Social media is undoubtedly the lovechild of the WorldWide Web. It has grown from an ATH of 1 million users when the first social site was launched in 1997 to over 4.65 billion today.
Users around the world interact with numerous social platforms in diverse ways. In this article we’ll discuss:
- What Are Social Media Platforms?
- Why Social Media Platforms Are Being Integrated With The Blockchain
- Decentralized Social Media Platforms
- Media Platforms On Ethereum
- Media Platforms On Algorand
- Media Platforms On Solana
- Are There Any Web3 Social Media Platforms?
What Are Social Media Platforms?
Social media platforms are interactive platforms where people can connect, share memories, and build relationships. They can take on a variety of forms, including photo-sharing platforms (Facebook, Instagram, etc), blogs and microblogs (WordPress, Twitter, etc), forums, business networks, social gaming, chat apps (Whatsapp, Wechat, etc), and social networks.
Social media has become the go-to place for information, entertainment, and even research. Over the years, social media usage has evolved to allow marketers to get comprehensive analytics and target their adverts to their preferred audience.
The uses of Social media are endless and though there are cases of misinformation dominant in the space, statistics show that the average user spends 147 minutes daily on social media platforms.
Why Social Media Platforms Are Being Integrated With The Blockchain
The traditional social media platforms are restrictive and regulate the interaction between users.
Posts could be deleted, restricted from being shared to certain areas, or the user could be banned completely.
The blockchain provides a tool for users to interact freely with little or no regulations from central authorities. It is also an immutable public ledger which makes it impossible to erase user content.
Integrating social media platforms with blockchain technology would make for greater transparency, ownership, and liberality among users.
Decentralized Social Media Platforms; What Are They?
This is the general name for social interaction platforms built on the blockchain or that integrates the blockchain technology.
One of the oldest and most popular platforms is Steemit, a platform that pays users per vote on articles they publish.
There are many today who came into the blockchain space because of their experience with Steemit.
More and more similar platforms have emerged where users can interact or carry out social activities to earn Crypto rewards.
Categorizing the best 10 decentralized social media platforms according to their respective blockchains, we have…
Top 3 Media Platforms On Ethereum
Ethereum is notable for being the first blockchain that allowed developers to build on it by executing smart contracts.
Ethereum is also vastly recognized for its Name Service offer where users can get personalized domains in their name on the Ethereum blockchain.
Many projects under different categories have been built on the infrastructure. Here are the top 3 in the Media category:
Audius is a music streaming app where every artist can upload their works for free and share them with fans in real-time. It allows artists to hear directly from their listeners and provides fans with high streaming quality content at 320kbps.
The app has over 100k downloads on Play Store, over 700,000 active users monthly, and 1 million users streaming per month.
Both artists and fans get paid $AUDIO tokens for their activeness and engagement on the app.
This is a unique program run by Ethereum, similar to Google Adsense but more decentralized. To enjoy Ethereum Ads, websites have to include the Ethereum Html Snippet on their sites, allowing Ethereum to match ads to their site based on their content and visitors.
The ads are created and paid for by advertisers who want to promote their products but advert space would be provided by Ethereum’s network of publishers(websites).
Ethereum pays as high as 90% commission to these websites and payments go directly to users’ wallets.
Search engines are an integral part of our daily lifestyle. This is because they give you access to a wealth of information on the internet.
Brave Browser is no different but has a distinct feature that separates it from a Crypto browser. Unlike other crypto browsers that are created as extensions to existing browsers e.g Metamask, Brave browser can be downloaded on mobile devices and PCs.
It has an inbuilt crypto wallet where users can trade or store their crypto assets. The brave browser also rewards users for viewing ads with their native token $BAT.
Top 3 Media Platforms On Algorand
Algorand is the blockchain of the season. From its carbon-negative qualities to its low fees and scalability, it continues to be an innovation-friendly infrastructure that projects want to build on.
Here are the top 3 media platforms on Algorand:
Kollektor is a new project that allows users to sell digital art as NFTs on existing social platforms like Instagram. Users would be able to sell from wherever they are on social platforms of their choice.
Loozr is an emerging music platform. In their own words, Loozr is a decentralized platform that mixes music streaming, and tokenization with speculative investing.
Similar to Spotify or SoundCloud, it is all-inclusive and allows creators, artists, celebrities, upcoming musicians, and labels to launch their own music and profile tokens.
These tokens can be traded on the blockchain or held by users.
Think of 2i2i as a virtual meeting space where hosts and guests can have 1-on-1 live video meetings. Everyone can use the platform as a guest or a speaker.
You basically earn every time that you interact with your followers. Guests would offer coins in exchange for meetings and Hosts can get better value for their time
Top 3 Media Platforms On Solana
Solana is the fastest Blockchain and the fastest-growing ecosystem in the crypto space.
The high performing Blockchain has top projects building on its infrastructure but the top 3 in the media category to watch out for are:
This is a decentralized social network built on Solana that allows users to share content without censorship.
Creators earn based on the value they offer to their followers. This value is measured by interactions and engagements on their posts.
Code offers users a job recruitment platform. With code, job seekers can join the Code community and have access to job postings on the platform.
Efforts in community building are sometimes difficult to measure in the crypto space. With Viraverse, token creators can build a portal of expected requirements that users can do to earn rewards.
Since user activity can be rewarded in real-time, community building would grow faster and projects can build a large network in less time.
Are There Any Web3 Social Media Platforms?
Yes, there are Web3 social media platforms. One recently recognized by Cointelegraph is Appics.
Appics is a reward-based social media app that allows all users to earn a fair share of the overall revenue. The reward token used by Appics is APX.
Social media remains a crucial part of our daily lifestyle and the Blockchain technology makes it easy to interact transparently and without censorship.