Finally, SocialFi: the top three projects to consider
The rise in popularity of the SocialFi movement is gathering momentum, as social media becomes more fused into the blockchain. Many investors, including big-name social networking companies, are investing in new Social network projects.
Below are the reasons:
- The ascent of web 3.0 is the driver of the growth of SocialFi.
- SocialFi will resolve some of the major issues of conventional social media.
- Innovative projects in SocialFi are already hitting the market.
- One of the driving forces behind this is the rise of blockchain technology.
The first project that is a must-have in any SocialFi portfolio is Synereo. It’s the undisputed leader in the space, with a team of experienced developers and a well-funded war chest.
The project’s vision is to decentralize the social web, which would eventually lead to users owning and controlling their data.
While there aren’t many well-known social media blockchain projects right now, we are able to unearth a few. Here they are:
Ultra (UOS)
The UOS project (Ultra (UOS) is a social blockchain concept that aims to restructure how media is shared across several platforms.
The platform wants to provide users with a one-stop-shop for uploading video games, music, and other forms of entertainment in a re-distributed form.
It is a social media blockchain platform that is seeking to disrupt the industry by giving users control of their data. The project is still in development, but it has much potential.
Data Source: Tradingview
The software is exceptionally new, having only been introduced this year. There’s a good chance that it will increase more in the coming days because of its market capitalization of about $340 million.
Steemit (STEEM)
The Steemit (STEEM) platform isn’t a brand-new social venture, but it’s still fascinating. The project has had its fair share of difficulties, including a recent hack, but they are now looking toward the future.
The team has been very active in the community and is now planning to introduce a new token called STEEM.
This project has a lot of potential because it’s one of the first social media platforms blockchain technology-based. It allows users to get paid for their content, which is a great way to monetize your activity.
Users may build decentralized blogs and other social media platforms with Steemit, which is the largest blockchain-supported blogging platform. You also get a simple method to monetize your work. Currently, STEEM has a market capitalization of $122 million.
If you want to invest, check out the STEEM buyer’s guide.
MediaChain
MediaChain is an upcoming decentralized project, that aims to build a content distribution and consumption platform. That will connect creators from across the globe.
It also wants to make it easier for consumers to profit from their data without the hassles of third parties.
The project is still in the development phase, but it has a lot of potential. The team is also planning to launch an ICO soon.
There you are, the top three projects to consider if you are thinking of entering the SocialFi space. Of course, it is advisable to do more research before deciding on any of them.
Still, we want to know what you think about the SocialFi project.
