Web3 - The Future of Social Media
Social media has drastically transformed since Dave Woolley and Douglas Brown introduced Talkomatic in 1973. It has continuously evolved, from Six Degrees in 1997 by Andrew Weinreich that set the stage for modern social platforms, to life-altering networks like Myspace in 2003. Many today might not grasp how much has changed. We've witnessed the rise of Facebook (2004), YouTube (2005), X - formerly known as Twitter (2006), Instagram (2010), Snapchat (2011), TikTok (2016), and Threads (2023). Social media keeps growing and adapting. This article will discuss emerging blockchain-based social media platforms.
Blockchain technology is introducing new kinds of social media platforms. These platforms promise personal data ownership and direct monetization of your content, starting from your initial post. This article will explore the world of Web3 social media platforms and their value, sustainability, and potential impact on the future of social media. We will go over these questions and more. So, grab a cup of tea and let's explore the expanding universe of Web3 social media platforms. The world is changing, and I believe social media is the steppingstone into this connected future. When I say social media, I am not talking about your normal social media platforms like Facebook and Instagram. I am talking about something new. Something that gives us our freedom back.
Check out the video above for a visual walkthrough of all of these platforms and a little more in depth look into my thoughts on the future of Web3 social media platforms.
What is Web3?
Let's dive into what Web3 is all about and why it matters, especially when we talk about social media, gaming, and finance. This brief explanation of Web3 will hopefully help you understand what Web3 is and why I think it is so important.
Web3 is the next phase of the internet that is decentralized, breaking away from the centralized control seen in Web2 by major tech companies. It relies on blockchain technology to create this decentralized environment.
With Web3, people have full control over their data, online identities, and interactions. This new model is supported by decentralized systems and encryption methods. Blockchains like Ethereum and DAGS (Directed Acyclic Graphs) like Tangled are key to this foundation, enabling smart contracts and dApps.
Web3's approach to social media aims to solve problems we see today — privacy issues, content restrictions, and misuse of user data for profit. On Web3 platforms, users could own their data, earn crypto for contributions, and help govern the platforms themselves.
It's important to note that Web3 is still in its infancy, with many aspects being figured out as we go. However, what makes it exciting is its promise for a more empowered, transparent, and fair internet where users are at the helm.
This all sounds promising, but questions remain about its sustainability and how it compares to Web2 social platforms. Will Web3 reduce censorship or end up more controlled by a handful? It's too early to predict Web3's impact on openness and freedom. For now, I'll share my take on why this technology might revolutionize our engagement with social media, gaming, and finance. Blockchain has broader potential, but to keep things short, I'll concentrate on its effects on social media.
Social media has emerged as one of the most effective ways to connect with each other and stay updated on our friends and family. Nowadays, many people even rely on social media as their primary source of news. These platforms have become powerhouses, capable of shaping our identities and influencing our thoughts. However, social media is currently dominated by a select group of elites who wield significant control over its content. As one of the greatest comic book characters once said, "With great power comes great responsibility." I believe these groups are abusing their power, pushing their beliefs and ideologies onto the world. This manipulation not only threatens our freedom of thought but also stifles diverse perspectives. In this evolving digital world, it's important for us to seek out decentralized alternatives that empower individuals and preserve the integrity of our shared online spaces.
Why is Web3 Important?
A good number of people are probably wondering why Web3 is so important and why so many people are talking about it. In this section I would like to go over my thoughts on the matter and why I think Web3 is one of the most important digital upgrades of our time.
Web3 is important because it offers a new way of interacting with the internet, one that is more democratic, transparent, and user centric. Web3 platforms are built on blockchain technology, which allows for peer-to-peer transactions without intermediaries or centralized authorities. This means that users can directly control their data, identity, and assets online, without relying on third-party platforms that often exploit them for profit or censor them for political reasons.
Web3 could change the way we use social media and finances by enabling new forms of value creation, distribution, and exchange. On Web3 social media platforms, users can earn crypto tokens for creating or engaging with content, and use them to access premium features, tip other creators, or join communities. Unlike Web2 platforms that extract value from users and give them little in return, most Web3 platforms reward users for their contributions and incentivize them to participate in the governance of the platforms. Web3 social media platforms also offer more privacy and security, as users can choose who can access their data and how it is used.
