Social Capital Is REAL

There are many ways that creators can leverage their Social Capital to monetize their influence or content. With reference to what we are familiar with within the Crypto Space, these could come in various forms e.g. paid groups, referral links or even subscription based/gated articles/content and many more.

The Right Place at the Wrong Time

We have seen many products that tried to replicate these forms of Social Capital, with some even experimenting with the tokenization aspect but failed to sustain in the long run. A significant reason we think is because they were at the “right place at the wrong time”. Many users at that point, did not realize that their Social Profile had a value to it.

However, with Twitter (Now X) making various changes to their platform, several users felt the impact and negative aspects of centralization, and in turn also realized how much they actually used social media, and the huge part it played in their lives. This impact was greater by those who actually monetized their influence or content in some way, such as creators. It seems that after all, users needed to be “affected” by these changes before they cared or took notice. An example of a significant change that Twitter/X made which affected many users would be the rate limits.

JamFrens - The Right Place at the Right Time

Further down, we started to see the rise in attention paid to the innovations within the social space.

One of these was Friendtech. The popularity of Friendtech is undeniably a good way to show that the concept of Social Capital does work and people do believe in it. However, due to its reliance on a Centralized Social Graph, although quicker to gain traction, does not allow them to scale and innovate more utility for users. This leads us to think that it will be unsustainable in the long run. However, seeing is still believing, and this has led us to think that JamFrens is at the “right place at the right time”.

However, JamFrens is doing something different. We are BUIDLing in Web3 Social; Decentralized Social Networks. Besides the true ownership of your Social Capital, the fact that it's based on Decentralized Social Graphs, we can do more with our Social Capital.

We can bring in more than just investing in your favorite creators, or the “token/key gated” forms of communication with them. With JamFrens, these “investments” in the form of keys, could also be tokenized and utilized to do something MORE. Imagine a world where each person has their own TVL and you could use it to borrow as a form of collateral. Think about it more. You could also be owning someone’s key which you can use to do something more than just waiting for it to go “Up Only”! This means more sustainability in the long run due to more utility.

Let us have a quick visualization.

JamFrens - The Social Marketplace

JamFrens will have its whole ecosystem by itself. It will act as a marketplace where people can invest in content, invest in creators and we can do much more with these “investments”. A world in which your social profile has a value to it, with many more innovations that could be discovered, and built upon such as what we see in DeFi.

If you think that the next wave of innovation within Web3 would be within the Social Sector, where better than to be around the source such as Decentralized Social Networks?

JamFrens is here to lead you to the source.

Join us in BUIDLing Web3 Social today.