Facebook and Twitter will soon disappear thanks to Web 3.0
As the Web 2.0 corporations started dominating the social-media space over the last 10 years, they collected data from billions of users and filled their pockets with this content, basically gorging on it. If you think about this in terms of copyright law, these companies are not only making money from their users’ content but also own that content, making it a perfect business model for these companies. Yet if you think about it from the content creators’ point of view, this model is not likely to be applied any longer.
Web 3.0 is here to help users reclaim their rights over their content.
As everything is being decentralized, and privacy, freedom, and independence have become even more important since Web 3.0 and its systems have entered our lives, these companies and their centralized rules have started to be rejected by users.
The companies have the right to set the rules and then force users to comply – then, if the rules are not followed, they have the right to just ban the users from the platform.
The Twitter management, for example, can decide who is to be banned from the platform; while Instagram can ban you for posting photos that don’t comply with their platform rules. It's like sitting in a primary school chair and listening to your teacher or principal lecture you on how you should behave.
Although the value and revenue of these Web 2.0 companies were created by the users and their contributions, these platforms are not hesitant to ban or, in some cases, even give away user data to governments.
Yet, how can Web 3.0 help us here? It will mean that big bosses will no longer be able to dictate who is allowed to use their platforms and under what conditions.
Another problem with Web 2.0 social networks is that they are not integrated. Let's say you have 1 million followers on Instagram and want to start an account on YouTube. You need to start from zero, as there is no option to move your followers over – they are connected to the separate platforms, not to you. You do not have control over your accounts or your followers. This even applies when the two different platforms are owned by the same company.
Such as Facebook and Instagram.
As it was the user who gathered all those followers, it should also be the user who has rights over and control over the followers!
Web 3.0 gives users an open ecosystem, creates new forms of monetization, and gives individuals more control over their content and followers.
New blockchains are about to appear
Multiple platforms have launched new social media platforms that host decentralized social-media apps. Examples include Lenster, Phaver, Iris (decentralized Twitter), and LensTube (decentralized YouTube), which were launched by the Ave team’s Lens Protocol and DeSo, backed by Andreessen Horowitz.
So how do these platforms work? With Lens, for example, users can link their content and followers to a crypto wallet using NFT, extinguishing dependency on the Web 2.0 platforms.
Anything shared by a user is linked and therefore shared across all the platforms they use.
And because their followers are also connected within the different platforms, their number of followers is the same on each platform.
Unlike the closed ecosystem in Web 2.0, users don’t have to build up a new audience for each new platform they register on because they will all be linked together.
Direct user monetization instead of advertisements
Another feature of Web 3.0 social media is how the platform will create revenue. Instead of pushing income through advertising, users will be able to monetize their work directly. Creators will be able to set a desired price for their posts or to be followed. This model will encourage users to publish more creative content.
Influencers will join the adoption effort
Although there are opinions that Web 3.0 will never compete with Web 2.0 and that older users of Web 2.0 will stay where they are, this is very unlikely as the benefits of decentralized social media are so significant. The promise (and delivery) of freedom will make content creators transition and bring their audiences with them.
In fact, there have already been examples of this transition among influencers. We can now see some famous influencers with their own platforms because their content is not allowed to be shared on some Web 2.0 platforms.
Why would users continue using these Web 2.0 platforms when they can have ownership of their own content and followers, when they can generate revenue and be independent, when they no longer feel like someone else is taking advantage of their efforts, and when they can link all their platforms with just one NFT?
Blockchain technology is bringing us a social media space that rewards users and creators instead of the platform owners, and gives us, in a certain sense, a new chance to be the owners of our own lives.
analyst opinion
Marcus Jr.
As the Web 2.0 corporations started dominating the social-media space over the last 10 years, they collected data from billions of users and filled their pockets with this content, basically gorging on it. If you think about this in terms of copyright law, these companies are not only making money from their users’ content but also own that content, making it a perfect business model for these companies. Yet if you think about it from the content creators’ point of view, this model is not likely to be applied any longer.
Web 3.0 is here to help users reclaim their rights over their content.
As everything is being decentralized, and privacy, freedom, and independence have become even more important since Web 3.0 and its systems have entered our lives, these companies and their centralized rules have started to be rejected by users.
The companies have the right to set the rules and then force users to comply – then, if the rules are not followed, they have the right to just ban the users from the platform.
The Twitter management, for example, can decide who is to be banned from the platform; while Instagram can ban you for posting photos that don’t comply with their platform rules. It's like sitting in a primary school chair and listening to your teacher or principal lecture you on how you should behave.
Although the value and revenue of these Web 2.0 companies were created by the users and their contributions, these platforms are not hesitant to ban or, in some cases, even give away user data to governments.
Yet, how can Web 3.0 help us here? It will mean that big bosses will no longer be able to dictate who is allowed to use their platforms and under what conditions.
Another problem with Web 2.0 social networks is that they are not integrated. Let's say you have 1 million followers on Instagram and want to start an account on YouTube. You need to start from zero, as there is no option to move your followers over – they are connected to the separate platforms, not to you. You do not have control over your accounts or your followers. This even applies when the two different platforms are owned by the same company.
Such as Facebook and Instagram.
As it was the user who gathered all those followers, it should also be the user who has rights over and control over the followers!
Web 3.0 gives users an open ecosystem, creates new forms of monetization, and gives individuals more control over their content and followers.
New blockchains are about to appear
Multiple platforms have launched new social media platforms that host decentralized social-media apps. Examples include Lenster, Phaver, Iris (decentralized Twitter), and LensTube (decentralized YouTube), which were launched by the Ave team’s Lens Protocol and DeSo, backed by Andreessen Horowitz.
So how do these platforms work? With Lens, for example, users can link their content and followers to a crypto wallet using NFT, extinguishing dependency on the Web 2.0 platforms.
Anything shared by a user is linked and therefore shared across all the platforms they use.
And because their followers are also connected within the different platforms, their number of followers is the same on each platform.
Unlike the closed ecosystem in Web 2.0, users don’t have to build up a new audience for each new platform they register on because they will all be linked together.
Direct user monetization instead of advertisements
Another feature of Web 3.0 social media is how the platform will create revenue. Instead of pushing income through advertising, users will be able to monetize their work directly. Creators will be able to set a desired price for their posts or to be followed. This model will encourage users to publish more creative content.
Influencers will join the adoption effort
Although there are opinions that Web 3.0 will never compete with Web 2.0 and that older users of Web 2.0 will stay where they are, this is very unlikely as the benefits of decentralized social media are so significant. The promise (and delivery) of freedom will make content creators transition and bring their audiences with them.
In fact, there have already been examples of this transition among influencers. We can now see some famous influencers with their own platforms because their content is not allowed to be shared on some Web 2.0 platforms.
Why would users continue using these Web 2.0 platforms when they can have ownership of their own content and followers, when they can generate revenue and be independent, when they no longer feel like someone else is taking advantage of their efforts, and when they can link all their platforms with just one NFT?
Blockchain technology is bringing us a social media space that rewards users and creators instead of the platform owners, and gives us, in a certain sense, a new chance to be the owners of our own lives.
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