The Development History and Future Outlook of Web3 Social

The Web3 social sector has experienced two cycles of development over the past eight years. Although it has not yet made breakthrough progress, it has accumulated valuable experiences and lessons. This article will outline the evolution of Web3 social, discuss the challenges currently faced, and look ahead to future development directions.

The Underlying Demand Theory of Web3 Social

Successful products are built on solid demand. The core demand of Web3 social includes:

1. Establishing connections: People need to connect with others.
2. Mental Interpretation: Perceiving others' emotions, attitudes, and mental activities through connections.
3. Self-coordination: Obtain feedback to correct one's emotions and cognition

Holding tokens provides a brand new way of connecting, while an open and verifiable database expands the dimensions of accessible information. This will nurture entirely new social relationships and interaction patterns.

The main psychological motivations for internet socialization include: self-presentation, emotional venting, and seeking validation. In the Web3 environment, token holdings have become a new bond of social relationships, while on-chain data provides richer dimensions for user profiling.

The Development Context of Web3 Social

The development of Web3 social networking shows two parallel trends:

1. Develop decentralized social technology standards
2. Establishing token consensus through social networking

Competition of Decentralized Social Technology Standards

Projects such as STEEM, Bluesky, Nostr, Lens, and Farcaster have proposed their own decentralized social protocols. The main challenge lies in how to break through the bottleneck of economies of scale.

The token incentive revolution encounters obstacles

Token incentives face two major dilemmas:

1. The subjective value of social content is difficult to assess, and the effectiveness of incentives is questionable.
2. Easily susceptible to witch attacks

The practices of projects like STEEM indicate that relying solely on token incentives is insufficient to continuously attract users.

Content autonomous revolution phase setbacks

Projects like Mirror attempt to achieve content on-chain and assetization, but have not effectively addressed the issues of content rights confirmation and protection.

The New Journey of Attention Sovereignty

Some projects are trying to develop content recommendation systems based on on-chain data, but have not yet made breakthrough progress.

Social Asset Tokenization

The project team attempts to establish a consensus on token value through social means, mainly including:

1. Attention Tokenization: Utilizing the Meme Effect
2. Tokenization of social relationships: Capitalizing social relationship
3. Content Tokenization: Exploring the Assetization of Content Rights

The bonding curve mechanism solves the liquidity problem for small-scale projects to some extent.

Opportunities and Mission of Web3 Social

Technological advancements have lowered the barriers to user access and enhanced the interactive experience. The combinability brought by open databases provides more possibilities for innovation.

The future development direction may be: allowing content to establish platforms, with links formed between platforms through third-party tools. This model is expected to break the monopoly of platforms on the value of content.

Blueprint of Web3 Social

Focusing on content, integrating various Web3 tools and protocols to create an immersive social experience. For example:

• Use decentralized media to publish content
• Content tokenization realizes fan economy
• Integrate DeFi, NFT and other functions to enhance interactivity
• Achieve content distribution through curation tools

The Mission of Web3

The mission of Web3 is to return the rights taken away by centralization to every individual, providing users with more choices.

Conclusion

The key to the success of Web3 social is: reducing costs, improving recommendation mechanisms, restructuring organizational forms with content at the core, and enhancing interactivity. In the future, it is necessary to explore how content and communities can interact better in a decentralized environment, which will determine whether Web3 social can truly gather traffic and realize its potential.