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Is SocialFi the next trend? What is the future of blockchain finance?

  • On these centralized platforms, creators and readers cannot get direct rewards from the content they contribute, but the platform can take advantage of the data that users generate to make profit, which is not fair to users.
  • Data security and data value sharing have always been the basic needs of the web 3.0 era.

Last week, a project called Monaco Planet suddenly became popular. In its NFT blind box sales event on November 15th, 10,000 Yacht NFT blind boxes were sold out within 20 minutes, even causing temporary traffic on the Ethereum network. On November 29, NFTSCAN showed that Monaco Planet became the NFT collection with the most transactions in the past 6 hours, with 1,169 transactions and an average price of $0.3288. However, after a brief period of excitement, some doubts came.

A wonderful fairy tale about the equivalence of output and return

In society, social interaction is almost rigid for everyone. Since the development of the Internet, content social platforms have been almost monopolized by giants such as facebook and twitter. On these centralized platforms, creators and readers cannot get direct rewards from the content they contribute, but the platform can take advantage of the data that users generate to make profit, which is not fair to users. The birth of Monaco Planet aims to change this unfair status.

Monaca Planet uses native tokens to motivate users to write and participate in discussions to obtain rewards. Under the incentive of rewards, many user registrations and content sharing have indeed emerged. However, the real value generated by this incentive does not seem to be as good as imagined. This SocialFi platform with content sharing as its core does not have a reasonable mechanism to restrict the content quality of creators. A large number of users form alliances and praise each other in order to get rewards, resulting in a flood of low-quality content on the platform. The crude attention degree algorithm and the equity algorithm make the content of the entire homepage interface dull. This could not help but disappoint users who are really optimistic about SocialFi.

A data ownership revolution

The emergence of the Web 3.0 concept has made more and more users aware of the importance of data ownership. According to the forecast in the data development trend report “Data Age 2025” released by IDC, by 2025, the global data will reach 163ZB. Since the development of the Internet, data has exploded. The development and progress of machine learning have enabled effective use of data. Today’s data has become a key element of enterprise development and social operations. However, as a user of a data provider, it is difficult to obtain substantial benefits from the data.

The emergence of Monaco Planet enables users to get rewards while generating data. This seems to be a good way to use Defi to transfer the value of data to data producers. However, as we have seen, it did not distribute the benefits to the people who contributed value, but just got a lot of junk content driven by the benefits.

The true value of data lies in the rational use of existing data

GoodData blockchain is a data value monetization platform that combines blockchain technology and privacy computation, and integrates data ownership verification, data circulation, data computation, and data protection. GoodData encourages users to share data, so that data can bring benefits to data generation while exerting social value.

GoodData starts with the simplest sleep data and motivates users to share their sleep data and benefit from it. Combining privacy computation technology and blockchain, GoodData can enable organizations with data needs to use the shared data for computation and research under the condition of user data security.

Cyborg-Goody is a digital identity NFT issued on the GoodData platform. The biggest difference between Cyborg-Goody and other NFT is that users can choose to connect any of their own data to form a digital avatar in the metaverse.

Data security and data value sharing have always been the basic needs of the web 3.0 era. In recent years, many platforms dedicated to sharing the value of data have emerged. Although there are many shortcomings, it is certain that the importance of data is attracting more people’s attention, and we can fully enjoy this for everyone. The era of data benefits is full of confidence.

Summary of GoodData’s official account

website: https://goodata.io/

NFT introduction: goody.goodata.io

WeChat subscription account:Good Data Foundation

White paper:https://goodata.io/whitepaper.pdf

Medium:https://medium.com/gooddatafound

Twitter:https://twitter.com/gooddatafound

Telegram :https://t.me/gooddatafound

Discord:https://discord.gg/v9WayuMpHs

Reddit:https://www.reddit.com/r/GoodDataFoundation/

Weibo:https://weibo.com/7579699020

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A next-gen Metaverse-ready, secure decentralized platform that unearths the real value of NFTs via our multi-role NFT “Cyborg-Goody”.

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