Social Media as a market segment for us belongs to the Mixed Reality Apps. For that segment we offer a social interaction feature as embedded one on the system layer. This makes Social Media an outdated type of platform of both interpersonal interaction and content distribution, advertisement placements. We allow users directly interact around content (and in the Web 4.0 everything is content) with monetization attached making it unrequited to offer any isolated social media intermediary with Web 2.0 ads-based models attached.
How is this better then social media? - It’s absolutely incomparable as within our platform every user creates tradeable content seamlessly and as our system is public and interoperable, there is no technical or economical limit in such a content distribution.
The current social media stagnating and new models will be further looking more and more appealing to the social media users[1].
One example is the Mastodon decentralized social media where people are joining out of pure lack of trust to existing platforms. And it showing an increasing interest of users with even the conservative forecasts on its growth (based on the historical data):
If Mastodon continues to grow at an average annual rate of 50%, it could potentially reach:
2024: Approximately 10.5 million users.
2025: Approximately 15.75 million users.
2026: Approximately 23.625 million users.
2027: Approximately 35.4375 million users.
2028: Approximately 53.15625 million users.
[1] Facebook and the creation of the metaverse https://www.researchgate.net/publication/357635338_Facebook_and_the_creation_of_the_Metaverse_Radical_business_model_innovation_or_incremental_transformation
Roblox case
Another great example of new models of social interaction around content (and in the Web 4.0 everything is a content) – the Roblox platform.[1]
Given the lack of interest among the incoming generations, for the traditional social media becomes more and more critical to engage users with more and more manipulative and invasive approaches sitting deeply on the psychological exploitation and misuse. Which is already demonstrating its unsustainability and harmfulness and thus is a subject to either change or become replaced[2] [3].
So that is why younger generations prefer direct interactions in more friendly and useful environments – social gaming. And with time those generations will become adults, inheriting similar patterns at work. Where we meet them with our platform solutions.
Which all basically demonstrates that even without a real need people are making effort right now to switch into social environments with free non-invasive models allowing more control around privacy and personal data. While our social environments offer way more value for the users to stay and no reason to leave.
[1] Roblox Revenue and Usage Statistics (2024) https://www.businessofapps.com/data/roblox-statistics/
[2] Constant craving: how digital media turned us all into dopamine addicts https://www.theguardian.com/global/2021/aug/22/how-digital-media-turned-us-all-into-dopamine-addicts-and-what-we-can-do-to-break-the-cycle
[3] The State of the Culture, 2024 https://www.honest-broker.com/p/the-state-of-the-culture-2024