Wednesday, Feb 1, 2023
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Top 5 Crypto social media platforms in 2022

IFM_Crypto social media-image
Revenue worth trillions of dollars is generated by social media giants like Facebook, Twitter, and Google.

Social Media has become an important part of everyone’s life as it helped people to connect with each other and at the same time offered unique ways to share information in a quick and structured way.

Most individuals end up spending significant time on social media which has now become one of the top economy spinners as well. Revenue worth trillions of dollars is generated by social media giants like Facebook, Twitter, and Google. But at the same time, they also end up controlling and censoring what one can see on their platform.

While Google forces people to opt for YouTube’s paid ‘premium’ service to avoid ads on its platform, Facebook uses the “protecting their community” card to censor users. And a locked-down verified accounts system is used by Twitter.

With many growing tired of having to go through all this, now social media users have found an easy way out. No privacy concerns, no moderation practices, and no more silencing people for their opposite views.

The world of crypto social media platforms is here.

Blockchain
In today’s world, one of the most popular and ground-breaking technologies is blockchain. It seems like we are finding new applications for blockchain technology every year. Blockchain technology has applications in a variety of industries, including finance, music, media, and food. And now, we’ll go deeper into how blockchain has transformed social media and take you through the top nine crypto social media platforms.

Torum
Torum is a revolutionary SocialFi (Social + DeFi + NFT) Metaverse ecosystem designed to connect worldwide cryptocurrency users. One might find it as a mix of both Facebook and Twitter. It rewards frequent users with a unique token. In exchange for high-quality content, users can also gift coins to each other. This network provides company sites and clans, more intimate forums that are goal-oriented.

LinkedIn-like capabilities are also available on Torum, allowing you to communicate with other individuals and businesses while also adding team members and posting to the page. It is also easy to use.

You may use the search feature to find users, new acquaintances, clans, and businesses. Torum does not yet have a mobile application, however, its browser version is quite mobile-friendly.

Twenty prominent investors have backed Torum, including Huobi Ventures, U21, and Consensus Lab. It’s the first social network for cryptocurrency enthusiasts and an NFT+DeFi platform that expands more quickly than any other crypto network, with a monthly user growth rate of more than 20%.

Minds
Eron Wolf, the creator of Yahoo Games and WhatsApp seed investor, created the social media network Minds in 2015 to enable open communication and cryptocurrency income.

Minds is a cutting-edge social network that gives individuals prizes and new privacy controls while reclaiming informational power from businesses. This open-source network prioritises privacy and refrains from mining user data for advertising purposes.

Futo, a freedom-focused tech firm, gave Minds USD 10 million in June 2021. Many believe that Minds is a viable alternative to Twitter and other traditional social networks, with 15 million active users, instant chat capabilities, and income prospects. It is incredibly mobile-friendly and includes all the features that YouTube, Facebook, and Twitter have.

Everyone is allowed to express their views and opinions on the Minds without any restrictions or censorship. Depending on the activity you take, you can earn tokens when you upload anything or interact with other people’s content. For instance, you can gain a few points by checking your feed or liking someone else’s post. You will gain more, though, if you create a blog article or share an insightful link.

Tokens from Minds.com can be used to promote your work. A thousand impressions can be added to a post with one token. In addition, if your post receives more engagement and users find it fascinating, you can get your tokens back, recoup the cost of boosting it, and perhaps even make a profit. As of now, since the tokens are only available on the testnet, it is difficult to calculate their monetary value.

DTube
DTube is considered an alternative to YouTube and many feel that it’s even much better than the latter. Having many similarities with YouTube, experts feel that the users can adapt to DTube easily.

Unlike YouTube, which plays numerous ads, DTube doesn’t include any. As a result, users might feel that DTube is much better than its rival which has been there for around 17 years.

Furthermore, DTube’s search results are shown in accordance with their relevance to your query and are unaffected by any of the algorithms used by centralised search engines. It functions as a decentralised video search engine.

On DTube, everyone who is active on the site can receive rewards. For instance, as a content producer, you can get paid according to how many people like and comment on your videos. According to users, each comment is valued at about USD 0.05.

Some of the key features of DTube include:

A video once uploaded cannot be forcefully edited or removed
No advertisement nor premium subscription
No censorship
One can see who liked or disliked videos
Both content creators and content consumers earn money on DTube

Ignite
Ignite is a decentralised microblogging site that was built with the intention of creating a platform that is completely independent. The founders of this project constructed it on top of The Prometheus Framework, with speed, security, and decentralisation as their primary goals.

The significance of free speech, the struggle against censorship, and the defence of anonymity serve as the inspiration for Ignite. It enables everyone with access to the internet in the present age to exchange ideas and express their opinions without being concerned about being silenced or having their identity revealed.

Data about users can be sold in a number of ways thanks to the Prometeus network. For instance, you can buy or sell data in a decentralised and anonymous manner like documents, videos or photos.

Flote
Flote is a social network without any censorship and ambiguous community standards. People can freely express themselves on Flote, form communities, and make money online by creating useful content.

Users can livestream, publish audio, video, photos, and text in this community-driven project. Fans can sign up for a membership similar to Patreon through it. They can also receive unique content from creators in exchange for a monthly tip.

There are no platform fees on Flote. You may buy BTC using your debit or credit card thanks to the integrated Bitcoin wallet it contains.

The project’s founders have huge ambitions for the future, including the Flote market, a decentralised exchange, support for other cryptocurrencies, and much more.

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