Author: Yinghao
Preface
SevenX Ventures is pleased to participate in the investment in UXLINK, the world's leading group-based Web3 social platform.
We believe that UXLINK starts from the first principles of social interaction and finds a delicate balance at the intersection of the essential laws of general social interaction and the core concepts of Web3.
Jon, founding partner of SevenX Ventures, said, "UXLINK has a deep insight into the real needs and pain points of Web3 users and project parties, and uses the huge leverage of acquaintances' trust relationship for the chain fission of network effects, superimposed with the inherent incentive mechanism and wealth effect of Web3, to become the group-based Web3 social platform with the fastest network expansion rate, the largest number of high-quality users, and the strongest monetization ability. At the same time, UXLINK takes openness, non-negotiability and modularity as its core concepts, and builds a convenient and easy-to-use development environment for various project parties and developers, so that project parties can deeply and target users. Highly sticky connection, in order to further consolidate the depth of the network and expand the boundaries of the network. Based on the above perspectives, we are optimistic about the asset issuance and trading capabilities nurtured by UXLINK through socialization, and become a key hub connecting Web3 infrastructure and application scenarios."
UXLINK's story, products and achievements
Achievements
UXLINK brings a new user connection method and organizational form through the "Link To Earn" acquaintance recommendation trust mechanism and the subversive "Web3 group", forming a unique protocol and data layer, which can give unique value to developers in the Web3 field. As of now, UXLINK has more than 5.7 million registered users, more than 100,000 groups, more than 1 million DAPP daily active users, and more than 300,000 daily active users on the chain. In addition, UXLINK's first quarter airdrop is in progress, and it is planned to cover 10% of the best users, more than 550,000 users.
Narrative and product
UXLINK is committed to leading an integrated social ecosystem that integrates Web3 traffic portals, social exchanges, and infrastructure.
Product Vision Diagram
Product architecture diagram
UXLINK's products are divided into three levels
Layer 1: Application Layer
It mainly includes two types of applications: UX Discover and Social DEX, which support users to discover, participate in and invest in suitable Crypto projects and assets in a social way in group scenarios, and support third-party developers to develop various applications.
Layer 2: Protocol Layer
It mainly includes social protocols based on real-world social relationships, allowing users to truly own social relationships and data, and supporting developer development. Developers can use social relationships to generate high-quality growth and personalized user services, such as AI algorithms, recommendations, and group building, just like developing mini-programs in WeChat social relationships and developing Facebook Market Place in FACEBOOK. Social data can effectively solve the data island problem that is prevalent in the Web3 world.
The third layer: Social Liquidity Layer
Under planning: It is a user-sovereign, underlying infrastructure that enables social relationships and data to be assetized and circulated, and can support users and developers to safely transfer their social assets across different public chains and Dapps.
Both the second and third layers can become unique and effective infrastructure for developers.
The essence of UXLINK in our eyes
Real social
UXLINK is a migration and deepening of real social relationships and scenarios, and it innovates them by combining the essence of Web3.
UXLINK focuses on acquaintance relationships, which is actually a simulation of the social status in the real world. In the real world, although there are one-way relationships (such as chasing stars, following, etc.), this cannot be called a "social relationship, so there is no "one-way social interaction" in the real world. Social interaction in the real world is two-way, and the subject and the object are connected by some form of intersection, which can be communication, working together or cooperation, etc.
Social networking among acquaintances is the most important form of real social networking. Most of the interactive behaviors mentioned above are completed with acquaintances in a person's life. This is because acquaintances have a trust relationship based on direct/indirect endorsement, and this trust relationship is a necessary condition for behaviors such as recommendations and transactions. At the same time, social networking among acquaintances can naturally transition from one-to-one to many-to-many, groups, etc. It is easier to evolve from a single line to a three-dimensional form, and it also has the basis for network effects.
In other social scenarios, such as stranger social networking or social media, non-acquaintance relationships can also be transformed into acquaintance relationships. Stranger social networking is a lever for acquaintance social networking to expand the network effect. The "group" scenario provided by UXLINK is very suitable for completing this transformation process.
The core technology of acquaintance social networking is frequency and density. If we look closely at the DAU and MAU ratios of global social products, we will find that the top ones are WhtasAPP, Facebook and Instagram. These products are all focused on acquaintance social networking. The more acquaintances there are, the higher the frequency of use. High-frequency scenarios can even drive low-frequency scenarios.
Based on these thoughts, when we deduce the proposition of "what kind of social product will be established", we will find that UXLINK's two paths can respond to this question well. The first is to follow the trend, that is, to make social interaction in the real world online, and to create unique interactive forms and functions through special online organizational forms. In this regard, TG is currently a subset of WeChat (WeChat also has functions such as Moments & Video Accounts), but the group functions are exactly the same. The second is to create new scenarios, such as matching, puzzles, dating, etc. The answer given by UXLINK is: it provides all the scenarios needed to play Web3.
Trust Network
Based on the nature of real social interaction, the underlying layer of UXLINK is actually a data production machine.
