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Top Web3 Social Media Companies Moving into 2023

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Top Web3 Social Media Companies Moving into 2023

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Bringing social media to the Web3 technology stack aims to empower users and brands alike. Numerous projects and companies are building their “web3 social media” hubs, although there are different approaches. Moreover, the technology can shake up the concept of content consumption and offer big improvements. 

Project Liberty (Polkadot)

The technology industry has become a playground for billionaires in recent years. However, Frank McCourt aims to do things differently by building the Project Liberty venture. McCourt acknowledges Web2 social media has many shortcomings, including data privacy and user manipulation concerns. McCourt’s next objective is building an open-source and publicly-owned infrastructure, and he taps Polkadot to do so. The network is deemed “adaptable for social networking”.

The current plan is to launch Project Liberty as a parachain, although it may evolve into something bigger eventually. There will also be a native token for the social ecosystem, primarily used for managing stable bandwidth resources for messaging and other platform functions. Project Liberty has received a $150 million commitment from McCourt, and a clear three-year roadmap.

However, it is crucial to note the billionaire is not the project CEO. Nor are there shareholders with profitability expectations and requirements. Instead, the project revolves around community effort, aided by experts from various fields.

Snapmuse.io

The Snapmuse.io team intends to rewrite the rules of engagement for content consumers and fans. Fans can become partners with their favourite content creator channels. Creators can “mint” part of their channels to build stronger community ties and forge new partnerships.

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Fans can collect NFTs to become channel partners and NFT holders can gain discounted SMX tokens based on the channel’s monthly ad revenue. It strengthens ties between fans and creators while aligning monetary options that benefit everyone.

In addition, Snapmuse.io comes with a royalty-free music catalogue. That will significantly benefit YouTubers, as using royalty-free music is always a tricky endeavour. Having more resources at one’s disposal is a good thing.

Taki (Solana)

Taki positions itself as a Web3-powered social network to create better communities. Users are rewarded with a stake in the network for being active on the platform and helping it grow. Moreover, TAKI tokens serve daily rewards for doing things one would do on other social platforms, including liking posts, commenting, etc. It is an engage-to-earn social network where free speech and movement are encouraged.

The Taki network is open to anyone who looks for a place where community engagement is the priority rather than an exception. Whether one likes to share, create, or comment, the option to earn $TAKI tokens is always there. Users can convert those assets to User Coins to represent the value and influence of content creators. In addition, these rewards can be shared with other users to grow audiences and further decentralize project ownership.

Binance Feed

Binance is the leading global cryptocurrency exchange and bets on educating more people about all crypto matters. Its Binance Feed solution provides access to Web3 and crypto news and notes over 1 million daily users since its launch in October 2022. Moreover, the platform is home to hundreds of content creators. As a community-first platform, Binance Feed wants to help content creators, influencers, and thought leaders to share their expertise and insights.

Moreover, the feed has a “learning” mechanism to provide users with content that aligns with their interests. Every click on a topic is meaningful and will help the Feed recommend other content to the user. Some users even consider it a better experience than finding crypto news on Twitter, as it has more active users in this specific industry. Moreover, creating content is straightforward, and engaging with readers is crucial. A solid example of what Web3 is all about.


Disclaimer: The ‘Crypto Cable’ section features insights by crypto industry players and is not part of ZyCrypto’s editorial content. ZyCrypto does not endorse any company or project on this page. Readers should conduct their own independent research before taking any actions related to the company, product, or project mentioned in this piece.


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BitPay Announces Partnership With MoonPay – Bitcoin Magazine

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Bitcoin And Artificial Intelligence Frees Your Time - Bitcoin Magazine


BitPay and MoonPay, leading bitcoin and cryptocurrency payments infrastructure providers, have partnered “to provide BitPay users with significantly increased ways to buy cryptocurrency instantly, and at great rates.”

“BitPay’s unique marketplace experience also presents multiple rates for buyers, ensuring they receive the best possible price for their cryptocurrency purchases,” the press release states. “Additional benefits of the integration include fast delivery to any owned wallet address, as well as the ability for buyers to pay with their preferred method, including credit card, debit card, Apple Pay, Google Pay or a variety of local bank transfer methods.”


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Why Real Regulatory Change In Crypto Has Not Happened

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Why Real Regulatory Change In Crypto Has Not Happened



Legislators need to educate themselves on Web3 if they care about protecting consumers, Steven Eisenhauer, chief risk and compliance officer at Ramp, writes.


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South Korea to deploy cryptocurrency tracking system in 2023

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South Korea to deploy cryptocurrency tracking system in 2023


The Ministry of Justice in South Korea announced plans to introduce a crypto-tracking system to counter money laundering initiatives and recover funds linked to criminal activities.

The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance, according to local media outlet khgames.

While the system is slated to be deployed in the first half of 2023, the South Korean ministry shared plans to develop an independent tracking and analysis system in the second half of the year. A rough translation of the ministry’s statement reads:

“In response to the sophistication of crime, we will improve the forensic infrastructure (infrastructure). We will build a criminal justice system that meets international standards (global standards).”

The South Korean police previously established an agreement with five local crypto exchanges to cooperate in criminal investigations and ultimately create a safe trading environment for crypto investors.

Related: South Korean prosecutors request arrest warrant for Bithumb owner: Report

The South Korean Supreme Court ruled that crypto exchange Bithumb must pay damages to investors over a 1.5-hour service outage on Nov. 12, 2017.

The finalized ruling from the supreme court ordered damages ranging from as little as $6 to around $6,400 be paid to the 132 investors involved.

“The burden or the cost of technological failures should be shouldered by the service operator, not [the] service users who pay commission for the service,” the court stated.


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