**[Coinbase CEO Admits SocialFi Experiment on Base App "Did Not Work"]** BlockBeats reported on March 4 that Coinbase CEO Brian Armstrong recently stated on David Senra's podcast that the SocialFi feature experiment launched last year on the Base App "did not truly succeed." Armstrong explained that the feature was initially just an attempt, but its actual performance fell short of expectations. As a result, Coinbase has adjusted its product direction, refocusing the Base App on trading functionality and self-custody wallet experiences, making it closer to a "self-custody version of the Coinbase app." In July 2025, Coinbase relaunched its non-custodial wallet, Coinbase Wallet, as Base App, positioning it as an on-chain "super app" integrating social, messaging, gaming, and trading functionalities. Jesse Pollak, head of the Base team, had previously promoted the Creator Coin feature, which allowed users to tokenize creator accounts or social content. Users could purchase related tokens by liking or interacting, generating revenue for creators. Armstrong noted that during the SocialFi experiment, some posts generated thousands of dollars in value on-chain, but the overall model still failed to form a sustainable product structure.