UXLINK has formed several types of data through the mining and migration of real social relationships: acquaintances-acquaintances, acquaintances-strangers; people-groups, people-networks, people-projects, people-assets, and higher-order data with more complex cross-references on top of these types of metadata. In the first stage, data is generated as metadata through the above-mentioned types of network nodes. In the second stage, metadata itself has the ability to recreate data, that is, the self-growth of data itself.
In a non-closed-loop social network, the core experience of users is largely determined by data, that is, what kind of objects users interact with, what kind of information they obtain, what kind of assets are distributed and recommended, etc. The data returned by users after interaction will further optimize the data model. Therefore, UXLINK's data machine can maximize the core experience of users in existing scenarios.
Based on the huge and high-quality data, UXLINK's network will gradually grow from an acquaintance network to a trust network.
In a scenario of heavy assets and financial activities, users' trust in the relationship network is very important. Trust brings a sense of security, which makes users choose to stay in the network and continue to interact with the network: make money once, twice, and three times, and users will always choose UXLINK. UNLINK breeds an endogenous "confidence" in the acquaintance network and continuously increases the threshold of this confidence. In the long run, users will have great loyalty to UXLINK.
After forming a trust network, UXLINK provides users and developers with a high-confidence picking mechanism. The main scenario of UXLINK is to bridge users and various project parties with diversified token incentive models. Users are afraid of being "cut leeks" or "reverse wool" by project parties, and project parties are also afraid of obtaining a large number of fake users and low-quality users. We have to admit that many current token incentive models have strong Ponzi properties. For this reason, UXLINK has realized the separation and coupling of the trust network and the Ponzi economy, using a high-confidence network to undertake Ponzi, providing the greatest mutual trust environment for users and projects.
Assets and Finance
After this round of bull market, one of the clear signs given by the industry is that one of the core footholds of Web3 is the "silent" penetration of assets and finance, as well as the catalysis of fragmented speculation, gaming and profit-making behaviors. In other words: assets and finance are the battlegrounds for Web3 applications, and any application must be deeply conceived around assets, finance and users.
On the asset side, UXLINK has three levels of imagination space.
First, the transaction of existing assets is activated. For the first time, acquaintance relationships are established on a large scale in Web3, which is a "new relationship". Combining UXLINK's full set of tools (such as UX Growth) and its transformation of TG native scenarios (such as Social DEX), UXLINK has fully activated the transaction of existing assets and increased the frequency of asset turnover through the three handles of new relationships, new scenarios and new tools.
The second is the issuance and circulation of new assets. There are two levels of asset promotion by massive projects. The first is the number of assets, and the second is the type of assets. In this bull market, we have seen a wide range of new assets, not only new narratives and hot spots, but also new standards such as inscriptions, runes, and coins. As a network rooted in TG, UXLINK can perfectly undertake the issuance of new assets, allowing various projects to drive operations at different stages of their life cycle through assets. UXLINK has increased the flow rate of assets through the three links of new assets, new channels, and new operations.
The third is the inclusiveness of assets. As mentioned above, UXLINK does not restrict the types of assets, and its trading scenarios can occur outside the scenarios. Therefore, UXLINK can carry different types of assets such as tokens, NFTs, and even points, lowering the threshold for asset access.
On the financial side, in addition to the above-mentioned asset transactions, behavioral earning is also an important dimension of UXLINK's imagination space. Users interact with different objects in the UXLINK ecosystem, which can be called "interaction" or "contribution". Users continue to contribute their social relationships, their attention, their trust, and their data. The core scenario of UXLINK is to financialize contributions, so that users become the actual beneficiaries of contribution behavior, rather than the platform itself.
It is worth mentioning that after the attributes of assets and finance are consolidated, economies of scale are needed as a lever to amplify them, and the flip side of network effect happens to be economies of scale. The asset efficiency brought by UXLINK's acquaintance network is, to some extent, much higher than that of marketplaces and even exchanges. We look forward to this day.
Connector
As the name suggests, UXLINK is also a super connector, playing the role of a hub in two closed loops.
The first is a small closed loop, namely user-product-developer. UXLINK has effectively linked these three through its product stack, meeting the underlying real needs of users and developers, and continuously consolidating to form a healthy user-product community.
The second is the big closed loop, namely infrastructure-traffic-application. UXLINK has the potential to effectively close the two major camps of Web3: infrastructure and applications through traffic through its three-layer structure of Layer/chain-Protocal/protocol-Dapp/application combined with an invisible trust network.
As the Web3 market seems a bit “fragmented” today, we expect UXLINK to become the glue and connector of the industry through these two levels of closed loops.
UXLINK's advantages and potential
S-level team and first principles
UXLINK is a typical configuration of an S-level founder leading an S-level team. The team has been in the Internet industry for several years and has extremely solid experience in production research, growth, operation and financing, and has operated social products with more than 100 million users. After embracing Web3, the team has demonstrated amazing iteration capabilities: not only has it quickly learned the concepts, technical frameworks and token economy of Web3, but it has also found a new positioning and entry angle for UXLINK without being limited by the exploration of pioneers. At the same time, the team continues to release strong execution and resource integration capabilities, and can deliver products, implement large-scale campaigns and connect with massive cooperation in a short period of time, all of which stems from the team's sufficient front-line entrepreneurial experience.
