By Kyle, Investment Manager@Bing Ventures
The social sphere of the metaverse is on the verge of exploding. Metacosmic social interaction based on blockchain is an important opportunity to re-liberate humanity and productivity. At the same time, the social infrastructure of the Web3.0 era is being perfected. Web3Graph, as a new Web3 event-driven open Graph infrastructure project, is empowering social with innovative modes such as DeFi, NFT and DAO.
The creator of the social graph
Web3Graph connects fragmented social values around user synergies. Web3Graph introduced the concept of an “Event Engine.” This means that when you start socialising, you can establish ownership of all activities in your network and then go on to extract a lot of social value.
There are even more expected benefits for users who want to make the social Graph the core of their social network. The social Graph can generate revenue for your business and unlock your user experience and give you ownership. By connecting fragmented content, the market basically discovers information prices and businesses. It can be said that the social graph has greatly liberated the social capital behind virtual networks.
Source: Web3Graph
The social graph not only grants the user digital status in the metaverse, but also directly controls the social rights of the entire metaverse. In a way, the Web3Graph social Graph reimagines a world of the past broken by the Internet, while taking a giant leap into the infinite future.
Users can build on Web3Graph to create more powerful systems and products, and develop new ways to create monetization systems. A steady adoption rate and dedicated teams and companies are expected to turn Web3Graph into a primitive society that is better able to communicate and interact with each other.
Immersive social layer experience
In the coming years, the social Graph will become more immersive and inclusive, supporting diverse communities and creators and replacing the current most popular social media platforms. Every product developed with a social component based on Web3Graph has basic asymmetric advantages over its non-social counterparts, better growth cycles, better engagement, better retention, and better defensiveness.
Source: Web3Graph
Web3Graph’s early priority was to provide a social graph protocol for Web3.0 applications that any Web3 application could integrate into without having to maintain its own database of social graphs. The real test is whether the social graph is unique and inseparable from the product. For a social product to explode, the social element has to be part of the game experience, and the fun single-player experience has to be integrated into the social element.
Web3Graph is an open graph-based protocol that provides standard, unified, simple, and efficient access for Web3.0 participants. Web3Graph returns data sovereignty to users and gives them the right to own, control, access, and monetise their data. Instead of representing, tagging, and indexing data using the usual social graph model, Web3Graph models relationships between entities and events in an “on-chain + off-chain” manner that allows easy tagging and indexing.
From Web2.0 to Web3.0 channels
The Web3Graph protocol enables participants to access and find data in a simple and easy way through the SDK, Open API, GraphQL, browser extensions, and direct access smart contracts. The Web3Graph ecosystem is user-centric and motivates all participants to achieve sustainable organic growth.
The protocol’s ecosystem participants include users, producers, curators and consumers. Users will benefit from enhanced personalisation of services and products built using the Web3Graph protocol. Most importantly, Web3Graph can be developed for users from DeFi, GameFi, SocialFi, or a variety of other domains, creating a meta-cosmic social development scenario with a high degree of freedom and immersion.
Source: Web3Graph
All users can fully satisfy their own personalised social expression desires and needs in this protocol, while being completely free to find and interact with other users. Web3Graph is an innovative project with a real-world application scenario. When users have their own data, developers can also put applications together more smoothly. This allows for great collaboration between all developers and a global data network loop between all users and developers.
Conclusion
If you think social media platforms are the defining factor for web2, then this is a huge paradigm shift. First, most individuals are increasingly lonely and in desperate need of virtual social interaction. Second, the cost of social networking on the Internet is very high and the satisfaction of users is very low. Third, data privacy is held hostage in centralized companies, and users are often wary of social interaction online. Traditional social projects are eroding user interest. It’s satisfying the user’s desires, not creating revenue and value for them.
At its core, the Social Graph protocol is a social matching game based on a network of relationships, but users can choose not to match and only produce social content. This open social matching mechanism is not entirely algorithm-based, but is also based on gamification of mission mechanics and the user’s unique meta-cosmic planet portraits.
Unlike Web2, users can benefit by simply using this protocol. Ultimately, Web3Graph will create an interesting universe where people are free to develop productivity, mate and evolve socially to meet the social needs of different individuals.