??Web3 redefining social media subscription services

gm Web3 explorers,

What we're seeing right now, is a shift in the way social media and gated fan content is being used. The rise of blockchain powered social media platforms has been on-going for almost a year, but hit a peak with the release of FriendTech in August. This sparked a variety of copycats to hit the market, all providing a fresh take on the way social media and financial incentives collide.

In the past week PostTech launched on The Arbitrum Foundation , while Star Shares just hit the Avalanche ecosystem.

What do these social media platforms do?

Similar to platforms like Patreon and OnlyFans, these Web3-powered social media platforms make users part of a gated community of followers. By holding a share or a key for a certain account, users get access to private keys. These keys can be traded on the open market, and prices go up when demand increases. Content creators earn from the trading fees surrounding their keys.

Read more in our elaborate guide into the Rise of SocialFi. ????

?? The Latest Web3 News You Must Know

? Binance and CEO CZ ask court to dismiss the lawsuit by the SEC, as reported by Cointelegraph. If accepted, this could mean a boost for the BNB ecosystem.?

?? The developers of the Web3 game Pirate Nation will move towards free-to-play and got $33 million in funding to build fully on-chain games. Decrypt reported that studio Proof of Play plans to open-source its tools.

?? PancakeSwap integrates Transak, allowing users to directly buy crypto using a creditcard. DappRadar offers a similar service btw, log in and find it in your account options.?

?? Chainlink Labs now works on Arbitrum One, helping developers to create cross-chain dapps.?

?? Binance plans to delist all stablecoins in Europe, in order to comply with the crypto regulatory framework MiCA. According the report by Cointelegraph this should happen before June 2024.

?? Optimism Foundation has sold $160 million to 7 investors in a private sale. That's $159 million, and there's a 2-year lock-up.?

?? Receive Alerts based on blockchain metrics

The team at DappRadar is excited to introduce custom alerts that allow users to receive notifications based on a change in metrics in the product categories or blockchain ecosystems they choose.?

?? Start creating your own Alerts

?? Biggest winners of the week

1. This week we've seen the rise of health platform GOQii - which also has its own wearable fitness band and a mobile app.
2. The SKALE Network had huge success with 5tars and Sportsfly
3. While MailZero on Info zkSync combines social elements with airdrop hunters, attracting +243% more wallets in the past week.