Are the Crypto Crashes Pushing for Decentralized Social Media Platforms?
I don't know if I am right or wrong but this thought has come into mind about the recent flow of the decentralized social media platforms which sort of look to have got some attention in the crypto community.
A recent blog shared on Coingecko showing these different decentralized social media platforms with a good number of visitors does show that decentralized media have been getting some attention lately.
Well, to my surprise, Steemit was at the second position and I already shared my thought on that in my post earlier.
Don't You Think Hive Needs Some Serious Attention?
But that's another topic, let's come back to the point.
These are the 15 most popular decentralized social media in 2023 with millions of visitors.
A token economy component that powers decentralized social network monetization includes cryptocurrency. It is often used to incentivize users and reward them with tokens for creating content.
This is something that might be pushing more people towards decentralized social media because the users don't have to invest money into crypto rather they can invest their time creating content on these social media platforms and earn crypto.
To me, this is a safer and risk-free way of earning crypto. Myself have been on Hive creating content and earning some Hive/HBD and other Hive Engine tokens which is kind of a cool thing to see. I don't need to invest money out of my pocket in other crypto projects that I see to be good in terms of profit. I can buy it with my Hive that is being earned here on Hive.blog.
But on the other hand, you might be aware of the recent collapses in the crypto industry with investors losing millions of money in their crypto investments.
So, being on a good decentralized social media platform creating content, and earning cryptos, isn't it a safe thing to do? I guess it is. And probably this is why I believe more people are turning to the decentralized social media platforms.
What are your thoughts?
These are just my thoughts. I don't know if it's correct or wrong.
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Yep.
There are a bundle of decentralized, crypto based social networks to choose from now.
And it'll grow.
In fact... some mainstream big guns may include crypto based earnings as well in the not so distant future.
We're gonna have to get our game on around here if we want Hive to Thrive. 👍🏻❤️
I reckon authenticity and the right focus will "win" this race.
People are beginning to wake up.
And I don't know much about financial stuff. I mean people want privacy, respect, transparency and authentic community. As well as financial incentive. The world has gone mad and people want to feel "safe", seen, connected and validated.
The platform that is able to offer this to its users may well be the one that attracts the same.
Our youth aren't as naive as we are. "Doing business".
They can see through bullshit in a heartbeat. They LIVE the internet. Us old folks are just figuring out how to use it still.
Edited to include I'm now as grumpy as I used to be when I used Fakebook because of politicking and greed. It's not your post. Another one. And it's stupid now. What a waste of such potential!
Yours came up just after I commented on the last one and I thought, "Hah! There you have it."
Now... I'm going to play Fortnite and have some fun!
Have a cool weekend 🌼
I think more people are interested in decentralized social media for the censorship-resistance. The ability to earn and monetize content is a bonus.