The Social Media Age Rife With Speculation

Year 2023, “Web3” is still seen as a highly speculative and unsustainable industry by many. It is quite apparent that we are also in an age where social media is a huge part of our daily lives, and the content we see online heavily influences the way we think, the way we act etc, whether we notice it or not.

Web3 Social, a concept thought impossible to do, is something still foreign to many. With users’ social graphs largely dominated by and stuck on centralized platforms, with these platforms having control over the masses throughout many years, it does not seem that many would bother even trying these decentralized social applications, let alone stay and use it. Rebuilding your social graph from scratch is not so attractive after all.

In addition, discovering good content is harder, with the emergence of AI allowing rapid generation of content, which results in “lower” quality content overwhelming “higher” quality content.

Redefining Web3 Social

Therefore, let’s take some time to think, what could lead to mass adoption of Web3 Social? Nobody can say for sure, but what we know is that trying to replicate Twitter/”X”/Facebook etc is insufficient, and we have to bring a different experience to Web3 Social Users. Since we have identified that the usual reasons given such as “Owning Your Social Graph/Data” etc that a typical user usually hears as a reason to use Web3 Social over Web2, are not strong enough to increase the adoption and retention rate of users. Therefore, Web3 Social should be more than just replicating Web2 Social.

Jam & Building The Creator Economy

Hence, we introduce Jam as a portal in which we experiment with different types of monetization models in Web3 Social, with the core focus being on the Creator Economy. Incentivizing better creators and better content to be on Decentralized Social Networks plays a significant part in the retention rate. Jam’s focus would be on Gamification and Value Discovery in content, making it fun yet sustainable for users.

All eras involve some degree of speculation, where its effect on content quality and quality of monetization for creators slowly decreases as we reach the New Era of Jam's ideal Creator Economy. No longer are creators forced to create “popular” content in order to align with the masses. They are free to express their thoughts and generate better content in that process. With fair value discovery models, we are able to find a balance in which they can each find their own niche audience and keep making content because of sufficient monetization to sustain themselves.

Therefore, with sufficient incentives and monetization features, there are also clear enough reasons to build your audience/influence from scratch on Decentralized Social Networks. Even though it is harder to convince influencers/high profiled content creators etc. to onboard Web3 Social, looking at the perspective for a content creator with no influence, no community, no audience, Web3 Social gives you a chance and opportunity in being a pioneer. Thus, we will eventually find a totally new type of audience by being early. These audiences typically are those who are focused on Web3 Content Creators.

Build your social capital based on merit, through the quality of your content, and monetize the efforts you put in it through Jam.