Since the advent of social media, the noticeable thing about social media is that it has introduced a new way of life to a lot of people using it. Since social media is like a virtual world where you can easily cook up things that look very real in the eyes of your friends, many perceive doing that will make them more acceptable in society. One of the major reasons why people fake their lives on social media is that they believe it will increase their social status and create a particular class for them in the society so that people can start seeing them in a particular way.
Another reason is that some see faking their true identity on social media as a good way to defraud people. There have been so many reported cases of people defrauded on social media just because they trusted people who later turned out to be fraudsters.