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Social Finance

social-finance

No longer lonely, finance gets to party Traditionally, finance has been a personal affair. Think of your bank account, pension plan, or ETF holdings: they are solely yours. In the best case, they cover your spouse or immediate family, but that's it. Currently, change is brewing. Finance is about to get a lot more social - both competitive and collaborative. The history of social finance Today we are used to managing finances individually, this is how we work with banks. But there are some notable historic, and current examples of social finance. Rotating savings and credit associations These are trust-based savings groups in which everyone pays in regularly and a single member receives the payout. This is repeated until all members have been paid out. Known as "Tandas" in Latin America, but popular globally, these rotation savings groups are valuable for people cut out from banking loans, provide a guard against inflation, and an important social outlet. Investment Clubs People have always invested in groups, but these started to formalize around the 1900s. In 1995 35,000 were estimated to be in existence, likely to be more today. Getting together regularly and making investments is an opportunity to grow your wealth, a hobby, and a social event all in one. Throughout the 20th and early 21st century most people's interactions with finance has largely been at an individual level. The two examples listed above still rely heavily on trusted networks, making them difficult to scale. Even as web2.0 drastically changed our relationship with media, our financial relationships, by and large, remained the same. Perhaps with the exception of crowdfunding. In the last couple of years, change has been brewing. We have entered a new age of social finance, facilitated by a number of trends in the crypto space. Let's unpack these now. Digital Profiles DAOs Play to Earn Gamified Finance Digital Profiles We are now able to build up a public profile or persona on-chain. The more we interact with blockchains, the more valuable this profile becomes. Users can collect NFTs and derive scores all from their wallet addresses. is a great example of this. This score is now considered by some projects in their hiring process, as it proves hands-on experience with DeFi, verifiable and on-chain. Degenscore is another application that helps users build up their on-chain profile. Users complete a range of tasks with popular blockchain applications and level up in the process. Rabbithole (non-fungible tokens) are also used to build upon chain profiles, is an NFT minter which creates tokens for conference attendees, community call participants, open-source contributors, and many more. (Ethereum Name Service) is also an NFT, but one that lets you name your address, personalizing your profile even further. NFTs POAP ENS As well as building your reputation, digital profiles provide more immediate benefits in the form of airdrops. There have been many airdrops over 2020–21 which rewarded a solid digital profile with previous on-chain interactions. Projects such as are working on credit ratings based off your on-chain history. Arcx DAOs We couldn't write about the evolution of social finance without mentioning DAOs (decentralized autonomous organizations). These have come a long way from the original exploited DAO back in 2016. It's a big topic, gives more context, but the important take-away is DAOs are exploding. From investment DAOs such as , to protocol DAOs, collector DAOs such as , and inclusivity focused DAOs like , all DAOs manage at least a basic treasury and many significantly more. Already, there are 100 DAOs managing over $10billion in assets together. We expect this to skyrocket significantly over the next few years. Packy McCormick's essay MetaCartel Ventures the LAO PleasrDAO MetaGammaDelta DAOs allow online communities to manage money in a way that was previously not possible. Members can vote on decisions ranging from where to invest, key development decisions and new member approval, etc. DAOs operate in a crypto native, international environment (note there are legal and tax implications of participating in a DAO, and none of this article is legal advice of course). Rather than setting up a local investment club with your old school friends, you can now form an investment DAO with your global online friends. DAOs are discord groups that evolve into business entities! Running a DAO is not necessarily straightforward, but there are a number of tools that do make it easier: - Gnosis Safe multisig wallets for holding funds - Coordinape tools to compensate DAO contributors - Tally governance proposal explorer - DAOhaus no-code platform to launch and manage DAOs Play to Earn Games, where users can 'play to earn' assets of real value, are growing in popularity. with a million daily users and $5 million daily revenue, is an example of this type of game. The appeal is clear, earning a real income from playing a game. If they are good, players can earn $435 a day or more, a significant income particularly in countries such as the Philippines where Axie is popular. Other examples of play to earn include and . Blurring the boundaries between work, games, and finance; these play-to-earn games have a clear social element. Axie Infinity The Sandbox Aavegotchi Gamified Finance Just as 'play to earn' games are bringing elements of finance into gaming, gamified finance does vice versa. This has been a trend in fintech for quite a while. But DeFi is uniquely placed to explore gamified finance in a social setting. is a good example of this, users can win large sums in a non-loss-on-chain lottery. Pods in PoolTogether allow players to group their funds together, increasing the likelihood of them winning. PoolTogether The project I am working on , is another crypto native example of gamified finance. Users join a saving pool with the goal of making regular deposits, our smart contracts move these deposits on to Aave on Polygon where they generate extra income (we will plug into a wider range of DeFi protocols in the future). At the end of the pool, every player that made all deposits gets a slice of the interest generated. Players who missed a deposit still get their principal back, making it a "no loss" game. GoodGhosting In conclusion The four trends of digital on-chain profiles, DAOs, play to earn and gamified finance, are leading to a landscape where finance is becoming less siloed and individual, and more social. DeFi is one big global multiplayer game. As the industry evolves, with more collaborations, and applications built on top of this composable ecosystem, this trend will escalate and evolve in ways we cannot currently imagine. To recognize this industry trend, has launched (GoodGhosting is a founding partner). Visit this for more information. Just as social media revolutionized the way we interact with news and information, social DeFi is creating a new wave of experiences with money. Mask Network The Social DeFi Alliance blog 🥳 Finance has been been a solo affair for too long, let's invite our friends to the social DeFi party!

