What happened to Stars Arena?
A few months ago there was a big hype about Stars Arena which is a fork of the Friend.Tech platform on ETH. It was hyped at the time as a decentralised social media platform that tokenised your presence, I guess similar to what we have on Hive but in a different way.
The main differences were though that it was on Avalanche and it should therefore be easier and cheaper to create an account without ETH. I managed to get a referral at the time from @Doze and we wanted to see if we could promote Hive there and I wanted to also see how the platform evolved.
The great thing about Stars Arena is that you can register and signin using web2 such as your twitter login.
When you first login, you can see your social media feed from people you have bought tickets for and any news they have shared. I am only following Doze since all this time and you can see that you can only really share Twitter-esque short-form content. There hasn't been any development in this area at all since the launch by the looks of things.
Apart from writing status updates that you can pretty much do on any social media app without buying follower access rights, there is nothing else to do here. There are some options for Airdrops and referring other users, but thats about it. It is a big wonder what all the hype was about.
The hype seems to have come from being able to buy and sell tickets to the most popular accounts and make money this way. Even though you can follow your favorite or top priced Stars Arena members anyway.
The top selling Influencer ticket costs 21.9 AVAX which is around €734. I am not really aware of any usecase for actually buying these tickets yet or if there is any circular economy created to make it worth while, but I doubt it.
Shortly after launch, which didn't do the adoption any favors, there was an exploit hack and over $3m was drained from Stars Arena. You can read more about it here.
It seems Stars Arena was aiming to be a sort of BAYC copy where people could tokenise their accounts and somehow grow some value but it seems to have faded as fast as it came.
What is your experience with Stars Arena?
Thanks for reading.
Credits:
Title image created with image from source. Screenshots from my Stars Arena account source
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Never tried it, it always looked like a rug pull from the beginning. Same with friendtech or whatever the other one was that came out at the same time. Actually I think Stars Arena was a rip off of the other... Stuck with Hive, the one that works...
Yes, they both looked suspiciously like pump and dump schemes from the off! Hive is a working decentralised social media platform, no tickets required!
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No experience. 😎
As I don't have a big X account (or any other Web2 account), I have ignored most of those platforms and clones... IMO, all were pure hype without any long-term vision... At least, I didn't see the vision and how it can be sustainable...
Yes, they were all pretty predictable and how it would end. Anything involving ETH which requires transaction fees is also a no-go for me too!
I did heard about it but never got the chance to try it. The hype seems short lived and I totally forgot about it. I think the exploit hack was the nail on the coffin for the project.
Yeah, I think once it got hacked it was game over for it tbh. $3m was quite abit to be drained!
I’ve never heard about it before
Thanks for sharing
I’d check it out!
Thanks for checking it out.
Wow I never knew about stars arena before reading this article.
Thanks for checking it out.
I heard about it but never had the opportunity to try it out. Now I've read your experience and thoughts. I doubt if it is worth trying out.
Yes, it is probably not worth it. I have earnes some AVAX, but not much.
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Thanks for bringing this platform to our notice. I will probably check it out. May I ask the crypto coin that it is built on?
It is Avax, you can earn a little by using it.
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@sirenahippie says - This information is very interesting. Thanks for sharing.
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Thanks for checking it out.
@mypathtofire you're most welcome
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