Web3 socials are the next big thing. Why do we need them?
May 30, 2022
Web3 socials are the next big thing. Why do we need them?
2022 is going to be a year of web3 socials — new-generation apps built for those who want to take control over their social media profile and own the content they create.
Let’s see how blockchain-based social media platforms might become the next big thing in web3 and why we need them.
Why should we care about decentralized social media?
Centralized social media apps have remained relatively unchanged over the last couple of years: your social profile and the data you share don’t belong to you. As well as the content you post. You can’t vote on the new features or try to overcome new policies. All you can do is adapt to changes, even if you don’t agree.
Everything you create and publish online is owned by a company. Anyone can be blocked by the platform, regardless of how many users you have and what content you post. The platform representatives don’t even bother to explain to you the reason for the ban, like with what recently happened to the Bankless YouTube channel.
Another threat to your web2 social media account is your country’s government. The precedents in India and Russia have shown that authorities can just ban any social media apps if they decide to do so. Hence, our social media accounts are controlled by the company and by the government, not by us.
On social media apps built for users, no one cares about what these users really want. With millions of people over the world suffering from unpleasant moments of centralized social media, there is a need for an alternative platform to preserve free speech and ownership. Here’s when web3 socials come into play, offering a decentralized and user-focused interface.
The big idea behind socials built on blockchain
Web3 socials, like literally all web3 apps, are here to make peer-to-peer interaction decentralized, open, and accessible for everyone. The big idea is to give people more control and autonomy over their social media accounts, instead of having Facebook, Twitter, and other apps monitor content and determine what is right or wrong.
How web3 platforms can empower individual sovereignty:
by giving people control over their social identity.
Web3 social media apps bring equal opportunities for all users
Web3 apps aim to return full ownership of content to creators, allowing them to take advantage of a variety of monetization opportunities while also rewarding users for their continued participation and patronage.
Without the need for centralized platforms or intermediaries, this builds healthy ties between creators, users, and companies.
New possibilities, however, bring with them new responsibilities. How will we manage hate speech and improper content within the new, decentralized networks if we accomplish censorship resistance? This is a problem that has yet to be solved.
We believe that the new generation of social media apps will be a foundation for a powerful decentralized ecosystem fuelled by the community.
One of the pioneering decentralized social media platforms is the Lens protocol, a “permissionless, composable, and decentralized social graph that makes building a Web3 social platform easy.”
About Lens Protocol
Lens was introduced in February 2022 by the developers of Aave, a popular lending protocol. Lens is based on the Polygon blockchain, which is a decentralized application network that is safe, low-cost, and environmentally sustainable.
The Lens protocol is an open-source technology stack that lets developers create web3-native social media programs, marketplaces, and recommendation engines.
Traditional social media apps demand personal information to create an account, but the Lens Protocol uses crypto addresses and NFTs to authenticate users. Rather than handing this control to a centralized company, this setup process allows consumers to own their content and personal data.
So far, some 50 applications have been created on Lens, including social apps and monetization tools for creators. One of them is Lenster, a decentralized and permissionless social media app where you can post, share, and collect content, as well as join interest-based communities, and discover other Lens profiles.
Circle — the Discord for Web3
Another project that is building the ultimate social platform for web3 natives is Join Circle.
Circle founders, Eshan and Satvik are building a new space for web3 communities focusing on seamless experiences, security, and organic conversations. The only available platform for that right now is Discord, however, it’s far from perfect. It’s not native, it was never built for us, and it just lacks all the things we need today, says Satvik.
The new solution from the Circle will be more than a Discord for web3. It’ll be every single tool and platform that Web3 interacts with, all rolled up into one.
Tapx is excited to join the Circle XYZ solution and can’t wait to try it out. For now, however, we have to use Discord, so join us there.
We’re happy to see the web3 social media movement is blooming and growing since they are making web3 more accessible for an average internet user. Designed to bring back the power to users and creators, the web3-native social media apps will become a paradigm shift in how we engage with each other and share content online.
Our digital identity is completely under the hands of centralized social media apps.
Alternatives to these apps are Web3-native apps, which emphasize ownership and decentralization.
By providing content creators full ownership of their content, Web3 social networks will return power to the community.
These social networks will aid in the creation of censorship-resistant and creative-centric ecosystems that provide equal possibilities to all participants.
We’ll see a huge shift in web3 use once web3 equivalents to Twitter and Instagram become popular.
Lens protocol is at the forefront of the web3 social media trend, providing an open-source tech stack that enables developers to create web3-native social media programs.
Circle XYZ is creating the ultimate social platform to bring web3-native communities closer together.