In TradFi this initiative clearly has product-market fit:
➡️ One app had 29M users and $8.8B valuation in 2022.
Yet, it hasn't taken off in crypto so far due to complex UX/UI.
If done well, it's a BILLION DOLLAR idea.
How to get exposure to this EMERGING NARRATIVE?
🧵👇
Thesis:
Crypto apps that do social trading well can reach billion dollar valuations.
TradFi stats prove social trading has product-market fit.
It just hasn't been executed well in crypto.
Until now...
What is Social Trading?
It is a form of online trading that allows people to connect with each other and share their strategies and trades.
Via social trading platforms users can follow and copy the moves of other traders or share their own trades with others.
Benefits:
- Access to a wider range of strategies and ideas
- Ability to learn from more experiences traders
- Increased transparency: reliable information about traders performance
- Greater convenience: simple and powerful interface + automated process of copying trades
The mix of the above benefits helped eToro become a successful social trading platform.
Of course, strong marketing efforts and first-mover advantage played a big role too.
But social trading clearly has product-market fit and the growing number of users proves it well.
eToro key stats:
- $1.2B revenue in 2021, 103$ YoY increase
- 28.5M registered users in Q1 2022
- $8.8B pre-IPO valuation in 2022
Impressive, isn't it?
Can social trading apps be popular in crypto?
Absolutely!
The difficulty to separate the wheat (gud tokens) from the chaff (scams) is much higher in crypto than in TradFi.
It's extremely easy for newcomers to lose it all.
Social trading could protect them from many traps.
Now imagine a crypto app that offers:
- Social trading
- Simple and mobile-friendly UI
- Self-custody without the complexity of web3 wallets
- Easy access to on-chain liquidity on multiple networks
It's a recipe for a killer app that will boost crypto adoption.
Good news!
You don't have to wait for it because it's already live!
It's @NestedFi - a social trading platform for crypto.
With Nested you can onboard your mum into DeFi in 6 minutes and she will still maintain self-custody over her funds.
twitter.com/alpha_pls/status/1592934626628366339
This is my Arbitrum portfolio I created in Nested: app.nested.fi/explorer/arbi:6062/lwy2
Five tokens are up, one is down.
No option for me to cherry-pick top performers and brag about them while ignoring underperformers.
You can finally judge traders for their actions not tweets.
There are thousands of portfolios on Nested:
app.nested.fi/explorer
Use simple filters to find:
- Well performing portfolios
- Successful traders
Then: copy
Copying a portfolio is simple:
1. Click 'Copy' button
2. Enter the amount to invest
3. Confirm transaction
This is how your mum starts investing in DeFi.
Improved user experience will boost crypto adoption and Nested can easily serve an entire wave of new users.
eToro success proves social trading has product-market fit.
Nested is yet to become a killer crypto app but it's well positioned to become one.
twitter.com/korpi87/status/1594801480657031169
Bonus:
@NestedFi is having an ongoing airdrop campaign for early users.
Go and try the app: app.nested.fi/explorer
- Create / copy portfolios
- Try multiple networks
- Actively manage your portfolios
More details about the airdrop:
docs.nested.fi/general-information/airdrop
If you want to keep an eye on Nested, follow @alpha_pls who recently joined the Team as Head of Growth.
You will also find plenty of alpha on his profile and newsletter.
twitter.com/alpha_pls/status/1614689836769705988
Disclaimers:
I like Nested very much and I decided to enter a partnership with them.
I wouldn't do it if I didn't like or believe in the product.
I want to spread the news about this app because I want crypto adoption to progress.
The content and opinions are mine.