Bluesky, a decentralized social network, has begun rolling out new features including cashtags and LIVE
badges for its application, according to recent reports. This update arrives amidst a notable increase in the platform’s app installations, which coincides with ongoing controversy surrounding the X platform’s Grok AI model and a subsequent investigation by California’s Attorney General. The new functionalities aim to enhance user engagement and potentially attract individuals seeking alternative social media environments.
Bluesky released its v1.114 update, which includes the widespread availability of LIVE Now
badges and the introduction of cashtags. The LIVE Now
badge, which was previously in a limited beta since , allows Twitch streamers to add a temporary indicator to their avatar that links directly to their live stream. Cashtags enable users to facilitate discussions around publicly traded stocks by using a dollar sign followed by the stock ticker symbol, such as $AAPL for Apple. This feature has been a staple on other platforms, including X, and was popularized by Stocktwits.
The introduction of these features on Bluesky aligns with a recent surge in its app installs. According to data from Appfigures, daily iOS downloads for Bluesky in the U.S. increased by nearly 50%, rising from approximately 19,500 installs between , and , to 29,000 installs from to . This contrasts with a typical baseline of around 4,000 daily iOS downloads. This recent growth follows a period of decline for Bluesky; Appfigures data showed downloads dropped to multi-year lows by , and Similarweb reported daily mobile users plummeted nearly 40% by . Wikipedia also notes that daily active users fell from 2.5 million in to 1.5 million by .
Bluesky‘s feature rollout appears to be a strategic move to capitalize on the recent user dissatisfaction and regulatory scrutiny faced by X. The platform aims to enhance its appeal to users, particularly those who might be seeking alternatives due to content moderation concerns or a desire for new functionalities. The challenge for new social networks often lies in overcoming switching costs
, which refer to the various economic and psychological costs incurred when users move from one service to another. As the Electronic Frontier Foundation (EFF) states, Software locks, API restrictions, legal threats, forced downgrades and more – these are why Big Tech stays big. Collectively, these are a way to create high “switching costs” and high switching costs are the way to protect the dividends from network effects – to get big and stay big.
Despite this, periods of controversy on dominant platforms can create windows of opportunity for competitors.
Specific timelines for Bluesky‘s potential support for additional streaming platforms beyond Twitch for its LIVE Now
badge remain unannounced.
The introduction of new features and the recent surge in downloads present an opportunity for Bluesky to expand its user base and foster greater engagement. The platform’s ability to retain these new users will likely depend on its ongoing development, community building, and how effectively it differentiates itself from established social networks. Meanwhile, the legal and ethical implications of on platforms like X are expected to continue evolving, potentially influencing user migration patterns across the social media landscape.
Users considering new social media platforms should evaluate the privacy policies and content moderation practices of each service. Individuals concerned about should report any instances of misuse to the relevant platform and, if necessary, to legal authorities. Users are advised to verify the authenticity of information and images encountered on social media, especially those that appear to be AI-generated. Regularly review and adjust privacy settings on all social media accounts to manage personal data exposure. Engage with platforms that align with personal values regarding content freedom and user safety.
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