Investment giant Franklin Templeton has been optimistic about Base, an Ethereum layer 2 scaling solution, claiming that it’s gaining a considerable stake in the emerging SocialFi (Social Finance) market.Â
According to a May report by Franklin Templeton, Base had a share of almost half (46%) of all SocialFi transactions, which was better than BNB Chain or Polygon which have been existing longer, says the report. This impressive growth is partly due to the backing of cryptocurrency exchange Coinbase, which started Base in August of last year.
The report highlights Friend.tech, a SocialFi app built on Base,is the one that shows how great the possibilities are. Friend.tech allows creators to interact and to monetize their work directly with the audience.
According to Franklin Templeton, SocialFi looks like a “driving force” for the future growth of Base, with Base at the forefront of the multiplayer layer 2 Ethereum space.
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