The existence of the internet has changed the approach with which individuals and organizations transmit information across the globe. This spans reading news on your Twitter app instead of paying to receive the daily paper at your doorstep. Another change is how we communicate with our friends across the globe. With an instant messaging app like WhatsApp, you are a click away from seeing your friends.
As much as this significant change has benefitted humankind, we are left with a new concern. This concern is peaking daily because individuals give free access to their data in exchange for their need to leverage the internet. You can summarize this new concern as a power monopoly.
It is no news that there is a low entry barrier before you can be part of the internet. What is more significant is that big corporations now have dominance over your existence in the digital world. Social media networks are becoming an authority, and users don’t mind sharing their information to be a part of the community. This explains that the platforms are free, but a price is attached to using them.
Right now, the world is facing a paradigm shift in using social media platforms by the creators’ community. This shift makes it easy for creators to earn a decent living from content and content distribution across various platforms. This will reduce the cut rates and grant creators absolute control over their intellectual and digital assets. As a result, users will have complete control over their monetization setup.
All of these are Web 3.0 possibilities. Web 3.0 makes it easy for creators to withhold the right to own information, crypto and present them with decentralized transaction opportunities. This approach might look astonishing for internet users, but it is more significant than the internet in its capacity.
To make this a reality for internet users, companies such as PIP are creating a bridge that allows the incorporation of Web 3.0 functions to traditional social media networks. This project will execute this task via the use of a browser extension. The bridge will save the cost of creating new infrastructure for a newly-launched cryptocurrency.
As a result, you won’t have a tough time buying and selling non-fungible tokens (NFTs) on Twitter or Twitch. This project has the support of top leading investors in the industry. This includes Alameda Research, Galaxy Digital Hong Kong, amongst others.
New Path for Information Delivery
PIP comes into the picture as an internet layer for Web 3.0. This makes it easy for users’ websites to have built-on applications on their websites. And this causes the activation of three significant pillars on this foundation. The first pillar allows values’ transactions. That is, you can transact assets, currencies, and other digital values.
As an effort to distinguish this feature, it has a term known as “social pay.” With this feature, you can directly send coins to a creator via social media platforms they have been using before. This payment button will show on their profile or the post they make. There will be an increased promotion for online transactions via social media platforms, a feature missing for a while for small and medium business owners.
The peak of this development is the ability of non-PIP users to send funds and allow anyone to claim their tokens.
The PIP’s second pillar links social identity to virtual currency possession via the PIP bio, one of their future releases. This social identity tree will certify users and their interactions across social media platforms. As a result, you will determine if you can trust their engagements. Likewise, you can upload digital assets for display on your profile via PIP NFT.
The third pillar, the final pillar, serves as an empowering tool that allows individual creators to capitalize on their content and earn money on the web. This system will enable creators to establish a whole microeconomy to obtain royalties from their works in the whole sales process.
Another solution that is an application of PIP is the ability of users to use a crypto debit card to spend digital coins like Solana (SOL) tokens at their favorite stores. This can happen offline and online regardless of location.
Evenly Distribution of Web 3.0 Around the Social World
The progress of PIP is a revelation of possibilities within the Web 3.0 space. But their progress should not be restricted to a specific social media space. They are working on extending this development to support other social media platforms such as Facebook, LinkedIn, Medium, and YouTube.
Likewise, they propose adding more tokens and creating a community token issued by authenticated social media accounts. The reality of Web 3.0 across social media platforms is inbound. This makes its adoption and mainstream leverage an essential endeavor.
