The shortcomings of Web2 technologies have led to growing concerns about the prevalence of fake accounts and bots on social media platforms. To combat this issue, Phaver has introduced a Web3 social app that incorporates gamification to deter botting and incentivize genuine user engagement.
A survey conducted in 2018 revealed that over 65% of parents of teenagers were alarmed by the presence of fake accounts and bots on social media. The problem was further highlighted when 1,305 bot accounts on X (formerly Twitter) were discovered, spreading political disinformation during a critical Republican debate and a Donald Trump interview. Additionally, Indiana University uncovered a bot network of 1,140 ChatGPT-powered X accounts that created fake profiles by stealing images and interacted with each other using advanced artificial intelligence (AI).
Addressing the crisis of user authenticity on traditional social networks is a challenging task. In 2022, over 47% of web traffic was generated by bots, with 30% of them being harmful. Web3, with its blockchain technology, offers potential solutions to ensure the authenticity of participants on a specific platform.
Phaver, a Web3 social app, has introduced a gamified approach to combat bot accounts and encourage users to establish a reputation on social media. Similar to loyalty tiers in airline programs, Phaver implements a level system to discourage detrimental practices such as farming and multi-accounting. Users accumulate a credibility score, similar to status miles, which determines their level within the app. Phaver’s system penalizes harmful behaviors and rewards genuine engagement and credibility building with points, comparable to reward miles, instead of focusing solely on follower numbers. Monthly redemption based on levels further discourages abuse and promotes a healthier digital ecosystem. Users can enhance their reputation by connecting various NFTs from different wallets to their Phaver profile.
The platform enhances the user experience by offering perks for different levels, including in-app benefits like increased Phaves (similar to super-likes) and the ability to post sponsored content, as well as external rewards like access to partner whitelists. Phaver’s mechanism also provides benefits to early adopters, ensuring a balanced supply-demand in the market and aiding the network’s growth.
By the end of 2023, Phaver’s innovative system had attracted over 100,000 wallets, connecting NFTs worth more than $100 million. With nearly 99.9% uniqueness of profiles in higher levels, the platform demonstrates its effectiveness in fostering a genuine and engaged community.
Phaver integrates with the Lens Protocol, a Web3 social graph on the Polygon blockchain, and CyberConnect, a Web3 social network, to create a decentralized social platform where users can securely store their content on-chain. By leveraging these technologies, Phaver safeguards user data against centralized control and allows users to seamlessly transition between apps without losing their content and followers.
The platform has raised $7 million in funding and has gained significant traction, with over 250,000 unique app installs and more than 50,000 daily active users. Retention rates surpass Web2 standards, and users in Korea spend an average of 6 hours per week on the platform.
The rise of bot networks and the inability of traditional platforms to differentiate between genuine and artificial accounts have highlighted the limitations of Web2 technologies. In response, the emergence of Web3 proposes a fundamental shift for social media platforms, utilizing blockchain to authenticate user identities and interactions in order to restore trust and authenticity in digital communities.
To learn more about Phaver, visit their website.
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