My thought happens to be what if a social media app management like Facebook decides to launch its own cryptocurrency? (A currency that is decentralized as Bitcoin as well as it having other properties and functions than meets the eye and qualifies as investment worthy or trade worthy coin.)
How would it look like if other social media apps follow suit and start launching their own cryptocurrency too?
Facebook initiated Libra/Diem. It is a failure and we barely heard about it right now.
The main question is what are the use cases? Can we be sure those centralized monopolistic platforms are able to develop a cryptocurrency that competes with Bitcoin decentralizedness? I doubt so. There is no utility if popular social media create their own cryptocurrency, there are no motives that pressure them, they should make it. So the chance they would make cryptocurrency is very unlikely. Besides, there is no significant benefit for them by creating a cryptocurrency.