Cryptocurrency

How can blockchain revolutionize social media? Phaver aims to be the social hub for web3 #SlateCast 25

Phaver is a ‘share to earn’ social media platform that runs on the Lens protocol. This his Web3 social media platform allows users to own their data and generate income streams by posting and sharing content.

Phaver co-founder Joonatan explains the value of the platform:

“Users can use NFTs to manage their profile and manage their social relationships by following NFTs. I recognize that it’s about making it owned.”

In contrast to web2 platforms like Instagram, you may provide your profile in NFT form, but you can also decide which NFTs can continue to post on the platform.

Joonatan continues when users provide and own their data. Our job at Phaver is just to build a premium user experience.

platform

The Phaver ecosystem runs on Phaver Points and Tokens. Instead of the likes we use on all social media platforms, Phaver gives you the opportunity to wager tokens under your posts. Every day, each Phaver account receives 5 coins that can be wagered on 5 posts of your choice. A single staking will award 10 Phaver points to your staking account.

The staking feature works as gift tokens. These tokens are currently worthless, but will be worth more in the future after Phaver’s native token is launched. According to Joonatan, the team is working to establish a dual token economy and will reward early adopters at launch.

Phaver allows all types of content including text, videos, GIFs and photos. Users are also encouraged to re-share content they find on other of her web2 social media platforms. Each post is added under a predefined category to allow users to easily navigate between posts within her Phaver.

Usage

Phaver focuses more on rewarding users than protocols. The platform aims to generate money from advertising in a way that will boost native tokens.Joonatan describes the model as follows:

“We don’t want the invasive monetization model of scraping users’ online histories, direct messages and inboxes like Google and Facebook. Instead, we contextually target topics within Phaver.”

For example, if Nike wants to drop sneakers within Phaver, start by creating an organic post under the sneaker topic. Next, you will need to purchase Phaver tokens to facilitate ad posting within Phaver.

In this way, the revenue generated from advertising does not go into the pockets of platform owners, but is used to increase the value of Phaver tokens, benefiting all users.

How to earn and lose on Phaver

The idea of ​​rewarding those who create the best content is at the heart of Phaver. The more bets you win under the post, the more coins you get.

However, users looking for the best posts can also be rewarded.Joonatan said some users will help the team by promoting only the best content and disliking content that is fraudulent. , will be rewarded for their efforts.

The platform has also developed mechanisms to combat users with multiple accounts, squatters and spammers. If detected, the Phaver team has the authority to deduct his Phaver points from these profiles based on the severity of the damage they cause.

future

In its early stages, Phaver will primarily focus on two main features: discovery and support through staking. However, the team recognizes that it’s difficult to support all types of content in one feed without sacrificing user experience.

As such, Joonatan said Phaver will grow more fragmented. For example, that video-based content could evolve into something like TikTok instead of the current state of the app. In the future, Phaver aims to become a super app that mitigates all social data in one chain.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button