Web3 could also transform the way we use finances by allowing us to access decentralized financial services (DeFi) that are open, inclusive, and efficient. DeFi is a term that refers to various financial applications that run on blockchains, such as lending, borrowing, trading, investing, and saving. DeFi platforms enable users to interact with each other directly, without intermediaries or brokers, and offer lower fees, higher returns, and more flexibility. DeFi platforms also democratize access to financial opportunities, as anyone with an internet connection and a crypto wallet can participate, regardless of their location, identity, or credit history. Now I am not saying rush over to your computer and start investing. I am just trying to explain why I think this technology is so important and how it could help us get out of these financial woes the world has been dealing with for decades.
Web3 is not just a technological innovation, but a social and economic one. It has the potential to reshape the way we communicate, create, and collaborate online, and to foster a more fair, diverse, and vibrant internet culture. However, Web3 also faces many challenges and risks, such as scalability, usability, regulation, security, and education. Web3 is still a emerging and experimental space, and it will require a lot of work and collaboration to realize its vision and values. As users, creators, and stakeholders of the internet, we have the opportunity and responsibility to shape its future and ensure that it serves the common good.
In the following section, I will review some of the Web3 social platforms that I find most appealing. I will give my candid opinion on why I think they will transform Web3 and become some of the leading names in decentralized social media. I will include my referral links for these platforms, but that does not mean I will ignore the drawbacks of these platforms. I do this because writing is my only source of income. I support Web3 and the decentralization it offers.
Web3 and Social Media
In this section, I will explore some of the Web3 social media platforms that are currently available or in development. Some of the platforms I will review are Tangled, Torum, Grill, HIVE, Nostr, and many more. I will share my personal experience and opinion on using these platforms, as well as their pros and cons, features, and potential.
Tangled (MLX/WMLX)
Stay tuned and remember to follow my YouTube and follow me here to get notified when I post new videos and articles.
Torum (XLM)
Torum is another one of my favorite web3 social platforms. It has been around for a couple of years and I have enjoyed using it. It is fairly easy to use and has a decent sized community. You can earn XTM just by being active on the platform and completing daily, weekly, and one-time missions. The thing about this platform is that it is going to change in the not-so-distant future. They are creating Torum 2.0 which is going to be different than what it is today. To learn more about this check out my video at the beginning of this article or click here. The only problem with this platform is that it will be changing. I think every platform has to evolve but this platform is going to be focusing on a more video focused platform and you have to have an NFT to participate. I am not sure about the new earning part of Torum but I am excited to see what it ends up being.
Grill (SUB)
Grill is one of my favorite platforms. Grill uses the Polkadot blockchain and allows you to earn SUB tokens from participating on the platform. The only problem with this is that you need to own and stake SUB to be able to participate in earning. The more you stake the more you can earn. I believe in this platform and the community is strong so I am taking my chances. I have staked a little over $60 worth of SUB and I am going to be here for the long term. I am not sure about the future of Grill but I like the way it works and the strong community. Check out the video below to learn more about Grill.
Solcial (SLCL)
Solcial is another good web3 social platform. It is easy to use and allows you to earn from being active. The only problem with Solcial is that it is another stake to earn platform. What is good about this though is that you can stake and not even participate. You just need to come on the platform once a day and claim your rewards. You earn a base 20% APY from your stake but you can also earn an extra APY from participating in the platform. To learn more about this platform watch the video below.
BULB (BULB)
BULB is not really a web3 social platform. It is a blogging website that uses blockchain technology. The reason I added BULB is because it is not your usual blogging platform. It also allows threads which in a way qualifies it as a social platform. I created a video about this platform as well, but it is a little outdated. It goes over a good amount of what the platform offers but there have been some huge updates since I made it. I plan on making a new one in the coming weeks. There is so much to go over when it comes to Web3 earning platforms but so little time. I will get to it though.
These are only a few of the Web3 social platforms that are available, but these are the ones I have found to be the most rewarding and user friendly. I will share a small list below of other Web3 social platforms that are available. I will not be giving pros and cons on these platforms because I do not know much about them, but I still think it is good to share these platforms, so people have the chance to do their own research and see if they are worth the time.
New Bitcoin City
I do not use New Bitcoin City anymore because it was not for me but it looks interesting. To be honest I am not even sure if it is still around. If anyone knows more about this platform leave a comment and let me know.
Ecency (HIVE)
The HIVE blockchain is huge and has so much going on. Ecency is just one of the many social aspects of HIVE. I do not use HIVE at the moment, but I do have an account and I plan on using it again in the future. I just have so much going on with the first three platforms I shared I do not have time for anymore. If I did have time, then HIVE would definitely be another one I would use. The only problem is that there is a learning curve when it comes to this blockchain and there is just so much going on.
