So, many new technologies were created on top of that ‘good’ system.
Proof-of-stake, Proof of authority, Proof of weight, and many more.
They are re-centralizing a decentralized system to hold monetary value (not digital cash, since that’s another topic).

Finally, when we mix a social network/media/platform with all those abstract technologies developed in the last 15 years to hold monetary value, we are in a crazy world of unfulfilled promises, but which people want.
I understand why that exists. Why generative AI is a trend now. Why Crypto was told as a future, and such.

So, answering the question:

How many people truly believe blockchain social networks are the future?

I think there is a significant amount of people. I saw it at events and conferences. If many people believe in that, and somehow benefit from it, it’s enough to start a movement. I’ve seen that in traditional streaming, video game stores, Roblox, and many more.

I think that Social media is toxic enough when attention and personal information are sold in exchange for a fun platform, and a free way to get in contact with friends and family.
But also it’s a tool for companies, big and small to sell stuff, which starts as something good, a way for small creatives to earn money from their craftsmanship.
But as has been discussed, soon an enshittification process begins.

As if likes, upvotes, hearts, and subscriptions weren’t narcissistic enough, let’s make people think someone wants to pay them with crypto to view their random posts online.
I’m with you on this idea. It could be a pyramid. But the promise of earn real money also happens with traditional platforms (Meta, TikTok and such).
When real money (or crypto money, or worthless digital points) is in the equation, strange behaviors start to appear in creators and followers.

In this kind of exercises, I like to propose some alternatives.

Perhaps instead of using TW/FB with my students, I could motivate them to join twtxt, run their own servers, and host their own data.
Teaching them how to make money without the dependence of giant corporations, which is not easy, but it’s feasible.

Well, that’s all that was on my mind, but it’s always an interesting topic to discuss with my friends while we drink a beer 🍻 or a good wine 🍷. Cheers!