Web3 Track Outlook : Relations, Chansons, Fan Business

First, what Web3 means for users

Web3 is a broad concept, and one of the key concepts is the use of blockchain technology to achieve classification based on Web2, giving users ownership and independence of their data. In the past, in Web2, these intermediary platforms held user data and content, so there was a risk of data leaks, data communication between platforms could not, and users could also be shut down amid censorship and blocking. . No participation in principle, revenue sharing. Therefore, Web3 is considered as a solution to these problems.

However, it is difficult to change your attitude. Users must be visible to attract more users to web3. In this process, encrypted calls as a significant role of the level of encouragement. Introduction of the Encrypted phone is to change the amount of money to make the producer and employees of the central office.

2. What aspects of Web3 should we focus on?

We believe that the best way to attract users when saving money and time spent on the Web2 platform is to grow them through the Web3 paradigm. As an example of a Gamefi project, the Play to Earn model distributes revenue traditionally available to game companies for gamers. Apart from games, what other options can be spent without earning money on the platform?

Figure 1: Global timeline of mobile app usage from 2016 to 2019 (Source: Statista)

This map bar shows how users often spend their time in apps such as social media and entertainment apps. That said, these tracks also represent a major milestone in Web3.

(1) SocialFi

Socialization is an integral part of human behavior. Whether it is the Web1 era or the Web2 era, relationships has been an area that started early and has had the greatest impact on the development industry. If we go back to the history of online development, MSN was founded in 1995 in the era of Web1 (1993-2002), QQ in 1998, Facebook in 2004 and Youtube in 2004 in the era of Web2 ( 2002-2018). In 2005, Twitter was launched in 2006. Social applications help test the latest technologies.

Figure 2: Growth of Internet users from 1990 to 2016 (Source: Statista)

SocialFi and the creator of the relationship with behavioral relationships are important tips for the cryptocurrency industry to become important. In Web2, the central social platform receives user information and most revenue, and the central platform has privacy issues. As a tool with different products, blockchain can facilitate business and change the relationship between production.

With a small Web3 user base, incomplete resources, and poor product quality, SocialFi and its developer app are not yet ready for big success. It will take a long time for industry leaders to reap the rewards. The social interaction concept of Web3 may be a hot topic in the short term, but the infrastructure is more important.

Web2 is not considered a global application until it reaches 1 billion users, and Web3 estimates the number of global users by 2024. Web3's infrastructure is still not supported by users massive content and cryptocurrency distribution. Currently, for regular users of DApps, the impact on access and usage costs is high, and the usability and process are very long.

Figure 3: Internet encryption and adoption rate (Source: REVIX)

The Web3 application layer could be better developed once the process is complete, and it is likely that the SocialFi framework will be developed before 2022. The process we are focusing on now is for public chains (Ether, Dfinity, Polkadot, etc.), DID (ENS, Handshake, etc.), wallet-like browsers and portals (BRAVE, Phantom, etc.), and distributed (Arweave). etc.), recovery data (graphs, etc.), recording platforms (mirror, rally, etc.).

It's too early to talk about trail leaders, but some relationships can be trailblazers. Replicating traditional social media in Web3 is very difficult. Because it requires a lot of sacrifice, high activity, and minimal impact on user access from Web2 to Web3. Centralized social platforms such as Facebook and Twitter are still crawling Web3 submissions, but interest and addiction are poised to protect the whole of Web3.

The Web3 social project is expected to transform the existing social platform platforms, meet the real needs of users, and improve the experience of all users of existing social networks. We are excited about new models of social networks based on cryptocurrencies, AR technology, and more, such as games based on social or virtual virtual content (GameFi, NFT, Metaverse, etc. have a relation of property) or relationship and DAO.

We believe that high performing jobs should meet the following criteria:

It has a low running cost, low UGC product power, clear operational goals and does not require as many end users as content developers.

Easy operation and good performance.

A fair and profitable token market, and the role of tokens has been highlighted.

This project has a unique eye, it can spread quickly and attract more users at a lower cost.

The products are very secure and can provide users with long-term support.

(2) music project

Along with social media campaigns, music campaigns are one of the most promising developers in the early days of Web3. There are many niche music creators and some professional designers, but they are not very popular on the Web2 platform. Also, the music industry has lower expectations. Thus, the music platform could be the first bridge to convert more Web2 users to Web3 users. Track capabilities include built-in music rigs, music-based NFTs, and more.

The main problems facing the Web3 music platform are ambiguous design and legal issues. For example, as a decentralized streaming media platform, Audius does not interfere with traditional streaming media standards and does not function as a token quality. Audius' next development will be in the next stage of the project.

On the other hand, we believe that music-based NFTs could explode by 2022. Meanwhile, after the craze for image-based NFTs, users already have a better understanding of the NFT project, and the costs of user training is reduced. Meanwhile, more and more companies are getting started, and more music-based NFT projects will be unveiled in the future. The main problem now is that musical NFTs are controlled by niche musicians and need better musicians to expand their power.

(3) economy

The combination of NFT and the fan industry in music and other entertainment has ample room for growth. Business fans don't work in the age of Web2. However, with the introduction of NFTs in Web3, fan marketing can achieve better business results through fan community, interest and creativity.

Specifically, Web3 can provide the following benefits:

The first is the price level.While most advertising and subscription models use shared costs, Web3 allows different products and services designed with different NFTs and payment formats to be flexible.

Second, fans and stars can be directly affected, and intermediaries such as writing companies can no longer earn content.

Finally, users can reap the benefits of business and voice while spending time and money on it, making them more willing to participate.

The purpose of the fan industry depends on the fans, and the key question in 2022 is whether the fan industry could impact the NFT or cryptocurrency industry. As Web3 grows and the users of certain platforms grow, the vital stars of the cryptocurrency space will gradually appear.

It is difficult to directly publish the works of famous stars due to copyright issues. Therefore, the fan industry should not be limited to star performance, and the NFT heritage should be broader, such as star-related activities, parties and concerts. The difference between NFT staff can attract celebrities and attract more fans.

3. Conclusion

Web3 is still in the early stages of development and the infrastructure is essential. In terms of application, the adoption of cryptocurrencies needs to increase to a certain level for the application to be successful at scale, and also requires early application with attractive features to attract a large number of users.

Conversations are worth writing as a path to the main point, we have more hope in activities that can transform existing relationships, make users feel real, and improve existing community experiences.

In addition to social media chats, developers are also a valuable area for Web3. Music projects have few requirements and can be completed early. Additionally, the fan industry is a key player in success, and NFTs can play an important role.

However, Web3 needs to solve the business issues. The token industry model wants to have the income from the investment because the real demand is stable. In Web2, the most important revenue source for advertising is revenue, which is marketed by many consumers based on their marketing needs. Then, in the era of Web3, it was also necessary to maximize the income generated by the necessary marketing.

There is no clear answer yet, but improving Web3 will solve the business problem. As in the early days of the Internet today, there are many types of business models that no one can imagine. Let's be positive and open to learning and creating waves of Web3.