From Personal to Social Finance

Phaver, a leading multi-protocol social application operating on Lens Protocol and Farcaster, has announced the launch of its native token, Phavercoin, with the ticker $SOCIAL. With a user base exceeding half a million, Phaver becomes the first mature application in its ecosystem to introduce a native token. The premarket for $SOCIAL is now live on Aevo, with spot listings scheduled across multiple exchanges, including Bybit, starting September 24. The $SOCIAL token is engineered to capture and redistribute value in a meritocratic manner to the platform's contributors—its users. Phaver aims to create an environment where creators can monetize their content directly, and users become both owners and beneficiaries of their social interactions. This model seeks to redefine the traditional dynamics of social media platforms by aligning incentives between the platform and its user base. "Social media is one of the few clear value exchanges in the internet world," said Joonatan Lintala, CEO and co-founder of Phaver. "Creators, curators, and moderators generate value for the audience, and the audience's attention and engagement are also valuable. Unlike many 'x-to-earn' models, it's possible to establish a sustainable token economy in SocialFi that rewards those creating value and monetizes attention and premium features without resorting to unsustainable practices." To address the prevalent issue of bots and multi-account farmers that often afflict crypto projects and social apps, Phaver has implemented a validation process for all airdrop recipients. This process includes a privacy-safe facial scan or an assessment of the credibility of their wallet contents, resulting in a user base composed of genuine participants. Early adopters will receive a 4% "Phairdrop" on the Base network during the Token Generation Event (TGE). Additionally, 25% of the total token supply is reserved for monthly Points-to-Tokens redemptions, ensuring that both early users and newcomers are incentivized and fairly rewarded for their contributions. Phaver's platform uniquely combines aspects of Decentralized Social (DeSoc) and Social Finance (SocialFi). The Phaver Supergraph enables seamless posting on both Lens and Farcaster protocols, allowing users to back up their social graphs and content in decentralized storage where they retain ownership. This approach mitigates the risk of accounts being deleted by centralized entities or governments. On the SocialFi front, Phaver introduces gamified experiences that facilitate faster audience growth and fair compensation for valuable contributions. Users will have access to gasless transactions within the mobile app, supported by a built-in wallet for functionalities such as tipping, gated content access, gamified boosts, and item collection. Future Developments and Features Following the token launch, Phaver plans to enhance its SocialFi offerings significantly. Upcoming updates include: Web3-Era Advertising Model: In partnership with Spindl, Phaver will introduce an opt-in advertising system where users are rewarded with points for participating. Users can also share ads with their followers and receive a share of the revenue. This model emphasizes privacy-safe, wallet-based targeting without invasive tracking.
Phaver Perks: The platform will offer various partner benefits to validated users, ranging from airdrops to discounts.
Expansion of Utility NFTs: Phaver will continue to develop its collection of native utility Non-Fungible Tokens (NFTs), which play a crucial role in the ecosystem. The latest offering, Cred Passes, is currently mintable on OpenSea until the TGE. These NFTs provide an efficient pathway for users to attain higher levels on Phaver, unlocking the potential for greater token rewards in monthly redemptions. Addressing Sustainability in the Token Economy Phaver emphasizes the sustainability of its token economy by avoiding the pitfalls commonly associated with "ponzinomics" in the crypto space. By monetizing attention, premium content, and offering additional visibility or premium features, Phaver aims to create a scalable and prosperous ecosystem. The platform's focus on rewarding genuine value creation sets it apart from models that rely on unsustainable token incentives. The $SOCIAL token will be available for trading on multiple exchanges starting September 24. Phaver is also offering launch-pool opportunities for users to earn additional tokens. The integration of the $SOCIAL token into the Phaver platform is expected to enhance user engagement by providing tangible rewards for participation and content creation. Final Thoughts Phaver's launch of the $SOCIAL token represents a significant step toward redefining the creator economy within the Web3 landscape. By integrating decentralized social protocols with innovative SocialFi mechanisms, Phaver aims to empower creators and users alike. The platform's commitment to genuine user engagement and sustainable economic models positions it as a noteworthy player in the evolving intersection of social media and blockchain technology. Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Phaver , a leading multi-protocol social application operating on Lens Protocol and Farcaster, has announced the launch of its native token, Phavercoin, with the ticker $SOCIAL. With a user base exceeding half a million, Phaver becomes the first mature application in its ecosystem to introduce a native token. The premarket for $SOCIAL is now live on Aevo, with spot listings scheduled across multiple exchanges, including Bybit, starting September 24. Phaver The $SOCIAL token is engineered to capture and redistribute value in a meritocratic manner to the platform's contributors—its users. Phaver aims to create an environment where creators can monetize their content directly, and users become both owners and beneficiaries of their social interactions. This model seeks to redefine the traditional dynamics of social media platforms by aligning incentives between the platform and its user base. "Social media is one of the few clear value exchanges in the internet world," said Joonatan Lintala, CEO and co-founder of Phaver. "Creators, curators, and moderators generate value for the audience, and the audience's attention and engagement are also valuable. Unlike many 'x-to-earn' models, it's possible to establish a sustainable token economy in SocialFi that rewards those creating value and monetizes attention and premium features without resorting to unsustainable practices." To address the prevalent issue of bots and multi-account farmers that often afflict crypto projects and social apps, Phaver has implemented a validation process for all airdrop recipients. This process includes a privacy-safe facial scan or an assessment of the credibility of their wallet contents, resulting in a user base composed of genuine participants. Early adopters will receive a 4% "Phairdrop" on the Base network during the Token Generation Event (TGE). Additionally, 25% of the total token supply is reserved for monthly Points-to-Tokens redemptions, ensuring that both early users and newcomers are incentivized and fairly rewarded for their contributions. Phaver's platform uniquely combines aspects of Decentralized Social (DeSoc) and Social Finance (SocialFi). The Phaver Supergraph enables seamless posting on both Lens and Farcaster protocols, allowing users to back up their social graphs and content in decentralized storage where they retain ownership. This approach mitigates the risk of accounts being deleted by centralized entities or governments. On the SocialFi front, Phaver introduces gamified experiences that facilitate faster audience growth and fair compensation for valuable contributions. Users will have access to gasless transactions within the mobile app, supported by a built-in wallet for functionalities such as tipping, gated content access, gamified boosts, and item collection. Future Developments and Features Following the token launch, Phaver plans to enhance its SocialFi offerings significantly. Upcoming updates include: Web3-Era Advertising Model: In partnership with Spindl, Phaver will introduce an opt-in advertising system where users are rewarded with points for participating. Users can also share ads with their followers and receive a share of the revenue. This model emphasizes privacy-safe, wallet-based targeting without invasive tracking. Phaver Perks: The platform will offer various partner benefits to validated users, ranging from airdrops to discounts. Expansion of Utility NFTs: Phaver will continue to develop its collection of native utility Non-Fungible Tokens (NFTs), which play a crucial role in the ecosystem. The latest offering, Cred Passes, is currently mintable on OpenSea until the TGE. These NFTs provide an efficient pathway for users to attain higher levels on Phaver, unlocking the potential for greater token rewards in monthly redemptions. Web3-Era Advertising Model : In partnership with Spindl, Phaver will introduce an opt-in advertising system where users are rewarded with points for participating. Users can also share ads with their followers and receive a share of the revenue. This model emphasizes privacy-safe, wallet-based targeting without invasive tracking. Web3-Era Advertising Model Phaver Perks : The platform will offer various partner benefits to validated users, ranging from airdrops to discounts. Phaver Perks Expansion of Utility NFTs : Phaver will continue to develop its collection of native utility Non-Fungible Tokens (NFTs), which play a crucial role in the ecosystem. The latest offering, Cred Passes, is currently mintable on OpenSea until the TGE. These NFTs provide an efficient pathway for users to attain higher levels on Phaver, unlocking the potential for greater token rewards in monthly redemptions. Expansion of Utility NFTs Addressing Sustainability in the Token Economy Phaver emphasizes the sustainability of its token economy by avoiding the pitfalls commonly associated with "ponzinomics" in the crypto space. By monetizing attention, premium content, and offering additional visibility or premium features, Phaver aims to create a scalable and prosperous ecosystem. The platform's focus on rewarding genuine value creation sets it apart from models that rely on unsustainable token incentives. The $SOCIAL token will be available for trading on multiple exchanges starting September 24. Phaver is also offering launch-pool opportunities for users to earn additional tokens. The integration of the $SOCIAL token into the Phaver platform is expected to enhance user engagement by providing tangible rewards for participation and content creation. Final Thoughts Phaver's launch of the $SOCIAL token represents a significant step toward redefining the creator economy within the Web3 landscape. By integrating decentralized social protocols with innovative SocialFi mechanisms, Phaver aims to empower creators and users alike. The platform's commitment to genuine user engagement and sustainable economic models positions it as a noteworthy player in the evolving intersection of social media and blockchain technology. Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program . HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Vested Interest Disclosure: business blogging program business blogging program

Creators Gain Monetization Tools as Phaver Releases $SOCIAL Token

Limitless Labs, the innovative R&D network specializing in prediction markets, blockchain, and AI, has secured $3 million in upfront funding led by renowned investor 1confirmation. The funding round also saw participation from major investors such as Paper Ventures, Collider, and Public Works. Founded in December 2023 by CJ Hetherington, Roman Mogylnyi, Dima Horshkov, and Rev Miller, Limitless Labs is the driving force behind the rapidly growing prediction marketplace, Limitless. The platform has experienced explosive growth, with an 800% increase in volume last week alone, now handling over $200,000 in daily transactions. Impressively, half of its active traders engage with the platform daily, highlighting high user engagement and rapid adoption. The capital infusion will accelerate Limitless's growth trajectory, supporting the rollout of new features and innovations. Among these is a decentralized underground social network that will enable users to create and manage their own prediction markets. This new platform aims to expand the user base while providing a unique avenue for individuals to build personal reputations. Nick Tomaino, Founder and General Partner of 1confirmation—which is backed by industry heavyweights like Peter Thiel, Marc Andreessen, and Mark Cuban—expressed optimism about Limitless's future. "Prediction markets are poised to see trillions in volume in the coming years, and Limitless is leading the charge on Base," he commented. This year has marked a significant moment for prediction markets, fueled by surging interest in events like the U.S. Presidential Election. Limitless has also witnessed increased demand for its crypto and stock markets, which operate similarly to zero days to expiry (0DTE) options in traditional finance. The community thrives on trading fast-paced markets, covering topics ranging from the arrest of Telegram founder Pavel Durov to speculation on the future of X in Brazil. Users are attracted to these markets without the need for long-term capital lock-ups. Positioned at the intersection of prediction markets and social finance (SocialFi), Limitless is redefining how creators can monetize their audiences. By allowing users to create and profit from their own marketplaces, Limitless is set to usher in a wave of popular new categories. Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Limitless Labs , the innovative R&D network specializing in prediction markets, blockchain, and AI, has secured $3 million in upfront funding led by renowned investor 1confirmation. The funding round also saw participation from major investors such as Paper Ventures, Collider, and Public Works. Limitless Labs Founded in December 2023 by CJ Hetherington, Roman Mogylnyi, Dima Horshkov, and Rev Miller, Limitless Labs is the driving force behind the rapidly growing prediction marketplace, Limitless. The platform has experienced explosive growth, with an 800% increase in volume last week alone, now handling over $200,000 in daily transactions. Impressively, half of its active traders engage with the platform daily, highlighting high user engagement and rapid adoption. The capital infusion will accelerate Limitless's growth trajectory, supporting the rollout of new features and innovations. Among these is a decentralized underground social network that will enable users to create and manage their own prediction markets. This new platform aims to expand the user base while providing a unique avenue for individuals to build personal reputations. Nick Tomaino, Founder and General Partner of 1confirmation—which is backed by industry heavyweights like Peter Thiel, Marc Andreessen, and Mark Cuban—expressed optimism about Limitless's future. "Prediction markets are poised to see trillions in volume in the coming years, and Limitless is leading the charge on Base," he commented. This year has marked a significant moment for prediction markets, fueled by surging interest in events like the U.S. Presidential Election. Limitless has also witnessed increased demand for its crypto and stock markets, which operate similarly to zero days to expiry (0DTE) options in traditional finance. The community thrives on trading fast-paced markets, covering topics ranging from the arrest of Telegram founder Pavel Durov to speculation on the future of X in Brazil. Users are attracted to these markets without the need for long-term capital lock-ups. Positioned at the intersection of prediction markets and social finance (SocialFi), Limitless is redefining how creators can monetize their audiences. By allowing users to create and profit from their own marketplaces, Limitless is set to usher in a wave of popular new categories. Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program . HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Vested Interest Disclosure: business blogging program business blogging program

