🦌Huobi Incubator Weekly Idea Pool🦌
Our views on Web3 Social Landscape

We believe that the existing SocialFi projects are still in the early stages of development, which have not formed a sustainable paradigm or a clear model for the future.

Here is why and where to improve:🧵

1). If SocialFi solely relies on tokenomics and packaging for a transformation of Web2 social, it cannot compete effectively with traditional giant social operators.

2). In other words, it needs to tap more into Web3 native user characteristics and user needs. Which means solving the problems of “messaging” and “relationship building” based on “Web3 identity” from the perspective of products.

3). Now we will dive down into the first principal of things to see what are out there and what can we do:
1⃣Web3 Identity 🐵
2⃣Messaging 📳
3⃣Relationship Building 👯

4). 1⃣ Web3 Identity 🐵

The prerequisite for a stable and long journey is concrete infrastructure, and more projects are exploring the creation of Web3 identities to carve out a user base with real social needs. The creation of an identity diagram consists of two aspects:

① Data Parsing
Traditional social products collects user habits from scratch; however, Web3 on-chain data is a public resource for everyone (e.g., transaction data, NFTs that recognize identity or personal taste) to carve out user profiles and establish identifiable identities.

② Identity Aggregation
Data parsing forced projects to build their competitive edge elsewhere. It can come from establish more accurate and dimensional user portrait through aggregating data from multiple chains, addresses, and even under chains, with user's will & approval.

5). 2⃣Messaging 📳
There are two types of messaging:

① Broad/non-specified messaging which relies primarily on social media to attract public attention and communication by posting content (text, graphics, video).

② Specified messaging where messages are sent with a specified address or class of addresses. The main scenarios are: NFT OTC transactions, hacker bargaining, and project airdrops.

6.1) 3⃣Relationship Building 👯
When individuals build connections, they establish social relationships which can be strong, weak or temporary in nature. Web2 applications connect users through platforms, and it is difficult to extract monetary benefits from weak connections;