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SocialFi
The SocialFi ave.change is
2.96%
SocialFi is actually a combination of Social and Finance. We can gain more benefits by financializing and toicing our Social influence. SocialFi has built a self-consistent economy for its users, where everyone can benefit by demonstrating their value. SocialFi projects have been around since 2017, but many failed to take off due to the market's focus and the lack of technology. At the time, the concept of DeFi was not well understood, so the value potential of SocialFi was not appreciated. As DeFi continues to grow, more market hotspots are being explored, and crypto users have a clearer and deeper understanding of Web3.0 and decentralization, we are now able to take a broader view of where SocialFi is going and build more imaginative protocols. The value in SocialFi is hidden in the interaction, and we need to capture the value from the content creators by demonstrating their personal value. SocialFi wants to toid its social influence into a self-consistent economy that helps more people with varying levels of social influence reap the benefits of their social influence. SocialFi aims to address two types of monopolies: one is the monopoly of traditional social platform giants over content creators, who only get a small percentage of the economic benefits, and the other is the monopoly of the aforementioned social influencers over ordinary content creators. Therefore, SocialFi's ability to capture value depends on its granularity. What SocialFi demonstrates is the value of the individual. Only by enabling the creative content and social influence produced by an individual can more individuals benefit from the creator economy and the value ecosystem of SocialFi can grow and expand. To be sure, SocialFi still has a lot of value to offer. Web3.0 highlights the value of personal data sovereignty, which is in line with SocialFi's desire for more ownership of creative individuals. SocailFi can therefore be seen as a path to Web3.0, or at least a preview of the Web3.0 landscape for creators. More importantly, SocialFi is building a Web3.0 economy. In order to develop Web3.0, more users of Web2.0 need to enter the Web3.0 network, and the new decentralized social network will become the driving force of the development of Web3.0 and promote the large-scale application of Web3.0. Social Tokens are defined as "Tokens supported by a person's reputation, brand, or community." Social Tokens are built on the premise that the value of a community will continue to grow. Among them, casting and distribution, content capitalization are more mainstream project ideas. Social projects manage the communities they create by issuing coins. They can divide the levels according to the activity and contribution of users in the community and enjoy tokenization rights to increase profits for creators, cultural producers and relevant participants. Many tools now support this. Most of the accounts are based on ERC-20, and mainly carry out technical extension and project innovation from four main directions of distribution mode, asset preservation, token model and community management. In terms of functions, it is mainly composed of individual tokens, community tokens and social platform tokens. In a more detailed classification, social platform tokens tend to emphasize the circulation of value generated within the platform, while social tokens emphasize the services and value provided by individuals. Dao organization, liquidity mining, and other approaches have also driven the development of community tokens, and many projects intersect with other concepts. Currently, the existing distribution of social tokens involves personal financing, private communities, fan economies, platform subscriptions, sports and entertainment, personal funds, community brands, and more.
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