What is your take on Social Media platforms on the Web 3?

[restratagem]

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.

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[Orpichukwu]

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.

[Odusko]

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.

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.

[restratagem]

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.

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.

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.

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.

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

[d5000]

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.

[restratagem]

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, 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 see, but the question I ask myself is why it always has to be about the money? What we are trying to do is just there for the actual use-case, so users don't generate any money by using it, and they also don't have to buy any tokens to do so. I'm not familiar with the platform you have mentioned, but just by what you said there it looks like that might have been the primary cause of their demise.

[Saisher]

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.

Do you mean is this the site https://xenwave.com/#/feed it looks interesting the feature looks complete now, It is better that you create an announcement here, and launch a marketing campaign for more awareness, we now have over 90 web3 https://www.alchemy.com/best/web3-social-media-dapps and many of us are not fully aware of the existence of these web3 social media platform, will you launch your own token and will you offer a reward system for those who are actively sharing content on your platform, I'm looking forward to your official launching here.

[restratagem]

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.

Do you mean is this the site https://xenwave.com/#/feed it looks interesting the feature looks complete now, It is better that you create an announcement here, and launch a marketing campaign for more awareness, we now have over 90 web3 https://www.alchemy.com/best/web3-social-media-dapps and many of us are not fully aware of the existence of these web3 social media platform, will you launch your own token and will you offer a reward system for those who are actively sharing content on your platform, I'm looking forward to your official launching here.

It's been announced already https://bitcointalk.org/index.php?topic=5482163.msg63523046#msg63523046 - and we also have a token too. There's more info in the website and in our discord, but right now I'm mainly looking for feedback so we know how to steer the development to make it not only useful for us, but to attend the expectations of our users. We are in just 2 developers, so as you can imagine, we will probably need some help with marketing in the future and expand the team once we get more users and volume.

Any feedback on the overall app proposition? You can connect with it using Metamask and adding the Bitnet Network, connection params below:

Name: Bitnet
Symbol: BTN
RPC: https://rpc.bitnet.money
Network ID: 210
Explorer: https://btnscan.com

[d5000]

I see, but the question I ask myself is why it always has to be about the money? What we are trying to do is just there for the actual use-case, so users don't generate any money by using it, and they also don't have to buy any tokens to do so.

Why does it then need web3 / cryptocurrencies support?
Ask yourself very honestly how many users your platform would have if there was no way to earn money there.
If you get at least a partial answer - i.e. that your platform has some USP which drives at least a part of the users to contribute more value than they can "extract", and not only for a short time - then you may have a winning and sustainable concept.
I don't think this is impossible, only that it is not trivial. I actually would love to see such a platform working really.

Even Bitcointalk, technically a quite "primitive" social platform, would have less users if there were no bounty campaigns. But imo they have managed to preserve a status where the value generated (in terms of content) is higher than the value extracted by those using it for the money. Those who come here find a lot of useful information, and at least the english section ranks quite well on Google too. However, that has of course to do with its historical value as Satoshi's forum. And a new platform must find something which can replace this USP.

On Steemit, it seemed for a short time that such a value could have been generated, as it lasted a little bit longer than most hypes from that time. For some time in 2016/2017 there were some interesting blogs there to read, and interesting discussions, which also ranked on Google bringing in more visitors. But then the hype eventually waned and the problems of the "economy" of the platform became more evident every day. I think if it was a bit more decentralized then it could have been a sustainable success.

[restratagem]

I see, but the question I ask myself is why it always has to be about the money? What we are trying to do is just there for the actual use-case, so users don't generate any money by using it, and they also don't have to buy any tokens to do so.

Why does it then need web3 / cryptocurrencies support?
Ask yourself very honestly how many users your platform would have if there was no way to earn money there.
If you get at least a partial answer - i.e. that your platform has some USP which drives at least a part of the users to contribute more value than they can "extract", and not only for a short time - then you may have a winning and sustainable concept.
I don't think this is impossible, only that it is not trivial. I actually would love to see such a platform working really.

Even Bitcointalk, technically a quite "primitive" social platform, would have less users if there were no bounty campaigns. But imo they have managed to preserve a status where the value generated (in terms of content) is higher than the value extracted by those using it for the money. Those who come here find a lot of useful information, and at least the english section ranks quite well on Google too. However, that has of course to do with its historical value as Satoshi's forum. And a new platform must find something which can replace this USP.

On Steemit, it seemed for a short time that such a value could have been generated, as it lasted a little bit longer than most hypes from that time. For some time in 2016/2017 there were some interesting blogs there to read, and interesting discussions, which also ranked on Google bringing in more visitors. But then the hype eventually waned and the problems of the "economy" of the platform became more evident every day. I think if it was a bit more decentralized then it could have been a sustainable success.

The Web3 support brings the pseudo-anonymity behind it, making the platform not need to store any personal information about the users but a confirmation of their DOB to make sure they are 18+ and I believe that that by itself is already an appealing reason to work with a decentralized infrastructure. Further to that, there's also a multitude of features, such as creating permanent posts that can be converted into NFTs and stored permanently on chain, offering greater integration with crypto-driven payment methods and so on. The list is quite big, and to me the value generated to users can be great, even though there might not be direct financial compensation involved.

Xenwave also seamlessly integrates financial tools, such as its own decentralized exchange, we are working in integrating NFTs into it in the near future, allowing phone calls, and dms, and all of that combined makes up for a powerful platform that allow users to make more, do more, and socialize more. It opens a new spectrum of possibilities for online work, offering a framework where users can generate value through its range of integrated modules - say through trading, NFTs, or even direct productivity using Zara (our integrated UI) - while being able to seamlessly communicate with their team and community. It is also a step further towards creating non-kycd digital identities and reputation systems that can open all sorts of doors in the future.

