In the probable case that the title is not making much sense, this text will be about the current web3 social platforms ambitions.
From a user perspective, the question that always comes to mind first in the initial phase of using the product is: why should I use this product?
Many self-labeled web3 social platforms come with countless promises, like a different ownership model, new royalties concept, more privacy, and probably, most important, data portability.
Now the reality is that most promises will remain just that promises...
First, most, if not all, of the promises will be in direct conflict with any concrete way of monetizing the product.
And that is why often will be common to find a lot of tracking efforts, centralization, and user lock-in.
You will probably hear: in this space, everything is in its early stages, and indeed there is some merit to this point, but let us not kid ourselves until there is a huge success; the reality is that we are pretty much in an absolute tsunami of failed web3 social platforms.
Countless dead domains and projects are resting now in the web3 social projects grave. Now you may wonder why this string of failed platforms seems to be a never-ending string; the answer lies in the fact that web3 platforms have a lot of challenges to overcome.
Let’s look at some of the core key issues:
1 - Decentralization / higher costs
2 - Echochamber / not enough diversity
3 - Misaligned incentives
4 - Interoperability issues
5 - Market whims
6 - Scalability issues
7 - Artificial scarcity
8 - Comodifing everything
9 - Irecuperable failures
10 - Hype, Hype, Hype, borderline scam
Read the full version on Mirror: https://mirror.xyz/andrei0x309.eth/sH7vMxL_PhZ5yArraq7ZqiW2bZbsmL-WxLDhwoQWqIg
