DailyCoin
Published Nov 09, 2021 08:15AM ET
Updated Nov 09, 2021 08:31AM ET
The Next Web 3.0 Social Media Will Be Built on Solana
Solana Is Preferred for Web 3.0
Coincidently, the price of Solana reached an all-time high of $260 on November 7th, the opening day of Breakpoint 2021. What’s more, Solana is gaining a reputation for its future use case, fitting the characteristics upon which Web 3.0 social networks can be built.
Reddit’s co-founder, and the founder of Seven Seven Six Ventures, Alexis Ohanian, stated on Monday, during the Solana conference, that the latter company will be creating a $50 million fund to develop social media projects on Solana.
Attention Seven Seven Six community: Something big is coming tomorrow at @SolanaConf pic.twitter.com/0K1cfg2dE5His statement comes a day after Sam-Bankman Fried also identified Solana as the future hub for Web 3.0 gaming and social media. According to TheBlockCrypto, Bankman stated that social media on blockchain could be “absolutely huge.”— 7⃣7⃣6⃣ (@sevensevensix) November 8, 2021
In truth, everyone believes that Web 3.0 can improve the quality of our digital interactions and create a more collaborative internet. However, it would require a decentralized structure to not fall into the same pitfalls as centralized Web 2.0 governors, such as Facebook (NASDAQ:FB), who rebranded to “Meta,” did.
On The Flipside
Why You Should Care?
Ohanian, who created Reddit, firmly believes that this new iteration of the internet should be built from the ground up, and Web 3.0 offers innovators and tech personalities this very possibility.
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