An interesting read. I've been following Lens Protocol for some time, and worried about social media's sustainability, as it's a house of cards built on advertisement revenue.
I think the problems going forward will be hosting expenses and platform governance. I am starting to think the Web3 ideal of decentralizing hosting is a pipe-dream, especially with a monolithic social media site. And governance is probably more important, anyways. I am currently working on building an oldschool phpBB forum which uses a mix of blockchain integration and social contracts to rent its governance out to active users to cover its expenses. This would be a proof of concept for allowing web communities to use constitutional democratic republic governance rather than a hard ownership and user barrier.
Forums are one of the concepts I could not dig deeper into the piece. I believe the internet was originally decentralised with forum based communities. But Reddit & Facebook groups made many of them redundant. Pretty cool what you are building if you can crack the cold-start problem.
Hey Kaivalya! Thanks a ton. Unfortunately, I'm deep in the next few articles so a call won't be possible but happy to chat over text on Twitter/Telegram if helpful.
Great read - nice bit of history as well. Did not know about the early success and ultimate demise of OpenSocial, super interesting.
Thank you Jacques
An interesting read. I've been following Lens Protocol for some time, and worried about social media's sustainability, as it's a house of cards built on advertisement revenue.
I think the problems going forward will be hosting expenses and platform governance. I am starting to think the Web3 ideal of decentralizing hosting is a pipe-dream, especially with a monolithic social media site. And governance is probably more important, anyways. I am currently working on building an oldschool phpBB forum which uses a mix of blockchain integration and social contracts to rent its governance out to active users to cover its expenses. This would be a proof of concept for allowing web communities to use constitutional democratic republic governance rather than a hard ownership and user barrier.
Forums are one of the concepts I could not dig deeper into the piece. I believe the internet was originally decentralised with forum based communities. But Reddit & Facebook groups made many of them redundant. Pretty cool what you are building if you can crack the cold-start problem.
Hello Joel, loved the article. Would it possible to pick your brain sometime over the same article!
Hey Kaivalya! Thanks a ton. Unfortunately, I'm deep in the next few articles so a call won't be possible but happy to chat over text on Twitter/Telegram if helpful.
Ahh, unfortunately I'm not on Twitter or Telegram.
Here's my e-mail if easier! - joel@decentralised.co