We saw many new trends in the blockchain space of recent, especially in 2021 and 2022, although some of them have been around for some years back. SocialFi is one these popular trends in the cryptosphere that was made possible by web3. Many SocialFi platforms are already gaining popularity and will be the new social media platforms in web3. Content creators are really interested in SocialFi because it gives them more authority over the contents they share, and even help them earn money from them. Such earning opportunities via their content (create-to-earn economy) was rarely possible in web2 social media, where the social media owners take almost all the income generated by the contents in social media, with little or nothing for the content creators. SocialFi platforms have a different profit-sharing structure, by making it possible for users to earn rewards for creating content. In this article, you will learn all about SocialFi, some of the blockchain-based Social media platforms and decentralized social network projects where you can make money from your contents. You will also learn how to use them.
- 1 What is SocialFi?
- 2 iMe Lab (LIME) – imem.app
- 3 Torum (XTM) – torum.com
- 4 KALA Network (KUDO and KLNW) – kala.network
- 5 Bizverse Social (BIVE and VRA) – my.bizverse.world
- 6 Taki (TAKI) – taki.app
- 7 Myriad Social (MYRIA) – myriad.social
- 8 Dotmoovs (MOOV) – dotmoovs.com
- 9 Other Top Decentralized Web3 Social Network Projects
- 10 Recommended Business and Entrepreneurship Books
What is SocialFi?
SocialFi means Social Finance, which is the combination of decentralized finance and social network or media, made possible by web3 and blockchain technology. SocialFi platforms are similar to social media networks in web2, such as Facebook, Twitter, etc. All the social features such as: friends, chat, likes, groups, page, comments, etc. are available in web3 SocialFi platforms, and some blockchain-based features were added. Some of these blockchain-based features added to SocialFi platforms are mostly DeFi services such as: staking, yield farming, NFT marketplace, social trading, etc. These blockchain-based social media services made it possible for users to earn from their social activities in these platform, and even invest in these SocialFi platforms for reward or profit. Also note that some SocialFi networks also incorporate GameFi features, which brought about SocialFi + GameFi projects.
In web2 social networks, big companies hold control all the data and use them as they wish. But in SocialFi networks, data is spread throughout the blockchain nodes, and all those who help to maintain the functionality of the platform are rewarded financially. Also in web3 SocialFi networks, privacy and security are improved, while data breaches are minimized, and there is no risk of single-point failure.
Now check out some of these web3 blockchain-based social media networks and how to use them.
iMe Lab (LIME) – imem.app
iMe is a unique, multifunctional DeFi and AI platform, with advanced functionality, powered by Telegram API, and also features a non-custodial crypto wallet. iMe app is available to users all over the world, both crypto users and non-crypto users.
The non-custodial wallet and DeFi tools offered by iMe makes the storing, trading and transferring of cryptocurrencies possible via the Ethereum and Binance Smart Chain (BSC) network. Also, you can make crypto transactions directly in chats, via Telegram ID, QR code and public addresses. You can also request payments and transfer funds instantly without fees, which was made possible by the integration of Binance Pay with linked Pay ID. Through the staking and farming programs within the app, you can earn a passive income instead of allowing your stored digital to lie idle in your wallet.
Check out this guide on How to Setup and Use iMe Web3 SocialFi App.
Torum (XTM) – torum.com
Torum is a DeFi, Web3, SocialFi network designed for crypto users worldwide, where you are rewarded for creating useful contents in the platform. It is a unique crypto ecosystem connects crypto projects and communities worldwide together. You can earn by simply importing or sharing your data from other social media network like Twitter or Facebook in the SocialFi platform.
You can interact with your friends, and get crypto news updates round the globe via the platform. The Torum news section helps users to catch up with updates from their favourite crypto projects. Torum news section utilizes web crawlers to generate news automatically with specific keywords in popular news and social media platforms.
Check out this guide on How to Setup and Use Torum Web3 SocialFi App.
