Tag: socialmedia

How Web3 Will Transform Social Media Platforms
26.07.2023

How Web3 Will Transform Social Media Platforms

In recent years, social media platforms have evolved greatly, from making it easier to connect with friends and family to getting rewards and producing paid content. It’s become easier for companies to communicate with their customers using social media channels: build trustful relationships, brand vision, and maintain users’ faith in their services. In Web3, social media platforms are able to…

Mixing social media and Web3 – what do we know about SocialFi?
12.10.2022

Mixing social media and Web3 – what do we know about SocialFi?

SocialFi (social finance) unites the principles of social media and DeFi (decentralized finance). To put it in another way, it’s social media based on blockchain technology. Its participants are targeted on secure data, freedom of exposure of their opinion, and monetizing of their social-media engagement. Regarding the latter, the profit from engagement is paid in cryptocurrency, while NFTs (non-fungible tokens)…

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