Topic: SocialFi Discussion Thread (Read 122 times)
Bump.
Edit: It seems like people here aren't that interested about SocialFi just yet..
Seeing the emergence of dozens of Crypto related social media sites, I want to see how the majority of the people here thinks about it. I mean, where else can you get the best opinions in this industry than here where most of the crypto veterans are?
Sooner or later this topic will get talked about anyway so why not just start it now right? Besides, it just makes sense to question how blockchain and the emergence of web3 will disrupt social media networks in the near future and the challenges it will face since Social media has already become a big part of our lives already specially the younger generation.
And so, I am creating this thread having the sole purpose of talking about Socialfi and other social media sites that are slowly integrating crypto into their platforms, earning opportunities, effects, some personal experiences and more!
(Not gonna be very strict about this I only request everyone to please stay on the subject at least)
-I won't be starting this thread with explaining what SocialFi is though, since it is easily searchable. But still, for your convenience I'll be placing a link below that explains a bit about SocialFi.
I want to start with a hot topic like this one: "SocMeds(SocialFi) in crypto space vs SocMeds outside crypto space."
Nowadays, I've been seeing lots of social media sites that are related to cryptos popping out one after another which are composed of bad, good and great interfaces and functions. Most of these sites offers a lot of benefits to its users. Be it in terms of data ownership, earning tokens(altcoins) while socializing, built in NFT market place where you can create, promote and sell your NFTs or whatever.
Now with all of these new social media sites, with awesome new features you just have to ask yourself; - Why is it that people still refuse to leave instagram, twitter etc.? It really made me wonder and so I tried putting myself into their shoes(though it didn't fit that well 🤣) and tried to look at things in their perspective.
This is what I realized:
- They have dozens of contents already which took hours of work; blood, sweat and tears(on some content creators, literally). Which can be reuploaded but would have low chances of gaining as much traffic(views or reactions) as it did on where it was originally posted on.
- A well established fame and reputation on their respective handles(it would be a nightmare to start from zero again specially for the mediocre content creators).
- Lack of audience or content creators having the same interests in crypto related socmeds.
- They've gotten so used and comfortable on the platform they're in(not all but mostly)
- Most of the features they like in the platform they're in are nonexistent on the new ones or doesn't work in the same way making them uncomfortable.
- Lack of understanding of web 3 or crypto as a whole which isn't really that much of a problem since it is easily solved with research(The thing about this though is not every content creator or viewer has enough interest in this industry or enough time to actually spend hours in researching about how things work in this space).
- Lack of crypto mass adoption or fame(let's face it, we don't even have that much people who are a hundred percent active in this space yet. Good news though is that the numbers are gradually increasing).
These seven predicaments I have mentioned are probably the main reasons why these content creators and viewers refuse to transfer into new social media sites that are related to crypto currencies(SocialFi).
It doesn't get talked about much but this makes most developers that push for crypto related Socmeds to lose self-esteem and become less motivated for improvement despite having a well made platform. Which then leads to poor management and platform development. This then becomes another reason for hesitation of new users to migrate.
Now as for solutions, there aren't really much that I can think of that doesn't need mass adoption of crypto currency. And I reckon that most of the solutions that can be thought of out there have already been tried out at least once.
But still, doesn't this very fact make you more eager to find better solutions?
As for me, I think it would be nice to highlight or focus on the importance of contents/thoughts that makes way for groups of like-minded people with shared interests to interact and socialize, rather than focusing on complicated new features that most of the people unfamiliar with them may not and may find pretty tedious to understand. Besides, it's not like these new features can't be added/introduced gradually as mass adoption and community population and interest increases.
The main goal is to not bombard the new users with all these awesome new features that puzzles them to an extent that it makes them incapable to utilize and socialize comfortably with the community.
I get it, web3 is awesome and all but, what is awesomeness if the traffic you're after can't appreciate and utilize it at all? This just spells disaster.
This is just my opinion though so please don't hate.
How about you guys, what do you think?
let's get this conversation going, come share your thoughts or some of the solutions you can think of!
A link about SocialFi:
https://medium.com/ixfi/socialfi-what-is-it-and-how-does-it-affect-social-media-as-we-know-it-8c28c023a00d#:~:text=SocialFi%20(an%20abbreviation%20of%20social,not%20controlled%20by%20a%20middleman.
