The SocialFi phenomenon that promised to revolutionize digital interaction has entered its steepest decline. Earlier this year, it became clear that many platforms in this sector are facing rapid dismantling, being acquired, abandoned, or losing their relevance entirely. This shift indicates a significant change in the landscape of social finance, with many projects struggling to maintain their user base and financial stability amid increasing competition and regulatory challenges. As a result, investors and users are becoming more cautious, and the future of SocialFi remains uncertain as the industry undergoes this difficult transition.