Showtime - The Web3 Alternative For Instagram

Heard about data breaches by Facebook? Are you worried that the owner of Instagram might also secretly read all your posts? If asked, ‘How many of you are on social media?’, most of you reading this blog might say, ‘yes.’ For those planning to say ‘no,’ just because social media is a distraction, you also miss out on a lot of information. Social media platforms are a way to connect with people, share your views, and spread awareness about the happenings.

So for people who consider that social media is distracting, ideally, all nations should have banned it, right? Well, since they have not, and the number of social media platforms we use today is increasing, it would be wiser to discuss how the ill effects of social media can be removed. If our readers are wondering, ‘What has Flint got to do with social media and its ill effects? It should focus only on providing content related to cryptocurrencies and the development of Web 3.0.” To all such readers, we promise that it won’t be a waste of time as you will discover a new development in Web 3.0 as we progress.

How is Web 3.0 revolutionizing the social media landscape?

So what is the unique feature of Web 3.0? For people who are not familiar with the space, the answer is ‘decentralization.’ Yes, that’s right. Web 3.0 has been revolutionizing most digital spaces by making them decentralized, i.e., no single organization or entity completely controls the functionality of the network. 

Ever wondered if decentralization could be applied to social media platforms as well? Why is no particular person had complete control over our data? Would that be more secure? You surely would not be getting random promotion messages on Facebook after you search for an item on Amazon. 

Even though Web 2.0 gave us several excellent social media platforms, such as Facebook, Twitter, Instagram, etc., most users' major issue was their data privacy. As most of these platforms were controlled by for-profit organizations, they would collect user data and exploit them to widen the scope of their marketing strategies. The entire concept of digital marketing emerges from this issue where companies earn revenue by compromising their user data to provide them for branding purposes to other firms.

Sounds wrong, right? But this is the fact of Web 2.0, and as every modification tries to improve upon its previous version, so is the case with Web 3.0. It ultimately secures your data as it works on a blockchain-based network. 

Web 3.0 wallets and NFTs

Curious about how Web 3.0 might be securing your user data? Like cryptocurrencies, Web 3.0 social media networks function based on a peer-to-peer blockchain-based network. All user activity is recorded via blockchain and stored in their Web 3.0 wallet. These activities can be claimed for rewards via tokens. The tokens, in turn, could be redeemed for NFTs or other cryptocurrencies. NFTs are non-fungible tokens, and these can not be exchanged for similar things like crypto tokens and coins. It gives NFT holders the security of owning their digital assets without the fear of being replicated and put into use without their consent.

These tokens can also be utilized for voting rights in government proposals on DAO. DAO stands for Decentralized Autonomous Organization and is a blockchain-based organization governed by native crypto tokens.

Showtime

Now that we have a fair idea about Web 3.0 social networks, it would be easier for us to understand what Showtime is. It is also a Web 3.0 social network where collectors and creators can exhibit and share their NFTs. To use the platform, you need to connect your wallet. You can scroll through the various art pieces shown by creators on the platform (similar to the user interface of Instagram) under different genres. Once you click on a particular display, you can see similar creations of the specific artist. As of the time of writing this blog, it is available only over the Web but will soon be available for iOS and Android users. 

We will keep you updated as these developments are made available and the steps to log in with the platform. Till then, stay curious, and keep learning!