Phaver is a decentralized social media platform that integrates Web3 technologies, allowing users to take control of their content and data. This platform is designed to empower users by ensuring that they own their posts and can earn rewards for their contributions, distinguishing itself from traditional social media models where corporations typically retain ownership of user-generated content

I had the chance to speak with CEO Joonatan Lintala and Ecosystem CFO Tomi Fyrqvist of Phaver, a decentralized social media platform that integrates Web3 technologies, allowing users to take control of their content and data. We spoke about what Phaver is, how it’s integrating social graphs like Lens and Farcaster, the steps it takes to make blockchain-based apps mainstream-friendly, a comparison of Web2 and Web3 social media, including the benefits of ownership that comes with Web3, user onboarding strategies, and moderation considerations.

I found their goals to be ambitious, but realistic. Their approach to social media was neither stridently crypto-native and libertarian nor a Web2 app with window dressing.

Phaver and other Web3 socialfi projects are trying to do to social media what defi apps are doing to traditional finance. Just like in the case of defi, it is only with blockchain technology that the flaws of Web2 social media companies can finally be redressed

One important lever available to Web3, but not Web2, is a token. The $SOCIAL token in the case of Phaver. Token-based incentives via mechanisms like airdrops can help reward users that contribute to a healthy, vibrant, and valuable social network. Instead of the overwhelming majority of the value accruing to the company, Web3 projects can easily make sure the individuals who bring value to the social network are appropriately rewarded.

Phaver is launching Season 2 of its airdrop, where everyone gets a minimum 20% of the $SOCIAL average connected to the app. The token can also be used to boost your post back to the top of the feed for more visibility and Phaves.

The interview contains other ways Phaver is trying to engender good behavior amongst participants without stifling creativity. Some things not mentioned, but coming soon in the app are tipping, paid private communities, boosting comment visibility, plus many ways to earn and unlock new experiences. There will be opt-in Web3 ads that presumably pay a portion of proceeds to users, and gasless in-app wallets. The last is crucial to get users who have no familiarity with crypto in the door.

I believe fixing social media is the hardest and most important task in tech. The inability for Web2 companies to address the problems of their products shows that in all likelihood the limitation is technological. The phrase, “crypto fixes that” is often thrown around ironically, but I think is resoundingly true in this case.