What Are Decentralised Social Networks?

Social media is undergoing a major transformation with decentralised networks like Farcaster, Lens Protocol, and Bluesky challenging giants like Meta and LinkedIn. Built on blockchain, these Web3-driven platforms empower users with greater control over data, freedom of expression, and even platform governance.

What Are Decentralised Social Networks?

Decentralized social networks operate on blockchain, where control is distributed across users rather than centralized under a single corporation. Users maintain ownership of their profiles, data, and connections. Examples include:

• Farcaster: Built on Ethereum, where users post and engage without a central authority controlling their data.
• Lens Protocol: Also on Ethereum, it lets developers build social applications with a shared, user-owned base, fostering a diverse ecosystem.

Key Features

1. User Ownership: Users control their own profiles, posts, and followers.
2. Interoperability: Users can move their profiles and connections across platforms in the decentralised network.
3. Privacy: Data is stored on decentralised networks, minimising data breaches and misuse.
4. Freedom of Expression: Community-driven moderation offers a more open environment for discussion.

Decentralised vs. Centralised Networks

• Data Control & Privacy: Centralised platforms (like Meta) control user data, often selling it to advertisers. Decentralised networks, however, let users control and even monetise their data.
• Censorship & Moderation: Centralised networks moderate with internal policies, while decentralised platforms often have transparent, community-driven moderation.
• Revenue Models: Traditional platforms monetise via ads without user benefit. Decentralised networks allow users to earn rewards and possibly a share of ad revenue.
• Interoperability: Centralized users are “locked in,” while decentralized users can take their data and identity across compatible platforms.

Opportunities for Web3 Advertisers

1. Transparency and Trust: Blockchain’s transparency lets users see exactly who is advertising to them, fostering trust.
2. Token-Based Rewards: Advertisers can use tokens to directly incentivise user engagement, building loyalty and creating value.
3. Consent-Driven Targeting: Advertisers can target specific communities or interests without massive data collection, relying on context and user choice.
4. NFT Campaigns: NFTs offer unique engagement opportunities, with brands using digital collectibles or exclusive access as incentives.
5. Community Engagement: Advertisers can connect directly with niche communities, aligning with specific user interests or supporting community events.

The Future of Decentralised Social Networks and Advertising

• User-Centric Models: With more user control and platform participation, these networks prioritise users over corporate agendas.
• Integration with Web3: Decentralised networks are part of the broader Web3 ecosystem, enabling cross-platform experiences and digital asset management.
• Transparent Advertising: As user privacy concerns grow, transparent, consensual advertising models with rewards could become the norm.
• Cross-Platform Interoperability: Users will likely be able to move seamlessly across decentralized apps, expanding their social and professional reach.
• Hybrid Models: Major platforms might integrate blockchain-based features, adding user control over data and token-based rewards within centralised networks.

Conclusion

Decentralised social networks bring a user-centric, privacy-focused approach to social media. For Web3 advertisers, they offer unique opportunities to engage users in a transparent, value-driven way. As decentralised platforms grow, they may reshape social media into a space that prioritises user rights, community, and trust. The shift is underway, and its impact on both users and brands could transform the social media landscape as we know it.