- Introducing a User-Driven Social Network
With the introduction of its application on Base, SoMon, a decentralized Web3 forum that promotes user-owned content and connections, accomplished a noteworthy milestone by completing over 300,000 on-chain transactions in just 14 days. SoMon is now the most active and quickly expanding social application in the Web3 arena as a result of its explosive expansion.
SoMon, also known as Social Monster, enables users to make money from their interactions and build communities, or Tribes, around their favorite subjects, hobbies, artists, and fandoms. It is notable for being the first program developed on the OpenSocial Protocol, an extensible layer of infrastructure for creating social applications. It is also the first Web3 social software that works without gas fees, which dramatically reduces entrance barriers and draws in people from beyond the conventional cryptocurrency community.
Quick Development and User Involvement
The mobile app, which was released on June 19, 2024, has remarkably gained traction—in just two weeks, there have been over 30,000 on-chain registrations. With over 80,000 people creating over 2 million social engagements across more than 300 distinct Tribes, the user base has been growing quickly. This platform’s popularity and efficiency in establishing a user-driven social environment are demonstrated by its quick expansion.
The platform’s basic tenet is community-driven development, as highlighted by Sean Tao, CEO and co-founder of SoMon. SoMon gives users the ability to create and curate their own communities, allowing them to interact with others and gain from their social contributions—instead of constructing communities for them. With this strategy, users may be in charge of their social interactions and benefit from their hard work.
Novelty Features and Revenue
Users of SoMon started minting their own Tribes using a variety of tools and fragmented ownership enabled by NFT technology once a new functionality was released on July 17, 2024. With the use of a program called Megaphone, which lets users pay for promotional visibility, this capability enables users to produce content and monetize it. Megaphone generates revenue that is then dispersed to stakeholders and Tribe owners, resulting in a decentralized and fair monetization strategy.
As of right now, SoMon is on its first season, which ends on July 31, 2024. Users compete throughout this time to advance through various leagues and win badges by accumulating points through interactions. SoMon intends to formally introduce $OwO, its community token, at the conclusion of the current season. The community will receive tokens through airdrops; on August 1, 2024, 3% of the token’s total supply will be released in the first airdrop, and 1% more will be released for each successive season.
Prospective Routes and Community Engagement
In the near future, SoMon wants to encourage users to develop and interact with their bot-free communities by launching the Tribe Summer campaign, which will help to activate the community economy. The goal of this campaign is to improve user interaction and bolster SoMon’s standing as the industry leader in the Web3 social area.
To sum up, SoMon is transforming the Web3 social scene by providing a user-centric, decentralized platform that enables anybody to build and monetize a community. Its creative methodology, quick expansion, and enthusiastic user base highlight its potential to revolutionize social interactions in the Web3 ecosystem. SoMon is positioned to become a pillar of user-owned social media, supporting a thriving and dynamic community, as it develops further and adds new features.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
