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Vision Network Mobile APP
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The decentralised Substack and Medium
Inspiration
- Issues with Traditional Social Media
Traditional social media's algorithm recommendation mechanisms based on advertising revenue models generally cater to the general trends for content, making it challenging to satisfy users with niche content preferences. The content is greatly restricted by click-through rate, playback volume, and forwarding volume. In addition, traditional social media is limited in the way creators are rewarded. As a result, the income of most creators is far less than the value they provide, and less than the platform receives. As a service provider, traditional social media not only captures the data generated by users but also obtains revenue through data analysis for accurate advertising recommendations. Thus, conventional social media determines what users see based on its advertising revenue rather than the public interest. As producers and providers of data, users cannot profit from the production and provision of data and are constantly deprived of the value of centralized platforms. In addition, major social media platforms completely dominate the market and can ban content providers, users, and advertisers.
- The Global Epidemic Has Accelerated the Development of the Creator Economy
The socio-economic changes triggered by the COVID-19 epidemic have created a boom for the creator economy. Social isolation has caused many content experience forms that initially relied on live performances as a source of income to experience an unprecedented renaissance. The epidemic has also spawned a boom in the "SOHO economy" for content creation. People have been forced to move online with diverse and robust content needs because it is challenging to participate in offline gatherings, such as exhibitions and performances. As a result, it has become a tremendous driving force for the development of the creator economy.
- Social Token's Value
Social tokens reshape the relationship between creators and fans and the profit distribution model between the platform and creators. Due to the change in the distribution model, creators will receive almost all of the income from content creation, strengthening the connection between creators and fans. This could incite more creative passion in the creators and increase their desire to provide more value in their content. The fans who buy creators' social tokens will be aligned with the creator as they support them to produce more content. When fans buy a creator's token, they are supporting them to provide more quality content which should help get more fans to purchase the token. The value of the token will increase as more fans purchase it, resulting in value for all of the fans. People who believe in someone's potential can buy their token and succeed with them financially when that person realizes their potential. Moreover, traders can profit by trading the tokens through the ups and downs and providing liquidity. The most direct form of monetization for creators' is fans paying for content using social tokens. Fans also can encourage creators by rewarding creators' content. In addition, by holding or paying with the creator's social token, a fan can comment on the creator's content produced or send a private message to the creator. Additionally, holding or paying with the creator's social token allows creators to participate in online or offline gatherings. Content monetization provides a creator's token with value support. Various quantifiable values and difficult-to-quantify values will be reflected through the market value of the social tokens. For creators with potential and high fan recognition, fans will actively provide liquidity to increase the price of social tokens. For shoddy creators, liquidity may be withdrawn, and the price of social tokens will plummet. The social token can be used as a tool for community operations, building a bridge for interaction between creators and fans. Fans can support content creators by purchasing the creator's social token. Creators can also use "airdrops" to directly give back to fans. At the same time, creators who are not well-known can airdrop their social tokens for marketing. Holding a creator's social token will passively maintain a fan's attention to the creator, thereby supporting high-quality creators to engage their community continuously. In addition, new creators now have a new tool for obtaining recognition quickly.
What it does
The Vision Network is building the next generation of social media and its underlying infrastructure through the Vision Network social token Mintlab, exchange, CMS, and Vision.Fan mobile APP.
How we built it
- Vision Social Token Mintlab
The Vision Network is being developed on the Solana blockchain. The Vision Social Token Mintlab allows creators, brand owners, or communities to easily mint their social token, facilitating a self-sufficient creator economy. With the Vision Network's easy-to-use social token Mintlab, creators can choose between numerous functions to seamlessly deploy new SPL social token contracts on the Solana blockchain. In addition, the Vision social token Mintlab provides a simple way to ensure vesting periods are adhered to.
- Vision Social Token Exchange
The Vision Social Token Exchange is based on Serum. The Vision Social Token Exchange allows fans to purchase the creator's social token through an initial distribution and trade it on the free market spontaneously immediately after being issued. This is conducive to discovering prices in the secondary market through free trading and capturing the value generated. Vision Content Management System The Vision Content Management System (VCMS) is a cloud-based platform content management system. VCMS streamlines complex workflows so creators can deliver up-to-the-minute content across platforms with lightning-fast speed. All content created on VCMS will be uploaded to distributed storage on multiple public nodes of Arweave permanently with complete ownership by the creator. In addition to all conventional content management tools, creators can set requirements for access to their content via VCMS. For example, only those who hold a certain amount of VISION or pay for VISION can access the content. In addition, the creator can also set an amount of VISION required to comment to ensure the quality of comments.
- Vision.Fan
Vision.Fan is an open platform where deeper connections forged between audiences and creators can lead to discovery and growth. With the Vision.Fan platform, creators can share insights with their audiences, and audiences can explore creators' more profound thoughts and Vision and provide value to the creators via their social token. Audiences can follow their favorite creators in the mobile application, view the content of each creator, and like, reward, and forward the content they like. In addition, users can manage their social tokens in the mobile application, check their market prices, and trade their social tokens in future versions of the Vision.Fan App, creators will be able to manage their social token, content, and community.
Challenges we ran into
As Serum is based on web-end, we need to translate the Typescript to Native Dart Language.
Accomplishments that we're proud of
- Finished the Vision Network website.
- Finished the Mobile-end APP demo to help the user read, trade, deposit, and withdraw Social tokens.
What we learned
a comprehensive understanding of Social tokens and the creator economy Next-generation social media is:
- built, operated, and owned directly by users and communities
- open-source with decentralized and permissionless protocols
- censorship-resistant
- empowering as users have complete control over their data
- free to use, freely accessible, and creators do not belong to any platform
- simplified with a unified identity authentication system
- a comprehensive economic system based on social tokens
What's next for Vision Network
The Vision Network is an entirely decentralized social protocol built on the Solana blockchain. Based on the scalability of both the Vision Network and Solana, the Vision Network encourages more developers to build more social applications based on the existing infrastructure and work together to build the next generation of social media. The Vision Network's content includes decentralized social applications that can be created like photos (Instagram), audio (podcasts), video (YouTube), live broadcast (Twitch). Vertical decentralized social applications that can be created include NFTs, art, photography, music, fitness, games, events, and DeFi applications. In addition, developers can build more content creation and management tools based on the existing infrastructure of the Vision Network to support creators and build more community management tools to serve the community.
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