KALA Network (KUDO and KLNW) – kala.network
KALA Network is a web3 SocialFi platform where you earn KUDO token by interacting with your friends and community. You can then use KUDO/KLNW to buy PENCIL/PEN NFTs to increase your earning, level up and mint new PEN NFTs. The platform also has some GameFi features that provides various ways the users can use their PENCIL/PEN NFTs to increase their earnings.
Check out this guide on How to Setup and Use KALA Network Web3 SocialFi App.
Bizverse Social (BIVE and VRA) – my.bizverse.world
Bizverse is a web3 virtual reality world, a digital replica of the real world of human society. Here, the users live, work and participate in various activities such as: business, entertainment, trade events, exhibitions, conferences, shopping at virtual malls, etc. The project also includes a social networking platform and digital economic models of the blockchain technology, which include: DeFi, NFT, Ecommerce, crypto trading, etc.
By combining Virtual Reality (VR) and Augmented Reality (AR) with 3D models on the platform of 3D map, Bizverse creates a virtual reality world that mimics people’s activities in the real world.
Check out this guide on How to Setup and Use Bizverse Social Web3 SocialFi App.
Taki (TAKI) – taki.app
Taki App is a global web3 social network platform where users can earn social cryptocurrencies by performing some tasks with the ecosystem. As a user, you can earn TAKI (the native token of the Taki app, powered by Solana ecosystem) by creating contents and or commenting on some of the posted contents in the social network. Some of the supported content formats on Taki social network include: text, images and GIFs. Video and other formats will be incorporated soon.
You can use the TAKI tokens you earned to buy user coins, which represents the value and also influence users of the Taki app. Also, you can use TAKI token and user coins to reward users and grow your audience as a creator, and then have a share in the ownership of the Taki ecosystem.
Check out this guide on How to Setup and Use Taki Web3 SocialFi App.
Myriad is a fully decentralized SocialFi network platform that allows you to turn your web2 contents into web3 data on Myriad’s social app. Myriad is not just a web3 social app, it also has metaverse and messenger features, which are seamlessly integrated to give the best possible user experience and use case. What this means is that you can claim ownership of your web2 contents (social media posts and multimedia content on web2 social networks like Facebook and Twitter). Then myriad will convert these contents into blockchain web3 data, which you can monetize.
Check out this guide on How to Setup and Use Myriad Social Web3 SocialFi App.
Dotmoovs (MOOV) – dotmoovs.com
Dotmoovs is similar to the TikTok app where you can make and upload your video for other users to see. But here, you are uploading your sports fitness (football skills or dance skills) and you are rewarded with the MOOV token.
Note that Dotmoovs is also a move2earn project. It actually combines GameFi features with SocialFi features. You can chat with your friends via the Dotmoovs app and also see a feed of videos posted by other users of the app.
Check out this guide on How to Download and Use Dotmoovs Move-to-Earn App.
Other Top Decentralized Web3 Social Network Projects
- Steemit (STEEM) – steemit.com: A social network owned and operated by its users, powered by Steem blockchain.
- Sapien – sapien.network: A decentralized protocol that helps you build, connect and invest in networks of DAOs.
- SocialX (SOSX) – socialx.network: A community-driven social media platform allowing users to publish photo and video content. The platform is very similar to Facebook and Instagram. But the major difference is that it’s a decentralised blockchain platform where everyone can earn cryptocurrency SOCX token rewards.
- Mastodon – mastodon.social: An open source decentralized social network – by the people for the people. It is one of the lightest and fastest blockchain-based social networks, and it’s very similar to discord.
- Minds – minds.com: An open source social network dedicated to Internet freedom. Speak freely, protect your privacy, earn crypto rewards and take back control of your social media.
- Rally (RLY) – rally.io: A platform for creators and their communities to build their own independent digital economies.
- Peepeth – peepeth.com: A blockchain-powered social network for our best selves, where you can post contents instantly and for free (no cryptocurrency required).
- Mask – mask.io: A Network that brings privacy and benefits from Web3 to social media like Facebook and Twitter, with an open-sourced browser extension.