Limitless Labs Secures $3M Funding from 1confirmation to Revolutionize Prediction Markets

Limitless Labs obtiene 3 millones de dólares en financiación de 1confirmation para revolucionar los mercados de predicción

لابراتوارهای Limitless سرمایه 3 میلیون دلاری را از یک تأییدیه برای ایجاد تحول در بازارهای پیش بینی تضمین می کند

Limitless Labs-ն ապահովում է 3 միլիոն դոլարի ֆինանսավորում 1 հաստատումից՝ կանխատեսումների շուկաները հեղափոխելու համար

Limitless Labs、1confirmationから300万ドルの資金を確保し、予測市場に革命を起こす

Limitless Labs უზრუნველყოფს 3 მილიონი დოლარის დაფინანსებას 1 დადასტურებისგან, რათა მოახდინოს რევოლუცია პროგნოზირების ბაზრებზე

Limitless Labs болжау нарықтарында төңкеріс жасау үшін 1confirmation-тен $3 млн қаржыландыруды қамтамасыз етеді

ຫ້ອງທົດລອງທີ່ບໍ່ມີຂີດຈຳກັດຮັບປະກັນເງິນທຶນ $3M ຈາກ 1 ການຢືນຢັນເພື່ອປະຕິວັດຕະຫຼາດການຄາດເດົາ

Limitless Labs garante financiamento de US$ 3 milhões da 1confirmation para revolucionar os mercados de previsão

Лабораторияҳои беканор 3 миллион долларро аз тасдиқи 1 барои инқилоби бозорҳои пешгӯӣ таъмин мекунанд

ደረት ኣልቦ ቤተ ፈተነታት ንዕዳጋታት ትንበያ ሰውራ ንምግባር ካብ 1 ምርግጋጽ $3M ምወላ ኣውሒሱ

لامحدود لیبز نے پیشین گوئی کی منڈیوں میں انقلاب لانے کے لیے 1 تصدیق سے $3M فنڈنگ حاصل کی

Limitless Labs đảm bảo khoản tài trợ 3 triệu đô la từ 1confirmation để cách mạng hóa thị trường dự đoán

