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- DeSo app is a social ecosystem designed for the next iteration of the internet.
- The company joined forces with MetaMask to offer end-to-end communication for users.
- Social media sector is expected to become over 60 Billion USD industry by 2026.
Emerging Social Media Player in The Market?
Social media sector has overshadowed almost all the industries around the globe. Why? They can enhance the online presence of any brand on the internet. With the web3 development happening at a faster pace around the globe, web2 operations will make a massive shift on its successive layer. DeSo app is a social platform designed for the next iteration of the internet.
The decentralized social platform is the perfect mix of web3 and social media concepts. It is not a complex smart contract website like Ethereum blockchain. Prime focus of the service is to kick the central social media players out of the game to create a user-owned space.
DeSo app has joined forces with the most popular crypto wallet in the space, MetaMask, to provide end to end communication services to the users. In simple terms, a Compound protocol user can send a message to a UniSwap user — that too without gas fees — creating interoperability among the ecosystems.
Interoperability will play a vital role in web3 and metaverse development. Digital worlds must have this feature to carry their virtual assets from one space to another. Otherwise, the sector will become a space containing myriads of “walled gardens” for users.
Though DeSo comes with an interesting concept, folks should not forget the titans roaming this industry. Let us take a look at some interesting metrics concerning social media. According to a 2021 report, there are around 4.55 Billion users on social media platforms. 84% of the US population is using at least 1 social media application on their devices. Meanwhile the figure comes down to 57.6% in terms of global population.
Facebook, Whatsapp, YouTube and Instagram remain the fan favorite social media platforms. FB has a global user base of 2.89 Billion followed by YouTube (2.29 Billion), Whatsapp (2 Billion), and LinkedIn (800 Million). However, YT remains the most used application in the United States with 84% of the citizens utilizing the video streaming service followed by FB (69%), Insta (40%), Pinterest (31%), and Whatsapp (23%).
Considering the stats, it becomes crystal clear that DeSo has a difficult trail ahead. Surely web3 will revolutionize the world, but to dominate the social media mammoths like Facebook (now Meta) is a tough nut to crack.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
