, AAVE, and several other diversified cryptocurrencies. 

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