Robinhood has made waves in the casual investment community for being a commission-free, mobile-friendly app that’s made trading accessible to everyone — not just the wealthy or experienced traders. It’s only natural, then, that a similar solution be made available for would-be crypto investors — and it’s vital that this solution is made specifically for the casual investor. After all, even with more people trading in decentralized digital currencies than ever before, the majority of Americans still don’t have a strong grasp of crypto concepts. This can prevent new and inexperienced traders from integrating cryptocurrency into their everyday transactions and investments, and it risks concentrating knowledge and trading power in the hands of a few individuals or groups. And sure, there are solutions like Coinbase and Kraken available, but these platforms are still bogged down by unnecessary features and confusing terminologies. This is where Bolide comes in. This easy-to-use mobile trading app aims to simplify crypto investments (specifically memecoins) for everyone, even those without any prior crypto experience. Learn more about the common barriers of crypto investing, how Bolide is breaking these down, and how Bolide CEO Ox Bid is giving memecoins their Robinhood moment — pushing to make social, on-chain memecoin trading easy and fun for everyone. Memecoin Trading: Navigating the Wild West of Crypto Memecoin trading is the buying and selling of digital currencies that are often inspired by internet jokes or cultural memes. However, unlike more established cryptocurrencies like Bitcoin or Ethereum, memecoins are highly volatile and lack additional built-in uses, making them a risky investment. The value of memecoins typically stems from viral marketing campaigns, speculation, and hype. While this adds to the risky charm of memecoins, it also makes it challenging for newcomers to distinguish between legitimate investments and fleeting trends. Additionally, the market's lack of regulation makes it ripe for scams, where promoters might inflate a memecoin's value and sell off their holdings at a peak, leaving others with devalued assets. The cryptocurrency market itself is also volatile. For instance, during the crypto winter of 2022, the market saw a major downturn, resulting in a $2 trillion loss in market value and impacting many investors. Such slumps can be triggered by withdrawing from large investors, significant frauds or security breaches, or tighter government regulations. Finally, navigating crypto trading platforms also requires a high level of digital and financial literacy. In order to maintain their investment and stay safe, beginners need to invest time into learning which risks avoiding and deciphering which coins are worth investing in — all while managing complex trading interfaces. Due to these barriers, a lot of investors forgo crypto trading altogether. Bolide: Memecoin Trading for the Masses Bolide is a mobile app that makes it easy and affordable for beginners to start trading memecoins. It uses Pimlico’s Account Abstraction technology to allow gasless transactions and embedded wallets from Privy for social logins. In doing so, it gives users affordable transactions, secure account access, and lets them store their customer keys safely. This way, users can manage their investments with ease and confidence, knowing their data and digital assets are well-protected. And thanks to a simplistic user interface, users can navigate Bolide as easily as they would a standard bank account — even if they’ve never used the on-chain market before “As an early investor and trader in crypto,” says Ox Bid, CEO and co-founder of Bolide, “my dream has always been to provide access and teach people how to navigate this space. The crypto market is undoubtedly risky, but it can be less so if customers have access to straightforward tools, as complexity often leads to mistakes and barriers.” Bolide is now available on the App Store, and its initial traction is notable. “Though we've been on the market for only a few weeks,” Ox says, “our trading volume has nearly reached $157,000, with an average of 13 trades per user and an average trade value of $30.” Clearly, Ox’s strategy of appealing to a lay audience of retail investors is paying off. Bolide’s Social Finance Future According to Ox Bid, it's time for memecoins to have their Robinhood moment. To this end, she believes that the secret to making memecoin trading accessible to everyone is to take Robinhood's affordable, user-friendly approach, apply it to crypto, and add a social twist. She notes that modern consumers are deeply influenced by social media in everything they do, from choosing where to eat to deciding where to live — and she sees this trend as vital to the future of retail crypto trading. “People often make decisions based on recommendations from influencers or friends,” Ox explains. “My goal is to create a similar influence-driven recommendation system, where users can see which tokens to buy based on the on-chain actions of top influencers, friends, and traders.” In doing so, Ox hopes to return to what made memecoins great in the first place: fun and levity. “I aim to make the crypto market not only accessible to the masses but also exciting and social,” she says. Trade Memecoins with Confidence Using Bolide Newcomers should be able to confidently trade crypto without having to sift through pages of research. They should feel at ease knowing that their investments are protected and that they have access to the tools and support required to make informed decisions. This is where Bolide shines. By blending the user-friendliness of Robinhood and the engagement of popular social platforms, Bolide gives users the freedom to navigate crypto trading in a fun and informative way. To learn how Bolide is making the most out of its Robinhood moment, check out the app for yourself. You can also follow Ox Bid on her Farcaster at @oxb, and on X at @Oxxbid. Robinhood has made waves in the casual investment community for being a commission-free, mobile-friendly app that’s made trading accessible to everyone — not just the wealthy or experienced traders. It’s only natural, then, that a similar solution be made available for would-be crypto investors — and it’s vital that this solution is made specifically for the casual investor. After all, even with more people trading in decentralized digital currencies than ever before, the majority of Americans still don’t have a strong grasp of crypto concepts. This can prevent new and inexperienced traders from integrating cryptocurrency into their everyday transactions and investments, and it risks concentrating knowledge and trading power in the hands of a few individuals or groups. And sure, there are solutions like Coinbase and Kraken available, but these platforms are still bogged down by unnecessary features and confusing terminologies. majority of Americans majority of Americans This is where Bolide comes in. This easy-to-use mobile trading app aims to simplify crypto investments (specifically memecoins) for everyone, even those without any prior crypto experience. Learn more about the common barriers of crypto investing, how Bolide is breaking these down, and how Bolide CEO Ox Bid is giving memecoins their Robinhood moment — pushing to make social, on-chain memecoin trading easy and fun for everyone. Memecoin Trading: Navigating the Wild West of Crypto Memecoin trading is the buying and selling of digital currencies that are often inspired by internet jokes or cultural memes. However, unlike more established cryptocurrencies like Bitcoin or Ethereum, memecoins are highly volatile and lack additional built-in uses, making them a risky investment. The value of memecoins typically stems from viral marketing campaigns, speculation, and hype. While this adds to the risky charm of memecoins, it also makes it challenging for newcomers to distinguish between legitimate investments and fleeting trends. Additionally, the market's lack of regulation makes it ripe for scams, where promoters might inflate a memecoin's value and sell off their holdings at a peak, leaving others with devalued assets. The cryptocurrency market itself is also volatile. For instance, during the crypto winter of 2022 , the market saw a major downturn, resulting in a $2 trillion loss in market value and impacting many investors. Such slumps can be triggered by withdrawing from large investors, significant frauds or security breaches, or tighter government regulations. crypto winter of 2022 crypto winter of 2022 Finally, navigating crypto trading platforms also requires a high level of digital and financial literacy . In order to maintain their investment and stay safe, beginners need to invest time into learning which risks avoiding and deciphering which coins are worth investing in — all while managing complex trading interfaces. financial literacy financial literacy Due to these barriers, a lot of investors forgo crypto trading altogether. Bolide: Memecoin Trading for the Masses Bolide is a mobile app that makes it easy and affordable for beginners to start trading memecoins. It uses Pimlico ’s Account Abstraction technology to allow gasless transactions and embedded wallets from Privy for social logins. In doing so, it gives users affordable transactions, secure account access, and lets them store their customer keys safely. This way, users can manage their investments with ease and confidence, knowing their data and digital assets are well-protected. Pimlico Pimlico Privy Privy And thanks to a simplistic user interface, users can navigate Bolide as easily as they would a standard bank account — even if they’ve never used the on-chain market before “As an early investor and trader in crypto,” says Ox Bid, CEO and co-founder of Bolide, “my dream has always been to provide access and teach people how to navigate this space. The crypto market is undoubtedly risky, but it can be less so if customers have access to straightforward tools, as complexity often leads to mistakes and barriers.” Bolide is now available on the App Store, and its initial traction is notable. “Though we've been on the market for only a few weeks,” Ox says, “our trading volume has nearly reached $157,000, with an average of 13 trades per user and an average trade value of $30.” Clearly, Ox’s strategy of appealing to a lay audience of retail investors is paying off. Bolide’s Social Finance Future According to Ox Bid, it's time for memecoins to have their Robinhood moment. To this end, she believes that the secret to making memecoin trading accessible to everyone is to take Robinhood's affordable, user-friendly approach, apply it to crypto, and add a social twist. She notes that modern consumers are deeply influenced by social media in everything they do, from choosing where to eat to deciding where to live — and she sees this trend as vital to the future of retail crypto trading. “People often make decisions based on recommendations from influencers or friends,” Ox explains. “My goal is to create a similar influence-driven recommendation system, where users can see which tokens to buy based on the on-chain actions of top influencers, friends, and traders.” In doing so, Ox hopes to return to what made memecoins great in the first place: fun and levity. “I aim to make the crypto market not only accessible to the masses but also exciting and social,” she says. Trade Memecoins with Confidence Using Bolide Newcomers should be able to confidently trade crypto without having to sift through pages of research. They should feel at ease knowing that their investments are protected and that they have access to the tools and support required to make informed decisions. This is where Bolide shines. By blending the user-friendliness of Robinhood and the engagement of popular social platforms, Bolide gives users the freedom to navigate crypto trading in a fun and informative way. To learn how Bolide is making the most out of its Robinhood moment, check out the app for yourself. You can also follow Ox Bid on her Farcaster at @oxb , and on X at @Oxxbid. the app the app at @oxb @oxb @Oxxbid . @Oxxbid

Is This the Robinhood Moment for Memecoins? Discovering the Bolide App

এটি কি মেমেকয়েনের জন্য রবিনহুড মুহূর্ত? বোলাইড অ্যাপ আবিষ্কার করা হচ্ছে

Ist dies der Robinhood-Moment für Memecoins? Entdeckung der Bolide-App

¿Es este el momento Robinhood para las Memecoins? Descubriendo la aplicación Bolide

Est-ce le moment Robinhood pour les Memecoins ? À la découverte de l'application Bolide

