5 Best Web3 Social Media Platforms and Networks in 2024

The internet is evolving, and with it comes major changes in social media. A traditional social media platform is known for invading user privacy, questionable data practices, and massive censorship. Web3 social media platforms aim to change all of that.

In this article, you’ll discover how Web 3.0 social media platforms work and which are the best ones in the market today.

How Do Web3 Social Media Platforms Work?

A Web 3.0 social media platform combines advanced technology with principles of fairness, privacy, and user control to create a more transparent experience. Instead of one company controlling everything on a centralized server, the social media platform operates on a network of computers called nodes. Users also have more control over their data and online identities.

These platforms have their own native crypto or tokens. These tokens have value and can be earned by users for their contributions. They can also be used by the community to show appreciation to their favorite creators.

Additionally, Web3 platforms often embrace decentralized governance models. Users have a voice in decision-making processes, and platform upgrades and changes are determined collectively.

Benefits of a Web3 Social Media Network

A Web3 social media platform offers several benefits compared to a traditional centralized social media platform:

• Prioritizes user control over their data and online identity

Users have greater ownership and autonomy over their personal information, content, and interactions, reducing the risk of data exploitation or manipulation by centralized platforms.

• Enhanced privacy and security

Decentralized social media platforms often implement privacy-enhancing technologies, such as encryption and zero-knowledge proofs, to protect user data. Users have stronger privacy assurances, reducing the likelihood of data breaches or unauthorized access.

• Exciting incentives

Tokenized ecosystems reward users for their contributions, such as creating content, curating quality content, or participating in governance decisions. This incentivization model allows users to benefit financially and encourages active engagement.

• Interoperability and data portability

A Web3 social media platform is interoperable, enabling seamless integration with other decentralized applications (DApps) and platforms. Users have the flexibility to control and move their data across different services, promoting data portability and reducing vendor lock-in.

List of the Top 5 Web3 Social Media Platforms

Here are the top Web3 social media apps to try today:

1. Diamond App

Diamond App is a decentralized social media platform built on the DeSo blockchain technology that aims to provide users with control over their social identities and the ability to monetize their content and influence.

Diamond App introduces a unique concept by creating individual tokens, called creator coins, for each user on the social network. These creator coins represent the user’s reputation and influence within the network. Users can buy, sell, and hold creator coins of various profiles, including their own, providing an avenue for users to invest in creators they believe in.

In November 2022, its community reached over 130,000 active users. Just like traditional social channels, it has a social feed where you can see the most popular posts and posts from creators you follow. You can create a profile and post your bio. There’s also an option for easy communication by sending direct messages to other creators.

However, unlike Web 2.0 social media platforms, likes on Diamond App are convertible to actual currency. Diamond App has a tipping system (diamonds) where users can send crypto to their favorite creators. This allows creators to earn actual money for the “likes” delivered by fans. Creators can also mint their posts as NFTs and turn them into digital collectibles.

2. Audius

Audius is a next-generation decentralized social media platform built for musicians and music lovers. It’s a decentralized music streaming platform that offers a unique and artist-centric experience.

The social media platform allows artists to directly upload, share, and monetize their music, giving them control over their content and the opportunity to earn revenue through streaming royalties, tips, and fan engagement. Smart contracts handle royalty payments, guaranteeing fair distribution of revenue to artists based on predefined rules.

Last year, the platform’s user community hit 7.5 million. Audius encourages user interaction through music streaming, favoriting tracks, following artists, playlist creation, and reposting. It fosters community engagement and collaboration by providing features for messaging, networking, and remixing. Users can directly communicate with artists, provide feedback, and build a sense of community within the social media platform.

The platform introduces its native crypto called “Audio” ($AUDIO), which enables staking and participation in platform governance, rewards artists, and facilitates platform operations.

3. Minds

Minds is an open-source Web3 social media platform that offers users a privacy-focused and decentralized alternative to mainstream social networks. Users earn Minds tokens, a crypto for boosting content, supporting other users, and upgrading to a premium membership. These tokens are stored on the Ethereum blockchain, providing transparency and accountability for token transactions.

The integration of crypto enables users to use Minds Tokens to boost their content’s visibility and exchange tokens for other cryptocurrencies or fiat currencies. This allows users to benefit from their contributions and potentially monetize their efforts on the social network.

By 2020, Minds reached 2.5 million registered users. The Web3 social media platform allows users to interact through various features, including content posts, direct communication, following other users, and joining a community. Users can engage with posts through reactions, comments, and shares, fostering discussions and connections.

Minds encourages free speech and hosts networking communities with diverse interests, including discussions on politics, social issues, art, crypto, and activism. The social media platform doesn’t use advertising, but the free version has boosted posts, which you can turn off when switching to a paid membership.

4. Chingari

Chingari is a decentralized video-sharing social media platform created in India and launched in 2018. It was launched as an alternative to TikTok when it was banned in the country. Although an Indian-native networking app, it supports over 20 languages and has a global community of over 175 million due to its rebranding and crypto-empowered community.

Chingari uses the GARI token to reward creators and users for creating and engaging with content on the social media platform. You can earn the token by logging into the app, posting and watching a video, receiving and giving likes, sharing videos, receiving and making comments, gaining followers, and following others.

You can exchange the GARI token for fiat currency or other crypto tokens in major exchanges. You can also leave them in your account to appreciate in value. This create-and-engage-to-earn structure is a fair way to pay creators for their hard work and encourage fans to engage with creators they value.

Chingari’s videos have over 1.6 billion views and their networking app has over 50 million users. They’re also awarded as the #1 Social Networking App in India.

5. Mastodon

Mastodon is one of the best decentralized social media platforms offering users an alternative to mainstream centralized platforms. It has over 10 million registered users. It operates on a federated model, where multiple independent servers, known as instances, form a network.

Each instance is operated independently, allowing users to choose the instance that aligns with their preferences and community guidelines. This promotes autonomy, diversity, and resilience within the social media platform.

Mastodon provides various means of user interaction, including toots (short messages), replies, mentions, boosts (reblogs), and communication options via direct messages. These features facilitate conversations, community-building, and content sharing. Users can follow accounts of their interest and curate their timelines accordingly.

A Mastodon Post in a Public Timeline (Source)

While Mastodon doesn’t have its own crypto or built-in user reward system, some instances may integrate external tools for user rewards or tipping. However, the primary focus of Mastodon is on decentralized social media rather than incorporating blockchain principles.

Conclusion

A Web3 social network provides a welcome alternative to traditional social channels. With Web3 channels, users can benefit from community governance and improved transparency. Try joining one of the platforms we’ve listed above and experience firsthand what a Web3 social network can offer.

Navigate the Complex Social Media Industry with NetShopping

With the rapid changes and complexities surrounding traditional and Web3 social media networks, getting ahead of the curve requires expert help. At NetShopping, we understand social media and can help you navigate the ever-changing landscape.

Get in touch with one of our experts today for a free, no-obligation, consultation.