Seeing the emergence of dozens of Crypto related social media sites, I want to see how the majority of the people here thinks about it. I mean, where else can you get the best opinions in this industry than here where most of the crypto veterans are?
Sooner or later this topic will get talked about anyway so why not just start it now right? Besides, it just makes sense to question how blockchain and the emergence of web3 will disrupt social media networks in the near future and the challenges it will face since Social media has already become a big part of our lives already specially the younger generation.
And so, I am creating this thread having the sole purpose of talking about Socialfi and other social media sites that are slowly integrating crypto into their platforms, earning opportunities, effects, some personal experiences and more!
(Not gonna be very strict about this I only request everyone to please stay on the subject at least)
-I won't be starting this thread with explaining what SocialFi is though, since it is easily searchable. But still, for your convenience I'll be placing a link below that explains a bit about SocialFi.
I want to start with a hot topic like this one: "SocMeds(SocialFi) in crypto space vs SocMeds outside crypto space."
Nowadays, I've been seeing lots of social media sites that are related to cryptos popping out one after another which are composed of bad, good and great interfaces and functions. Most of these sites offers a lot of benefits to its users. Be it in terms of data ownership, earning tokens(altcoins) while socializing, built in NFT market place where you can create, promote and sell your NFTs or whatever.
Now with all of these new social media sites, with awesome new features you just have to ask yourself; - Why is it that people still refuse to leave instagram, twitter etc.? It really made me wonder and so I tried putting myself into their shoes(though it didn't fit that well 🤣) and tried to look at things in their perspective.
This is what I realized:
- They have dozens of contents already which took hours of work; blood, sweat and tears(on some content creators, literally). Which can be reuploaded but would have low chances of gaining as much traffic(views or reactions) as it did on where it was originally posted on.
- A well established fame and reputation on their respective handles(it would be a nightmare to start from zero again specially for the mediocre content creators).
- Lack of audience or content creators having the same interests in crypto related socmeds.
- They've gotten so used and comfortable on the platform they're in(not all but mostly)
- Most of the features they like in the platform they're in are nonexistent on the new ones or doesn't work in the same way making them uncomfortable.
- Lack of understanding of web 3 or crypto as a whole which isn't really that much of a problem since it is easily solved with research(The thing about this though is not every content creator or viewer has enough interest in this industry or enough time to actually spend hours in researching about how things work in this space).
- Lack of crypto mass adoption or fame(let's face it, we don't even have that much people who are a hundred percent active in this space yet. Good news though is that the numbers are gradually increasing).
These seven predicaments I have mentioned are probably the main reasons why these content creators and viewers refuse to transfer into new social media sites that are related to crypto currencies(SocialFi).
It doesn't get talked about much but this makes most developers that push for crypto related Socmeds to lose self-esteem and become less motivated for improvement despite having a well made platform. Which then leads to poor management and platform development. This then becomes another reason for hesitation of new users to migrate.
Now as for solutions, there aren't really much that I can think of that doesn't need mass adoption of crypto currency. And I reckon that most of the solutions that can be thought of out there have already been tried out at least once.
But still, doesn't this very fact make you more eager to find better solutions?
As for me, I think it would be nice to highlight or focus on the importance of contents/thoughts that makes way for groups of like-minded people with shared interests to interact and socialize, rather than focusing on complicated new features that most of the people unfamiliar with them may not and may find pretty tedious to understand. Besides, it's not like these new features can't be added/introduced gradually as mass adoption and community population and interest increases.
The main goal is to not bombard the new users with all these awesome new features that puzzles them to an extent that it makes them incapable to utilize and socialize comfortably with the community.
I get it, web3 is awesome and all but, what is awesomeness if the traffic you're after can't appreciate and utilize it at all? This just spells disaster.
This is just my opinion though so please don't hate.
How about you guys, what do you think?
let's get this conversation going, come share your thoughts or some of the solutions you can think of!
A link about SocialFi:
https://medium.com/ixfi/socialfi-what-is-it-and-how-does-it-affect-social-media-as-we-know-it-8c28c023a00d#:~:text=SocialFi%20(an%20abbreviation%20of%20social,not%20controlled%20by%20a%20middleman.
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