The limitations of Web2 technologies have become evident as concerns about fake accounts and bots on social media platforms continue to rise. To combat this issue and encourage genuine user engagement, Phaver has introduced a Web3 social app with a gamified system.
A 2018 survey revealed that parents of teenagers were increasingly alarmed by the presence of fake accounts and bots on social media, with over 65% expressing concern. The problem was further highlighted when 1,305 bot accounts were discovered on X (formerly Twitter), spreading political disinformation during a critical Republican debate and a Donald Trump interview. Additionally, Indiana University conducted research that uncovered a bot network of 1,140 ChatGPT-powered X accounts that created fake profiles by stealing images and engaged with each other using advanced artificial intelligence.
Addressing the crisis of user authenticity on traditional social networks is a challenging task. In 2022, over 47% of web traffic was generated by bots, with 30% of them being harmful. Web3, with its blockchain technology, offers a potential solution by ensuring the authenticity of every participant on a specific platform.
Phaver, a Web3 social app, aims to fight against bot accounts and incentivize users to build a reputation on social media through gamification. Similar to loyalty tiers in airline programs, Phaver implements a level system to discourage detrimental practices such as farming and multi-accounting. Users earn a credibility score, similar to status miles, which determines their level within the app. Instead of merely increasing follower numbers, Phaver’s system rewards genuine engagement and credibility building with points, comparable to reward miles. Monthly redemption based on levels further discourages abuse and promotes a healthier digital ecosystem. Users can increase their reputation by connecting various NFTs from different wallets to their Phaver profile.
Phaver enhances the user experience by offering perks for different levels, including benefits within the app and external rewards. These perks include increased Phaves (super-likes), the ability to post sponsored content, and access to partner whitelists. The mechanism also benefits early adopters, ensuring a balanced supply and demand in the market and aiding in the network’s growth.
By the end of 2023, Phaver had attracted over 100,000 wallets and connected NFTs worth more than $100 million. With the uniqueness of profiles in higher levels reaching 99.9%, the platform demonstrates its effectiveness in fostering a genuine and engaged community.
Phaver integrates with the Lens Protocol, a Web3 social graph on the Polygon blockchain, and CyberConnect, a Web3 social network, to create a decentralized social platform where users can securely store their content on-chain. These technologies allow Phaver to safeguard user data against centralized control and enable users to seamlessly move between apps without losing their content and followers.
With $7 million in funding, Phaver has gained significant traction, boasting over 250,000 unique app installs and more than 50,000 daily active users, surpassing Web2 standards in terms of retention rates. According to Phaver, users in Korea spend an average of 6 hours per week on the platform.
The rise of bot networks and the inability of traditional platforms to distinguish between genuine and artificial accounts have exposed the limitations of Web2 technologies. In response, Web3 proposes a foundational shift for social media platforms by leveraging blockchain to authenticate user identities and interactions, ultimately aiming to restore trust and authenticity in digital communities.
To learn more about Phaver, visit their website.