क्या यह मेमेकॉइन्स के लिए रॉबिनहुड मोमेंट है? बोलाइड ऐप की खोज

これはミームコインのロビンフッドの瞬間か？Bolideアプリを発見

지금이 Memecoin의 로빈후드 순간인가요? Bolide 앱 발견

Este é o momento Robinhood para Memecoins? Conhecendo o aplicativo Bolide

Это момент Робинхуда для мемкоинов? Знакомство с приложением Bolide

Bu Memecoin'ler için Robinhood Anı mı? Bolide Uygulamasını Keşfetmek

Đây có phải là khoảnh khắc Robinhood dành cho Memecoin? Khám phá ứng dụng Bolide

这是 Memecoins 的罗宾汉时刻吗？探索 Bolide 应用程序

Redefining AI Data Provenance In the fast changing field of artificial intelligence and decentralised networks, a new actor has emerged: Rivalz. This revolutionary platform is more than simply a technology development; it is a leader in AI data provenance. Imagine a world in which each bit of data has a clear and verifiable past, similar to a well-documented pedigree. This is the world Rivalz is building with its AI-powered DePIN RollApp, which uses cutting-edge Dymension technology. Rivalz's native token, $RIZ, allows transactions, powers node infrastructure, and enables data monetization, lays the groundwork for a powerful AI-app ecosystem. The technology is intended to serve as a foundation for the creation of an ideal AI data market, with an emphasis on assuring data authenticity and integrity—key qualities that are sometimes difficult to achieve in digital settings. The Team and Vision Rivalz is guided by individuals that have strong roots in artificial intelligence, data management, and Web3 technologies. The team that guides Rivalz consists of approximately thirty professionals. They have been at the forefront of developing solutions that combine these sectors since the year 2019, with the intention of bringing about a new age of data-driven artificial intelligence applications. The initiative is bolstered by the assistance of well-known organisations in the industry, such as Magnus Capital and Delphi Ventures, amongst others. This provides an additional layer of legitimacy and financial support, which promises considerable growth and innovation. Key Components of Rivalz - RX - Rivalz Platform: Here, users can create AI Personas, essentially digital identities that can interact within the AI ecosystem, expanding into roles such as AI NPCs (Non-Player Characters), AI Companions, and AI Agents. - RECO - Rivalz Ecosystem Collaboration: This segment focuses on fostering collaborations across various fields such as DID (Digital Identity), GameFi (Gaming Finance), and SocialFi (Social Finance), creating a network of partners leveraging the Rivalz infrastructure. - RNET - Rivalz Network: Dedicated to enhancing neural network infrastructure, RNET supports the development and operation of modular AI applications and agents. At its core, the Rivalz network relies on rNodes and Validator zNodes, essential for maintaining network integrity and efficiency. These nodes are analogous to the foundations of a building, crucial for the stability and functionality of the entire structure. Why Follow Rivalz? A window into the future of artificial intelligence and blockchain integration is provided by Rivalz, which is accessible to enthusiasts, developers, and casual spectators alike. Because of the ever-increasing complexity of the digital world, platforms such as Rivalz are absolutely necessary in order to guarantee the dependability and safety of the data that is used to power artificial intelligence applications. This dedication to the provenance of data is what distinguishes Rivalz as a pioneer in the field of artificial intelligence technologies for the future. Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Redefining AI Data Provenance In the fast changing field of artificial intelligence and decentralised networks, a new actor has emerged: Rivalz. This revolutionary platform is more than simply a technology development; it is a leader in AI data provenance. Imagine a world in which each bit of data has a clear and verifiable past, similar to a well-documented pedigree. This is the world Rivalz is building with its AI-powered DePIN RollApp, which uses cutting-edge Dymension technology. Rivalz's native token, $RIZ, allows transactions, powers node infrastructure, and enables data monetization, lays the groundwork for a powerful AI-app ecosystem. The technology is intended to serve as a foundation for the creation of an ideal AI data market, with an emphasis on assuring data authenticity and integrity—key qualities that are sometimes difficult to achieve in digital settings. The Team and Vision The Team and Vision Rivalz is guided by individuals that have strong roots in artificial intelligence, data management, and Web3 technologies. The team that guides Rivalz consists of approximately thirty professionals. They have been at the forefront of developing solutions that combine these sectors since the year 2019, with the intention of bringing about a new age of data-driven artificial intelligence applications. The initiative is bolstered by the assistance of well-known organisations in the industry, such as Magnus Capital and Delphi Ventures, amongst others. This provides an additional layer of legitimacy and financial support, which promises considerable growth and innovation. Key Components of Rivalz Key Components of Rivalz - RX - Rivalz Platform : Here, users can create AI Personas, essentially digital identities that can interact within the AI ecosystem, expanding into roles such as AI NPCs (Non-Player Characters), AI Companions, and AI Agents. RX - Rivalz Platform - RECO - Rivalz Ecosystem Collaboration : This segment focuses on fostering collaborations across various fields such as DID (Digital Identity), GameFi (Gaming Finance), and SocialFi (Social Finance), creating a network of partners leveraging the Rivalz infrastructure. RECO - Rivalz Ecosystem Collaboration - RNET - Rivalz Network : Dedicated to enhancing neural network infrastructure, RNET supports the development and operation of modular AI applications and agents. RNET - Rivalz Network At its core, the Rivalz network relies on rNodes and Validator zNodes, essential for maintaining network integrity and efficiency. These nodes are analogous to the foundations of a building, crucial for the stability and functionality of the entire structure. Why Follow Rivalz? Why Follow Rivalz? A window into the future of artificial intelligence and blockchain integration is provided by Rivalz, which is accessible to enthusiasts, developers, and casual spectators alike. Because of the ever-increasing complexity of the digital world, platforms such as Rivalz are absolutely necessary in order to guarantee the dependability and safety of the data that is used to power artificial intelligence applications. This dedication to the provenance of data is what distinguishes Rivalz as a pioneer in the field of artificial intelligence technologies for the future. Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program . HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Vested Interest Disclosure: business blogging program business blogging program

Unlock the Secrets of AI: How Rivalz Is Transforming Data Integrity Forever!

এআই-এর গোপনীয়তা আনলক করুন: কীভাবে রিভালজ ডেটা অখণ্ডতাকে চিরতরে রূপান্তরিত করছে!

Lüfte die Geheimnisse der KI: Wie Rivalz die Datenintegrität für immer verändert!

Descubra los secretos de la IA: ¡Cómo Rivalz está transformando la integridad de los datos para siempre!

Découvrez les secrets de l'IA : comment Rivalz transforme l'intégrité des données pour toujours !

एआई के रहस्यों को अनलॉक करें: कैसे रिवाल्ज़ डेटा अखंडता को हमेशा के लिए बदल रहा है!

AI の秘密を解き明かす: Rivalz がデータ整合性を永遠に変革する方法!

AI의 비밀을 풀어보세요: Rivalz가 데이터 무결성을 영원히 변화시키는 방법!

Desvende os segredos da IA: como a Rivalz está transformando a integridade dos dados para sempre!

Раскройте секреты искусственного интеллекта: как Rivalz навсегда меняет целостность данных!

Yapay Zekanın Sırlarını Açığa Çıkarın: Rivalz, Veri Bütünlüğünü Sonsuza Kadar Nasıl Dönüştürüyor?

Mở khóa bí mật của AI: Rivalz đang biến đổi tính toàn vẹn dữ liệu mãi mãi như thế nào!

解锁 AI 的秘密：Rivalz 如何永远改变数据完整性！

More than is already on traditional social media platforms like Facebook, Instagram, and TikTok. That’s despite the fact that often, users on these platforms face inequitable revenue distribution, unfair censorship policies, opaque algorithms, lack of content ownership, and minimal user privacy. half the world Blockchain-based SocialFi (Social Finance) protocols have attempted to solve these challenges since smart contracts first became a thing. Most attempts, however, have failed upfront or faded away as early adopter incentives dried up. The last bear cycle finally saw some potential platforms that tend to solve the problems through sovereign content ownership, decentralized moderation guidelines, and native tokenization. Before delving deeper into how Web3 SocialFi does that, let’s understand the problems that legacy social media suffers from. What Are The Problems of Traditional Social Media Platforms? "Fair" is clearly not a word one can use for today's social media platforms. Yes, half the world uses these platforms, but is it because we lack better options? Very likely. Depending on whose perspective you take, the list of challenges or shortcomings can be long. But let me consolidate that into a few umbrella points. Unfair Revenue Sharing It’s no secret on traditional social platforms that, despite the hard work, content creators get only a small share of the revenue. There are two reasons why creator earnings are never commensurate with the time, effort, and labor they put into making the content. Most centralized social media companies pay creators based on their social capital, which includes total subscribers, views, likes, and impressions. However, with limited attention spans, creators compete against each other to engage with followers and monetize their social capital. Besides, Web2 platforms function as primary intermediaries among creators, brands, and fans to redistribute revenue. Thus, companies individually decide the profit distribution model for their benefit while ignoring the primary stakeholders — creators and followers. Absence of Content Ownership Content creators don’t own the content they post on traditional social media platforms. The content’s true ownership lies with the conglomerates who own the platforms. As creators lack control over their work, it leads to a power imbalance and propagates an unfair financialization model. Most web2 platforms lack a creator-friendly environment as they unfairly use an influencer’s creative output to make profits without giving due credit. Unilateral Censorship Decisions Since social media companies own and store creators’ works on centralized servers, they can make unilateral decisions about content censorship. The platforms set ever-changing guidelines and frameworks that creators have to abide by. These restrictions adversely affect an influencer’s work and monetization strategies as the companies don’t consult them before setting the rules. Moreover, creators don’t have any proper grievance redressal system to address censorship queries. Besides companies, even governments have had a large say in what platforms users can use. One of the most recent examples is the by the US House of Representatives to ban TikTok in the country. This will put the content and earnings of hundreds of thousands of TikTok creators in the States at risk. bill passed No Content Tracking Mechanism Once creators post their content on social media, it becomes difficult to keep track of their usage. Fans and followers can repurpose the content on their own websites or blog posts, which may lead to content theft. The growth of AI has further accelerated challenges, such as the ability for anyone to create duplicate content and monetize it. In the absence of content tracking, creators lose their revenue share, which comes from monetizing repurposed content. Inaccessible Algorithms Legacy social media platforms use opaque algorithms that arbitrarily determine how creators’ content features on user feeds. Since creators don’t clearly understand these algorithms, they find it difficult to maintain a stable income stream. Sometimes, creators suddenly notice a dip in their content reach and eventually de-board the platform. At other times, they keep working in an unpredictable setting that is detrimental to the creator economy’s long-term sustainability. No Privacy Web2 social media heavily relies on advertising campaigns to generate revenue. These companies harvest creator and user data without explicit permission for targeted advertisements. The existing financial model has little regard for user safety and protection of sensitive personal information. Since creators and followers don’t control the content or their online activities, data breaches and misuse are very common. Web3 SocialFi Platforms: Solving Legacy Social Media’s Problems Web3 developers and blockchain proponents have noticed the drawbacks of traditional social media and came up with a solution — SocialFi. SocialFi platforms combine the aspects of blockchain and decentralized finance (DeFi) to build better, more creator-centric social media platforms. For example, , launched in 2016, was one of the first-generation SocialFi platforms. However, it ran into some and eventually in popularity due to complex user interface and censorship issues. Steemit problems declined More recently, during the long bear market, developers continued to build innovative web3 SocialFi platforms. , launched in August 2023, over 100K users and generated over $25 million in revenue within ten days. Friend.tech registered Although Friend.tech’s initial excitement soon died down, it gave a much-needed impetus to SocialFi apps in a slow market. Several other SocialFi platforms with strong fundamentals rose to prominence as they demonstrated their ability to reach the masses. For instance, , another web3 SocialFi platform, launched in early 2023, soon started gaining traction. Tomo creates transparent and fair monetization opportunities for content creators. Its user-friendly app interface directly connects creators and followers and makes SocialFi accessible to everyone. Tomo The following section will elaborate on how SocialFi protocols address the shortcomings of legacy social media. Transparent Monetization Policies And Privacy Protection Content creators on SocialFi platforms have sovereign ownership over their creative output, thereby giving them more freedom to monetize their work. While web3 social media provides space for advertisements, it cannot mine user data without their consent. Instead, users have the choice to share their data in exchange for rewards from advertising campaigns. Further, content tracking becomes easier on the blockchain and enables creators to retain primary ownership while allowing repurposing. Since creators and followers can verifiably prove their asset provenance on the publicly accessible ledger, monetization becomes easier. SocialFi platforms use programmable smart contracts to reap the benefits of network effects as each user adds value through derivative adaptations. Unlike web2 protocols, creators can directly benefit from secondary sales and content remixing. Direct Creator-Follower Engagements Web3 SocialFi platforms leverage multiple incentive methods for content creators. For example, Steemit enables users to earn Steem tokens with real-world value for each digital activity, such as posting and sharing content. Another platform, , allows users to earn tokens to watch creator videos on the platform. uses NFT ticketing and tokenized membership passes for content monetization. leverages the ‘Key’ system, a blockchain-based Proof-of-Support mechanism for creator-centric revenue generation. Users purchase Tomo Keys to gain exclusive access to a creator’s private feed and chatroom. If someone wants to unfollow a creator, they can sell the Keys as well. Cheelee Chat3 Tomo Keys empower creators to get direct support from their followers and make content without navigating opaque algorithms or censorship guidelines. This removes any power imbalance as creators no longer depend on companies to pay for their work. The Key system gives creators more freedom as they don’t have to compete in the attention economy. Each creator can focus on their style, build social capital, and get direct support from their fans. Some of these apps also use a points system to reward loyal users with airdrops and other in-app incentives with real-world value. For instance, Tomo users can earn Tomo points by purchasing Keys and successful referrals. Democratizing Financial Accessibility Most people tend to shy away from SocialFi protocols due to a difficult user interface like setting up a crypto wallet. The entry barriers are also high as they have to purchase crypto or NFTs to interact within these platforms. The new wave of SocialFi platforms makes it easier for users by automatically setting up an ERC-4337 wallet at the backend. For example, Tomo users don’t require any technical knowledge as it creates a web3 wallet when users open an account. Despite rapid digitization, a 2023 survey only 29% of adults are literate in digital finance. Web3 SocialFi platforms leverage features like ERC-4337 wallets and ERC-404 tokens to make financial services accessible to the unbanked population. reports These features strengthen community bonds as people can pool their resources, collectively own digital assets, and make joint financial decisions. The Future Of SocialFi Protocols SocialFi protocols have the potential to drive mass adoption of crypto and blockchain-based apps. However, they have to push technical complexities to the backend and offer a good user experience along with transparent monetization channels. To appeal to the masses, SocialFi platforms have to be fun, interactive, entertaining, and immersive. They must find a fine balance between financialization and an engaging interface to drive user adoption. Social media will keep growing in the future. A fair incentive structure and user-first experience will push people to start using SocialFi protocols en masse.

