Social media continues to change the world of communication and marketing. The platforms in this space currently enjoy some of the most popular platforms they have seen.
October 2021 Research Data from Global WebIndex shows that about 57.6% of the world’s population uses social media and spends about 2 hours and 27 minutes on the platform every day.
Using cross-generational and demographic data, unsurprisingly, as the COVID-19 lockdown begins to dominate the world, usage will only skyrocket.additional research shows A typical social media user participates in 6.6 platforms on average. Some are even used more.
Current market leader Facebook has approximately 2.89 billion monthly active users, making it the first platform with more than 1 billion registered accounts. As of October 2021, YouTube, WhatsApp, Instagram and Facebook Messenger are among the top five most popular social networks based on the number of active users.
Although traditional social media platforms are still popular, more and more people are becoming dissatisfied due to concerns about availability, security and privacy. Centralized servers mean that social media companies maintain complete control over data, usually selling information to external entities for marketing and advertising purposes. Centralization also makes it possible for hackers to expose critical data and worry about complete loss of information in the event of a system failure.
Unsurprisingly, these key questions make many people wonder how blockchain technology can revolutionize the social media industry, especially when the relationship between creators and viewers shifts to less reliance on advertising and more attention to accountability .
As social media becomes more highly centralized and decentralized, many speculate that niche platforms that focus on specific components may be popular with users interested in customized content.
The innovation of social media in the blockchain field looks mature
Decentralized social networks, such as Bitcoin, Which is essentially similar to Twitter, allows users to connect with other people around the world and buy “Creator Coins” for creators and influencers. BitClout users can use the currency to bet on the creator’s future perceived value. In return, the creator can share special, exclusive content for creator currency holders.
Many people who use traditional social media regret the loss of posts and content, because centralization means that project team members can edit or delete information on their own.
Blockchain-based social media platforms, such as Love chain Solve this problem by providing users with a constant platform to celebrate and share their love for friends, family, hobbies and pets.
LoveChain’s blockchain-based ecosystem was established in Sydney, Australia, including social networking platforms, integrated third-party applications, content creators and online stores. LoveChain social network users interact with virtual versions of love locks found all over the world.
LoveChain is unique in the social media world because it is the first platform that allows users to create NFTs from the content they create. Then, users can reserve, share or sell their NFT in the LoveChain market.
Each user profile is assigned an encrypted code number, which symbolizes their unique relationship with the platform. Love-centered groups allow participants to create themes and interact with others in these spaces.
LoveChain provides a unique and profitable social media experience
The entire ecosystem is supported by $LOV tokens, and goods and services are exchanged quarterly. LoveChain also provides LOVR reward tokens, which users can collect through platform interaction (such as content creation, building a fan group, getting likes, sharing posts and data).
LoveChain is the first social media platform to reward content creators with tokens built into integrated wallets. LOVR tokens can be used to collect discounts and other benefits with platform merchant partners.
Social media fans who turn to LoveChain will find a platform with rich features and attractive user experience. Users can change the order of their posts on the feed to achieve optimal engagement while uploading a wide range of media and content.
Any media can be permanently saved to the blockchain to create souvenirs, but users can also fully control how their data is shared and used. Customization and personalization tools allow unique profile styles to be part of the overall user experience.
Compared with traditional platforms, blockchain-based social media platforms such as LoveChain maintain a series of advantages and advantages.
Decentralization helps reduce unethical data usage, promotes freedom of speech, and the inclusion of cryptocurrency (especially in platform wallets) enhances the reward and payment process. Overall, with the continuous development of technology, the combination of social media and blockchain technology seems to only continue.