Sirwin
Sirwin
Polkaverse social-fi

Social-fi is coming back for another bullrun with polkaverse leading

By Ticktalker | ticktalker'sblog | 18 Feb 2024


Socialfi was a big narrative in Q4 2023, with projects like tipcoin and starsarena topping the charts.

 

But like every narrative it lost fuel and the hype dwindled down, you may want to know why....

 

Web3 social-fi are not easy to use for the common social media users, they were not cheap to join and most discussions held in them are mostly web3 focused.

 

But I recently found a project that is tipping the scale to another direction and no, it is not farcaster. It is subsocial.

 

Subsocial is a project built under the polkadot ecosystem. 

 

It is a playground for developers to build their social Dapp and customize to look like other existing web2 social apps.

 

The goal is to utilize Blockchain technology to remove intermediation and give you sole ownership of your data.

 

Two of the most exciting project I tried out in subsocial are polkaverse and grillchat.

 

Polkaverse is building a system where creators are rewarded and the followers as well are rewarded equally for their time.

 

How is this possible.....well with content staking on the polkaverse Dapp. All you have to do is create your sub id, join polkaverse and stake 2000subto become a create. While your stake tokens generate more tokens for you through staking, your content also generates tokens for you.

 

You also burn some tokens to generate energy to carry out transactions. When I say transactions I mean stuffs like posting, retweeting, commenting, liking posts, following people...they all cost a small 0.03sub.

 

One sub is currently traded for 0.0099usd,so you can see that I nearly nothing.

 

For my experience, I joined polkaverse 3 days ago, and all I spent while joining was 2000sub for staking (which I can withdraw anytime) and 5 sub burnt to create energy for transacting.

 

As at 8 hours ago I have already made 1153sub from content staking alone, that is 57% of what I invested.

 

So while many people were out there degening and trading futures, I was just chilling in polkaverse and making money. That is the future of social-fi.

 

So mentioned grill.chat early, yes.

 

While polkaverse is for interacting and posting stuffs, grill.chat is more for community building and close chatting.

Grill UI is very similar to that of telegram and they are said to be working on the monetization for chat feature.

 

This is alpha, do what you please with it, I have taken my position. 

 

Ciao

Ticktalker out

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Ticktalker
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I am a comic relief content creator and web3 enthusiast, I write contents to share things I learn and research about.


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