SocialFi is actually a combination of Social and Finance. We can obtain more benefits through the financialization and tokenization of our social influence.
In-depth articles
After DeFi Summer, many market hotspots such as NFT, GameFi, and Metaverse emerged in the crypto industry, and people who have not successfully grasped the hotspots expect to be able to deploy the next market hotspot in advance. And SocialFi is a future direction that many people are optimistic about --- social networking is a strong demand for Web3.0.
Learn about SocialFi
SocialFi is actually a combination of Social and Finance. We can get more benefits through the financialization and tokenization of our social influence.
For a better understanding, let's take a look at GameFi first. GameFi is a brand-new gameplay that introduces DeFi gameplay into blockchain games, in which players can earn profits by playing games. And this is the most important part of GameFi --"Play to Earn". Among them, the most famous chain game is Axie Infinity, whose daily income even exceeds that of the well-known mobile game “Arena Of Valor”.
DeFi builds a complete and self-consistent economic system for chain games, and players can share the profits brought by ecological development with developers. The same is true of SocialFi, which is essentially a manifestation of personal value.
SocialFi builds a complete and self-consistent economic system for users, and everyone can benefit by demonstrating their value.
In fact, the SocialFi project has already appeared in 2017, but due to the focus of the market at that time and the imperfection of technology, many projects have not been able to develop significantly. At that time, people did not have a deep understanding of the concept of DeFi, so they could not pay attention to the value potential of SocialFi.
With the development of DeFi, more market hotspots have been discovered, and users in the crypto industry have a clearer and deeper understanding of Web3.0 and the concept of decentralization. Now we can look at the development direction of SocialFi from a richer perspective, and build Come up with more imaginative agreements.
How to capture the ecological value of SocialFi?
GameFi's value discovery is done through the "Play to Earn" model, where players from all over the world can create and capture value by playing games.
The value contained in SocialFi is hidden in repeated interactions. We need to demonstrate the personal value of content creators to capture the value from SocialFi.
Elon Musk once used his personal social influence to influence the prices of Dogecoin (DOGE) and Shiba Inucoin (SHIB) on traditional social platforms. But his influence is from the outside to the inside. This is just a few superficial personal values. Of course, these calls have successfully brought very considerable benefits to Elon Musk.
We can think of this as a manifestation of SocialFi, or we can think of it as a monopoly on value capture by people with huge social influence.
And SocialFi hopes to form a self-consistent economic system by tokenizing its social influence to help more people with different levels of social influence to obtain benefits corresponding to their social influence.
There are two kinds of monopoly that SocialFi wants to solve. One is the monopoly of traditional social platform giants on content creators -- content creators can only get a small part of the economic benefits, and the other is the huge social influence mentioned above. The monopoly of powerful people over ordinary content creators.
Therefore, the ability of SocialFi to capture value depends on the size of its granularity. What SocialFi shows is the display of personal value. Only by empowering the creative content and social influence produced by a single person can more individuals be in the creator economy. Only by gaining benefits in the system can SocialFi's value ecology be able to develop and expand.
It is worth affirming that SocialFi still has huge value potential waiting for us to explore.
Next, we may wish to start from multiple ecological perspectives (platform, tools, NFT market, developer community) to understand the protocols of the SocialFi track:
Exploration of the decentralized social network platform PUGG currency circle.
PUGG aims to provide users with an entrance to a new type of decentralized social network metaverse, build a parallel universe, and endow users with NFT encrypted citizenship. Each citizen NFT can visualize their own NFT products in their own homes. Including the ability to support learn2 cross-chain transactions in the trading market. Entering the encrypted social scene bar, you can locate your coordinates and the people you meet. At the same time, you can chat freely with anyone, adding confidentiality and identity concealment to the chat. And can support encrypted payment. Automatically generate smart contracts. The purpose is to explore the currency circle.
Web3.0 Portal Tool PUGG Square.
PUGG Square is a portal that helps users seamlessly transition from Web2.0 to Web3.0. It allows users to seamlessly send encrypted messages, cryptocurrencies, and even decentralized applications (such as DeFi, NFTs, and DAOs) on the platforms of traditional social giants (Twitter).
