When you see web3 been talked about everywhere, you know it’s gonna be the next hype.
Hello everyone, I'm the 0xzhishu, it's been a long time, I'll talk to you about Web3 again today. With the popularity of metaverse, gamefi, and nft, institutions and smart money who have already made money come to the bottom of the market to rebound, and the cost of hunger is coming to the next round of Web3.
What is Web3 recap? We will not repeat this, you can refer to the early articles of Zhishu
In conclusion, Decentralization and Permissionless will be the two most important keywords of Web3, which truly returns the Internet and economic benefits monopolized by web2 giants to users. The Internet of Web3 will also be the Internet of Blockchains.
Web3 started as a broad concept at the beginning, but with the development of time, the concept of web3 has gradually become clear, and the subdivision fields have gradually formed. Many believe that among all web3 concepts, the next hype will most likely be the Socialfi decentralized social media, the unique privacy data protection of blockchain, token economy, and content ownership protection will be a heavy blow to web2, socialfi has improved the efficiency of content creation, pay to subscribe, and advertising earning to a new dimension. In the decentralized network, users are the masters and thus earn the benefits they were originally squeezed by the platform in web2. Next, we will introduce some of the most potential socialfi projects.
RSS3
The prototype of RSS3 originated from the RSS (really simple syndication),its a simple information aggregation in the web1.0 period. thru RSS, advertisements and distracting information are filtered. The most common website email subscription can also be understood as a form of RSS. In the web 2.0 era, the Internet giants led by meta and google have almost formed a monopoly of traffic, and RSS has been marginalized because of its single-function and extreme impact on advertising revenue.
RSS3 is a blockchain-based RSS protocol. Any developer can build an independent web3 product based on the RSS3 SDK. The next chapter wen will introduce few typical projects build upon RSS3.
1.cheers (formerly pass3.me)
The domain name system RNS developed based on RSS3 (it is still in the testing stage, and the function has not been developed yet). Users need to burn a $PASS token to obtain a unique blockchain domain name, which can be used as an identity in cheers and can be quickly found as a username. In cheers, there are currently information viewing (users can view the web2 or web3 social media information of the following accounts), Collectibles (NFT viewing), Footprint ( on-chain activity records, such as acquiring POAP, minting NFT), and Donation and other functions
cheers.bio
2.RE:ID
The chrome plug-in developed based on RSS3 can map Twitter content to RSS and store it permanently. Even if Twitter goes down one day, you can still see the mapped content.
https://chrome.google.com/webstore/detail/re-id/hcioafpcjhamfeiegnnahpjnmnlilkil
RSS3 team and backers:
From the perspective of RSS3's investment lineup, it is quite mixed. Except for the luxurious lineup such as Coinbase ventures, most are quite unknown. RSS remains anonymous in terms of the team.
Tokenomic:
A total of 1 billion supply,Tokens will be released within 5 years.
Team: 15.4%
Advisor: 1%
Seed round + private placement: 4.6%+10%
Foundation: 5%
Community: 64%
Advantages of RSS3
Decentralization: Based on blockchain technology, any data on the chain is transparent and cannot be tampered with, data is permanently stored, and users fully enjoy content ownership.
Security: Free and open-source, anyone can view the source code to avoid evil.
Inclusive: RSS3 can accept any information from web2 and web3, and can transfer the data content of web2 to the chain for permanent storage. Any developer can build an independent web3 product based on the RSS3 SDK.
Potential pitfalls of RSS3
As the underlying protocol, RSS3 has no control over the quality of the content constructed by the upper layer.
RSS3 itself does not provide content and token empowerment. Development depends on ecology. There may be an ecological backlash similar to Cosmos, and its ecological product valuation exceeds the RSS3 itself.
The long-term user habits brought by Web2.0 are difficult to change. It is a huge change from platform information push (passive reception) to active information acquisition. Whether RSS, an ancient protocol, can usher in the second spring in web3 still needs to be Put a question mark.
Lens protocol
The underlying protocol of web3 social media based on polygon network created by the AAVE team, Lens protocol is more like a modular, combinable LEGO than a product that users can use directly, allowing users to add the functions they want to create a unique web3 social network.
The Major Module of Lens protocal includes
1. Publication
2.Comment
3.Mirror
4.Follow
5.Collect
Details to see at :
https://docs.lens.dev/docs/profile
Lens Protocol has the following features
Decentralization: All data of users are owned by users, and the platform is governed by user votes.
Composability: Lens protocol adopts a modular design, any application can be plugged in, and users can build social applications, analysis platforms, verification systems, DAO tools, etc. from it.
No license required: The code is completely open-source for community use.
Summary: Unlike other products that simply copy and paste web2 products to the blockchain, the unique composability of Lens protocol brings him huge imagination space and potential. From web2 to web3, it is not only a huge change in technology but also a system and a Mode innovation, perhaps lens protocol is the ideal look of web3.
Compared with web3 social media, Cyberconnect's mission is completely different. It aims to build a decentralized social graph protocol, realize the portability and scalability of Web3 social experience, and connect the various platforms of web2 and web3. ravines between. The social graph can be simply understood as the relationship network of individuals in the society, and CyberConnect is a collection of social relationships of a person in a platform, and users have autonomy.
Problems solved by Cyberconnect:
In the traditional Internet, the data between various platforms are controlled by the company, forming a data island. The social relationship and influence that A has on one platform cannot be brought to another platform. You must rebuild all social relationships on the new platform. At the same time, in social media-oriented by a single interest, it is difficult for users to find more origins of each other. For example: in GitHub, all users are programmers, they may not realize that each other is interested in a certain game or music, and thus do not establish more links.
