Ethereum co-founder Vitalik Buterin said crypto-based social networks have largely failed because they focused on financializing attention rather than improving online discourse. He argued that token incentives often encouraged spam, speculation, and short-term engagement instead of meaningful interactions. According to Buterin, many projects prioritized growth metrics and monetization over building healthier digital communities. He suggested future crypto social experiments should reduce financial incentives, emphasize user experience, and focus on governance models that support trust, authenticity, and long-term community value.