FaceDAO is a Web 3.0 decentralized platform where people can create and join decentralized communities and interact with 100% real people worldwide. The next-generation social media platform built on the blockchain provides a trusted and open environment to its users. The platform profoundly respects the freedom of expression and ensures that only genuine information and content is shared, it offers highly innovative and distinctive features for social networks. The most exciting thing is it is free to use and easy to set up.
Web 3.0 vision is to create a highly secure, high-performance, and censorship-resistant decentralized communication network by combining network security, network sharing, and blockchain technologies. Web 3.0 known as the bottom-up revolution is very profitable.
Social media platforms, considered the next big thing in the cryptocurrency universe, are at the crossroads of many emerging trends like decentralized autonomous organizations (DAOs). Social tokens are a type of cryptocurrency that a brand and community can use to monetize themselves beyond the typical means, they have better incentives than just conventional ‘reward points’ schemes. Since social tokens are built over blockchain, it is impossible for fraudulent transactions when it comes to token ownership. This will help brands create an ecosystem for their businesses where only genuine fans or consumers are expected to participate in transactional experiences.
With FaceDAO, the content creators bring forward a new principle of ownership in the digital economy. These tokens are decentralized and secured by blockchain. Community tokens are created as a means to gain access to a community. These are similar to membership cards but based on the blockchain.
Benefits of FaceDAO
At the same time, due to the uniqueness of the face, it also eliminates the following two risks for users:
- Risk of multiple trumpets registered by the same person. There is no need to worry about encountering the flood of fake users, and there is no need to worry about scientists grabbing benefits through multiple accounts. The one-to-one correspondence between accounts and faces generated by blockchain technology forms a strong binding relationship.
- The risk of platforms or hackers selling user accounts for profit. The immutable nature of blockchain technology combined with the unique correspondence between faces and real people has greatly increased the cost of account theft, and the success rate of account recovery is extremely high, making account theft no longer profitable, consolidating account security.
In general, FaceDAO wants to replace wallets and account passwords with IDs and become the only credentials for users to browse Web3, to realize the essential goal of Web3 returning data and value to users.
Users and FaceDAO: How to Benefit?
In the simplest language, FaceDAO belongs to the category of “social mining”. All social behaviors, such as posting, liking, and being followed, can be rewarded with tokens. The economic model is integrated with social behaviors.
The FaceDAO governance token $FACE is issued on Ethereum, with a total circulation of 1000 trillion. Among them, 90% of $FACE will be used for community building, rewarding users’ positive behavior, airdrops, community task rewards, providing liquidity in DEX, maintaining the sustainable development of the platform ecosystem, etc. The remaining 10% will be used to provide infrastructure, servers, and engineering costs.
Unlike the common Web2 experience of “watching video XX time to get gold coins”, FaceDAO incorporates all positive social behaviors that users can generate on the platform into the scope of revenue, and each interaction will automatically get its token $FACE reward. At the same time, FaceDAO has also set up the following revenue methods:
- Administrator role: You can obtain corresponding rewards by managing and maintaining the order of the platform.
- Invitation mechanism: Invite new users to join to get rewards.
- Task reward: obtained by completing the community maintenance tasks issued by the administrator.
- Passive mining mechanism in the form of display advertisements: advertising spaces can be set up on the platform or even on personal homepages, and users can choose whether to post or not, and the advertising revenue will be distributed to all $FACE holders according to the holding ratio of $FACE.
At present, $FACE has not yet obtained effective value discovery, and it is still in the anticipation stage.
What makes social tokens like FaceDAO valuable?
Social tokens, as digital assets, are already starting to play a crucial role in the creator ecosystem with widespread adoption among crypto artists and celebrities. We are currently witnessing an explosion of different kinds of experiments. As the technology undergoes continuous evolution, social tokens will be accepted by larger communities, such as large publishers or online communities built around products or brands. Moreover, they have massive potential to redefine the way companies can generate targeted business opportunities. Building a decentralized and secure ecosystem that caters to only their genuine customers or fans will ultimately result in long-term growth prospects that directly influence the value of their respective tokens.
The pillars of a well-functioning community; professional, social, geographic, or otherwise are a strong understanding of the needs of the members that comprise it, a sense of collective ownership, and either implicit or explicit benefits for contributing to its construction and/or maintenance. Incentives for being part of communities are highly diverse.
Still, ultimately, it’s a means of leveraging the power of groups of people working together to produce a surplus of benefits that members can draw from as needed. We’ve all benefited from “community” it’s a core tenet of our school systems, sports leagues, affinity groups, religious affiliations, social services; it’s weaved into the fabric of our entire society. The benefits each member receives are never entirely equal, but it’s sort of like social insurance that we all want to have, and we’re fine with the slippage. We chalk it up to sort of a ‘societal safety net’.
The community was never really defined by financial gain. Of course, there are fees to join certain communities. But once inside, there typically isn’t an expectation that you’ll be paid for your contributions. However, as we speak, blockchain systems are being built and optimized to provide the ultimate incentive to participants of a community—quantifiable value.