Benefits of Web3 Social

Web3 social is an emerging paradigm of social media that builds on the principles of decentralization and user control. Here are some potential benefits of web3 social:

Open / Share (Web2 SNS → Web3 SNS)

Web3 is about opening up the internet and giving users more control over their data and privacy. This means that users will be able to share their data more freely, knowing that it is not being controlled by any single entity.

In Web2, if users want to share a photo on social media, users have to first upload it to a centralized server. This server then owns the photo and can do whatever it wants with it. In Web3, users could instead upload their photo to a decentralized network, such as a blockchain. This means that users would own the photo and have control over who can see it and how it is used.

This open and shareable nature of Web3 could have a number of benefits. For example, it could make it easier for researchers to share data, for artists to share their work, and for businesses to collaborate with each other. It could also help to build trust and transparency between users and organizations.

Web3 has the potential to revolutionize the way we interact with the internet.

Below are some specific examples of how Web3 can be used to open up the internet and give users more control over their data and privacy:

• Decentralized finance (DeFi): DeFi applications allow users to access financial services without the need for a third party, such as a bank. This means that users have more control over their money and their financial data.

• Decentralized autonomous organizations (DAOs): DAOs are organizations that are run by code and not by people. This means that they are more transparent and efficient, and they do not have the same centralized power structures as traditional organizations.

• Non-fungible tokens (NFTs): NFTs are digital assets that are unique and cannot be replaced. This means that they can be used to represent ownership of anything, such as art, music, or in-game items. NFTs can be stored on decentralized networks, which means that users have more control over their ownership and can easily transfer them to other users.

The need for real application UX / going to real service (Current Web3 → Future Web3)

The current state of web3 data, such as wallet addresses, resembles an object, similar to a bank account. These data consist of various activities within a user's wallet, including crypto and NFT trades recorded on the blockchain. However, there is a noticeable deficiency in user experience when it comes to these decentralized applications and their connection to social identities.

As more individuals embrace web3 and recognize its decentralized advantages, the future of web3 will witness a significant improvement in user experience for decentralized applications. A paradigm shift will occur, focusing on transforming raw web3 data, which contains concealed underlying activities and interactions of each blockchain transaction, into user-friendly interfaces and interactive applications suitable for web3 social networking. This shift aims to enhance user experience and promote increased user interactions.

Undoubtedly, web3 social networking services have become an integral part of everyone's lives, and their evolution over the past decade has been truly revolutionary.

As decentralised blockchain technology matures over time, it has become easier and more secure to share social profiles with decentralized wallets. SocialFi and decentralization are expected to become the mainstream in the age of social media. Given their evident advantages, it is natural for them to take control of the next stage of social media evolution through data and relationships.

Decentralized social networks utilize data and user relationships to create a more secure and transparent social media platform.

The Nabi social graph protocol will enable users to link their profiles with their decentralized wallets. This feature will allow users to openly share their profiles with others across various DApps within the nabi ecosystem. This interoperability will make it easier for users to access their social activity data and relations to utilize it across different decentralized applications.

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Decentralization

Web3 social platforms are built on decentralized networks, which means that data and information are not controlled by a single entity. This can increase transparency, reduce the risk of censorship, and give users more control over their personal data.

User Control

Web3 social platforms prioritize user control, meaning that users can decide how their data is used, who can access it, and whether they want to participate in certain activities. This can help to foster trust and build more meaningful relationships between users and platforms.

Data Privacy

Web3 social platforms use advanced encryption and other security measures to protect user data from unauthorized access or misuse. This can increase user trust in the platform and help to build a more secure and resilient social media ecosystem.

Community Building

Web3 social platforms prioritize community building, providing tools and resources to help users connect with like-minded individuals and build meaningful relationships. This can foster a sense of belonging and help to promote positive social interactions.

New Business Models

Web3 social platforms may introduce new business models that prioritize user value and transparency. For example, some platforms may allow users to directly monetize their content, while others may use blockchain technology to create a more equitable revenue-sharing system.

Innovation

Web3 social platforms are still in the early stages of development, meaning that there is a lot of room for experimentation and innovation. This can lead to the creation of new features and functionality that are not possible on traditional social media platforms.

Overall, web3 social has the potential to transform social media by empowering users, promoting privacy and security, and fostering more meaningful connections between individuals and communities.