The Future of Social Media is on the Blockchain
I’ve seen the future of social media and it’s open source and distributed. If you’re the product, shouldn’t you get paid?
I’ve written about Steemit previously, but there are allot of interesting developments in the modern social media and blockchain space beyond Steem. There are a number of sites like SocialX that are in pre launch – all the way to the fully functioning Minds. There are a number of sites like OnG that are in-between…
Okay, OnG and sites of its ilk as just not ready for prime time. They may however give us a glimpse of the future of social media.
Old (Social) Media
The most coveted demographic ( generally accepted to be in the 18-34 year age group ) is abandoning Facebook in droves. This millennial migration away from Twitter is even more drastic. Instagram and SnapChat are retaining their younger users more effectively.
Instagram fills a need and does so in a way that is sticky with millennials. Instagram is owned however by the evil empire and it is a limited platform. It’s basically the modern (2010 anyway) version of Flickr. If Facebook does as some point get broken up, if a similar data breech or scandal happens or if the backlash from the mothership’s scandal spills over to Instagram, it could very well go the way of the many, many, other photo sharing sites.
Snap is only slightly newer and continues to outperform many industry analysts expectations. Snapchat has innovated in numerous ways (stories, time-sensitive posts, augmented reality, etc.) , but unless they can find some way to monetize the service effectively then they very well may suffer the same fate that Twitter is doomed to suffer… It takes money to keep the servers spinning. Twitter has had a remarkable run without turning a profit. Without something drastic happening I can not see it continuing.
Wasn’t this article called the FUTURE of Social Media
Or as an old friend would say “Why you bringing up old Sh*t?” In my defense I have not gone into my diatribe about how Usenet was the first digital social media network, slipped in that LinkedIn is older than Facebook, or delved into the untold history of MySpace… I think everyone can agree that Social Media came to age with Facebook. At one point or another all of us have been affected by the 600 Billion pound social media guerrilla. What is less apparent is that we are entering ( or have entered ) the post Facebook social media era.
Facebook today is old and busted. Data scandals, retaining users’ deleted videos, Russian fake news, creepy advertising practices, scanning images sent between users on Messenger, record profits generated from their users content. Whether Facebook is abandoned to a degree that profitability is effected, is broken up by the government, implodes in scandal; Facebook is yesterday. It’s effects on the social media landscape will be felt for years to come however.
Regardless of your feelings and opinions about Facebook they have set the bar very high technically. A truism in the industry is that users will not accept a digital experience that is less usable and enjoyable then what they are accustomed to. In this case that means your competing social media site needs to work seamlessly across platforms, be highly available, user friendly, and responsive.
It’s also true that while most new social media networks profess to be unique, they most often devolve into similar, familiar formats.
One way to differentiate your social media network is to approach the business end of things differently. I am sure that you have heard the phrase: “If it’s free, then you are the product being sold”. What if a social media site could figure out how to make a decent profit, keep the servers running, and remunerate users for creating quality content?