New future Web 3.0: Socialfi and P2E

Author: Jaehyuk Lee

index

1. Web 3.0: Open the next chapter of the Internet
   1-1. Web 2.0 limit and WEB 3.0 appearance
   1-2. Basic Web 3.0 philosophy
2. Socialfi: The world in which “likes” is profitable
   2–1. Social structure and features
   2-2. Development process and present
3. P2E: A fresh paradigm of the game that earns money, enjoying
   3–1. P2E concept and ownership guarantee
   3-2. Economic system and main P2E games
4. Conclusion: The future of Web 3.0

1. Web 3.0: Open the next chapter of the Internet

1-1. Web 2.0 limit and WEB 3.0 appearance

Every day we write on SNS, record thoughts on blogs and constantly create information. At the same time, they consume many content made by others. In this way, the internet environment in which users become objects of production and consumption of content Web 2.0It’s called. Read only information provided by the company Web 1.0This is an evolutionary form.

But because the era Web 2.0 has passed longer, a fresh problem came to my mind. Centralization of numerous data on a compact number of huge platforms has been intensified. There was no justified compensation for the data we created, and the central server was exposed to hacking threatened with hacking.

To solve these problems, a fresh internet paradigm Web 3.0It appeared.

1-2. Basic Web 3.0 philosophy

Web 3.0 is a centralized network. The biggest feature is that the ownership of data lies in the unit, not the company. The risk of hacking is significantly reduced because the data is distributed in several places and stored as encryption technology. It also opens a way to be recognized for its contribution to your own data and generating profits.

Web 3.0 aims to return the authority and ownership to users of data centralization and make us all as an subject of the Internet economy.

Two representative areas that create the philosophy of this network 3.0 are Socialfi and P2E.

2. Socialfi: a world in which “likes” are profitable

2–1. Social structure and features

Socialfi is a fresh social media ecosystem that connects social and financial networks (DEFI).

The biggest difference for existing SNS is that the user’s activity is a “reward”. All social activities, such as publishing, comments and “likes”, compensate for cryptocurrency (tokens). The data is stored in blockchain, not on the central server, and are fully owned by the individual and can directly participate in a valid decision (management) of the platform through tokens received as a prize.

2-2. Development process and present

• Early project (caught in 2017): Steem appeared, Huobi Chat, it, etc., but most of them did not succeed because of the technical maturity and lack of user base.
• Growth period (2021 ~): Together with the DEFI boom in 2020, WEB 3.0 developed both funds and interests were introduced to Socialfi. Projects such as CyberConnect, Galxe and DESO began to attract attention.
• Current (latest): Recently, Friend.Tech, Cheelee and Protocol Lens Protocol improved the user experience (UX), introduced sustainable economic models and developed a socialfi ecosystem to a higher level.

Of course, Socialfi is still at an early stage where the Killer application does not appear, which will still capture the public. However, the possibility of development is unlimited because it can solve the Web 2.0 problem, such as privacy protection and distribution of data values.

3. P2E: A fresh game paradigm that earns money

3–1. P2E concept and ownership guarantee

P2E (Play-to-Earn) is a game model that allows you to play games and get practical resources such as cryptocurrency, tokens and NFT.

Thanks to blockchain technology, users have a guarantee of the “real property” of objects and assets in the game. My assets registered on blockchain, not a central server, cannot be accepted or modified by anyone, and can be freely traded on a decentralized market and generate profits.

3-2. Economic system and main P2E games

P2E games are necessary for sophisticated economic systems.

• Game economy: Design the way in which the value is created and replaced in the game, making it similar to the real economic system.
• DEFI mechanism: Financial models, such as fluctuating and extraction of liquidity, are introduced to provide additional profits to users.
• Tokenomics: It was designed to be balanced without the breakfast of the game management by adjusting the supply and demand of tokens.

After the initial stories of success, such as Axie Infinity and The Sandbox, fresh games with pioneering ideas and Venture Capital still attract fresh users to the Web 3.0 ecosystem.

From 2025, the following games run the P2E market.

• Foreign worlds (Wax, bnb chain -tken: tlm)
• Matr1x (Ethereum, based on polygons | Token: Fire)
• Pixels (Ethereum, based on Ronin | Token: Pixel)
• Nine chronicles (Based on ethereum | token: WNCG)

4. Conclusion: the future of Web 3.0

The future of Web 3.0 has not yet been completed. But with the assist of specific examples, such as Socialfi and P2E, we can see a fresh era of the Internet in which data sovereignty returns to the user, and our actions are considered only values. Wouldn’t it be nice to expect what pioneering services to change our lives in the future?

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