The Future of SocialFi in Web3.0

In the 21st century, social media has become a truly important part of our society. From the birth of MySpace to the advent of Facebook, Twitter, to the lifestyle-focused Instagram. All of this is part of the craze brought on by Web 2.0, and the introduction of these platforms has highlighted many of the problems that Web 3.0 could take over very well. Web 3.0 will change the paradigm of social media and online content.

The social media model of Web 2.0 is premised on accumulating vast amounts of data of users, so that only a few companies (e.g. Meta) control the market, and the latter can use this data for advertising revenue. However, the users of these platforms themselves do not benefit from the data they generate. Decentralized networks will have the potential to change this balance of power.

In the Web 3.0 scenario, the network will be owned by the community rather than by a centralized institution. Governance of the platform, the setting of rules and the general operation of the platform will go back to the users, and a larger share of the potential profits will also go back to the users. And within a decentralized platform, someone's value, and ultimately their activity can largely determine their identity as well as the value they generate on the platform.

As a digital ledger, the role of the blockchain is essential. Users' profiles will be placed in their own Web 3.0 application, which can be used on any decentralized platforms. The cross-platform integration is called metaverse, and everything or transactions a user makes will also be stored on the blockchain for transparency and security.

What is FreeCity?

FreeCity is a consensus metaverse built on blockchain technology and based on 3D virtual images and virtual cities. With the vision of replacing real social with digital social, it is a future city where social influence will be transformed from the crowd-based to the financialized and the tokenized.

The concept of "Play-to-Earn" in the era of GameFi 1.0 requires ongoing activity for specific applications, which are often created by the original developers. FreeCity wants to find a way to reward and incentivize all types of activity on internet computers.

"Engagement-to-Earn" Mode

FreeCity pioneered the "Engagement-to-Earn" model, which enriches the metaverse social scene to the greatest extent, allows assets to earn passive income for their owners, and maintains economic operation with more in-game consumption. Through social consensus ecology and rich game play, consensus is quickly established, and more entertainment methods and usage scenarios are integrated. Thus finally a flywheel effect is formed.

In this free city, social networking is the core, and 3D avatars, financial lands, financial microphones and NFT marketplace are the tools for players to show their social value. FreeCity's vision is to treat the social value of players as the "hash power" of the platform. Players who show their social value will generate governance tokens of the platform for governance, customization and casting of the entire city. FCC is FreeCity's governance token, with a total supply of 10,000,000,000. FCC holders can stake their tokens, play games and participate in related governance votes, and they will be rewarded. What’s more, players can earn FCC by playing various games and completing various tasks in FreeCity.

Core Gameplay

The financial microphone is a demonstration of the social value of players in FreeCity. The higher the quality of the NFT microphone, the more followers of the player. The microphone fully combines the concepts of GameFi and SocialFi, and interprets the core of the entire platform about "earn".

FreeCity players configure NFTs for themselves in the form of microphones, and join diversified voice rooms in urban buildings to show their social value through voice chat. So that they can gain recognition from others and generate token rewards. Different quality microphones correspond to different social statuses. All the efforts of players are to have more followers and create greater social value to increase their income. Anyone can create their own value on the platform.

Brand-new Paradigm Shift

FreeCity learned lessons and avoided the short-term capital operation mode of GameFi 1.0. A reasonable and efficient benign economic model will promote the long-term development of the entire metaverse ecology, improve user stickiness, and focus on fun by designing a metaverse application ecology with innovative functions. The system provides users with a high-end experience, allowing users to obtain pleasure and satisfaction in the process of participating, so as to achieve the dual purpose of economic benefits and spiritual satisfaction.

The vision of FreeCity is not limited to games or social interaction, but to become a metaverse world full of infinite reverie. To this end, we will further improve the construction of DeFi and NFT infrastructure, and gradually form a closed-loop full-ecological product covering NFT, Defi and metaverse such as games, NFT, DEX, and DAO governance. Everyone can participate in all aspects of the metaverse ecology and enjoy everything. It is conceivable that this is a brand new model.

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