Base’s founder admits a social strategy mistake and hands back app leadership

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Deep Tide TechFlow news: On July 17, according to Cointelegraph, Base founder Jesse Pollak admitted that he made a strategic error on social products, handing control of the Base App back to Coinbase, with crypto investor Jordan Fish (Cobie) taking over. Pollak said that Base had bet that creator tools and on-chain social could drive mainstream adoption, but the relevant demand “completely collapsed.”

Data from Dune Analytics shows that Base-native prediction market Limitless accounted for only 0.5% of the monthly prediction market nominal trading volume in July. Pollak said Base therefore fell behind competitors in key areas such as perpetual futures contracts and prediction markets, and the network will prioritize developing trading, payments, stablecoins, and AI tools.

COIN-4.03%
LMTS0.02%
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