The emergence of Cyberconnect perfectly solves this problem. By linking the identity information of different social platforms of web2 and web3 and forming a social graph, Cybercoconnect aggregates its social relations in different interest circles, different fields, and different platforms into one social network, and integrates the original parallel people connect. This also means that you don’t have to worry about the fans you have accumulated on a single platform, and the content and value you create will be lost due to the platform’s blocking. You can start anew and travel between platforms without any scruples. Cyberconnect puts data ownership back in the hands of users, enabling freedom for users and content creators who were otherwise reliant on the platform.
How to achieve?
Cyberconnect points to identities via Ethereum addresses. Users link web pages through Metamask, bind web2 social media such as Twitter, and display web3 applications such as opensea, rarible, and mirror at the same time, and users' NFT, POAP and other on-chain assets should also be displayed.
From the current point of view, the number of Cyberconnect users has reached 400,000, and the total number of clicks is as high as 21 million. However, users with rich pages, many followers, and high message interaction are all people who have accumulated a certain social network or reputation. For example, Vitalik Buterin, the founder of Ethereum, has a relatively large number of NFTs and tens of thousands of fans. However, the development of the project is still in the early stage. Currently, only two blockchains, Ethereum and Solana are supported. The functions are relatively simple. The only functions are to follow, to find someone through the wallet address, leave a message (not repayable), and send money.
Nonetheless, Cyberconnect's construction at the technical level is not directly oriented towards individual users. Its social graph module and recommendation indexer provide a common Data layer to insert meaningful and context-specific social features.
Secondly, it can be seen from the technical architecture that CyberConnect, as an underlying protocol, does not have many front-end applications. The specific applications of CyberConnect need to be presented through the cooperation of third-party Dapps, such as implementing “personalized recommendations” or “personalized recommendations” in other Dapps. "People who may know", otherwise it is difficult to fully play its role. Therefore, the team also needs strong BD resources and business development capabilities, but judging from the official cooperation announcement, this just reflects the strength of the team.
When it comes to Cyberconnect, we have to mention Project Galaxy. If CyberConnect aims to break the gap between web2 and web3 applications, then Project Galaxy is to break the barriers between web3 projects and users.
What problem did Project Galaxy solve?
Project Galaxy is the world's largest Web3 credential data network, a large-scale web3 marketing platform with NaaS (NFT-as-a-Service) NFT-as-a-Service, which aims to solve the marketing problems of various projects and help users participate in one-stop.
Before the emergence of Project Galaxy, users in the crypto were exhausted every day, looking for airdrop opportunities on different social media and platforms, and the marketing info of the projects was also submerged in a large amount of information. People urgently need a summary of information.
Project Galaxy, through a one-stop listing of all project party marketing activities, allows users to obtain NFT by completing tasks and gives Galaxy ID identity.
Functional Design of Project Galaxy
1. Explore
A one-stop collection of currently ongoing project marketing activities, convenient for projects and users, saving time and effort to achieve their respective needs.
2.Space
To display the activities of a single project, users can search for the current activities of their favorite public chains or projects.
3.Credentials
Project Galaxy's activities are divided into two types: threshold and no threshold. Credentials judges whether users are eligible to participate in specific activities through the user's on-chain and off-chain behavioral trajectories. For example the top 100 liquidity providers are eligible for special NFTs.
4.My NFTs
It is used to display the NFT obtained by users by completing tasks or participating in activities on the site
5.Galaxy ID
Retrieve user footprints through wallet addresses, and generate corresponding tags to enhance users' sense of achievement.
In addition, Project Galaxy provides event templates for project parties, including uploading NFT, reward distribution time and rules, etc., which can save time and effort for publicity activities.
Tokenomic
The total amount of $GAL is 200 million, of which the pre-sale accounts for 5%, or 10 million. The other proportions are shown in figure below. Overall, the proportion of pre-sale is not large, but about 15% will be unlocked if all TGEs are counted.
Team and backers
Project Galaxy has a very strong VC lineup, attracting top VCs like Binance Lab, coinbase and multicoin.
The team is transparent, the two core founders are both from UC Berkeley
Summary: Project Galaxy has chosen a unique track to capture the dividends of the current blockchain project blowout. As of January this year, the project has collected more than 500 credential sets covering 3 million users, and more than 120 communities have used the credential sets for more than 500 marketing campaigns. Both in terms of the project itself and investment lineup, it was very successful.
After explaining all the above items, it comes to the link that everyone cares about the most, which one? For investment analysis, we can start from the following aspects.
1.Token model, room for growth:
Among the above 4 projects, only RSS3 (circulation) and Project Galaxy have announced the token model. In contrast, $GAL has better application scenarios and consumption.
2.Team and management background:
From the perspective of team and management background, Project Galaxy and Lens Protocol are the most dominant, and RSS3 is slightly inferior (the team is not transparent).
3.Innovation level, practicality:
Except for Project Galaxy, the above projects are still in the early stage of development, and the information we can obtain is limited, but in terms of certainty, we believe that Project Galaxy is the winner.
4.Competition:
At present, due to the need for strong technical strength, there is not too much competition for socialfi underlying protocol, and the development cycle of high-tech products is correspondingly longer. From this point of view, although Project Galaxy has the first-mover advantage, they might have more competitors in the future. And at the same time, some on-chain marketing activities may have a better user experience in Metaverse.
Rank: Project galaxy>Lens Protocol>cyber connect>RSS3
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