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Facebook and Twitter Are Rapidly Becoming Obsolete Thanks to Blockchain

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Web3 is a future where corporations will be powerless as content creators own their own work and followers. On Web2, that isn’t the case.

Huge corporations such as Twitter and Facebook are profiting from content generated by users, which is great for these companies but not so much for the average user or professionally trained content creators.

Web3 is a social media platform that doesn’t rely on centralized structures to control all aspects of it, which will give control back to users rather than corporations.

No more trolls, please

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Centralized platforms such as Facebook, Instagram, and Twitter can prevent you from having the freedom to create your own content. If you don’t abide by the set in place by those platforms, you may quickly lose your followers when you’ve put years worth of hard work into building up your account.

resulted in Twitter users who were outraged and felt they had no control over their content. They are the ones providing value to the company, but Twitter continually ignores their opinions.

With Web3.0, companies will no longer dictate what people can do with their platform.

Blockchain could be the future of social media

The problem with Web 2.0 is that there are few connections between platforms such as YouTube, Facebook and Instagram. If you want to start a new account on one owing to the success of another, you will still be starting again without your original followers.

Web3 provides solutions for you to reduce the number of intermediaries, create an open ecosystem, enable new forms of monetization, and give individuals more power over their content and followers.

Blockchain technology is the future of social media

problem-with-Web-2.0

The problem with Web 2.0 is that there are few connections between platforms such as YouTube, Facebook and Instagram. If you want to start a new account on one owing to the success of another, you will still be starting again without your original followers.

Web3 provides solutions for you to reduce the number of intermediaries, create an open ecosystem, enable new forms of monetization, and give individuals more power over their content and followers.

Blockchain technology is the future of social media

There are companies that provide decentralized social media apps that run on Blockchain.

If a user wants to link their blog post and followers with a cryptocurrency wallet, Lens, for example, will generate a non-fungible token that can be used across platforms. This allows the user to monetize without dependency on any one platform.

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When a user posts content, it’s automatically shared across all platforms they’re on. And because followers are also following these users on other social media sites, there tends to be the same number of followers on all their accounts. If a new platform emerges, you don’t have to build your audience for this new site as well. It’s like having an account that’s linked directly to the internet rather than being linked to Facebook’s closed ecosystem.

How advertising is changing

The Web3 model incentivizes users with their own way to monetize their work. Ensuring that the content is better than advertising, this platform also allows creators to set a fee for (1) collecting or following their posts or (2) setting a fee for following them. The revenue then goes straight to the creator’s account instead of the platform.

Find out how influencers will accelerate the adoption of blockchain technology.

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There are some people who claim that Web2 will always be better than Web3 because it has a head start. But the truth is Web3 social media will eventually catch up with it since the benefits of decentralized social media are substantial enough to make big content creators switch, and their audiences would follow them.

Related: Blockchain has the potential to change the paradigm of content creation

Influencers who first built their following on social media platforms that have since banned them from sharing their content can now use Web3 to maintain their presence.

Blockchain is giving power back to the users by rewarding those who have created and consumed the content on social media rather than a larger platform (like Twitter or Facebook). Blockchain is better than any platform we could imagine because it decentralizes everything and sequesters all data.

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