The co-founder of the Solana project shared his stance on the Non Fungible tokens-based concept and explained how it will play a vital role to advance social media platforms.
Solana is a popular crypto project, which is known for its ability to facilitate high scale blockchain transactions with the use of Proof-of-concept Consensus. Due to the high scale transaction speed and efficiency of the network, many Defi and NFTs projects are trying to go with the Solana only. Recently Unstoppable Domains shifted its Ethereum network-based NFTs operations of buy-sell Domain names to the Solana network, to bring low-cost NFTs domain transactions.
Recently Anatoly Yakovenko, co-founder of the Solana project, appeared in an interview with the Business Insider. In the interview, he said that the current situation of NFTs concept use cases is a prototype of what the future of Social media will look like.
According to Anatoly, NFTs are just only part of collections of data and can be used in different ways. The most important thing that we have seen in the NFTs is to connect people globally. And this is what we have the same thing with Social media networks.
Further, Anatoly said that true social media will not rely on any third-party platform to work properly. He added:
“I think these are the early starts of true web social networks that do not rely on ads for monetization, that don’t rely on Google or Facebook to function.”
Anatoly also said that social media will monetize itself, without any need for external market sources.
“They are purely these digital communities that can monetize/self-monetize from their content without the need of any of these external poison marketplaces.”
Probably, here Anatoly tried to explain that Solana and NFTs will do much better in the future to bring a new revolution in the social media networks. But it will be interesting to see how the social media platforms will integrate real use cases of NFTs and blockchain to make decentralized social media platforms.
Past records showed that Discord-like platforms are not getting support from their own community user base to integrate crypto and blockchain-related services. Then how we can imagine that the Social media world will adopt these new things easily.
Read also: WikiLeaks grts more than $2.2 Million Worth of Donations in Crypto
