Phaver: A Web3 Social App Combatting Fake Accounts and Bots
The prevalence of fake accounts and bots on social media platforms has become a growing concern, exposing the limitations of Web2 technologies. In response to this issue, Phaver has introduced a Web3 social app that incorporates a gamified system to tackle botting and incentivize genuine user engagement.
A survey conducted in 2018 revealed that over 65% of parents with teenagers are alarmed by the presence of fake accounts and bots on social media. The extent of the problem was further highlighted when 1,305 bot accounts on X (formerly Twitter) were discovered spreading political disinformation during a critical Republican debate and a Donald Trump interview. Additionally, Indiana University’s research uncovered a bot network of 1,140 ChatGPT-powered X accounts that created fake profiles by stealing images and engaged with each other using advanced artificial intelligence (AI).
Addressing the issue of bots and fake accounts on traditional social networks is a challenging task. In 2022, over 47% of web traffic was generated by bots, with 30% of them being harmful bots. Web3, with its blockchain technology, offers potential solutions to ensure the authenticity of participants on specific platforms.
Phaver, a Web3 social app, has introduced a gamified approach to combat bot accounts and encourage users to establish a reputation on social media. By implementing a level system similar to loyalty tiers in airline programs, Phaver aims to discourage detrimental practices such as farming and multi-accounting that are currently prevalent in the social media landscape.
Users accumulate a credibility score, similar to earning status miles, which determines their level within the app. Phaver’s system penalizes harmful behaviors and rewards genuine engagement and credibility-building with points, comparable to reward miles, instead of simply focusing on increasing follower numbers. Monthly redemption based on levels further discourages abuse and promotes a healthier digital ecosystem. Users can enhance their reputation by connecting various NFTs from different wallets to their Phaver profile.
In addition to these features, Phaver offers perks for different levels, including benefits within the app such as increased Phaves (similar to super-likes) and the ability to post sponsored content. External rewards, such as access to partner whitelists, are also provided. The platform aims to maintain a balanced supply-demand in the market and offers benefits to early adopters to support its network’s growth.
By the end of 2023, Phaver’s innovative system had attracted over 100,000 wallets, connecting NFTs worth more than $100 million. The uniqueness of profiles in higher levels reached 99.9%, demonstrating the platform’s effectiveness in fostering a genuine and engaged community.
Phaver has integrated with the Lens Protocol, a Web3 social graph on the Polygon blockchain, and CyberConnect, a Web3 social network, to create a decentralized social platform where users can securely store their content on-chain. By leveraging these technologies, Phaver safeguards user data against centralized control and enables seamless movement between apps without losing content and followers.
With $7 million in funding, Phaver has garnered significant traction, boasting over 250,000 unique app installs and more than 50,000 daily active users, surpassing Web2 standards in terms of retention rates. Users in Korea, in particular, spend an average of 6 hours per week on the platform.
The rise of bot networks and the inability of traditional platforms to distinguish between genuine and artificial accounts have shed light on the limitations of Web2 technologies. In response, Web3 offers a foundational shift for social media platforms, utilizing blockchain to authenticate user identities and interactions, ultimately aiming to restore trust and authenticity in digital communities.
To learn more about Phaver, visit their website.
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