Cheelee: A Case Study in the Rise of SocialFi

SocialFi, a rapidly growing segment of Web3 focused on monetizing user attention within a social media ecosystem, is poised to reach USD 3 billion in value by 2033. This sector challenges traditional platforms by distributing rewards directly to users through token-based incentives, allowing them to profit from their engagement rather than simply being exploited for advertising revenue. However, the industry faces several hurdles, including difficulties onboarding non-crypto users and the risk of large-scale fraud. This often leads to unstable tokenomics in projects that have struggled to sustain long-term ecosystems. Cheelee is a SocialFi platform attempting to overcome these challenges while upholding the fundamental promise of rewarding attention.