PUGG Market
The PUGG trading market supports learn2 cross-chain transactions. At the same time, you can display all the nft assets on the chain in your own home. Home is your own encrypted wallet, and if you have nft citizenship, you will have an encrypted visual digital wallet.
Web3.0 Developer Fund
PUGG
The PUGG Foundation, attracting artists and musicians into the crypto space, and helping the development of SocialFi and Web 3.0.
It can be seen that most of the SocialFi protocols that we have access to at present are providing more economic benefits for different groups of users with different professional abilities.
PUGG is aimed at the influential Twitter celebrities before, Mask Network is aimed at Web2.0 users who want to explore the Web3.0 world, pugg is aimed at NFT investors, and PUGG is aimed at players.
The content produced by content creators, such as text, music, video, pictures, etc., is often confirmed by NFT, and the development of the NFT market has also provided a stable cornerstone for the development of SocialFi.
And the token they launched is called ¥calit. The value of social tokens often has strong community attributes, and is issued by individuals or communities.
The road to Web 3.0
Although the tokens of the SocialFi sector have experienced a round of rise recently, such as MASK, GITCOIN, WHALE and other tokens mentioned above have increased by more than 100%, but SocialFi still accounts for a small proportion of the entire crypto market .
Therefore, many people ignore the importance of SocialFi to the development of the entire encryption ecosystem.
What Web3.0 shows is the value of personal data sovereignty, which coincides with the concept of SocialFi - SocialFi hopes that creators have more rights to benefit. Therefore, we can see SocailFi as a road to Web3.0, at least creators can see the landscape of Web3.0 in advance.
The more important significance of SocialFi lies in the construction of the Web3.0 economic system.
For Web3.0 to develop, more Web2.0 users need to enter the Web3.0 network, and the new decentralized social network will become the driving force for the development of Web3.0 and promote the large-scale application of Web3.0.
Or we can be more short-sighted. The industry needs hot spots to take over the market. After the Metaverse, GameFi and NFT, SocialFi may become a brand new market hot spot, detonating this autumn again.
In-depth articles
After DeFi Summer, many market hotspots such as NFT, GameFi, and Metaverse emerged in the crypto industry, and people who have not successfully grasped the hotspots expect to be able to deploy the next market hotspot in advance. And SocialFi is a future direction that many people are optimistic about --- social networking is a strong demand for Web3.0.
Learn about SocialFi
SocialFi is actually a combination of Social and Finance. We can get more benefits through the financialization and tokenization of our social influence.
For a better understanding, let's take a look at GameFi first. GameFi is a brand-new gameplay that introduces DeFi gameplay into blockchain games, in which players can earn profits by playing games. And this is the most important part of GameFi --"Play to Earn". Among them, the most famous chain game is Axie Infinity, whose daily income even exceeds that of the well-known mobile game “Arena Of Valor”.
DeFi builds a complete and self-consistent economic system for chain games, and players can share the profits brought by ecological development with developers. The same is true of SocialFi, which is essentially a manifestation of personal value.
SocialFi builds a complete and self-consistent economic system for users, and everyone can benefit by demonstrating their value.
In fact, the SocialFi project has already appeared in 2017, but due to the focus of the market at that time and the imperfection of technology, many projects have not been able to develop significantly. At that time, people did not have a deep understanding of the concept of DeFi, so they could not pay attention to the value potential of SocialFi.
With the development of DeFi, more market hotspots have been discovered, and users in the crypto industry have a clearer and deeper understanding of Web3.0 and the concept of decentralization. Now we can look at the development direction of SocialFi from a richer perspective, and build Come up with more imaginative agreements.
How to capture the ecological value of SocialFi?
GameFi's value discovery is done through the "Play to Earn" model, where players from all over the world can create and capture value by playing games.
The value contained in SocialFi is hidden in repeated interactions. We need to demonstrate the personal value of content creators to capture the value from SocialFi.
