Coinbase CEO Acknowledges Base App's SocialFi Experiment "Did Not Work Out"

BlockBeats News, March 4th, Coinbase CEO Brian Armstrong recently stated on David Senra's podcast that the SocialFi feature launched last year in the Base App "did not really succeed."

Armstrong said that the feature was originally just an experiment, but the actual effect was not as expected. Therefore, Coinbase has adjusted its product direction, refocusing the Base App on transaction functionality and self-custody wallet experience, making it more similar to a "self-custody version of the Coinbase app."

In July 2025, Coinbase will relaunch its non-custodial wallet Coinbase Wallet as the Base App, positioning it as an on-chain "super app" integrating social, messaging, gaming, and trading. The Base team leader, Jesse Pollak, had actively promoted the Creator Coin feature, allowing users to tokenize creator accounts or social content. Users can purchase related tokens through likes or interactions, providing creators with earnings.

Armstrong mentioned that during the SocialFi experiment, some posts generated thousands of dollars' worth on-chain, but the overall model has not yet developed into a sustainable product form.