This is why influencers must now switch to a decentralized platform

Web3 is the new generation of the Internet and it is still in development. The new web does not have many users yet, but the emergence of multiple social media platforms should attract more users. This also includes the social platform Only1, which has come close to a number of innovations. The following text explains what these are and what is the difference between social networks on Web2 and Web3.

The difference in Web2

Web2 is the Internet as we know it and use it every day. Social media platforms have one store on this web because it is a central platform. This hotspot controls and saves all the entries you make. Because of this control, posts and comments may be deleted and individuals may be banned. For influencers, there is always a risk of losing their source of income just by saying something wrong.

On the other hand, Web3 is based on the blockchain and is therefore a decentralized platform. This means that no center controls everything. On the one hand, this provides more freedom for users, and on the other hand, the connection of various networks. For example, profile data can be transferred from one social platform to another very quickly because it is not tied to a central location, as is the case with Web2. In addition, the blockchain provides end-to-end data security. On a decentralized platform, it cannot be stolen, forged, or deleted. However, the downside to Web3 is that any interactions on social networks come with gas fees. In the future, a solution should be found here so that more users can use the new web.

The new platform Only1

Only1 comes with a crucial feature that social networks on Web3 haven’t used yet: non-fungible tokens, NFTs for short. Powered by NFTs, it is based on the Solana blockchain, and combines social media, blockchain, and NFT. With the help of simplified monetization and low gas fees, users can get started quickly and easily. The role of NFTs is in a for-profit creation project, which allows a content creator to create NFTs and other content and make money with them. Fans have the opportunity to purchase Superfan NFTs and use them to support their idol. They do this by sharing rewards from influencer pools with them. On the other hand, even without owning a Superfan NFT, they have the option to provide support, for example by going through the pools themselves or by inverting the content creator.

Reasons for change

The fact that influencers can be banned overnight on a centralized platform and thus lose their source of income is a danger on the current internet. To counter this, influencers can now move to decentralized platforms. Not only will they have more freedom there, but they will also have more opportunities to earn money by creating content. A gated community can also be created on social networks in Web3. In Only1, for example, influencers are allowed to own their own NFTs. Owners are granted access through NFTs. For a content creator, accessibility and exclusivity are essential, and social media on the web3 provides both.

Web 3 social media also has risks

Despite all the advantages, the new generation of the Internet also has to deal with criticism. Due to the fact that you as a user have one hundred percent freedom there, this also means absolute freedom of expression. Threats, insults and cyberbullying in general can no longer be avoided out there. Therefore, freedom of expression is a danger. A solution is needed, but this clearly violates the principles of a decentralized platform. Because with the rules, that one hundred percent freedom will not be granted anymore.

conclusion

Web 3 social media is another development driven by blockchain technology. It provides influencers with a new platform as well as new opportunities and thus more opportunities to make money. Likewise, other users get more alternatives to support influencers out there. However, we should not forget that social media also has downsides to the new web. Therefore, further developments in this area are absolutely necessary. Switching from Web2 to Web3 is only possible if solutions to problems are found.

author:

Maximilian Schmidt is CEO of CPI Technologies. The company develops NFT-based digital identity products and also specializes in software development in the areas of blockchain, finance and artificial intelligence as well as marketing and fundraising. https://cpitech.io/de/

Author and partner statements do not necessarily reflect the opinion of the editors and publisher

Leave a Comment