Web 3.0 and the Future of Social Media in 2023

web3 social media

Social media is a vital aspect of many consumers’ everyday online media intake. The expected number of social media users worldwide exceeds 4 billion. Facebook (Meta) has controlled this industry for years. However, a variety of recent events precipitated a major decrease in this IT giant’s popularity.

Facebook and its subsidiary, Instagram, have been progressively challenged by new competitors, such as TikTok, for a number of years. Facebook and Instagram appear antiquated in comparison to other social platforms. The time has come for social networks to take a significant stride into web 3.0 and the metaverse.

How will Web 3.0’s social media operate?

Web 3.0 will bring significant changes to numerous Internet-related industries, including social media. Let’s examine how Web 3.0 potential will transform social media in greater detail.

Decentralization

When we refer to decentralized and web3 social media app development, we are referring to social networks that are run on independently operated servers as opposed to a centralized server owned by a firm. The advantages of decentralized social media are user governance, liberty, and autonomy.

There are already decentralized social media platforms. There are also Minds, Diaspora, MeWe, Mastodon, and Signal. These social networks have a high likelihood of gaining popularity in the near future, despite the fact that most of them may sound strange.

Immersion

People have been provided with interactive social experiences via social media for decades. Nevertheless, only digitally. Imagine that social media could be immersive, so that all the capabilities offered by social networks would be accessible in meta-reality.

We emphasize that immersiveness is the capacity to immerse oneself in the world, bridging virtual and actual encounters. Using special equipment such as VR glasses, AR software, and other technologies, this is possible. To be immersive, the traditional social media would need to be reconstructed.

Tokenization

In the near future, social media will offer several tokens.

According to Mark Zuckerberg, NFT could be included to Instagram in the coming months. Adam Mosseri, the CEO of Instagram, announced in December that the firm will implement non-fungible token technology.

In addition, Twitter began integrating and validating NFT with a new profile image function. This feature is available to subscribers of the Twitter Blue service.

Avatar

However, in the past, social media users could upload any photograph of themselves. On the Internet, you can be whatever you want to be. Web 3.0 social media will require the creation of avatars.

In addition, avatars and their skins will have a close relationship with NFTs.

New restrictions

Regulations will be a major problem for Web 3.0 social media.

Even in the present day, Web 2.0 social media challenges include misinformation, data privacy, cyberbullying, and harassment, among others. The problem’s scope remains unresolved! Web 3.0 platforms will therefore inherit these difficulties in order to address them.

Given that Web 3.0’s social media would be decentralized and managed by the community, the issue naturally arises: Will users reach a consensus on what is acceptable in social media? With the help of web3 consulting company you can choose the best social media platform. 

When the Internet became accessible to the general public, everyone declared that it was a new, lawless world that provided complete freedom. However, the expectations do not match the reality of the Internet as it exists now. Therefore, we cannot be certain that Internet Web 3.0 will ensure safety and liberty.

Future social media

Web3 Social media with metaverse characteristics are not merely a futuristic concept. Let’s examine some examples of these social networks.

Second existence

During the metaverse craze, Second Life’s creators can remark with pride, “We were the first.” Second Life is a 3D virtual environment built with social network aspects. This gaming project is not simply an online game, but an entire virtual universe. There are no required tasks or upgrades for heroes. In this virtual environment, users participate in interest communities, produce virtual items, construct, communicate by voice or chat, and travel. In addition, Second Life features its own currency, the Linden Dollar (L$), which can be traded for real-world currencies.

Mastodon

Disapprove of Elon Musk’s ability to make Twitter private? Mastodon must be a suitable alternative!

Mastodon, unlike centralized social networks, is not controlled by particular providers and users can construct their own instances. Any user can create or join a social networking site.

Users of network-connected nodes are able to communicate with one another. In addition, unlike typical platforms that employ SaaS, its architecture is decentralized.

Horizon Global

With the introduction of this web3 social media network, many believed that Meta was attempting to acquire a monopoly on the Metaverse. After more than two years of testing, Meta has finally released Horizon Worlds.

Horizon World is accessible using Oculus VR glasses. Users enter the Horizon universe, where they can design their own avatars, meet other users, make new friends, and construct Horizon Worlds.

Creators cannot directly profit from their own universes. Instead, $10 million was allocated to a “creator fund” to reward community creators who win competitions. This is unlike apps like Roblox, where game developers may sell their games for in-game currency.

Zepeto

This social networking platform gained immense popularity in 2018, and it appears to be seeing a second wave of popularity due to the metaverse craze.

The digital currency used to purchase new movements and greetings on Zepeto.

The advancement of technology makes the world a better place. The manner in which we live, talk, and engage with one another evolves. What will the future of our communication look like? Possibly, the metaverse will become an integral part of our existence, and one day we will learn that Zuckerberg has decided to permanently remove Facebook.

One thing should stay clear: internet communication should not replace in-person communication.

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