Web3 Social: Will Web3 Make or Break Social Media - TOKEN2049 Singapore 2022

good afternoon everyone my name is Adrian founder of Newman capital so new in capital we are a full stack VC they invest in early stage web free projects from zip round to round a we have our own marketing team product team Tech Team growth team to help our portfolios to accelerate it at a very earlier stage so the topic today is about does web free make or break social media as you guys all know ShoSho is a very important growth stage for web for web 2 companies and it propels a lot of companies from a small company to a billion dollars unicorn in web free I talked to a lot of people and many mentioned me that social is too early it's too early for anyone to invest in for anyone to build a company on but we Newman invest in tomorrow we don't invest in today so I'm gonna talk to you about what social is it's a very high level content and I hope you guys have some takeaways after this presentation so we'll go through some of the problems in web 2 social uh why we need web free social what existing what is the existing landscape opportunities and what is Newman looking for as a company to invest in this space what we're looking for in Social so first of all web team show is slowing down I'm not saying we are not using web 2 social I think everyone here might use Twitter Instagram Facebook and whatnot but it's slowing down for sure and why is that it's because of us as we grow and more become more mature and the economy become more digital it requires more than just social we want security we want privacy and we want data to ex to be exportable and importable in different platforms so in short I think we are facing or meeting a bottleneck in web 2 social that's some of the components or some of the fundamental Technologies in blockchain and web free could change to make a change in web in Social and as we as an investor obviously we're interested in a gaming Market D5 Market but some of you just some of us just miss our social in web 2 is a 50 billion Size Market looking at the revenues in terms of valuation obviously Rich millions of dollars just several companies can make up a trillion size in web 2 but as we look at the social Market size I personally and the firms feels like web free social show could even exist did Market this Market size and the goal for the industry but not just for us for everyone in Social is to build open platforms where users can own content they create and most importantly the digital objects they create and when I say platforms it doesn't just mean silos Instagram equivalent through the equivalent what that means is any kind of decentralized applications can add in their social component for example unit swap can have their social component think about if you and your friends buy uh eight coin not the financial advice by the way on uni swap you could have notifications show up and seeing your friends buying eight coins and this is a kind of social we don't necessarily need something exactly like a Trader in referee social looking at the current social landscape are same as different kinds of sectors that we look uh that we invest in web free we have the infrastructure at the bottom which most importantly for social is a data privacy and how we can store data in a decentralized format securely and privately so we see projects like live peer and different kind of projects trying to build up infrastructure with a use case like social in the middle layer there's identity the social graph that's credential in the credential you could see something like a design score which when you interact as a user with different kind of platforms and you go through the Gen score there will be a score come up for you on how to generate you are on chain obviously with on-chain data sourcing social graph I personally am a fan of lens protocol because it allows you even if you are using a Facebook on lens protocol and you don't like it either because of its UI ux because of the user experience you can export your data and import into another social related application built on lens protocol and social craft to me is the most one of the most if not the most important sub-sector within social identity and I personally think that for web free we should innovate from a water-based from address-based wallet to individual based wallet in the future meaning that something like a middle Mouse should Encompass your social anality allowing people to know who you are I'll mention more about that later in the next slides and social applications so a lot of lots of companies come to us and say they are decentralized Instagram and whatsoever I personally and the firm thinks that perhaps we are not at the right time yet to build a decentralized Trader decentralized Facebook because infrastructure is just getting started but there are use cases that makes a lot of sense even now like only fans only fans uh is an adult ready social media platform but lots of the contents that are actually require privacy and security when a user interact with the protocol if the company or the users interact among themselves so we see companies like beera or platform like Mira which is kind of like a web free medium or only one which is a only fans with free versions uh started to appear since last year when I look at the opportunities and referee shows show there are a number of them and people like to talk about ownership that some of the social related platforms they will create nfts issue nfts that you can mint but I personally like two points the most which is data portability and embedded web free fund data portability as I mentioned just now it means you can have your user profile dealing across platforms across applications across chain as well lens protocol is doing something to enable this such that you can withdraw your data and import to other platform when you want to just switch to another platform think about Twitter if you dislike Twitter and want to switch to another platform equivalent you have to do a lot of manual work to export your contacts as for your content as well and better web free phone I like this idea because I see social as a more interactive and more interactive experience not just limited to the current Social Scene we're looking at it means that something like a step in which we all perceive as game as a running game actually it could be something related social as well in the future how you can have the game economy token economy as well as the social component included in one application is something that I'm looking at so for for Newman we don't look at um gaming metaphors social and Silo components we think that actually everything could interrupt each other social is just a component that make up games to be a referee social games so most of our peers in in the investor space they don't invest in Social now and that is for several reasons which I don't agree with which I don't agree as well they say welfare social is being hindered they say they want to invest in games because it's the hottest now the hotter space but for me I feel like the Middle Point is exactly why they're not investing they think that social companies social unicorns are the platforms that we're currently using and there's no way for us to switch from Twitter Facebook Instagram to other kind of weapon social platform and I'll tell you why that's not the case it's because I believe we're free social for current stage it's not gonna not gonna not gonna be isolated social platforms and every application is going to have the social components that's why as a firm I believe that we should invest in two areas the first one is whatever stakeholders and modules that make any application being able to socialize about users for example just yesterday we talked to a company that allowed cross-chain messaging and cross-chain notification to happen I mentioned at the very beginner presentation imagine that you could have messaging on unit swap think about you can talk to your friends on unit Swap and you borrow a certain if on Ave that you could communicate with your friend on that and all this social data didn't appear before and you don't have to invest in a new RV you just have to invest in a new module that makes Ave a social platform and that's why we like to invest in anything that related to wallet and identity any kind of new wallets that have a social component makes us interested so it has to be it could be a middle mask that you could talk to each other on the nfts with the wallet as I mentioned I believe that address-based water is going to change to individual based wallet which the balance between privacy and identity and transparency is going to be very important for these applications we recently invested in a company which made subscription and possible so think about so some of the investors might feel that big subscription possible is a consumer based application to me is social related because anything that is social related or consumer related you require a subscription-based model to make it happen so we invest in that company not because we believe just in subscription substitution is easy in web 2 We Believe social in web free requires this module to make it successful Bank token I believe some of you might have heard about it is mentioned by vitalik everyone has his own identity as an nft which is non-transferable something like that along the line to redefine identity redefine wallet or to create new modules that make sure possible among all the referee applications is something Newman invest in obviously the middleware infrastructure social graph and the identity architecture is something that we're looking at as well I think that's the end representation but if you are building something notches related to gaming not just related to metaphors but you believe that in your application or protocol there's a social component come talk to us we are always deploying in early stage run a and whatever runs actually as long as it's interesting thank you