Social network platforms like YouTube, Twitter, Instagram and Facebook are some of the biggest and widely used. They keep extending their reach, racking up in-app services that transcend just social media while gathering millions of users yearly.
In the US alone, around 80% of the population uses at least one social media network and in at least one form or the other. However, despite the wide patronage and years of success, issues such as data breaches and worldwide crashes still trail the biggest social media platform, Facebook.
The world needs the next best alternative to existing social media platforms. We don’t have to look too farㅡblockchain technology is in its early stages of disrupting the future of social media via social tokens and even smart contracts. Here’s how.
What Does the Future Hold for Users, Companies, Social Scientists and Advertisers as the Blockchain Social Media Market Emerges?
While still disrupting key industries like education, accounting and fintech, blockchain is already changing the course of social networks for generations to come. A fine blend of blockchain-enabled social media networks and cryptocurrencies will act as a future foundation of social media platforms.
Meanwhile, decentralized social media platforms are slowly and steadily becoming a mainstream reality. One of their high points in this revolution is that users can create their decentralized social media networks at will and make them available to whomever they want.
What’s more, blockchain collectibles and digital assets like cryptos will influence these new and improved social media platforms and websites. Expectantly, experts predict a paradigm shift in how consumers, companies, social scientists, advertisers and marketers view and leverage social networks.
Consumers and Users Stand to Gain From Blockchain-based Social Media Platform
Decentralized platforms are steadily becoming the solution for users who want the option of choosing the platforms to establish their social, personal and work networks.
Meanwhile, the opportunity to earn cryptocurrencies for regular activities they currently do with existing social media platforms coupled with rewards for contributing to the growth of blockchain-based social platforms will be too good for users to pass up.
Imagine a world where you earn small amounts of Ethereum or Bitcoin for social media posts or whenever you site and fix errors or bugs. That could be the future of blockchain-based social media platforms.
What’s more, blockchain tech and smart contracts might influence the end of the "fake news" era. With blockchain disrupting the future of social media, content distribution will be based on verifiable information as well as sharing of traceable data.
Companies Can Expect More Directness When Dealing With Social Media Customers
Companies around the world are on the hunt for customer outreach platforms where they can increase ROI and marketing returns on their investments. Why is that? For one, the increase in bot issues on popular social media platforms like Facebook and Twitter is a major reason.
But with blockchain-based platforms, businesses reserve the right to engage with only customers with verified digital identities as enshrined in the smart contracts.
More so, this goes a long way in helping company execsーwho are opposed to the idea of social media marketing due to the occasional false leads it generatesーto make more result-bound decisions.
Through new and rising platforms, blockchain technology can secure the pages of companies and businesses running marketing on various Web3 networks.
Advertisers Will Be Able to View Their Market Clearly Thanks to Blockchain and Smart Contracts
Just like verified identities will have an influence on the future of all blockchain-enabled social media networks, verified markets of companies and users with similar interests will also influence the conversion rates of advertisers.
It’s exciting to know that markets are already racking up the much-needed growth to meet specific needs.
In the long haul, we can expect this pattern to continue even as blockchain technology goes mainstream, helping businesses across different industries achieve their true potentials.
Besides, as a marketer or advertiser, it’s easier and more convenient to market to a verified group of individuals and businesses that already share interests in the products and services you offer.
Such a move is bound to reduce marketing efforts and also increase conversion rates. In short, verified marketplaces are one of the thresholds for the future of blockchain-enabled social media marketing.
Subsocial’s Solution May Well Be One of the Thresholds for the Disruptive Blockchain-enabled Social Networks
In 2019, through the help of his DappForce team, Alex Siman, created Subsocial to address existing and futuristic social media challenges.
Subsocial is an open platform that permits anyone to launch their own decentralized, censorship-resistant and permissionless social networks and marketplaces.
Think of platforms like Twitter, Discourse, OnlyFans, Reddit or Instagram and imagine these popular sites as decentralized, blockchain-based platforms. It gives absolute powers to the users without the annoying control and moderations from the founders.
In essence, Subsocial enables users to maintain true freedom online, helping them capture the complete value of their work. While users of current social media platforms like Facebook or Twitter provide value to these networks, they hardly get rewarded for it.
But with emerging solutions like Subsocial, that could all change. Users who host content exclusively on Subsocial’s platform will receive the full worth of their content and creations through subscriptions and tips.
Subsocial also eliminates any form of middlemen that stands to profit off of users. What’s more, the use of blockchain technology will wipe away the era of harvesting user data, manipulating content algorithms, and influencing users’ ideologies or emotions.
The subsocial platform makes use of the Substrate blockchain framework and IPFS for its decentralized file storage.
Doing so should help enable features and benefits like transparent reputation, rich content formats, personalized news feed and notifications and full text searching even without sacrificing SEO.
Also, Substrate allows Subsocial’s users to connect to new and exciting Kusama and Polkadot networks. In short, Subsocial is social media unbounded, and Polkadot will provide it with cross-chain interaction and a shared security platform where it can scale and still stay secure.
Businesses that rely on social media to establish their brands are realizing that their investments may well be for nothing.
But with the coming of blockchain-enabled social networks, users, consumers and companies, are in for a change. Platforms like Subscocial represent the threshold for a world of decentralized social media networks rewarding users for their creations.