We are told that sharing is caring, but when does sharing become carelessness, or when do you start to receive paid for the effort you put into the stuff you are sharing?
Today, let’s discuss the general atmosphere on social networking platforms. Meta, a global leader in social networking formerly known as Facebook, has more than 2.9 billion users. According to CNBC, Meta is the owner of three of the most popular social media platforms: Facebook (now Meta), Instagram, and WhatsApp.
However, as more members of Gen Z move to interactive, motion-driven platforms like TikTok and Snapchat, it has come to be associated with the older generation. Instagram is doing better because everyone needs a place to post their selfies. As discussed at the CIO conferences, it quietly reached 2 billion users every month.
As these businesses grow, they put more and more emphasis on revenue generation, which either results in consumers being inundated with advertisements or influencers suffocating us with pointless content that finally gets so obnoxious we need a digital detox.
The promise to keep us connected has turned into a connection with the obnoxious brands we wish to avoid.
It’s amusing for a while because of the consistent feeds filled with selfies from acquaintances, enemies, celebrities, and even companies. But how much do you get paid for the weekly hours you spend using these platforms? Sorry, but you’re compensating them with a number of small advertisements that draw readers to your content.
This is brilliant in terms of marketing and soul-crushing for anyone who wants to see a society where everyone is treated fairly and equally. If these insanely unfair, algorithm-driven platforms continue to separate people based on their likes, dislikes, and engagement metrics, the gender equality difficulties that businesses are facing today are simply the beginning of what’s to come.
Now, I’m not saying that gathering this information is a terrible thing. In actuality, it will occur whether through governmental bodies, businesses, or private citizens. However, giving users greater control and accountability over their own actions ultimately gives platforms more agency.
The Web3 environment today contains some instances of this.
Encouraging creators to produce high-quality work
Fiachra Ward, the founder of Waivlength, is committed to creating a world where creators come first.
The ultimate objective is to build a space that will connect the next generation of the internet that is safer, more autonomous, and more user-centric. Large financial incentives for users, extensive verification, decentralized components to enhance privacy and data security, unique gamified features, and its social consensus system are all special qualities that enable this, according to Ward.
When the top producers use web3 social media app development as their primary source of income, according to Ward, they start to place restrictions on the content that they are ready to publish for public consumption.
“Top creators who need to make money from their work are less inclined to share their work on popular platforms that provide no financial reward. This implies that the quality of the stuff we see on Facebook and Twitter will probably continue to decline.
This frequently entails adhering to prevalent consumerist methods that involve publicly praising or promoting goods. Contrary to their principles, innovators are frequently compelled to sell out on a portion of their personality in order to succeed, says Ward.
Resistance Against Censorship
Since its inception, one of the top social platforms in the Polkadot ecosystem has emphasized the necessity of a decentralized approach to social networking. Alex Simon, the founder of Subsocial, firmly believes that creators should have control over their own destinies.
In order to enhance revenue, create content discovery engines, and provide white-label solutions for decentralized social media hubs, Subsocial collaborates with dApp developers and content producers.
Simon recently stated that “Decentralized social networks allow for censorship-resistance while yet having moderation functions” in an article with CoinCodex. For instance, on Subsocial, any dApp created on top of the platform has access to all content, but they are not required to display it all.
Access liberates global inventiveness.
The challenge for DeSo, a new layer-1 decentralized social blockchain, is how to realize the potential of the globe and abandon the outdated, centralized method of creating social apps.
“We essentially have five firms in charge of everything we see and do online. Nadar Al-Naji, CEO of the DeSo Foundation, says, “And we’re over here trying to determine which billionaire we want to censor us.
Al-Naji believes “Putting Warren Buffett in control of the finances was not the answer to the problem of financial system centralization. It was to be entirely redesigned and made decentralized using technology, specifically bitcoin. We believe that blockchain technology is the solution in social as well, which needs the same renovation.”
He correctly notes that Facebook and Twitter started out as open networks but that, prior to the advent of blockchain technology, they weren’t very monetizable.
To scale decentralized social applications to 1 billion people, DeSo has set an ambitious goal.
“Instead of a tiny group of people managing a top-down or centralized organization, decentralization actually unlocks the creativity of everyone in the entire planet. As an illustration, you got more innovation and DeFi in two years than perhaps in the previous fifty years of banking when you had Ethereum up and running and allowed anyone to build on top of that open financial platform.”