Web 3.0 Social
Democratizing Social Media
Many people have grown tired of the data exploitation that major corporations have taken advantage of and wanted to regain control over their data and content. This is where Web3 comes in; the Semantic “read-write-own” Web that revolves around decentralization and token-based economics. Rather than compromising personal data in exchange for free services, users can become participants and shareholders by earning on the blockchain network, which in return allows you to impact decision-making over a network.

Key Components of a Decentralized Social Media

1. Fair Creator Economy

Content creators and viewers' attention on social media is what gives these platform its value, yet the users are usually not rewarded fairly. On a web 3.0 social platform, you are in charge of your data and are rewarded appropriately when value is being generated. And for such an ecosystem to be sustainable, the tokenomics requires a balanced token inflow that redistributes to users.
2. Decentralized Content Moderation
In conventional social media, corporate entities control contents of major media, suppressing free speech and inducing censorship based on their regulations and standards. Infamous examples include Twitter taking down the account of then-President of the United States; Facebook temporarily prohibiting users from sharing Australian media in early 2021; Chinese media banning users who post about the president; the list goes on.
In the world of decentralization, platforms are governed by rules set out by the community itself, not one single entity can deem specific content inappropriate. Actions are carried out if consensus is reached between the network.
3. Control over personal data
One may question, does that imply my personal data is open to everyone on the internet? Just the opposite. Users do not need to reveal their real-world identities (e.g. name, addresses, bank accounts, etc.) on Web 3.0, making it difficult for third parties to follow and track users’ web-browsing behaviours using cookies.