Another advantage of the UXLINK team is that everything starts from the first principles and has a strong independent thinking ability. When the team conceives each product feature, it starts from the actual user needs, and then appropriately looks for the connection point with Web3, avoiding the lack of PMF caused by false needs.
Establishment of core resources and monopoly potential
The network of acquaintance relationships is a core resource in any new paradigm of the Internet scenario, and Web3 also has the opportunity to reshape it.
A person will feel uncomfortable if he doesn't check WeChat for five minutes, and a Web3 practitioner will feel anxious if he doesn't check TG for half an hour. This is because our threshold for acquaintance relationships has been raised to the peak by the mobile Internet. As long as we lose contact with the acquaintance network for a short time, we will have a serious withdrawal reaction. When the acquaintance network is formed, individuals have no right to choose to join or leave this network - as long as they leave this network, they will face being abandoned. This is the objective monopoly of the acquaintance network.
As the first Web3 social product that deeply cultivates acquaintance relationships, UXLINK is building an acquaintance network at a very fast speed and has achieved a phased lead. It can be imagined that if UXLINK is the builder of the Web3 acquaintance network, it will have the potential to monopolize this core resource.
The objective monopoly of the acquaintance network will be further extended to the right to define scenarios and price resources: the main scenarios attached to this network will be portrayed by UXLINK; any commercial circulation in this network will also be priced by it, because the demand and stickiness of suppliers, demanders and users for this network will become stronger and stronger.
On the other hand, products with first-mover advantage will also have an objective monopoly on users’ minds and habits to a certain extent, especially when UXLINK adds a wealth effect based on acquaintance relationships. Users will gradually feel that they can continue to participate in good projects, invest in good projects, and make money in the UXLINK ecosystem, and project owners will gradually find that they can quickly and efficiently promote activities, acquire users, and distribute assets in the UXLINK ecosystem.
Self-reinforcing acquaintance networks and brands
Let's review Metcalfe's Law again: The more users a network has, the greater the value of the entire network and each user in the network. That is, the value of a network is equal to the square of the number of nodes in the network, and the value of the network is proportional to the square of the number of users connected to the network.
This is the charm of social networks - it has a continuous positive self-reinforcement effect. However, this positive self-reinforcement effect requires the network to reach a certain density and break through the "critical point". At present, we cannot conclude whether UXLINK has broken through this social network critical point, but there is no doubt that it is rapidly approaching this critical point.
The same thing is happening on the brand side. UXLINK is continuously strengthening its "quality assurance" in the minds of users and project owners through in-depth cooperation with the best project owners in the industry and using the most scientific methods to select high-quality real users, thus achieving self-enhancement of brand power.
When the Web3 application pendulum swings to the midpoint
From the perspective of industry observation, the Web3 industry has been exploring large-scale applications for many years. If we borrow the "pendulum theory", the pendulum of application developers has been swinging between "halalism" and "pragmatism".
The developers of the "halal school" take the original concept of Web3/blockchain/cryptocurrency as the development program, emphasizing the values of decentralization as much as possible, maximum on-chain, data ownership, and no need for deployment. On this basis, they broke the application development framework of many Web2 eras and created a batch of halal applications. The other side of halal applications is that they are completely from the perspective of developers, which leads to the PMF of such applications always being in a situation where there is rice but no cooking. In addition to participating in incentive activities, users are not interested in its practical value. But the application is ultimately used by users rather than developers, which is the problem faced by the halal school.
"Pragmatic" developers often regard "What exactly does blockchain/cryptocurrency bring to this type of application?" as the most important question in the development conception stage. Many pragmatic developers will choose "innovative token incentive model" as the answer to this question. But when developers focus most of their attention on the token incentive model, many applications become a mechanical combination of "Web2 application + token". At the same time, users' attention is also attracted by the single point of token incentive, making this type of application a Ponzi scheme, and it is difficult to maintain vitality after the economic model is under pressure and projects with greater return potential emerge.
In contrast, UXLINK adopts the narrative context and product concept of "holding two and using the middle", which has stronger scalability and unlimited ceiling. UXLINK not only stands from the perspective of developers, integrating development concepts such as decentralization, non-deployable, and modularization into its protocol system, creating a highly free and extremely smooth development environment for developers; it also stands from the perspective of users, not only providing users with the use scenario of Web3 native acquaintance social networking, but also allowing users to fully enjoy the two layers of incentives: native incentives within the UXLINK application and exogenous incentives from massive cooperation projects.
It is this kind of "middle" value that makes UXLINK scarce and finds a flexible area between "halal" and "pragmatic", allowing developers and users to intersect in a more harmonious way and explore the real and feasible path for large-scale applications through the method of "doing, using and experiencing".
