Pop Social has joined the Cointelegraph Accelerator.

The growth of social media has made it possible for everyone to become a content creator. And as the creative economy grows, the incentives to be a part of it shrink. Because the $100 billion market has only a handful of centralized platforms, creators aren't fairly compensated for their efforts.

YouTube, for example, recently started paying a small percentage (45%) of the ad revenue for short videos to creators. Streaming platform Spotify also took a 30% cut of ad revenue, leaving creators to share $0.003 to $0.005 per stream with rights holders and publishers.

Added to this are growing concerns about data ownership and the lack of sustainable financial models, it becomes clear that the creative economy needs to reposition itself with users and creators at its heart. As the digital landscape evolves, adopting a decentralized approach is critical to overcoming the creative economy's major challenges.

Web3 social media where users and creators come first

Pop Social, a Web3-friendly social media platform, combines SocialFi, Web3, and Artificial Intelligence (AI) to solve key content creation pain points faced by users and creators. The platform aims to eliminate the exploitation of creators by introducing a new mechanism to reward users for their participation as well, providing fair compensation to creators. To achieve this, PopSocial will diversify its revenue stream by ensuring a sustainable financial base by including AdTech revenue, Finable Token (NFT)-related revenue, Physical Stores and Open-API subscription models.

By using a unique profile ID on the chain and enabling users to bring their own IDs from other decentralized protocols, PopSocial allows for true content ownership. With AI integration, users can see personalized recommendations based on meritocracy rather than popularity. Pop Social uses AI to provide users with a more balanced experience, building a foundation for reliable information flow and preventing fake news on the platform. It aims to create a vibrant and inclusive social ecosystem with a focus on social recovery, user-controlled data privacy and transparent content moderation policies.

An integral part of Pop's social ecosystem, Pop Labs acts as a launch pad for innovation, with generative AI, creative incubators and project initiatives.

“We envision a time when social, Web3 and AI convergence will define how we interact, create and thrive in the digital world. At the heart of this vision is empowering individuals, content creators and communities in a seamlessly integrated ecosystem,” said Pop Social CEO Michael Shen.

“SocialFi should aim to create a fun and inclusive ecosystem where users, creators and communities can financially prosper while reaping the benefits of a decentralized, transparent and secure social experience.”

Cointelegraph Accelerator welcomes Pop Social as a participant in its growing list of promising projects. Web3-native social decentralized applications (DApps) challenge the $100 billion creative economy in terms of their alarming potential. Optimistic about active users and app downloads, Pop Social has a founding team of experts with extensive experience in the blockchain industry.