By Nermeen Nabil 
Web3 Social platforms. It’s a great idea for many reasons. But for some reason, no one has cracked the code on it yet. Not friend.tech. Not Farcaster. No one……so far. We think one reason is that the experience is too different, too technical, and not smooth enough to onboard new users.
Today, we have found a decentralized social platform that addresses this issue and has the easiest onboarding we’ve seen from a Web3 social app. Who am I talking about? Let’s meet Republik.
Why We Need Decentralized Social
Many people out there, especially young people, are probably happy with the social media choices we have. There have never been more.
TikTok had 653 million users in 2019 before COVID, but hardly any were outside of Asia. Now, they have a global audience of over 2 billion people.
Instagram almost doubled its users, from 867 million in 2019 to 1.4 billion in 2024.
Source: Oberlo
So lots of people are using these apps and they are growing. Then what’s the big problem?
Problems with Social Media Platforms
Problem 1
The first issue is creators get screwed. Facebook, who owns Instagram, earns FAR MORE money from your content than you do. That doesn’t seem fair. Plus, their ads for businesses wanting to target users on their platform are expensive. The FB app alone earned $71 billion in revenue, and Meta earned $39 billion in net income.
The platforms make money off of both sides. They get to show other ads against your content that people are watching and make $$. Then, they make $$ from your content directly, too.
Problem 2
Centralized Ownership. You know that Facebook’s parent company Meta owns FB, Insta, and WhatsApp. This means they have tons of data on billions of people. And you know what they are doing with it. They are selling it.
TikTok is even worse. Its owner is the Chinese Government. Where do you think their “social” credit scores come from to see if citizens are behaving themselves? They are absolutely tracking your behavior.
Decentralized social moves ownership and control down to the creator level. They earn more from their efforts, and it’s a more organic-looking feed for users since they are not pummeled with ads all the time.
But just to have a social app where all your data isn’t recorded and monitored so they can sell to someone else or judge you for it is reason enough to support decentralized social. And Republik is adding to this growing field.
Meet Republik
Republik is the creator-centric Web3 Social app we need. I know that it may sound a little weird to think of the creators first before the users. But in this case, it works. Here’s why.
Independent creators are always looking for new ways to reach fans. They need new messages to keep content original and interesting for their audience.
Republik uses AI to help users find more relevant content. This helps creators to create better, more meaningful content for their fans.
And you don’t have to doomscroll through X, Instagram, or TikTok to know that fans want new and interesting content. They will follow those who give it to them.
Doomscroll long enough & your brain becomes a dustbin filled with lots of bullshit opinions & ideas,
Now, watch your life getting destroyed as you carry them out in action.
— Focused Warrior (@warriorfocused) August 10, 2024
The plan, so far, is working well. Republik has almost 2 million users and over 5 million transactions so far. That’s a lot of tips for creators. Creators are making more here, so they can create more and better content as a result. Republik uses some of the most advanced monetization tools that exist for creators.
It’s also a sign that Web2 users are finding the transition to Web3 social through Republik easy and worthwhile.
How to Sign Up for Republik
The video below (it has no sound) shows you how easy it is to sign up for an account, post, scroll, and send a tip or unlock exclusive content if we had the native $RPK token to do so. It’s all very user-friendly. Creators earn from:
Tipping
Subscriptions to unlock exclusive content
Pay to Chat feature which allows for direct conversations and more personalized experiences
And the STOX market. More on STOX coming up.
You can see how easy it is to get started and how it looks not that different from legacy social media.
All of these are advantages that make starting and using Republik easier for new users.
You don’t even need your own wallet to sign up. But you will need one with some $RPK if you want to tip or subscribe or unlock other exclusive features.
The STOX Market
Imagine for a second that you could earn a piece of Mr. Beast’s YouTube income? Or Joe Rogan’s podcast income. Pretty cool, huh?
With the STOX Market, Republik has created a marketplace and exchange where you can buy, sell, and trade in the influence and potential growth of your favorite creators.
As they earn more, you can earn a piece of that. It’s a great deal for creators, too. They can keep much more of what they earn on Republik compared to other platforms, so the idea of a revenue share with supporters means the creator still comes out WAY ahead.
It’s only recently launched, and look at some of the huge gains some creators have in their $STOX. It’s so easy, we set up a profile there ourselves. Check it out.
And in only 3 weeks, people are responding.
TVL is over 2.8 million RPK, probably over 3 million when we film this
Over 1100 $STOX minted
Over 10,000 on-chain transactions on Arbitrum for $STOX
And big creators are here on STOX too. The total following of all the creators with listings, including us here at Altcoin Buzz too, is almost 16 million followers.
A couple of the more noteworthy founders are Mike Dudas of The Block and Cherzinga, one of Asia’s biggest female esports figures. And as creators find STOX, their followers will, too.
What Does STOX Look Like?
Now back to setting up your own profile…. In this video, we are showing what STOX looks like. (Again, there is no sound here so it’s not your ears)
First, you get to see what a listing looks like and that they connect their socials like X, Instagram, and TikTok so you can see how big their influence is. Then you can see how to view or invest in individual listings using your $RPK.
Lastly, you see how to check your portfolio and your history of trades for tracking your investment performance as well as taxes.
If you like what you’ve seen so far, and you are a creator yourself, then you should get on STOX and link your socials.
And if you are a trader, you should check it out and see how you can invest in the growing influence of your favorite creators at this link here.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Republik.
Copyright Altcoin Buzz Pte Ltd.
The post Republik: The Future of Decentralized Social appeared first on Altcoin Buzz.
Nermeen Nabil Khear