What Are Web3 Social Media and Which Are the Best?

Posted by Micck Davis on November 3rd, 2022

Web3 and Blockchain technology is being used by a growing figure of people, and one way this is happening is through decentralized apps (DApp).

Traditional marketplaces are being disrupted by decentralized programs like Curve Finance, which allows users to earn interest on their assets, as well as the realm of interactive games.

As a result, we wondered, "Could we build a Web3 social media app development networking site that is completely decentralised and runs on the Blockchain?"

The Emergence of Web3 and the "Creator Economy"

The expansion of social media platforms has contributed significantly to the acceleration of the "creative economy." Then, all of a sudden, content creators could reach a vast audience and help to develop a multibillion-dollar industry.

However, social media platforms such as Facebook, Instagram, TikTok, and YouTube only share a small portion of producers' earnings with them. The problem is that too much authority is concentrated among platforms that act as content "gatekeepers."

Individual users can distribute and regulate data storage and access with Web3. Many artists saw it as an opportunity to avoid the sexist business mechanisms associated with dominant platforms.

1. Niche

Niche bills itself as an ad-free, decentralized platform for developing Web3 social media apps. It is made up of user-run hubs where members can develop, distribute, and sell their own content, which includes NFTs.

2. Reputation

Artur Sychov, the founder of Somnium Space (CUBE-USD), has launched Authencity, a new social networking platform. A Web3 site, to be sure.

Sychov defines it as "an unstoppable on-chain social media network."

The brand-new Web3 platform has been available for more than a week. So far, about 3,000 posts have been made.

3. Observed

Peepeth is an open-source social networking application that runs on the Ethereum blockchain (ETH-USD). Bevan Barton, a full-stack engineer, founded the startup in November 2017.

Peepeth is a far superior alternative to Twitter, which is centralized and is progressively getting a poor image for policing and screening accounts. Peepeth is a non-centralized solution, which means that neither the company nor the government has access to user data.