Director of Andreessen Horowitz sees "promising paths" for Web3 social platforms — EthCC
Sriram Krishnan said that "the world of social media is stuck in a different era and things have to change".
= =.jpg 1x, https://images.cointelegraph.com/images/960_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDcvZTU5NDcyZDUtOGExZi00YjRhLWJkMjctYTgxMzZkMGRmZDQ5LmpwZw == .jpg 2x" src="https://images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMtMDcvZTU5NDcyZDUtOGExZi00YjRhLWJkMjctYTgxMzZkMGRmZDQ5L mpw Zw==.jpg" alt="Andreessen Horowitz exec sees "promising paths" for Web3 social platforms - EthCC " class="lazy-image__img type:primaryImage"/> Event Join us on social networksAn executive at venture capital firm Andreessen Horowitz (a16z) believes that Web3 has the solutions to the headaches and problems encountered on Web2-based social media platforms.
During a keynote at the Ethereum Community Conference (EthCC), a16z partner Sriram Krishnan shared a presentation on how Web3 can fix social media and consumer applications.
Krishnan pointed out that "the world of social media is stuck in a different era, and things have to change." The executive said his goal in the presentation was to convince the audience that “now is the time to build mass-market consumer crypto social media marketplace apps.”
Sriram Krishnan at the EthCC event in Paris. Source: EthCC LivestreamKrishnan, who has also worked for major social media companies like Meta and Twitter, pointed out some commonalities that modern social media platforms currently exploit. This includes locking subscribers to a specific platform. "You can't take them with you when you go," he said.
Furthermore, social media platforms have begun to have limited or no application programming interface, weak economic benefits for creators, and they do not allow users and creators to have a voice in terms of platform governance.
The executive believes there are promising avenues and opportunities for Web3 social platforms based on these issues. These include targeting underserved communities and high-status people who don't have a voice on other platforms and not immediately focusing on financial incentives.
Related: Dev explains how ENS plays a role in decentralized social media
Unlike popular approaches where Web3 is marketed as a way for creators to get better paid, the executive believes that another promising avenue that could lead...
Sriram Krishnan said that "the world of social media is stuck in a different era and things have to change".
= =.jpg 1x, https://images.cointelegraph.com/images/960_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDcvZTU5NDcyZDUtOGExZi00YjRhLWJkMjctYTgxMzZkMGRmZDQ5LmpwZw == .jpg 2x" src="https://images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMtMDcvZTU5NDcyZDUtOGExZi00YjRhLWJkMjctYTgxMzZkMGRmZDQ5L mpw Zw==.jpg" alt="Andreessen Horowitz exec sees "promising paths" for Web3 social platforms - EthCC " class="lazy-image__img type:primaryImage"/> Event Join us on social networksAn executive at venture capital firm Andreessen Horowitz (a16z) believes that Web3 has the solutions to the headaches and problems encountered on Web2-based social media platforms.
During a keynote at the Ethereum Community Conference (EthCC), a16z partner Sriram Krishnan shared a presentation on how Web3 can fix social media and consumer applications.
Krishnan pointed out that "the world of social media is stuck in a different era, and things have to change." The executive said his goal in the presentation was to convince the audience that “now is the time to build mass-market consumer crypto social media marketplace apps.”
Sriram Krishnan at the EthCC event in Paris. Source: EthCC LivestreamKrishnan, who has also worked for major social media companies like Meta and Twitter, pointed out some commonalities that modern social media platforms currently exploit. This includes locking subscribers to a specific platform. "You can't take them with you when you go," he said.
Furthermore, social media platforms have begun to have limited or no application programming interface, weak economic benefits for creators, and they do not allow users and creators to have a voice in terms of platform governance.
The executive believes there are promising avenues and opportunities for Web3 social platforms based on these issues. These include targeting underserved communities and high-status people who don't have a voice on other platforms and not immediately focusing on financial incentives.
Related: Dev explains how ENS plays a role in decentralized social media
Unlike popular approaches where Web3 is marketed as a way for creators to get better paid, the executive believes that another promising avenue that could lead...
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