Can New-Age Web3 SocialFi Protocols Disrupt Traditional Social Media?

The entire cryptocurrency industry is now in a state of backwater, and while there are occasionally some popular apps popping up, the scenes of multiple projects competing for the limelight during the DeFi Summer of 2018 or the boom of NFT and GameFi in 2021 are long gone. However, there are still some projects that can make a splash in this bear market of low sentiment, so how do they make it? Marketing: 7Ps theory From the perspective of marketing, the successful launch of a product requires comprehensive consideration of seven elements: Product, Price, Promotion, Place, People, Process and Physical Evidence. This is also known as the comprehensive marketing model: 7Ps. Specifically, the first four elements focus on the early stage of marketing and the product, which is the basis of product marketing; The latter three elements are more focused on the product service, which is the basis of service marketing. This article will take product marketing as a starting point and explore how high-profile projects successfully ignite market enthusiasm and arouse user interest in a bear market. Product: Friend.tech that lets users see value and potential revenue When the market fell into a deep bear mood, Friend Tech entered the market with bright results on August 10. As of the time of writing, Friend.tech traded more than 50,000 ETH. How did Friend.tech get noticed: On the one hand, many fans want to talk to celebrities on social media platforms, but they rarely get responses through mainstream platforms such as Twitter and Facebook. Friend.tech noticed this and invited KOLs onto the platform, offering users the opportunity to have a dialogue with KOLs. In addition, KOLs that have joined the platform will also do their best to promote their accounts to increase their influence. On the other hand, the most common feedback from the community is: How is this account? At Friend.tech, the influence is directly reflected on price. For buyers, after owning shares of A, if many people on the platform want to buy shares of A, the price will also change with the rise and fall of A's influence, and buyers can make profits by reselling shares. Friend.tech enables users to see the value and potential benefits of the product under the concept of "social + finance", so as to attract and gain users, and encourage users to spontaneously publicize and promote products to open the market. Price: The expectation brought by airdrops Airdrops are a marketing strategy that can instantly increase the impact of a project. It has become a common me ans for the project to use the value expectation from users to get more exposure. Not long ago, Sei announced the mainnet online and the rules of airdrop, immediately attracting the focus of many people. Before the main network was launched, the number of test network addresses of Sei exceeded 1 million. The results of Sei test network stage are bright, although there is still a certain gap compared with the number of independent wallet addresses of zkSync and LayerZero. It is a common way for project to take advantage of user expectations for airdrops to drive project growth, and users buy this way. After the Sei mainnet was launched, although there was a mixed reaction in the community to the application process and the distribution mode of token airdrop, it is undeniable that Sei mobilized the attention of the entire market at that time, and the turnover of the token exceeded $1.4 billion in 24 hours after the token was launched. Great Choice for Promotion & Place: Web3 Growth Platform In the highly competitive cryptocurrency space, project parties spare no effort to develop promotion strategies to attract users. They made great efforts both in the forms and channels of promotion. More and more projects no longer rely solely on their own channels but choose to use the Web3 growth platform to improve the efficiency of promotion and achieve faster growth. When your product has a compelling narrative or advertisement, you can do more with less by choosing the right forms and channels to promote it. HashKey Exchange On the eve of the project's launch, HashKey chose to leverage a growth platform to maximize market exposure. To celebrate the launch of Hashkey Exchange, Hong Kong's first licensed retail exchange platform, HashKey and its partners launched a campaign on Web3 growth platform TaskOn to promote the official launch, with exposure on Twitter alone. 168k In terms of the form of activities, HashKey used small rewards for activities and joined with partners and growth platforms to maximizes the use of user traffic resources, gaining a large amount of exposure in a short time and attracting market attention. Base Base is another example. Base has continued to grow even as the popularity of Bald and friend.tech has waned, and launched Odyssey missions in Galxe. From August 9 to August 31, new tasks were open every day for users, encouraging users to participate in the daily tasks and mint NFTs. By the time of writing, the number of participants reached . 322k What are the advantages of using the Web3 growth platform to publish a campaign, as opposed to creating a dedicated page to publish an Odyssey or campaign on your own channel, such as the official website or official Medium? The author believes that there are several advantages: Save resources: Most tasks are complicated and repetitive in an Odyssey or a campaign. The Web3 growth platform provides a variety of task templates to maximize the simplification of the creation of campaigns and reduce the development cost of the team. In addition, most Web3 growth platforms are currently provided for free, and projects only need to prepare a budget for campaign incentives. Information aggregation: Projects like HashKey which held large-scale campaigns including multiple activities with partners need a platform to help users obtain complete activity information. Web3 growth platform can do this to ensure users' participation in activities to the greatest extent. Maximize the reach-out audience: Web3 growth platform has its own native user group, and publishing campaigns on the platform can maximize the reach-out audience. Trying to publish your campaign on multiple growth platforms can further expand your campaign audience. According to the traffic data of some Web3 growth platforms on SimilarWeb in the past month, Galxe, as the leader in this regard, is outstanding in all aspects and is the preferred channel. The promotion can be Galxe plus and other channels. Of course, when resources are limited and it is not possible to publish tasks on multiple platforms, you can carefully select 1-2 platforms and try to choose a growth platform with less overlap with Galxe users. Here in this article, the writer will compare platforms including Layer3, TaskOn, and QuestN: TaskOn and QuestN both have less than 10% of user overlap with Galxe, while Layer3 has 20%. Paving a path to victory in a bear market In a bear market, the market is less active, and it becomes very difficult to stimulate user activity. This is a profit-driven market, and if you can make users feel the potential of wealth, you will have a chance to stand out in a highly competitive market and get high attention from users and the market. Improving the product can allow users to see the value and potential benefits of the product success. Projects that take advantage of the price expectations of users for airdrops have become the focus of the market in a short time. However, for projects with a limited budget, the choice of promotion channels becomes particularly important. It may be a wise choice to use the Web3 growth platform, a tool with a huge user base, to launch a small-budget promotion campaign, bring your project to the market, and start the development journey in the bear market.