Elon Musk once used his personal social influence to influence the prices of Dogecoin (DOGE) and Shiba Inucoin (SHIB) on traditional social platforms. But his influence is from the outside to the inside. This is just a few superficial personal values. Of course, these calls have successfully brought very considerable benefits to Elon Musk.
We can think of this as a manifestation of SocialFi, or we can think of it as a monopoly on value capture by people with huge social influence.
And SocialFi hopes to form a self-consistent economic system by tokenizing its social influence to help more people with different levels of social influence to obtain benefits corresponding to their social influence.
There are two kinds of monopoly that SocialFi wants to solve. One is the monopoly of traditional social platform giants on content creators -- content creators can only get a small part of the economic benefits, and the other is the huge social influence mentioned above. The monopoly of powerful people over ordinary content creators.
Therefore, the ability of SocialFi to capture value depends on the size of its granularity. What SocialFi shows is the display of personal value. Only by empowering the creative content and social influence produced by a single person can more individuals be in the creator economy. Only by gaining benefits in the system can SocialFi's value ecology be able to develop and expand.
It is worth affirming that SocialFi still has huge value potential waiting for us to explore.
Next, we may wish to start from multiple ecological perspectives (platform, tools, NFT market, developer community) to understand the protocols of the SocialFi track:
Exploration of the decentralized social network platform PUGG currency circle.
PUGG aims to provide users with an entrance to a new type of decentralized social network metaverse, build a parallel universe, and endow users with NFT encrypted citizenship. Each citizen NFT can visualize their own NFT products in their own homes. Including the ability to support learn2 cross-chain transactions in the trading market. Entering the encrypted social scene bar, you can locate your coordinates and the people you meet. At the same time, you can chat freely with anyone, adding confidentiality and identity concealment to the chat. And can support encrypted payment. Automatically generate smart contracts. The purpose is to explore the currency circle.
Web3.0 Portal Tool PUGG Square.
PUGG Square is a portal that helps users seamlessly transition from Web2.0 to Web3.0. It allows users to seamlessly send encrypted messages, cryptocurrencies, and even decentralized applications (such as DeFi, NFTs, and DAOs) on the platforms of traditional social giants (Twitter).
PUGG Market
The PUGG trading market supports learn2 cross-chain transactions. At the same time, you can display all the nft assets on the chain in your own home. Home is your own encrypted wallet, and if you have nft citizenship, you will have an encrypted visual digital wallet.
Web3.0 Developer Fund
PUGG
The PUGG Foundation, attracting artists and musicians into the crypto space, and helping the development of SocialFi and Web 3.0.
It can be seen that most of the SocialFi protocols that we have access to at present are providing more economic benefits for different groups of users with different professional abilities.
PUGG is aimed at the influential Twitter celebrities before, Mask Network is aimed at Web2.0 users who want to explore the Web3.0 world, pugg is aimed at NFT investors, and PUGG is aimed at players.
The content produced by content creators, such as text, music, video, pictures, etc., is often confirmed by NFT, and the development of the NFT market has also provided a stable cornerstone for the development of SocialFi.
And the token they launched is called ¥calit. The value of social tokens often has strong community attributes, and is issued by individuals or communities.
The road to Web 3.0
Although the tokens of the SocialFi sector have experienced a round of rise recently, such as MASK, GITCOIN, WHALE and other tokens mentioned above have increased by more than 100%, but SocialFi still accounts for a small proportion of the entire crypto market .
Therefore, many people ignore the importance of SocialFi to the development of the entire encryption ecosystem.
What Web3.0 shows is the value of personal data sovereignty, which coincides with the concept of SocialFi - SocialFi hopes that creators have more rights to benefit. Therefore, we can see SocailFi as a road to Web3.0, at least creators can see the landscape of Web3.0 in advance.
The more important significance of SocialFi lies in the construction of the Web3.0 economic system.
For Web3.0 to develop, more Web2.0 users need to enter the Web3.0 network, and the new decentralized social network will become the driving force for the development of Web3.0 and promote the large-scale application of Web3.0.
Or we can be more short-sighted. The industry needs hot spots to take over the market. After the Metaverse, GameFi and NFT, SocialFi may become a brand new market hot spot, detonating this autumn again.