As artificial intelligence (AI) continues to advance, it presents both opportunities and challenges, especially in the realm of social media. On one hand, AI integration into social media analytics has revolutionized how businesses interact with their audiences, allowing for more personalized content. A survey of business leaders reveals that 97% believe that AI and machine learning will greatly enhance companies’ ability to analyze social media data and insights more efficiently.
On the other hand, AI also brings new risks, including the creation of sophisticated bots and the spread of disinformation. A study shows that on X (formerly Twitter), fake news spreads six times faster than real content, with 70% of users unable to differentiate between real and fake news. Facebook is an even more striking example, as it deleted 6.5 billion fake accounts in 2021 and took action against 691 million fake accounts in the fourth quarter of 2023.
While authenticity remains a major challenge in traditional social networks, AI-powered bots continue to be a problem across the internet. Research indicates that over 49% of web traffic in 2023 came from bot activities, with 32% being classified as bad bots.
In response to the issues of fake social identities and AI-based bot challenges, Web3 offers a promising solution. Web3, powered by blockchain technology, aims to create more secure and reliable online communities. Decentralized networks have the potential to increase user control and integrity, paving the way for a future where digital interactions are empowering and safe.
One such Web3 social app is Phaver. Designed for the permissionless and noncustodial ecosystem, Phaver tackles the persistent problems of fake messages and identities. The platform allows users to build their reputations within decentralized social networks, rewarding them with off-chain points for constructive contributions. Founded by industry veterans Joonatan Lintala and Tomi Fyrqvist, who have worked for companies like Google, Facebook, Goldman Sachs, and Alibaba, Phaver offers a sustainable and ethical social interaction model. Their focus on user ownership and interoperability through Web3 technology aims to fix the broken social ecosystem from the ground up.
Phaver leverages the Lens Protocol, created by decentralized finance (DeFi) platform Aave, to enable users to own their social relationships and interactions through nonfungible tokens (NFTs). Lens Protocol serves as a decentralized social graph that allows creators to own their content as NFTs. In addition to Lens, Phaver supports other decentralized social graphs such as Farcaster, MocaID, and CyberConnect. These supporting social graphs enhance social connections, making them more secure and permanent by improving user control and enabling interoperability.
Phaver aims to make the transition to Web3 social interaction seamless. Users can easily register for the platform without needing a crypto wallet. They can sign up using a traditional email or Web2 login, making it accessible to newcomers to Web3 technology. Once registered, users can create a Phaver profile without requiring any blockchain knowledge. For those with a Lens profile, integrating it with Phaver is a straightforward process.
Within the Phaver app, users have the freedom to personalize their experience. They can subscribe to various interests or follow other participants. If no specific selection is made, the feed defaults to displaying the latest popular content, allowing new users to discover exciting discussions and content.
To enhance users’ personalized experience, Phaver incorporates a unique reward system called Cred. Users can connect their wallets and earn Creds and points based on their activity on the platform and the eligible NFTs they own. The score measures users’ reputation within the platform, considering their contributions and interactions. Users with higher Cred scores have greater influence and trustworthiness within the community, fostering positive engagement and discouraging malicious behavior.
To combat AI manipulations and the creation of fake content, Phaver introduces the Anima proof-of-personhood. This feature stores each user’s unique privacy-safe facial print in their wallet, allowing participants to claim a unique NFT that proves their uniqueness.
Phaver also offers advanced features like purchasing points and participating in gamified social experiences for more meaningful engagement. These features reward creators and allow stakeholders to earn rewards if the promoted posts gain popularity.
Phaver’s ability to keep users engaged is evident in its achievements thus far. It has reached 300,000 unique app installs, 50,000 weekly active users, and $150 million in connected NFT value on Phaver Cred. Users in South Korea spend an average of six hours a week on Phaver, highlighting the platform’s ability to captivate and retain users.
Phaver has formed partnerships that enhance its platform and expand its reach. Collaborations with Lotte Group’s NFT arm in Korea and The Smurfs demonstrate their commitment to exploring and expanding their Web3 footprint.
Phaver is poised to solidify its position in the Web3 social media space through strategic initiatives. It plans to improve multi-protocol integration by adding support for additional decentralized social graphs like CyberConnect and Farcaster. The platform is also working on transforming the onboarding process for users with a Web2 background by making points available for purchase as in-app transactions, simplifying entry into the Web3 space.
Furthermore, Phaver aims to develop its proprietary trust score further and expand it to cover a wider range of social metrics. The platform is also exploring the introduction of NFT-gated topics that will bring together select NFT holders for exclusive discussions and networking opportunities.
Phaver envisions a future where users can freely engage in decentralized social networks without fear of encountering AI-generated content or bots. By implementing innovations like the Anima proof-of-personhood platform and Cred scores, the platform aims to mitigate the risks posed by AI threats and foster a more authentic and trustworthy online experience.
Supporting user-centered platforms that prioritize security, authenticity, and community participation will contribute to the development of the crypto and Web3 ecosystem. As Web3 technologies continue to evolve, more authentic and secure interactions will become possible.
To learn more about Phaver and its offerings, visit their website.