How High-profile Projects Successfully Ignite Market Enthusiasm During a Bear Run

The growing popularity of projects in Web 3.0 and DeFi was largely caused by people getting tired of centralization. They got tired of overpaying intermediaries for services that could be obtained directly. They got fed up with banks deciding who to lend money to and who to withhold funds from. Medical research is also focused primarily on financial benefits, rather than treating people. Therefore, blockchain projects are gaining popularity, as they offer a certain independence from a third party. By the same principle, social networks of the future appear. Because it’s not ordinary users, but tech corporations who earn from content on Instagram, Facebook, or Twitter. In this regard, a trend has appeared toward decentralization in social networks. The trend implies the ability to own content, and earn it yourself. This article will consider what SocialFi is and how it works. What is SocialFi and how does it works SocialFi or Social Finance is a platform that combines the principles of social networks and decentralized finance (DeFi). In simple terms, it is a new stage in the development of social networks. Currently, all the users’ data in social networks is controlled by the management organization, and in future SocialFi projects, users themselves will be able to do it themselves. SocialFi platforms are based on users’ earnings. By allowing content makers to earn income through content and advertising, users can monetize their communication, news feed viewing, NFT minting, and playing time. Why SocialFi is gaining popularity The main reason for this popularity growth is that SocialFi can eliminate the flaws of Web 2.0 social networks. Let's look at the problems that SocialFi can fix. Currently, users on the internet need to specify their phone number, e-mail, and other information to register on any social network. This data is kept on a company's servers. There is the risk of a server crash, as well as a leak of users’ data. Protection of personal data and user privacy. A SocialFi platform with a decentralized approach can save users from this problem. After all, dApps do not collect or store users' data. People want to express their thoughts freely without being controlled by authorities or security forces. However, malicious content should not be left without control either. Freedom of speech. In decentralized social networks, network participants manage the content. This makes it impossible for a central authority to censor or block users. Though, control of the malicious content is provided by artificial intelligence. The algorithm finds malicious content and deletes it. Traditional copyright models cannot fully comply with the new reality. For example, even with an official license, authors can lose part of their income when distributing digital content. Digital copyright. SocialFi platform allows the creation of automated copyright systems. Like decentralized content markets, where authors will sell their work directly to buyers without intermediaries. Content creators will receive full payment for their work, and users can be sure they will buy original content. SocialFi projects which are worth paying attention to Metaverses are perhaps the most notable representatives of the SocialFi sphere. Users there are anonymous. They create and monetize content daily. Below are a few more niche projects. Entre — Professional network Entre is a social network for entrepreneurs and investors. The platform allows them to communicate with each other, find investment opportunities, and make deals. Entre uses blockchain technology to ensure the security and transparency of transactions between users. In Entre, users can find jobs and employees, as well as exchange experiences and ideas through virtual coworking. They hold general meetings, find investors, and work remotely. The platform allows users to monetize content through paid broadcasts, messages, comments, and closed business events. Cheelee — GameFi short video platform Cheelee is a video platform on the blockchain. Content makers create and publish short videos and get rewarded for them. Other users are paid for watching videos in the feed. In Cheelee, every new user receives free NFT glasses. These glasses have certain features, such as the speed of attention, lenses, battery, memory, and frame. These features affect how much the owner of the NFT glasses will earn for viewing the feed. The glasses can be upgraded and improved with the help of a platform token, which is farmed for viewing content. Skiff — Privacy-first workspace Skiff enables users to create and manage secure private networks. They are protected from surveillance and third parties control, such as government agencies, Internet service providers, and others. The project considers that people tend to store their data safely and do not want to display their personal information without their consent. On the Skiff platform, users can create secure rooms and channels to communicate and share files. On the platform, they can create notes, and mark important dates and plans in the calendar, which can be shared with other users. Arpeggi — a place to make music Arpeggi provides a fully functional digital sound station for creating and editing music that can be recorded in Arpeggi format and registered in the ARP protocol with the information about the authorship. On the platform, musicians can use free sounds from the endless sound library created by Arpeggi users. This allows working together on projects without having to purchase expensive licenses. Every sound or track that has been created or uploaded to the platform turns into an NFT. When other users use sounds, make remixes, or listen to music, the creators receive royalties in the form of platform tokens. Is SocialFi going to replace Web 2.0 social networks? The former social networks shot up during a short period. Instagram was created in 2010 and reached 16 million daily users in two years. According to BDC Consulting, the total number of registered users in SocialFi projects by mid-2022 amounted to 14 million, with only 5 million regular users. However, metaverse users were excluded from these statistics. According to these figures, it is premature to say that the concept has not hit an audience. Most likely, the general decline in sentiment towards cryptocurrencies has been affected. Listing.Help analytics tend to believe that the popularity of the new social networks will grow. Niche projects for creating and monetizing content, social networks for investors and the business community, and applications for a healthy lifestyle will become the most promising areas of SocialFi.

SocialFi — Social Networks on the Blockchain & What to Expect From Web 3

Emerging technologies continue to make the world a better place by connecting people with common interests across the globe. The emergence of social media in the 21st century remains a breakthrough for human interactions allowing people to connect, share and build communities. A new dawn for the social media ecosystem combines decentralization, finance, and social media. Following the rise of decentralized finance (DeFi) and (blockchain gaming and DeFi), key players have introduced SocialFi, a new concept with the potential to revolutionize social media. GameFi SocialFi, A new dawn SocialFi, short for social finance, is a new concept that combines social media, blockchain technology, and Web3. It is a hybrid concept that seeks to fully monetize the current social media market by offering all parties equal opportunities. SocialFi allows various forms of interaction through a decentralized platform while rewarding users through tokenized achievements. Like its predecessors, SocialFi is built on the principle of decentralization. This has been fundamental in giving users control over their data, freeing them from big central platforms like , , and TikTok that have long run the industry. SocialFi platforms offer users a more secure and efficient way to develop, create, and manage content. These platforms also offer users better tools to help them better connect with family, friends, and other users. Users also have power over key decision-making processes on these platforms through decentralized governance represented by decentralized autonomous organizations (DAOs). Facebook Twitter Features of SocialFi As stated earlier, SocialFi is an umbrella that combines various elements to provide a better social experience through crypto, DeFi, metaverse, NFTs, and Web3. At the heart of SocialFi are through social tokens. SocialFi offers many new ways for users, content creators, and app owners to monetarize their engagements. This has perhaps been the most attractive aspect of SocialFi.  By introducing the concept of social tokens and in-app utility tokens. monetization and incentivization Notably, these tokens are not controlled by the platform but by the creator. Token creators have the power to decide how they want their tokens to be utilized, especially by fans and followers. Simply put, social tokens allow users with meaningful brand equity to begin charging for their creative output. This is because the user's social clout decides the token's value. As a result, influencers and content creators have access to a better revenue stream and better distribution of work. It is worth pointing out that these social tokens are not worth the same. Another feature is digital ownership and identity primarily facilitated by the emergence of picture-for-proof (PFP) NFTs. PFPs are used mainly by Twitter and NFT profile pictures for identity and proof of ownership. In addition, PFP NFTs also provide users with exclusive access to specific communities within the SocialFi ecosystem. SocialFi also advocates for freedom of speech since users' messages or content are not throttled by censorship. Previously, social media platforms were heavily plagued by centralized censorship that limited what users could post to the extent of deleting accounts that content creators and users had poured their hearts and souls into. But with SocialFi, users have the freedom to post content without the constant fear of overreaching moderation or targeted censorship. SocialFi also features DAOs schemes that prevent a single entity from having total control of the platform. These DAOs provide users with voting power on crucial processes on the platform. Last remarks SocialFi is still developing and faces various challenges, including scalable infrastructure, Sharding and Warp Sync, and a sustainable economic model. However, this concept still has much potential for a more defined economic model for social engagements.

