Social Media is a broken system - but can Web3 fix it?
Social Media is a broken system - but can Web3 fix it?
You open Instagram. Boom—an AI-enhanced picture of your high school friend pops up, and it’s painfully obvious it’s been filtered to oblivion. You scroll down, and the algorithm feeds you a stream of ads disguised as inspiration. Next, you check YouTube, only to find AI-generated thumbnails of creators stealing just enough content to be “trending.” Everything feels fake, over-optimized, and disconnected. And let’s not even start with the nagging worry about who’s profiting from your data.
These aren’t just isolated annoyances—they’re symptoms of a fuckedup system. Social media, once a revolutionary tool for connection, has become a breeding ground for exploitation, misinformation, and surface-level interactions. But let me suggest the idea that this system is unfixable at this point! I believe we have to build a new paradigm of human interaction online if we want to move forward as a species.
Welcome to the Web3 revolution—a vision of a more fair, human-centric internet. Let’s explore the current options and where might the future take us.
The current state of social media
Nowadays we can’t even wake up without checking our traditional social media platforms, such as Facebook, Twitter, and Instagram, since they have become integral parts of our lives. However, they are designed with fundamental issues:
Centralized control: These platforms are controlled by corporations that prioritize shareholder profits, often at the expense of user interests.
Data privacy concerns: Centralized servers and opaque policies lead to widespread misuse of user data.
Censorship and lack of transparency: Users have little control over content moderation, resulting in censorship controversies and lack of accountability.
Monetization challenges for creators: Content creators often face high platform fees and limited avenues to directly engage with their audiences.
Web3 promises to address these problems by bringing a completely new design philosophy to the table, ushering in a new era of empowerment for users and creators - or simply said, humans. Say hello to SocialFI platforms - blockchain first social media.
5 legs that SocialFI stands on
Decentralization
• Blockchain technology ensures that no single entity controls the platform. This eliminates central points of failure and reduces the risk of censorship.
• Data is stored across a distributed network, enhancing security and transparency.
User ownership and tokenization
• Web3 platforms introduce native tokens that enable users to own a stake in the network.
• Tokens can be earned through meaningful contributions, such as creating content, moderating discussions, or inviting new users.
Enhanced privacy
• Users retain ownership of their data through decentralized identities and cryptographic security.
• Platforms like Lens Protocol and DeSo prioritize user consent for data sharing.
Community governance
• Decentralized Autonomous Organizations (DAOs) allow users to participate in platform decision-making.
• Voting mechanisms ensure that changes are aligned with the community’s interests.
Direct monetization for creators
• Creators can monetize their work through NFTs, subscription models, and direct token-based transactions without relying on intermediaries.
• Smart contracts automate revenue sharing, ensuring transparency and fairness.
SocialFI projects I recommend to keep an eye on
Lens protocol: This is a tool that gives developers the chance to develop decentralized social graphs enabling them to build Web3-native social media apps.
DeSo (Decentralized Social): A blockchain designed for scalable, decentralized social networks, offering tools for creators and developers. You can find it in use on the platform called Diamond App.
Mastodon: Though not blockchain-based, Mastodon exemplifies decentralized social networking through federated servers.
Nocena: A new and exciting project I am working on along with my team allowing users new ways of interacting together and mainly focusing on giving the creators control of monetization of their content.
Steemit: A blockchain-based blogging platform where users earn cryptocurrency for creating and curating content.
The Road Ahead
The Web3 revolution is not merely about cool technology—it represents a shift in power from centralized entities to individuals and communities. By prioritizing transparency, privacy, and user ownership, Web3 social media platforms are paving the way for a fairer digital ecosystem. This is a change I see as absolutely crucial if we want to design fairer and more useful tools for having meaningful human connections online.
I believe the question is no longer “if” but “how” Web3 will redefine how we connect in the digital age. Are you ready to join the revolution? Or are you going to remain comfortably sedated by the fake AI algorithms feasting on our greatest human skill - our creativity?
