Phaver is a “share-to-earn” social media platform that runs on the Lens Protocol. This Web3 social media platform permits customers to personal their knowledge and generate earnings streams by posting and sharing content material.
Phaver’s co-founder, Joonatan, describes the worth of the platform by saying:
“Customers have management of their very own profiles with the NFTs and their social relationships by way of following NFTs. So we notice that one thing we have now to do from the start is to permit customers to re-own the interoperable knowledge.”
Versus web2 platforms like Instagram, which can present profiles in NFT varieties however can even resolve which NFT can preserve posting on their platform.
When customers present and personal the info, Joonatan continues, our job at Phaver turns into merely constructing a premium consumer expertise.
The Platform
The Phaver ecosystem runs on the Phaver factors and tokens. As an alternative of likes that we use on all social media platforms, Phaver offers the prospect to stake tokens below a submit. Daily, every Phaver account will get 5 cash they’ll stake on any 5 posts they like. One stake offers 10 Phaver factors to the staking account.
The staking operate works as gifting tokens. Whereas these tokens don’t have worth proper now, they are going to be worthwhile sooner or later after Phaver’s native tokens are launched. In keeping with Joonatan, the workforce is working to ascertain a dual-token economic system, which is able to reward the early adopters upon launch.
All content material varieties, together with textual content, video, GIF, and footage, are allowed on Phaver. Customers are additionally inspired to re-share content material they discover on different web2 social media platforms. Every submit is added below a pre-determined class to allow customers to navigate simpler amongst posts inside Phaver.
The way it works
Phaver focuses on rewarding the customers somewhat than the protocol. The platform is trying to generate cash from the adverts in a approach to increase its native token. Joonatan describes the mannequin by saying:
“We don’t need do and invasive monetization mannequin the place we scrape your on-line historical past, direct messages, and inbox like Google and Fb do. However somewhat we have now contextual focusing on the matters inside Phaver.”
For instance, if Nike needs to do a sneaker drop inside Phaver, it begins by creating an natural submit below the sneakers matter. Then, it can buy Phaver tokens to spice up its commercial submit up inside Phaver.
This manner, the earnings generated from commercials doesn’t go to the platform homeowners’ pockets however is used to extend the Phaver token’s worth, which is able to profit all customers.
Methods to earn and lose in Phaver
The thought of rewarding those who create the most effective content material is on the heart of Phaver. The extra stakes one will get below a submit, the extra cash one’ll earn.
Nevertheless, customers who’re looking out for the most effective posts will also be rewarded as nicely. In keeping with Joonatan, customers who assist the workforce by boosting solely the most effective content material or disliking those which can be scams are additionally rewarded for his or her labor.
The platform additionally developed its mechanism to fight customers with a number of accounts, squatters, and spammers. When detected, the Phaver workforce has the authority to deduct Phaver factors from these profiles primarily based on the severity of the injury they trigger.
Sooner or later
In its early levels, Phaver primarily focuses on two primary capabilities: discovery and supporting through staking. Nevertheless, the workforce is conscious that supporting all varieties of content material in a single feed is difficult with out sacrificing the consumer expertise.
Subsequently, Joonatan says that Phaver will develop to be extra segmented. For instance, its video-based contents may turn into one thing extra like TikTok, somewhat than the present state of the app at this time. Sooner or later, Phaver goals to show right into a super-app the place it mitigates all social knowledge in a single chain.
