Image source: Internet

Author: Chen Zou

Image source: Internet

Author: Chen Zou

Odaily editor's note: One of the biggest hot spots today is the SocialFi project Monaco Planet released a message on the social platform: Please note that only English content is counted as content mining, and content quality is also a key aspect of content mining measurement. Spam and ads without any organic creation will not be counted towards content mining.

After the news was released, users in the Chinese community resisted, and some users found out that the APP interface reported an error using Chinese characters, and it was suspected that it was a Chinese team. The price of Monaco Planet's NFT secondary market has experienced a large drop. The current lowest price is 0.14ETH and continues to fall. The average selling price of the NFT yesterday was 0.45ETH.

In this article, let’s take a systematic look at what this project is and why it became popular:

The Web 3 era can change many things, but what will not change is the rigid needs of human beings. Since the Web 2 era, the social track has been such a rigid-needed track. There are Facebook, twitter, and INS overseas, and WeChat, QQ, WeChat Red Book etc. Social media has a natural track advantage in the Internet age-traffic, which is why any one of the above-mentioned projects is a proper "giant". It is precisely because of this that "latecomers" choose to use the sharp sword of "decentralization" and vow to re-segment the market cake.

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How to play Monaco Planet

Monaco Planet is one of these "latecomers". The decentralized social project wrote in its white paper, "The short-term goal of Monaco Planet is to use blockchain technology to solve users' social pain points and integrate a series of key The function of web 3.0 is put into practical application. The long-term goal is to become a new entrance for the high-frequency social activities of the cryptocurrency crowd, thus becoming the entrance of Metaverse.”NFTThe purpose is very clear, hoping to become a social oligarch in the encryption field, the Facebook of Web3, and the docking with Metaverse in the later stage.

Bitui previously reported that Three Arrows Capital, known for its sharp vision, participated in the seed round financing of the project. With its participation, the final

Social platform Monaco Planet has completed a $3 million seed round of financing. With the cash flow brought by this round of financing, the project started a full-fire operation model, news promotion, KOL marketing, and soon, the project community grew on a large scale."The project team's style of play is very clear. All the promotional work in the early stage was to pave the way for the NFT blind box sales on November 15th, and the final sales results lived up to expectations. All 10,000 Yacht NFT blind boxes were sold out within 20 minutes. At that time, the gas fee reached 1,400 US dollars, and caused serious congestion on the Ethereum network. The project destroyed up to 285 Ethereum in a short period of time, and once ranked first in the Ethereum destruction list, surpassing Uniswap and OpenSea."But the process from NFT blind box sales to Beta has not been smooth. According to Opensea data, on the 18th, the price of the NFT series dropped to a historical freezing point, and then remained stable at around 0.08 ETH for a period of time without improvement. Until the launch of the Beta version, the price began to rise, and through content mining (

From writing to earning

Just two hours ago, the project broke the news again. The legendary Chinese Dota player "Bacchus" Wu Sheng entered the platform. As an early Dota evangelist, Wu Sheng has a huge fan base. Bringing considerable traffic again. It can be seen from this action that the project is trying to seek cooperation with top KOLs from all walks of life to attract players of sufficient quantity and quality, and finally complete the construction of the basic ecology of the platform.

In terms of economic model, the project party promises that NFT holders will be the initial beneficiaries of content mining. You will enjoy airdrops, mining and other rights and interests. In the end, most of its ecological tokens will be shared with users in the form of "content mining". As an initial flow, there is nothing wrong with it, but considering that once users participate in the project purely for profit, excessive speculation may also cause the initial "cake" to be called the ultimate "poison", and the operation ability of the project party will eventually be affected. will determine the direction of the project.

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Landing application

As a project, Monaco Planet has been full of narrative aspects, "the brave who challenged the old overlord", "decentralization", "content mining", "NFT", "airdrop", it seems that every word is stirring the nerves of users , It can be seen that the domestic team is already familiar with social media play. But narratives are just narratives after all, and the most important thing is the application that lands in the hands of users.

In terms of user groups and content tonality, Monaco Planet has not yet given a clear direction.

At present, judging from the various communities related to Monaco, the main tone of public opinion is still around information such as NFT, airdrops, social mining, and invitation codes. If the development direction of the later stage of the project cannot focus on the content, it may face the dilemma of users "digging, selling and raising", and fall into an endless loop.

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SocialFI track

SocialFi or content mining is not a very new thing. In fact, many domestic projects have tried this track as early as 2017. At that time, it was generally called "token economy". In the end, the platform was flooded with spam and ended badly. Overseas is Steemit. Even though it has worked hard on the content, it still doesn’t matter in the end. It can be seen that the social fi track is not so simple. The difference between Monaco and it may be that it has added a batch of NFTs, but that's all.

Steemit proves that for things that cannot be measured, such as content sharing and creation, it is not good or even counterproductive to give too much incentive.

For example, in Zhihu, the earliest users of Zhihu were all out of love and spontaneously sharing knowledge sharing content. If at the very beginning, Zhihu gave a rule: if you click a like, the author can get xx money, then if you want to know it with your feet, we will definitely not see the later Zhihu full of "dry goods". This money will instantly destroy the atmosphere of knowledge sharing.

This is just like the problem Monaco is facing now. In order to accumulate enough "content", the "mutual aid groups" that can be seen everywhere are crazy about each other and praise each other. No one cares about what is on the platform, but what they can get from the platform. , and this situation is bit by bit backlashing the platform itself.

Of course this is all just conjecture.

History never repeats itself, it just cycles with similar results.

Overview of competing products

1.Torum

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2.SWAGG

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3.Chilliz

SWAGG is a diverse social networking site centered on the SWAGG community. The founder is more like doing a "social experiment". SWAGG has a variety of uses, and token holders can participate in the entire ecosystem built around SWAGG tokens. Including obtaining works of art in the SWAGG network, obtaining airdrop rewards before the public sale, providing funding for projects initiated by the community, sharing valuable content to obtain rewards, exchanging tokens for community creation, making suggestions and voting for the SWAGG community, etc. wait.

Chilliz is a typical social platform under the "fan economy", focusing on the sports industry. CHZ is the native token of Socios, a sports entertainment fan incentive platform based on blockchain technology. Socios is currently working with 48 clubs or partners including AC Milan, Manchester City, Arsenal, Barcelona, ​​Paris Saint-Germain and Juventus to issue fan tokens. Socios.com users can purchase club fan tokens by holding Chiliz. Holding fan tokens can have community voting rights, decision-making rights and other rights and interests.

4.Bluesky

In this community, fans with fan tokens can vote on matters such as the club's jersey colour, stadium music and logo, friendly matches, charity lineup, entrance song, etc., and the voting results are binding. Enhanced user community participation.

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In the ecosystem review report written by Graber for the Bluesky project in January this year, he conducts vertical and horizontal analysis from key topics such as identity, network, data, social, privacy, interoperability, scalability, application, governance, and business models.

5.Nafter

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This article is from Bitpush.News, reproduced with authorization.