The Rise Of SocialFi: A Fusion Of Social Media, Web3, And Decentralized Finance

Since Tim Berners-Lee created the Internet in the 1990s some 30 years ago and democratized its use (because it was restricted to scientific, academic, and government purposes); it has since evolved significantly in the last three decades. From a decentralized Web 1.0 to a user-friendly and centralized Web 2.0 where "social" emerges as one of the fundamental pillars with the arrival of the 21st century, a long way has been traveled. Although the user is now able to create content and not only consume it as happened in the early days of the World Wide Web, the social web has also shown that the user must once again be the main actor in the network of networks, a principle that aligns with the Berners-Lee vision. Web 3.0, this new network based on decentralization and empowered by blockchain technology, gives the user control over their data while rewarding them for their contributions to the platforms where they browse, is today perhaps the most disruptive upgrade we have had in many years since the birth of the Internet. , the market leading SocialFi Metaverse, wants to take Web 3.0 by storm to show that blockchain technology can transform social media, just as it similarly has happened with gaming (GameFi) and finance (DeFi). Torum But what is SocialFi? SocialFi, short for social finance, is basically the combination of social media and decentralized finance (DeFi) on the blockchain. In other simpler terms, SocialFi is social media on the blockchain. Under the concept of the "traditional internet" + "blockchain" as the foundation of Web 3.0, SocialFi is establishing the foundations to generate added value to social networks and social forms of interaction through decentralized platforms, tokenizing achievements, engagement, and of course the management of the key decisions for the improvement of these platforms under a decentralized governance scheme represented as decentralized autonomous organizations (DAO). Why is SocialFi important? The personal (and private) data market is a multi-billion dollar market, with a compound average annual growth rate of 11%; therefore, this sector is very juicy for many traditional social media platforms, since the amount of USD 160,000 billion that the Big Data Market represents may multiply in the coming years, and the large technology companies in the sector such as Twitter, Facebook, and Tik Tok are largely responsible for this continued growth. How? Simple, much of this market is within the social networks themselves. For this reason, users are the main manufacturers of data for these large corporations, many of which sell data without the consent of the common user. If you don't believe it, see the case of Facebook and its Cambridge Analytica scandal, or the fact that Tik Tok is capable of collecting the biometric data of our faces and our voices for unclear uses, as well as the data from SIM cards, network usage, devices used, addresses and GPS data; among other critical data that should be private and under the exclusive control of the user. Therefore, logic indicates that these social networks have powerful control, and even a monopoly on the sale of private data in an environment of absolute surveillance for users that has ended in worrying derivations about indiscriminate management for commercial purposes without consent (in most cases) of the data users interacting on its platforms. As a result, users are exposed to rogue social networks that only seek to seize an ever-increasing share of the $160 billion Big Data Market, regardless of respect for the common user's privacy. More interestingly, these users do not receive anything in return from these platforms that sell this private data on the market “on their behalf”. Within this context, the concept of decentralized social networks takes on special relevance when it comes to managing privacy, data and user rewards for their engagement, in a decentralized economy under the premise of "Write to Earn" or "Social to Earn", similar to "Play to Earn". With SocialFi, user-generated content (UGC) takes on special importance in these ecosystems, where a decentralized Internet allows each of the actors involved to solve the pain point of the poor transmission of value caused by the "centralization of social networks" of Web 2.0. However, with the construction of Web 3.0 and the metaverse, we have collectively seen the explosive growth of DeFi and NFTs, which have reached into the social media ecosystem to create this powerful movement called SocialFi. Torum: A key player in SocialFi Within this context of decentralized solutions to empower the common user and especially to revolutionize the traditional practices of centralized social networks, Torum emerges as an important benchmark in the market. By pioneering the construction of a SocialFi Metaverse, Torum allows users on its platform to control the creative content generated by them, and manage it through a token economy in which all participants benefit from the decentralization of the transmission of value on the platform. In addition, Torum allows users to earn income not only by creating content, but also by participating in minting NFTs and interacting with other users. Unlike the centralized social platforms we are used to based on Web 2.0, Torum provides a higher level of privacy and security for users' personal data, while distributing revenues fairly and offering the user a better and more valuable experience. One of the trendsetting features users can take advantage of in the Torum SocialFi metaverse are the NFT Avatars. While avatars have long been used in the social media space to represent a user's identity online, Torum applies this same concept but with added value beyond a simple pixel of a digital figure. In the Torum ecosystem, an NFT avatar can represent the identity of the owner both in the crypto world and in the futuristic metaverse. This has served as an example for other traditional social platforms such as Twitter Blue, which now allows you to use your NFT as a profile picture. More decentralization, more SocialFi But Torum doesn't just bring the NFT Avatar to the social media ecosystem. Aware of the growth and importance of NFTs in the industry and in the real world, Torum aligns the needs of its community with its own marketplace so users can enrich the content options related to this important sector. By having an NFT Marketplace within its own environment, Torum allows users to create a secondary market around these unique and rare pieces, often used as avatars or simply as passes to unlock other goodies in the Torum-powered metaverse. Everything in one place without the need to create tedious steps or separate accounts. More interestingly, Web 3.0 has proven to be the ideal path to personal financial empowerment for the millions of users who believe in decentralization. To meet their financial services needs, Torum Finance is a decentralized financial application introduced into the Torum SocialFi metaverse to offer users a new generation DeFi experience in which they will be able to send payments, pay tips, exchange tokens, participate in public offerings and much more, all this on a social networking platform. Security before everything One of the biggest problems with cryptocurrencies is the number of scams that occur. Newcomers to the space feel threatened and insecure, a problem that has largely stifled progress toward mass adoption. Without sufficient knowledge of the industry, which can be cumbersome and dense, many fall victim to the overwhelming number of scam artists that plague the industry. Even with platforms like Reddit and Telegram providing additional information to help users invest, there is still a high risk of fraudulent activity. Torum advocates for crypto users of all experience levels by creating different communities within its SocialFi ecosystem to help promote mass adoption. By bridging the gap between users and projects, the platform lowers the barrier to entry for new users by promoting a secure entry point into the space. Thanks to the fact that the Torum community is largely made up of users of the crypto ecosystem, projects find in Torum an ideal place and target audience for their promotion and commercialization in the NFT, DeFi and crypto sectors in general. Even more interesting is the fact that the creation of communities exclusively related to blockchain projects within its ecosystem is an ideal marketing tool at low cost and without entry barriers that both users and companies can exploit, in a more secure environment. SocialFi will continue to grow The decentralized finance (DeFi) sector has continued to demonstrate its exponential growth over the past two years. With more and more innovations within the sector, the recognition of SocialFi along with other DeFi elements such as GameFi are appearing on the radar of investors. Although the idea of SocialFi is relatively new and still in its early stages, it has the potential to greatly impact cryptocurrency trading volumes and the adoption of blockchain technology in general, as well as the attitudes of regular users toward social networks and participating in them. Ya Changpeng Zhao, CEO of Binance, predicted that SocialFi will be one of the main drivers in 2022, and as such we have seen a number of options emerge in this regard. As traditional companies like Meta and Twitter push NFTs forward and find new ways to showcase their use cases, content creators are increasingly aware that SocialFi platforms like Torum are the natural evolution from the centralized platform status quo. Torum has proven to be a clear example of what SocialFi can do for the benefit of the crypto community, and especially users who love social networks. Torum can solve copyright issues and enable content creators and users to earn money through social interaction, protecting their own interests in the virtual space. And judging by its promising growth in the Web 3.0 era, it won't be surprising to see Torum SocialFi take off in the near future.

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