Steemit is not out of steam: How the SocialFi app still powers crypto adoption in Africa
- Steemit had over 100,000 Nigerian users at its peak between 2017 and 2018.
- Users could earn up to $2.11 for a day's work on Steemit.
- Influencers hosted physical meet-ups in Nigerian cities to teach others about the platform.
While Steemit provided a unique opportunity for users to monetize their content, the decline in user engagement and the emergence of competing platforms highlight the challenges of sustaining interest in SocialFi applications. The platform's future may depend on its ability to innovate and address user concerns effectively.
