As artificial intelligence (AI) continues to advance, it presents both opportunities and challenges in the realm of social media. On one hand, the integration of AI into social media analytics has revolutionized how businesses engage with their audiences, allowing for more personalized content. In fact, 97% of surveyed business leaders agree that AI and machine learning will greatly enhance companies’ ability to analyze social media data and insights more efficiently.
On the other hand, AI also brings new risks, such as the creation of sophisticated bots and the rapid spread of disinformation. A study reveals that on X (formerly Twitter), fake news spreads six times faster than real content, with 70% of users unable to differentiate between real and fake news. Facebook, for example, deleted 6.5 billion fake accounts in 2021 and took action against 691 million fake accounts in the fourth quarter of 2023.
While the issue of authenticity remains a significant challenge in traditional social networks, AI-powered bots continue to be a pervasive problem across the internet. Research indicates that over 49% of web traffic in 2023 was generated by bot activities, with 32% being malicious bots.
In response to the rise of fake social identities and AI-based bot challenges, Web3 offers a promising environment powered by blockchain technology. It aims to create more secure and reliable online communities by decentralizing networks and increasing user control and integrity. This vision of the future involves digital interactions that are both empowering and safe.
One social app that embodies this sustainable and ethical interaction model is Phaver. Designed for the permissionless and noncustodial ecosystem of Web3, Phaver addresses the persistent issues of fake messages and identities. It allows users to cultivate their reputations within and across decentralized social networks, rewarding them with off-chain points for each constructive contribution.
Founded by industry veterans Joonatan Lintala and Tomi Fyrqvist, who have previously worked at Google, Facebook, Goldman Sachs, and Alibaba, Phaver offers a social interaction model that is sustainable and ethical. The duo aims to rebuild the broken social ecosystem from the ground up by prioritizing user ownership and interoperability through Web3 technology.
Phaver leverages the Lens Protocol, created by the decentralized finance (DeFi) platform Aave, to enable users to own their social relationships and interactions through nonfungible tokens (NFTs). Lens Protocol serves as a decentralized social graph that allows creators to have ownership over their content as NFTs.
In addition to Lens, Phaver supports other decentralized social graphs such as Farcaster, MocaID, and CyberConnect. By integrating these social graphs, Phaver enhances social connections, making them more secure and permanent while improving user control and enabling interoperability.
Phaver aims to provide a seamless transition to Web3 social interaction. The platform offers a simple introduction to its features, allowing users to register without needing a crypto wallet. They can sign up using a traditional email or Web2 login, making it accessible to those new to Web3 technology. Once registered, users can create a Phaver profile without requiring any blockchain knowledge. For users with a Lens profile, Phaver offers easy integration during the registration process.
Within the Phaver app, users have the freedom to personalize their experience. They can subscribe to various interests or follow other participants. If no specific selection is made, the feed defaults to showing the latest popular content, allowing new users to discover exciting discussions and content.
To enhance users’ personalized experience further, Phaver incorporates a unique reward system called Cred. Users can connect one or more wallets and start earning Creds and points based on their activity on the platform and the eligible NFTs they own. The Cred score measures users’ reputation within the platform, taking into account their contributions and interactions. Users with higher Cred scores hold greater influence and trustworthiness within the community, which encourages positive engagement and discourages malicious behavior.
To combat AI manipulations and the creation of fake content, Phaver has implemented the Anima proof-of-personhood. This feature stores each user’s unique privacy-safe facial print in their wallet, allowing them to claim a unique NFT that proves their uniqueness.
Phaver also offers advanced features such as purchasing points and participating in gamified social experiences for more meaningful engagement. These features not only reward creators but also allow stakeholders to earn rewards if the promoted posts become popular.
Since its inception, Phaver has gained impressive traction, with 300,000 unique app installs, 50,000 weekly active users, and $150 million in connected NFT value on Phaver Cred. This data reflects the platform’s ability to retain users, as seen in South Korea, where users spend an average of six hours per week on Phaver.
To expand its reach, Phaver has formed partnerships with notable organizations such as Lotte Group’s NFT arm in Korea and The Smurfs, both of which are exploring and expanding their presence in the Web3 space.
Phaver is set to solidify its position in the Web3 social media landscape through strategic initiatives. The platform plans to improve multi-protocol integration by adding support for additional decentralized social graphs such as CyberConnect and Farcaster. It also aims to transform the onboarding process for new users with a Web2 background by making points available for purchase as in-app transactions, simplifying entry into the Web3 space.
Furthermore, Phaver will continue to develop its proprietary trust score and expand it to cover a wider range of social metrics. Additionally, the platform is exploring the introduction of NFT-gated topics that will bring together select NFT holders for exclusive discussions and networking opportunities.
Phaver envisions a future where users can freely engage in decentralized social networks without fear of encountering AI-generated content or bots. By implementing innovations such as the Anima proof-of-personhood platform and Cred scores, the platform aims to mitigate the risks posed by AI threats and foster a more authentic and trustworthy online experience.
Supporting user-centered platforms that prioritize security, authenticity, and community participation will contribute to the development of the crypto and Web3 ecosystem. As Web3 technologies continue to evolve, more authentic and secure interactions will become possible.
To learn more about Phaver and its innovative approach to decentralized social media, visit their official website.