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Assessing AI SocialFi and the Redefinition of Ownership

Last updated: | 4 min read
SocialFi

As one of the fundamentals behind the current stage of the internet (Web2), social media has facilitated global connectivity.

With the development of artificial intelligence (AI) and the transition from Web2 to Web3, the narrative of AI-infused social finance (SocialFi) is gaining traction.

In a space where likes, comments, shares, and content hold economic value through SocialFi, users can benefit from blockchain technology and a cryptocurrency economy.

Platform’s like Phaver are emerging as a gateway to We3 AI SocialFi — merging AI sophistication with social media to empower user control and ownership rights.

AI Prevalence in Social Media


AI has opened up a vast array of opportunities for users and platforms alike, fundamentally uprooting the standards of content curation and interaction.

From tailoring a user’s news feed based upon their behaviors to the automation of support services, we are only just scraping the surface of AI capabilities.

Use of AI technology in social media enables a depth of personalization and a more efficient means of driving engagement by optimizing datasets from the most granular level.

However, integration of AI into social media is not without its hurdles. The potential for AI-promoted misinformation, the creation of echo chambers, and privacy preservation concerns all enter the fray.

Despite the disadvantageous nature of such AI concerns in social media, some platforms are developing methods to combat the associated issues of AI algorithms.

Platforms like Phaver incorporate AI mechanisms that ensure transparency within SocialFi, aiming to ensure a balanced approach to privacy preservation and user control within a decentralized space.

Assessing SocialFi Fundamentals


SocialFi is manifested through the combination of social media mechanisms and the immutable multifunctional foundation of blockchain technology.

Opting for decentralization and incorporating financial incentives, SocialFi’s use of blockchain technology offers users an infrastructure that facilitates true content ownership.

As with ownership of any asset, SocialFi enables users to retain control of their data — unlike traditional social media platforms that can exploit personal data and user content for commercial gain.

Within a SocialFi ecosystem, the economic possibilities of a social network makes the sharing of information profitable and decentralized on a global scale.

This transition towards the Web3 fundamentals of decentralization aims to improve user accessibility and financial independence in a bid to challenge the modern mechanisms of social media.

When adding AI into this mix, the utility and potential that SocialFi can offer is amplified — limited only by the current deep machine learning dataset of modern AI.

Phaver’s AI Innovation in SocialFi


A prime example of AI innovation in the SocialFi ecosystem can be observed in the aforementioned AI SocialFi platform, Phaver.

Through AI integration, users can go beyond just analytical optimization.

By leveraging AI capabilities, Phaver users can align and predict content creation to individual preferences — without sacrificing data usage transparency.Phaver integrates the Lens Protocol — a decentralized social graph Web3 platform — to enable the creation of NFT-based profiles.

This utilizes the core principle of NFTs to provide users with complete control, ownership, and interoperability of their online social interactions.

Furthermore, as one of the first mobile applications to launch on Lens, Phaver has grown organically to offer its decentralized AI SocialFi platform to over 100,000 weekly active users across Lens, CyberConnect, and its own off-chain social graph.

Innovation through AI is also demonstrated through Phaver’s in-app monetization mechanisms, where users are incentivized to engage, create content, and carry out community-building activities to earn tokens.

The earned tokens represent real-world financial value and can be utilized both on the platform and externally on crypto markets.

It is through this SocialFi innovation that the merger of NFT ownership and a tokenized economy pushes the boundaries of future decentralized SocialFi economical models.

Monetization Avenues for SocialFi Users


User monetization of content through platforms like Phaver is rooted in the control of personal data — an aspect still usurped by traditional social media profiteering mechanisms.

By confining the rights and ownership of personal data into an NFT-based profile, users can monetize their online social activities.

Through the creation of posts, videos, memes, and general interaction with the SocialFi community, tokens earned by users encourage further wholesome engagement.

In a space where quality reigns over quantity, AI use helps ensure user content monetization is optimized by tailoring each individual’s social media experience.

With the use of blockchain technology and the transparency of the blockchain, fake profiles and fraudulent activities can be mitigated, while financial flows stay above board.

Rather than fall victim to potential shill and dump cycles — a method often employed by influencers that mislead their followers — this helps create a trustless system for all users.

Platforms like Phaver help establish the foundations of this SocialFi bedrock through airdrops like their upcoming ‘Phairdrop’.

The airdrop encourages this foundation by offering 3% of total tokens to the community that own a Lens profile, a Farcaster profile, and at least one Cred item on Phaver.

Spreading up to 100,000 $SOCIAL — the native token — per user begins the SocialFi monetization process.

The Road Ahead


Looking ahead to the future of social media and AI integration into SocialFi, platforms like Phaver are setting out to offer users greater control of their experience and financial opportunities.

Surpassing the technologies that underpin traditional social media giants, SocialFi positions itself in Web3 to compete with — and potentially replace — modern social media platforms.

Phaver’s innovation in the social media and AI space shifts the narrative towards user-centric SocialFi economical models and away from modern concerns surrounding privacy and data exploitation.

Through AI and SocialFi users can become their own stakeholders of their content and interactions online — redefining the implications of online social interactions on a global scale.

With this more rewarding and sustainable decentralized social media experience on the horizon, the only question remaining now is…will you be ready?

Disclaimer: The text above is an advertorial article that is not part of Cryptonews.com editorial content.