Where do you find the majority of announcements about crypto or any blockchain development? Where do the crypto and blockchain honchos make the most revelations? What kind of media or communication platform has the strongest impact on the ups and downs of cryptos? Well, you know the answer- social media. Read more about how to buy bitcoin instantly.
In other words, the social media platforms serve as the most dominant “middlemen” between the blockchain industry and the wider audience out there. Have you ever thought why social media platforms have been welcoming to a relatively new technology like blockchain- that was considered alien and probably outcast even just a few days back? Well, it’s because, when the major part of the world was not willing to embrace blockchain, the social media giants were quick to recognize the disruptive potential of the blockchain technology. The leading social media networks could fathom long back how blockchain, with its revolutionary technology, would be able to herald the upcoming Web 3.0. Most importantly, they did not fail to reckon that if they have to thrive in the upcoming Web order, they will have to be welcoming to the disruptive forces of blockchain.
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We will get into the discussion of how social media giants are extending support to blockchain technology. But, before that, we will have a quick look at how blockchain technology stands out as a mighty force for the upcoming Web 3.0 generation.
Why is blockchain important in Web 3.0?
Blockchain is a revolutionary DLT technology. Armed with disruptive features, the technology holds the potential to redefine the existing order in several sectors and for better. The web 3.0 is bustling with the vision of a world that would try to be free of big brothers controlling the economy and transfer of data. The upcoming Web 3.0 also dreams of a more secured and safer world, especially for big data.
Layered by a transparent decentralized infrastructure, blockchain holds the potential to democratize the economy through P2P transactions, devoid of centralized control. Then, blockchain is able to assure optimum safety for data through its cryptographic protection, immutability, and decentralization aspect that prevents hacking attempts. Besides, as blockchain represents a shared distributed ledger, the technology is able to assure complete transparency.
Proactive involvement of social media in blockchain technology
When it comes to blockchain technology, leading social media platforms are doing what they do the best- offering a big and universal platform for dissemination of information about the blockchain technology. But, that’s not the only thing that these social media platforms are doing when it comes to the blockchain today. In other words, the social media honchos are not just passive participants in blockchain products in 2022- rather, they are making or are poised to establish prominent footprints in the blockchain zone.
So, while a leading social media platform is planning to launch its native crypto, another social media portal has already launched a blockchain platform. A line of other social media platforms are deeply contemplating about how to get actively involved in NFT projects- another emerging blockchain product. In fact, social media already plays a big role in helping NFT creators to share news and marketing information about their NFT assets.
Top social media corporations that have welcomed blockchain
Below is a list of top social media giants that are making the most of the blockchain technology to create a thriving ground for their platforms in the Web 3.0 world.
Twitter is undoubtedly the favorite of the blockchain developers and all leading thought leaders, experts, and analysts associated with the disruptive technology. From announcing about hard forks and upgrades to declaring ICOs and airdrops- blockchain honchos prefer to take to Twitter first to report any new information about their blockchain platform and products.
A tweet by Twitter’s former co-founder is one of the highest selling NFTs today. In 2021, Twitter housed over 200 million tweets on NFT. In the early quarter of January, Twitter has been the host to a whopping number of 60 million tweets on NFT.
Most importantly, Twitter is building up a team devoted to decentralization of the platform and incorporation of blockchain solutions (NFT sale and crypto payment) in its virtual service.
As of now, Twitter allows users to put their NFT collectibles on profile picture display. The social media giant has also started tipping with Bitcoin.
Although Libra (now Diem) has not been able to live up to the expectations yet Facebook has probably been able to manage things for better with Meta.
Meta is Facebook’s signature Metaverse – just the immersive virtual world needed for seamless operation of blockchain products like NFTs, cryptocurrencies, digital wallets, blockchain-based gaming portals, and so on.
In fact, Facebook’s rebranding to Meta also signifies that the platform is keen on embracing not only the blockchain technology but also any emerging concept that is being developed on blockchain.
Tencent is the parent company of China’s most popular “super application”, WeChat. But the company has not stopped by just developing an app that boasts a colossal volume of 1 billion+ users. Rather, Tencent is currently building a revolutionary one-stop blockchain portal, Tencent Cloud, that will enable users to pay bills electronically for various sectors.
Kakao Talk, the most popular mobile messenger app of South Korea, now doubles up as NFT marketplace. The Kakao NFT marketplace is officially known as “KrafterSpace”. In fact, the exchange has been integrated with the most famous NFT marketplace.
KrafterSpace allows users to buy NFT artworks straight from Kakao’s messaging app. The app also carries a digital wallet, called Klip Drops. Klip Drops and KrafterSpace have been built on Kakao’s native blockchain platform. It has been named as “Klaytn” and the platform is presently bustling with 800,000+ users.
Additionally, Kakao is taking proactive steps for further advancement of its blockchain platform. In 2021 August, the company had launched a Growth Fund ($515 million) dedicated to support developers working on the blockchain ecosystem.
Japan’s biggest messaging app company has already launched its proprietary blockchain. Titled “LINE”, the blockchain platform houses NFT marketplace, crypto exchange, and also digital wallet. The blockchain has its own native crypto, LINK. One of the most popular tokens in the country, LINK has been attracting millions of miners.
Apart from these social media giants, other popular social media platforms like Reddit and Instagram are also planning to actively foray into the blockchain space.