Topic: What is your take on Social Media platforms on the Web 3? - page 2. (Read 236 times)

Well I have been active some years ago (2016/17, I think) on Steem(it), which was one of the first platforms of this type. It went well first, but look where they are now ... nobody speaks about them anymore.

The problem is that Steem(it) depended very much on the "tokenomics" of the system (scarcity and abundance both on the right place, one could say), and the fact that the founders had deep pockets, which they used to generate a hype, being able to collect investors money and propel the platform to the Top10 on coin ranking platforms like Coingecko or CMC. But people post on such platforms primarily to earn money. This is not bad per se but on Steemit there was not really a genuine user base. Once everybody had optimized their earnings and the price fell, the hype was over very fast.

@anonymint, a former Bitcointalk user, had some interesting ideas about a possible blockchain based social media protocol, based on the "inverse commons" model (a theory by Eric Raymond, in reality it's the "inverted tragedy of the commons"), where the users generate, together, something like a genuine "value" for visitors without being dependant on the "earning" feature. He never implemented it though, to my knowledge. If the OP's project is able to achieve this, the platform perhaps may succeed.

I haven't heard of them, but will do some research. Xenwave uses more or less the same principle, but with a few more perks incorporated into it, as it also has built-in DeFi support and we will be adding NFT support soon.


It's already operational, though in very early stages. Could you have a look and give us some feedback? https://xenwave.com

Welcome i have always wanted to see a highly decentralized social media paletform where members will have that freedom to take control of their privacy and also activities,  so for sure web 3 will definitely create that bridge that will link both freedom and control for the user.
Many of us have been on the lookout for development of such a platform and i am glade that you have co.e up with this, so i am looking forward to see more positive outcome from all of this.

Have you heard about Quarashi? It's a Web 3 wallet, if I'm correct. I bought their token long ago, and the team developed something like an anonymous social media platform where the wallet users can chat and communicate with one another. There is no personal information needed; you can connect using either a wallet address or a designated username, and the chat is very secure and encrypted.
 
If that's the kind of web3 social media that you are proposing, then I will say it will be a good one, but it won't gain popularity as not everyone likes wallet connections in order to chat, and not everyone is also an advocate of privacy to the next level. Another factor that people could consider before venturing into it is the speed at which it will be used to convey a message to the next person and data safety.

In my opinion this has been a long-overdue. We are currently working on Xenwave, a Web 3 application with a social-media spin that allows users to share and communicate using just their Web 3 wallets, and are interested to know what is the broader community's take on both the need for such platforms in the first place, but also on the features that would make them attractive to the crypto and Bitcoin communities.