What is Web3 social media?

Unlike Web2 social media, where a single company manages the platform, Web3 social media is community-driven. The platforms store data on blockchains and use token rewards to secure it. Independent servers ensure decentralization instead of centralized databases.

What makes Web3 social networks decentralized?

Most importantly, blockchain technology makes Web3 social networks decentralized. They are run by numerous independent servers, removing control from any individual or organization. Additionally, crypto tokens play a significant role in maintaining the decentralized nature of socializing platforms.

Can you own a Web3 platform as a collective?

As well as owning your data in Web3, you can own the platform as a collective, using tokens that act like shares in a company. DAOs let you coordinate decentralized ownership of a platform and make decisions about its future.

What is a Web3 Dao?

Users with tokens vote on how resources get spent, and the code automatically performs the voting outcome. However, people define many Web3 communities as DAOs. These communities all have different levels of decentralization and automation by code. Currently, we are exploring what DAOs are and how they might evolve in the future.