The web2 space proposed opportunities for creators, but that only scratched the surface. There is a whole world of value, especially in the interactions between creators and their audiences, which remains to be realized.
It allows creators to move away from the centralized and rent-seeking platforms, enabling them to own 100% of their data, brand and work.
We had the opportunity to talk to Daniel, Co-founder of Republik, who started his journey in crypto because he “has always been interested in monetary systems and how they shape human societies….and stayed because this is exciting and futuristic AF.”
Empowering in the Metaverse
Republik is built on a comprehensive suite of tools built on a fun, interactive platform to help creators and their fans interact in meaningful ways. It is a web3 social media content platform that “puts the power back into the hands of the creators.”
Social media in web2 is a curated version of everyday life. But web3 is here to create a new paradigm shift in interaction and expression, “it will give people a choice, the choice to express themselves delinked from their physical or geographical circumstances.”
The idea in the creation of Republik was to make it easy and understandable in the best possible way. Similar to web2 platforms, the social media content platform Republik offers will be free, without the need for creators to understand web3 jargon.
This is necessary to see creators take the first step into web3 social media. The first move must be from the creators, though; after that, fans would likely follow where the creators go.
In addition, building a platform with tools such as live streaming and p2p chat will enhance the user experience of consumers while maximizing value for creators and being built on a blockchain.
Putting power back in the hands of creators
Why would a creator make a move to Republik? Well, the platform sustains itself off transactions and exchange fees and returns all of it to creators. This means creators get 100% of what their audience gives to them.
“We are creating real value and products that people want to use, not just to speculate or generate “yield” but to engage with their favorite creators, support them, share in their success and get great content.”
Social is one space unlike DeFi and arguably GameFi. We all can relate to it as its foundation is built not on speculation or yield generation but skewed towards personal interests.
They tackle this by using existing web2 platforms as a marketing tool. “These legacy platforms derive most of their value from attention, whereas we want to realize the value inherent in interactions.”
Change is always difficult, especially the shift towards a “web3” platform which web2 creators might not know extensively about. And we can’t blame them; they found their niche and probably a rhythm which worked for them.
While the team at Republik is taking necessary steps in building an all-in-one platform, they are also doing a lot of work in educating them.
It was “equally hard to convince people of what we’re doing, especially people who are not in the blockchain space, but we have been slowly and steadily gaining traction on both fronts.” The learning curve for web3 may be steep, but Republik arguably does so in the best environment for learning.
The Web3 space is ever-changing, we see narratives come and go, but SocialFi may be inevitable for both worlds (Web2 and Web3) to coexist.”The internet felt huge 20 years ago, as did the great libraries 20 years ago, but that is where we are now, on the cusp of a web three revolution.”
[Editor’s Note: This article does not represent financial advice. Please do your research before investing.]
Featured Image Credit: ChainDebrief