DeSo (DESO)
DeSo is an awesome project that has a small true user base. The platform is easy to use but it is hard to earn from using it. You do not earn from just using the platform. Other users must tip you, so it makes it extremely hard to get noticed. There is so much more to DeSo though. It is a highly sophisticated platform, and I would use it again but do not have the time and ran into some issues with bots and spam. It also seemed to me the only way to earn from this platform is if you are in a small circle of big users that share rewards and tips with each other. If you are not a part of that small circle, then you will not earn. This is just my opinion. It might end up being different for you. I suggest always do your own research and try platforms and see if they work for you.
Nostr (BTC)
Nostr is awesome and using the BTC lightning network. There are different instances of Nostr from my understanding. It is open source, and anyone can build onto it so that makes it so there are so many different platforms that can be used. Right now, I use ZBD which is a BTC lighting network earning platform. You can earn free BTC from playing small games and the platform also has a social aspect to it. I suggest checking it out for sure. I make around $5 a month just playing games and using the social part of it.
The future of social media and Blockchain
One of the main advantages of Web3 social media platforms is that they give users more control over their data, identity, and content. Users can decide how to store, share, and monetize their online presence, without being subject to the whims and policies of centralized platforms. Users can also benefit from the network effects and incentives of blockchain technology, which reward them for their participation and contribution to the platform.
However, Web3 social media platforms also face some challenges and limitations, such as scalability, usability, and adoption. Blockchain technology is still evolving and improving, and it has not yet reached the level of performance and efficiency that Web2 platforms offer. Web3 platforms may also require users to have some technical knowledge and skills, such as managing crypto wallets, keys, and transactions. Moreover, Web3 platforms may struggle to attract and retain users who are used to the convenience, familiarity, and popularity of Web2 platforms.
The future of social media and blockchain technology is uncertain and exciting. There are many possibilities and opportunities for innovation and disruption, as well as risks and challenges. I believe that Web3 platforms have the potential to create a more democratic, transparent, and user-centric internet, where users can express themselves freely and fairly, and where value is distributed more equitably and efficiently. However, I also recognize that Web3 platforms are not a panacea, and that they may encounter some problems and drawbacks, such as technical issues, regulatory hurdles, and social dilemmas.
That's why I think now is the best time to start transitioning over to Web3 social platforms and getting away from the more well-known Web2 platforms. By doing so, we can support the development and growth of Web3 platforms and help shape their direction and vision. We can also learn and experiment with new ways of interacting and creating online and discover new possibilities and opportunities. We can also protect our data, identity, and content from the exploitation and manipulation of centralized platforms and reclaim our online sovereignty and agency.
I hope this article has given you some insight into Web3 social media platforms, and why I think they are worth exploring and adopting. I encourage you to check out some of the platforms I mentioned and see for yourself what they have to offer. You might be surprised by what you find, and by what you can do. Web3 is not just a technology, but a movement and a mindset. It's a way of reimagining and reinventing the internet, and our role in it. Join me in this journey, and let's make the internet a better place for everyone.
Final Thoughts
Web3 social media platforms offer a new way of engaging with the internet, one that is more decentralized, transparent, and user centric. They also enable new forms of value creation, distribution, and exchange, that reward users for their contributions and participation. However, Web3 social media platforms also face some technical, regulatory, and social obstacles, and they may not be able to compete with the established and popular Web2 platforms in terms of performance, usability, and adoption. Some Web2 platforms are trying to implement blockchain and cryptocurrency into them such as Telegram and X to name a few.
Web3 social media platforms are still in their early stages, and they have a lot of room for improvement and innovation. As a user, creator, and stakeholder of the internet, I am excited and curious about the potential and possibilities of Web3 social media platforms, and I hope to see them grow and evolve. I invite you to join me in exploring and experimenting with Web3 social media platforms, and to help shape their future and impact.
Thanks for reading. Please like, follow, and comment to help me grow. I do giveaways on Tangled for most of my articles and videos. If you are not using Tangled yet, then click the link below.
Tangled — Pay me Internet (DAG technology) — social media (Earn MLX)
Torum — Earn XTM using social media (BNB) — social media (Earn XTM)
Bulb — Earn BULB blogging (SOL) — Blogging — (Earn BULB)
Grill —Earn SUB using social media (DOT) — (Earn SUB)
Check out my website for all my content and to learn more about Crypto! There are so many
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