Why OpenSocial Protocol?
Towards building a multi-chain SocialFi infrastructure
Out of all web3 use cases, why SocialFi?
In the past couple of years, DeFi and GameFi have caught most of observers, users and investors’ attention, and it is believed that the killer app unlocking mainstream adoption is going to come from one of these two sectors.
Meanwhile, SocialFi is one of the most overlooked theses in crypto. Yet, we believe it has the potential to surpass GameFi and DeFi, and become the best positioned use case for mass adoption in crypto. That’s why we’ve set out to build the underlying infrastructure layer to power native Web3 social experiences, and make it easier for builders to enter the SocialFi arena.
We see several key catalysts that make SocialFi primed for success:
- technological readiness including advancements in AA wallet, which greatly improves UX and makes user onboarding easier by reducing friction
- the market trending towards more serious attempts in SocialFi, prompting greater interest in the overall narrative of web3 social
- significant user growth and stronger community-based adoption driven by the surge of interest in GameFi and memecoins.
SocialFi is a broad category and based on the gaps we identified within the space, we decided we would build the underlying SocialFi infrastructure layer - our vision is to ultimately enable the largest multi-chain social economy.
OpenSocial Protocol — Core Design
- Social assets and data ownership: Users and communities can own and control their social graph and content as social assets providing them opportunities to realize the full value of their social connections and engagement.
- Assemble economically modular design: Lego-like, modular design enabling dApp developers and creators to assemble experiences quickly and economically, in the format and architecture they want.
- Horizontal enablement multi-chain layer: Allows OpenSocial Protocol to partner with multiple chains and garner much bigger user and developer base.
- Multi-layer reward and incentives: Multiple opportunities for monetization and reward incentives on OpenSocial Protocol and SocialFi dApp levels, creating a larger ecosystem “GDP” on OpenSocial Protocol.
- Inspired by Asia consumer apps: Merging insight and experience gained from building consumer social apps in Asia with crypto, web3 native designs and tokenomics.
About OpenSocial Protocol
OpenSocial Protocol (OSP) is a multichain SocialFi infrastructure that provides the building blocks enabling any developer or creator to build their own social dApps. Features and modules available to build upon include social actions (posting or reacting in text, image, audio, video or polling), feed, chatrooms, along with other plugins. OpenSocial Protocol does not depend on one single application and enables a variety of potential uses.