Might sound overly ambitious, but that's what we are aiming for nonetheless.

[Hispo]

My problem with social media as part of the step forward to the Web 3.0 is the fact people who are not familiar with the use of Wallets and crypto are pretty much already comfortable with centralized services which are moderated by the staff of those services, being Twitter/X the biggest example of it.
Also there is an important factor which prevents the massive migration of people from a platform to a new one: nobody wants to start from the beginning, with zero followers or fans in a new social media, that is one of the reasons Elon Musk has managed to keep much of his user numbers untouched by his choices on the administration of the social media. If some alternative to Twitter (being web 3.0 or not) could offer some way to verify people in their new platform/product and migrate all their followers history to their new account (so they won't start from the very beginning) they would feel more encouraged to try new social media and perhaps learn how to use asymmetric cryptography and wallets to sign their messages.

I have also gotten the impression people does not cake about their own privacy as much as they are supposed to, web 3.0 could help with that issue, but sadly it has become a market without much demand

[restratagem]

My problem with social media as part of the step forward to the Web 3.0 is the fact people who are not familiar with the use of Wallets and crypto are pretty much already comfortable with centralized services which are moderated by the staff of those services, being Twitter/X the biggest example of it.
Also there is an important factor which prevents the massive migration of people from a platform to a new one: nobody wants to start from the beginning, with zero followers or fans in a new social media, that is one of the reasons Elon Musk has managed to keep much of his user numbers untouched by his choices on the administration of the social media. If some alternative to Twitter (being web 3.0 or not) could offer some way to verify people in their new platform/product and migrate all their followers history to their new account (so they won't start from the very beginning) they would feel more encouraged to try new social media and perhaps learn how to use asymmetric cryptography and wallets to sign their messages.

I have also gotten the impression people does not cake about their own privacy as much as they are supposed to, web 3.0 could help with that issue, but sadly it has become a market without much demand

It is a niche application indeed, but I believe that there's still a case to be made on why to use Web 3 - see my last reply.

There's no real way to "import" followers etc, because the followers might not be registered in the new platform, and even if they are, there would not be a good way to link profiles from one platform to another because they might use different handles, web 3 wallet addresses (in the case of Xenwave) etc, so that would have to be a manual task, which can easily become unfeasible and uneconomic.

I think the goal of a Web 3 social media platform should not be necessarily to take down the big centralized ones - say Twitter, Facebook, etc - but instead to cater to the niche community of Web 3 users that do give a damn to their privacy and like the idea of having a platform to express themselves while also being able to handle their other crypto dealings.

Did you see how we have structured Xenwave? Any thoughts or feedback?

[DapanasFruit]

 
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.

Yes, and getting people to use the platform and be popular is a big factor for a Web 3.0 social platform to survive and flourish into the future. I think it is fair to say that many have tried to take on the big and expanding social media market and I am not sure if anyone of them can still be alive. One thing for sure, even with the many good benefits of Web 3.0, it is so difficult to fight for the attention of the people and have them regular used new entrants to the market. Let's hope one or two can make it and be big but for now it is not happening.

[sunsilk]

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.

Most of the social media nowadays have what people need and from there, if you can think of some additions that will click to the users then what would that be?

So typically, with these web 3 social medias, they're like having integrated wallets for their users and then the usage is just the same. Having that is an advantage if the users and targets are into crypto but how can you increase the users number with those people that are not yet into it?

But to give an idea, most users don't want to use complicated applications and platforms for social media like sites.

[slashz9]

I think it's nothing more than just talk and an ordinary feature, maybe at first people will feel curious but in the end it will be normal, at the local exchange where I am there is a chat room feature that allows people to trade and talk via the chat feature, not very interesting in my opinion.

[cryptoaddictchie]

Why does it then need web3 / cryptocurrencies support?
Ask yourself very honestly how many users your platform would have if there was no way to earn money there.

Of course gotta be low. Maybe the best answer is for practical reason like they needed money and if some social apps or web has something privilege about it of course they gonna grab that. I like facebook and twitter as it is before but since monetization are introduced for everyone, we can see some content creator that rises sometimes you can noticed that they just made it foe engagement of course its paid.

[naikturun]

I think a wallet that has a chat facility will be entertaining at first, but what is the use other than that, I think people will still communicate using WhatsApp rather than a wallet that can interact using chat.

[o48o]

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.

These have existed already, like steemit, which was the closest working example imho. People are just not interested on them as they are mainly about competition of rewards, voting circles for people rewarding each other, bots for rewards and stolen content instead of people creating anything worth while. We have ton of hurdles to solve in normal social medias already, and adding distributed ledger to it doesn't bring anything imho. It doesn't solve anything important, nor it make posts more immutable and permanent, and when you think of it for 2 seconds, why that would ever be a good option anyway.

If you want to write something resistant and permanent, you can already put it on bitcoin blockchain. But i don't see why that would be a good idea.

[Bitco55]

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.

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.

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.

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.

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

Haven't heard of Xenwave or others either, might carry out research..but I just want to get something straight, are they exchanges where you can get tokens or we are talking about a literal social media. If we're talking about a literal social media, then how do you get tokens from such platforms ?

[GreenStox]

something new, I think people will welcome it, but do you think something like that will last long?
or you have to think about other things that make your project idea survive.