'Discussing the Future of Social Media: An Interview with Taki Co-Founder, Kevin Chou ' by dan_jgs blockchain socialmedia
However, even after two decades of social media reign, there is no real way for users to benefit from the value they generate for the platform. This is the major drawback of social media today. In this regard, we’ve recently had a conversation with Kevin Chou, the co-founder of the next-generation social media platform. He gave us an insight into the future of social media and how it is poised to become user-centric.
As we built out Rally, we started to think more deeply about SocialFinance or SocialFi. We realized that the concept of social tokens could be applied to great effect within social networks. Within our web3 venture studio, SuperLayer, I joined forces with co-founder Sakina Arsiwala and built Taki which is a new-age social media platform with an engage-to-earn model.
SocialFi tilts this dynamic to ensure that users and creators get the maximum share of the value generated. Platforms achieve this by integrating cryptocurrencies and NFTs at the core of their operations. For instance, if you are a course creator, you could incentivize users with social tokens every time they refer someone to your program. They in turn could use these tokens to get access to your special masterclass or an exclusive mentorship session.
Additionally, everydayusers can earn on these platforms by simply engaging and participating in the network. This is because user engagement creates value for the platform and SocialFi platforms redistribute this value to its users. It’s called the engage-to-earn model.
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