- Nafter (NAFT) – nafter.io: The first NFT marketplace platform allowing anyone to mint, buy and sell NFT tokens in a social media settings.
- Coinvise – coinvise.co: Offers powerful, no-code tools for creators to launch and manage web3 communities through community tokens and NFTs.
- Mirror – mirror.xyz: Helps you create anything from a web3 blog to the next big DAO.
- Ultra (UOS) – ultra.io: The first entertainment platform providing a variety of games industry services under a single roof, accessible through a single login. Discover, buy, and play games, watch live-streaming feeds, interact with your favorite influencers, participate in contests, compete in tournaments and much more.
- DeSo (DESO) – deso.org: A layer-one blockchain network designed to scale decentralized social networks and web3 social applications. It’s native token is DESO.
- 35+ Best Blockchain Move-to-Earn Games & How to Play them
- 30+ Best Blockchain Play-to-Earn Games & How to Play them
Recommended Business and Entrepreneurship Books
The Passionate Entrepreneur’s Strategies: Learn how to discover business ideas that will be successful, grow multiple online income streams, make money from home, attract new & retain customers, applications of SWOT analysis in any business, skills that will help you succeed as an entrepreneur, self-discipline, etc. Lucrative Business Ideas Series Book 1. By Buzzer Joseph. Read more about the book.
How to Make Money from Blogging & Affiliate Marketing: Learn the Step by Step Guide of Creating, Growing & Optimizing your WordPress Blog from Scratch for Search Engines (SEO) & How to Make Money through Google AdSense, Affiliate Marketing & Other Strategies for Earning Passive Income Online. Lucrative Business Ideas Series Book 2. By Buzzer Joseph. Read more about the book.
How to Make Money Self-Publishing Kindle Books for Beginners: Learn the Step by Step Guide to Self-Publish a Best Selling Book on Amazon KDP, How to Design Book Covers with Adobe Photoshop, Format, Edit & Proofread your Book Manuscript with Microsoft Word, Promote your Book on Various Online Platforms & Earn Monthly Passive Income Online. Lucrative Business Ideas Series Book 3. By Buzzer Joseph. Read more about the book.
Complete Solar PV System Installation Guide: DIY guide on how to install grid-connected & off-grid solar PV systems, how to build solar-powered electric cars, convert conventional cars to electric cars, online & offline ways to make money from solar energy sector (including stocks), electrical wiring & protection system installation guides, plus free resources for skill acquisition and personal development. Lucrative Business Ideas Series Book 4. By Buzzer Joseph. Read more about the book.
How to Make Money from Crypto Trading & Investing for Beginners: Step by step guide with screenshots on the basics of blockchain technology, bitcoin & altcoins, crypto security tips, cryptocurrency market analysis (FA & TA), long term & short term trading, how to calculate your profits in excel, legit ways to make money with cryptocurrencies, DeFi yield farming & staking, how to use any centralized & decentralized exchange platform & more, plus crypto investment bonus! Lucrative Business Ideas Series Book 5. By Buzzer Joseph. Read more about the book.
Blockchain Practical Guide: Step by step guide with pictures, on how to monetize the latest blockchain technology trends: crypto trading & tools, especially Ethereum, DeFi, Staking, NFTs, Top 100 Play-to-Earn (P2E) & NFT games, Web 3.0, Metaverse, Virtual Reality (VR), Augmented Reality (AR), blockchain job opportunities, with crypto investment bonus! Lucrative Business Ideas Series Book 6. By Buzzer Joseph. Read more about the book.
How to Make Money with Blockchain Web3 Apps: Step by Step Guide with Screenshots and Videos on How to Make Money from Blockchain and Web3 Projects – NFTs, Play-to-Earn (P2E) Games, Move-to-Earn (M2E) Apps, Watch-to-Earn (W2E) Apps, SocialFi and GameFi Apps, with crypto investment bonus! Lucrative Business Ideas Series Book 7. By Buzzer Joseph and Kelly Joseph. Read more about the book.