III.6 AZC SocialFi
Last updated
Last updated
According to a research report by Crypto.com in early 2024, the estimated number of cryptocurrency users worldwide increased to 580 million in 2023, a 34% rise from 432 million in January 2023 to 580 million in December 2023.
According to Statista, the number of cryptocurrency users could rise to nearly 833 million in 2024 and reach around 992 million by 2028. The Web3 community predominantly still uses traditional social software such as Twitter, Telegram, and even WeChat.
Web3 SocialFi: Emerged to Address the issues of traditional social media such as Unequal revenue sharing, users lacking ownership rights to their data and content, lack of content tracking mechanisms, etc.
However, Web3 SocialFi still has many limitations in terms of scale and quality. Currently, the market value of leading SocialFi tokens is only $6.2 billion (according to Coingecko), accounting for about 0.22% of the total cryptocurrency market value, significantly lower than mainstream trends such as GameFi and NFTs. At the same time, there is no standout or superior application in the SocialFi field yet, and it is still in its early stages.
Few SocialFi projects have launched tokens and completed the project's business model. Projects with "social tokens" have not yet fully realized the utility of the token to provide financial benefits to users and creators, reducing motivation and encouragement for users. Or the user experience on SocialFi still has many limitations.
AZC Social is a decentralized social networking platform for investors, where users can freely express themselves without control or dependence on third parties. By using the Social Graph protocol, similar to Farcaster, combined with blockchain technologies and tools, AZCoiner provides an environment that allows users to interact with various social networks effortlessly.
AZCoiner's goal is to address the challenge of creating a robust support platform for a crypto investor right within this social network. Instead of merely exchanging information, images, and messages, users can now quickly perform transactions or connect to DApps most easily without needing to use too much software or other tools. It serves as a bridge between the familiar web2 world and the potential-filled web3 world through three prominent features:
AZAccount: An advanced multi-chain account system that perfectly complies with the ERC-4337 standard on "Account Abstraction." With AZAccount, you will use a unified, flexible multi-chain account system to experience the new decentralized world.
AZPencil: A combination of social media activities and decentralized finance (DeFi) within the Web3 space. SocialFi projects aim to harness the power of social networks to drive engagement and interaction with DeFi protocols, allowing users to participate in DeFi activities through social platforms. This promotes personal freedom, enabling you to create unique imprints without any limitations.
AZSubs: The Subscription feature allows content creators to monetize their content and connections.
With these pillars, AZC Social brings true decentralized connectivity, extending the vision to an entirely new social network where creativity knows no boundaries.
