Risk Warning: Beware of illegal fundraising in the name of 'virtual currency' and 'blockchain'. — Five departments including the Banking and Insurance Regulatory Commission
Information
Discover
Search
Login
简中
繁中
English
日本語
한국어
ภาษาไทย
Tiếng Việt
BTC
ETH
HTX
SOL
BNB
View Market
How can Web3 fix the current social media system?
区块链骑士
特邀专栏作者
2022-06-16 12:27
This article is about 1631 words, reading the full article takes about 3 minutes
The involvement of Web3 has changed the rules of the current social media game and provided more opportunities for participants.

Needless to say, given a set of incentives, most people will behave in a fairly rational way. The point is to know what motivates a person and which changes drive action in a predictable way.

But often, the public's choice will produce unexpected results.

As an example, to test the effectiveness of fines parents for picking up their children for being late. Daycare fines parents $3 for being late, and lateness is growing.

Are the parents crazy? Not really. In fact, before fines, the price of being late is the social contract that parents feel guilty about being late.

Yet after the guilt was replaced by $3, the parents stopped feeling guilty about being late and paid an acceptable fine

Parents acted rationally, but the results were the opposite of what was expected.

In the world of social media, creators and viewers can seem crazy, but as a growing body of research shows, the “like and share” system can be addictive.

Research from Yale University shows that sensational content produced by creators, and the backlash that accompanies toxic comments, provide participants with monetary or emotional rewards.

Governments are also beginning to pay attention to the impact of this business model on society to prevent these unintended consequences.

secondary title

Why does social media cause some social conflicts?

From the research, it is clear that social media is responsible for many of the contradictions in our modern world.

But for creators, the trouble stems from the almighty algorithm and how to get rewarded. The odds of achieving professional success on social media are slim to none.

Yet many creators still spend 80-100 hours per week creating, producing and curating content for general audiences.

If it all comes from passion, no problem. But if creators can't make ends meet, then sponsorships and ad revenue are needed to provide real benefits.

And the most direct way to create a large audience is to create spectacle.Either be the best at what you do or channel your emotions

The best creators are good at guiding likes (and dislikes), shares, and comments.

secondary title

How do we fix the system?

As much as we would love to unplug the concept of social media, the truth is that social media also makes the world a better place.

We are more connected to those we love, and grassroots movements are possible around the world and credited with bringing down corrupt governments.

Billions of people create, share and appreciate art.

Even if we disagree with them, ordinary people are given the platform to reach a global audience if what they have to say resonates

The key to resolving the social tensions caused by social media lies in improving the reward structure.

first level title

Replace "society" with "value"

secondary title

in-app economy

Because Web 3 is powered by blockchain technology, it means the platform can create tokens.

Creators can earn from high-quality comments/engagement, regular users can use tokens to directly interact with their favorite creators

secondary title

Directly involved

The in-app economy allows creators to focus on creating. Instead of managing ten different platforms, they can spend their time managing one platform with their fans and spend the rest of their time producing content and engaging with their community.

Imagine the boost to creativity if 80% of a creator's time wasn't spent switching platforms and maintaining their community engagement?

In addition, Web 3 brings numerous opportunities for users to directly engage withsecondary title

long tail effect

Creators of all levels can earn income from their work. It’s no longer just the top 1-5% of creators who get most of the platform’s revenue.

Creators can choose how to interact with fans, fans can choose to interact with creators, both parties can get rewards, there is no need for any algorithms and imposed advertisements, and there is no need to encourage harmful behavior.

looking to the future

looking to the future

Solutions to social problems brought about by social media are already known, and Web3 solutions are being promoted.

The original text comes from zycrypto, compiled and organized by Blockchain Knight, the English copyright belongs to the original author, please contact the editor for Chinese reprint.

The original text comes from zycrypto, compiled and organized by Blockchain Knight, the English copyright belongs to the original author, please contact the editor for Chinese reprint.

Web3.0
Welcome to Join Odaily Official Community