The investment company Franklin Templeton has shown positivity towards Ethereum's layer 2 scaling solution, Base, positioning it as a front-runner in the emerging SocialFi market segment.

As per Franklin Templeton's report from May, Base has captured a substantial share of SocialFi transactions, standing at 46%, surpassing the likes of BNB Chain and Polygon, despite their longer presence. Contributing to this growth is the endorsement from Coinbase, a cryptocurrency exchange, which initiated Base back in August of the prior year.

Franklin Templeton praises Friend.tech, a SocialFi application integrated with Base, as a prime example of the opportunities this sector presents. Friend.tech permits content creators to engage with their audience and earn income directly from their work.

Franklin Templeton views SocialFi as a significant factor propelling Base's future advancement, establishing Base as a key player in the layer 2 Ethereum environment.