Blockchain technology has brought about a shift in user behavior, with users becoming more aware of their data rights and standing up against centralized social media platforms that hold all control over resources. However, instead of overthrowing the traditional social media platforms, introducing web3 to modify existing models presents a more practical solution. Oi! Network is a leading web3 platform in this space, empowering decentralization of brand communication and enabling transparent and fair communication.
Web3 Technology Modifying Traditional Social Media Platforms
Traditional social media platforms generate revenue through advertisements, with key opinion leaders (KOLs) and ordinary users as their target audience. However, in the pursuit of revenue, the interests of traditional social media platforms may clash with those of ordinary users. This situation can lead to privacy breaches, forced ad consumption, and neglect of user interests, creating a conflict of interest and fairness between traditional social media platforms, users, and brands. The rise of blockchain technology has enabled the development of decentralized social media platforms, offering users a fair share of the platform’s advertising revenue. In decentralized social media platforms, users take control of their assets and actively partake in the distribution of advertising revenue through tokens, smart contracts, and community governance. Decentralization offers a transparent and equitable advertising environment for brands, which enhances advertising effectiveness and maintains brand image.
Oi! Network Relying on Asset Valorization to Drive Change in Centralized Social Media
To achieve fair sharing of advertising revenue, social media platforms must undergo revolutionary transformations such as plug-in transformations and blockchain-based innovations. However, past solutions such as Mask Network and Steemit have had some limitations such as centralizing revenue distribution and unstable token reward value, leading to unstable revenue for users and poor user experience. Oi! Network’s asset valorization approach stands out as the answer to these limitations. The approach enables asset valorization by transforming users’ assets on traditional social media platforms into on-chain digital assets. Users can incorporate task and incentive layers that allow them to monetize their influence on web3 and partake in revenue sharing. Oi! Network’s model fosters a more equitable platform and creates more revenue opportunities, incentivizing more users to engage in platform construction and operations.
Oi! Network’s Model: Engaging Users in Profit Sharing to Create More Revenue Opportunities
O! Network is a platform that allows users to value their assets by uploading them to web3 chain and tokenizing them. The platform adopts a point system and a tokenomic model, which enables users to earn XP points for completing tasks and then convert these points into $MOM. Unlike traditional token models, the Oi! Network model has more leeway in the token economics policy and requires less liquidity. The platform’s token incentive system uses a points + token approach, where users are first rewarded with XP points for completing tasks, and then convert the points into $MOM.
The token incentive system fosters a virtuous cycle within the ecosystem, enhancing user loyalty and engagement with the platform. Additionally, it enables advertisers to access higher quality traffic and achieve improved conversion results. This also helps drive Oi! Network’s long-term development and growth.
Oi! Network’s Value Capturing Mechanism
Oi! Network calculates each user’s Karma by considering factors such as the user’s Twitter followers, sign-up time, engagement pledge, task completion, NFT holdings, etc. The platform assigns rewards to users based on the Karma value. To increase Karma, users can stake their tokens, increase XP power, DC power, AC power, and NFT holding power. Oi! Network’s value capture mechanism is a fair and sustainable model that incentivizes user loyalty and engagement while providing advertisers with higher quality traffic and conversions.
Conclusion
Oi! Network is an innovative web3 platform that offers users fair rewards, increased revenue opportunities, and transparency in advertising. Its asset valorization approach serves as a blueprint for other social media platforms to undergo decentralization. Oi! Network remains committed to innovating and advancing decentralized social media while fostering a sustainable ecosystem and driving long-term growth.