Social Platform
Last updated
Last updated
Core Value: Connection of social platforms
Web2-based social platform operators recognize the importance of evolving their platforms alongside their users. However, centralized methods pose challenges for collaborative platform development, hindered by technical limitations like server capacity and data security concerns, as well as structural barriers such as disparate database structures, complex decision-making processes, and insufficient participant incentives. Consequently, many platforms struggle with the transition to Web3.
Primarily, centralized structures may impede user interactions, making it challenging for users to voice their opinions or actively contribute to platform development. Moreover, platform operators may struggle to establish transparency and trust with their user base.
Furthermore, conventional business models face obstacles in adapting to changes such as token management and liquidity issues. Transforming existing business models or establishing new token-based ventures can be costly, time-consuming, and introduce uncertainty into platform operations.
As a solution to these challenges, fanC is proposed. fanC alleviates concerns about token management and liquidity for platform operators while enhancing the user experience. This enables platform operators to leverage the benefits of Web3 while retaining their existing business models. Users gain increased transparency and participation opportunities, while platform operators can develop more robust business models.
fanC Governance and Voting Process
Platform Proposal: Platforms interested in integrating fanC submit their proposals to fanC's Governance. These proposals outline the intended use of fanC, including plans and objectives. They also describe how advertising NFTs will be utilized by connecting the platform's advertising space with the fanC ecosystem. The proposal provides detailed plans and specifics on how the platform will leverage fanC, highlighting the benefits and goals associated with this integration.
Voting and Selection Process: Participants in governance review and vote on the platform's proposal. This process is transparently recorded on the blockchain, allowing all users to take part. The platform chosen is determined by the outcome of the proposal vote.
Implementation: Platforms chosen by fanC governance will receive fanC rewards, which can be used to incentivize users or enhance various services. With fanC's advertising NFTs, you can leverage the advertising space on interconnected platforms. Essentially, advertisers can participate by linking their advertising space with the fanC ecosystem.
Within the fanC ecosystem, various social platforms catering to media, text, music, and photo content are interconnected. These connections facilitate 'connected advertising' as a requirement for using fanC rewards.
Joining these social unions offers several benefits. Firstly, users gain access to a wider range of content and services in one place. For instance, they can discover music on one platform and seamlessly share it using text or images on another. Moreover, linked advertisements enable advertisers to reach multiple platforms simultaneously, enhancing their reach to the target audience.
By becoming part of the Social Union, social platforms leverage network effects, leading to an expanded user base as interactions among users increase. Additionally, linked advertisements provide advertisers with increased exposure, allowing platform operators to boost revenue and offer users diverse content.
Overall, the Social Union fosters the growth and advancement of the fanC ecosystem while providing opportunities for various social platforms to progress collectively.
