Decentralised Social Platform Comparison: Which is the best D’App to Use? Boom, Monaco Planet and Showme NFT

For many years, social media has played an important role in many individuals’ daily lives. It became a way of how people share and keep up with the latest information with the outside world. Web 2.0 Social Media Companies such as Meta (previously Facebook), Instagram, and Twitter became a means of communication for people and it creates a wide range of impact to people when information is shared on social media.

However, social media can be a dangerous tool when users have less ownership of their data and misinformation. Big corporations are able to manipulate people’s behaviour or emotions by utilising data given by the users. With the recent incident with Facebook selling user data to Cambridge Analytica to influence the United States election and the suspension of Donald Trump’s Twitter Account may lead us to wonder about the safety of these Web 2.0 social platforms. Users’ data and privacy is not protected while companies are generating a massive return from the advertiser.

With the importance of users’ data and misinformation, which led to a spark of an emerging trend which we called Decentralised Social Network, also known as federated networks. Decentralised social networks operate on independently run servers, rather than being on a centralised server’s own business. Users have complete control over their data thanks to blockchain technology, which allows data entries to be kept on servers all over the world. The following article introduces some of the core Decentralised Social platforms in the Web 3.0 Industry within each category and the pros and cons that users might encounter.

BOOM –  Decentralised Metaverse Socialising Platform

Designed as a metaverse socialising platform, Boom is a decentralised socialfi platform that aims to create a space for crypto lovers and enthusiasts. The main function of the D’app is by allowing users and creators to create an account to browse through the latest news and share opinions about the current insight of the cryptocurrency market. Users are able to browse through the latest news by whales and key opinion leaders, and creators could share the latest insights on their accounts privately or publicly. With the most unique function, Boom creators are able to display their NFT or Digital tokens on their profile as they wish. While users browse through content or information created by KOL or Whales they are able to verify the credibility based on the asset they own.

Boom Pros

• Boom allows the NFT & Digital Token display (ERC20 & USDT) function  
• Boom recently released a $1M Creator Fund campaign to provide better quality support for content creators
• Boom Future Giveaway / Airdrops – Boom is releasing their official NFT expected to be released in mid-April 202.
• Boom application is available on AppStore and Google Play Store, Desktop version is expected to be launched in March 2022
• Boom is releasing more functions in their future roadmap such as Multi-Chain Wallet, Create to Earn, Decentralised Data and Storage, Ranking System, Airdrop, Connect with Web 3.0 Media

Boom Cons

• Boom users are currently unable to upload videos
• Boom communities are mostly cryptocurrency-related, and other topics might not receive higher views or engagement
• Boom platform is still in a development stage

Monaco Planet – Write to Earn Social Platform

Designed as a Write-to-Earn social platform, Monaco Planet is a socialfi platform under the Solana Network that aims to provide equal benefits to its users. Their goal is to build a high-frequency social activities platform that allows users to interact with each other. The main features of Monaco Plant include Wallet Login and Content Sharing. Users could register and participate in the Monaco Planet social fi platform by logging in through their Cryptocurrency wallets such as Metamask, Wallet Connect, Ledger, and Rainbow. What is unique about Monaco Planet is their write to earn Model, instead of earning the profits from the advisors on their own, the profits are distributed among the community. The ownership and governance of this project are governed by the community members themselves striving to develop a DAO community. Active content writers and discussion partners on Monaco Plant are rewarded by the app native token which is $MONA. To participate users have to stake $MONA Tokens to join the write-to-earn model.

Monaco Pros

• Monaco provides users a Write-to-Earn Model, allowing users to earn fees from advisors
• Monaco users could register account through Crypto Wallet
• Monaco released a 100 KOL NFT for KOL that contributes to building Monaco social fi platform
• Monaco released 10k Yacht NFT for its users

Monaco Cons

• Monaco is currently available on Web Version only
• Monaco Planet is in a development stage
• Monaco is unable to display digital token assets

Show Me – NFT Social Subscription Platform

Designed as a Cryptocurrency club creation platform,  Show me NFT is an NFT social subscription platform built on Web 3.0. It allows anyone to create and operate a Cryptocurrency club without permission. The main function of Showme NFT includes subscription, Membership level, and NAAS model. Users are able to set the requirements of the club such as Free subscription, paid subscription, or NFT Holder of certain projects. The platform also supports various functions such as NFT sales, exchange of rights, content, goods, and service. Creators are able to personalise their community and engage with their community with the rules they have created. Each member in the community is verified through an NFT membership card to avoid spam and scams.

Show Me Pros

• Show Me subscriptions are available in Multichain Wallet 
• Show Me NFT Membership function to avoid scams and spams
• Show Me Customizable Club Creation, Flexible rules creation
• Show Me Gift Away and Airdrops

Show Me Cons

• Show me is available on Web Version only
• Show me is currently in a development stage
• Show Me users are unable to explore clubs, and a domain link has to be shared to join clubs

Based on the comparison above, we can see different Decentralised Social Platforms showcase various functions which are unique towards the support for the Cryptocurrency community. It is important for users to identify their needs and select the best option in their community building and content creation journey. With more projects developing into Decentralised Social Field such as Boom, Monaco Planet and Show Me, we can see that it creates unlimited possibilities where Defi Social Platforms are heading to, keeping user’s data safe while enjoying the interaction between communities.