In the world of Web2, social networking is hailed as the crown jewel because, in essence, the Internet brings more possibility to connect people efficiently, thus creating more value. In the past 20 years of Internet history, whether in China or overseas, social media has occupied the leading position in the Web2 era, and this advantage is also bound to continue into the next generation of Internet ecology.

What is Web3 social networking? Is the time ripe?

To put it simply, Web3 Social means that users use one ID and one digital wallet to connect with various social platforms and share one economic model. It turns out to earn benefits by ability.

In this case, the first thing to solve is the problem of ID. DID is a decentralized identity proof, the basic attribute of which is also social attribute. In other words, it is precisely because we constantly interact with society that we need identity proof. Therefore, DID and DeSoc (decentralized society) are inseparable. Vitalik Buterin has proposed a non-transferable token called Soulbound Token, which will be used to generate Web3's user identity. Its ability represents assets, permits, and credibility. In fact, the SBT proposed by Vitalik Buterin is a form of DID. With the help of DID, "trust without trust" can be realized, and similar people can be found quickly to achieve community effects.

The second is the issue of sharing a common set of economic models. Blockchain technology appears to be the perfect answer. Web3 social network empowers users to have the ownership and transfer rights of their own data, identities and relationships while supporting license-free development. The difference is only in the user experience. With decentralized databases and smart contracts, essentially, Web3 inhabitants follow one economic model.

The rest is a matter of making money.

Definition of DeBox by themselves:

DeBox is an instant messaging group based on on-chain asset data and behavioural data, where on-chain users can join social groups related to their on-chain address without permission. Through open and immutable nature of data on the chain, social mobility is aggregated to form various communities (the Web3 version of the Reddit community & Douban community).

DeBox underpins social networking with real-time communication—— barrier-free communication; DID is automatically joined by "points of interest" groups, which could help create real-time communication for communities. The development of communities contributes to countless potential possibilities.

Core functions in DeBox

For the project side:

For KOLs:

For users:

The key to the development of Web3 lies in users. Without them, everything is meaningless. Through a community with a clear theme, the project side can target potential customers very accurately for management and airdrops. KOLs can maximize the economic benefits of fans, and ordinary users can intuitively experience the beauty of Web3 while meeting their social needs. The cost of communication between communities is reduced and the efficiency of cooperation is improved. Once a positive flywheel is formed, users will continue to pour in. Only the incremental market can provide continuous power for Web3.0.

DeBox: specializing in relational Social (real-time social networking)

DeBox emphasizes "less trust, more truth". Based on blockchain DID, token holders could join the corresponding groups without permission from anyone. Multi-dimensional identity data labeling, the unique "press and hold to chat" function, increase the credibility of the voice, so that high-quality information can be truly delivered. DeBox attaches great importance to the authenticity of information and governance of the fraud environment. For example, all links that can be clicked in DEBOX must be whitelisted, and all communities are self-governing, and users who are banned by multiple communities will be silent.

DeBox is also committed to building the open platform DAO tools. Group chat is the starting point of all DAO organizational structures, including proposals, voting, treasury, capital management, trading, raffles, contractual tools, happens here. DeBox builds up a complete and open platform for DAO governance in a decentralized approach. More developers will be inspired to participate in the platform construction by establishing the DeBox Foundation.

DeBox relies on a multidimensional social graph to retain users. Crave authentic DIDs in multiple dimensions through holding, transactions, accessing, and opinions. Build a social network with a higher dimension and realize knowledge cashing. Personal data assets on the chain only owned by DID. High-quality knowledge content can be paid in multiple ways.

DeBox's way of attracting traffic

As mentioned above, Social is the traffic portal of Web3, so how does DeBox bring more traffic to Web3 and DeBox products while meeting the needs of Web3 users? DeBox launched an innovative pop-up room + voice service function, accurately acquires new users through public domain traffic, and helps users find project opportunities (wealth codes) to quickly discover and participate in new projects to gain early airdrop advantages.

Funding situation and recent activities

DeBox has completed its seed round of funding. Probably close to $2 million has been raised, details of which have not been disclosed yet. In the future, DeBox will continue to engage with top mainstream agencies. DeBox will choose to go public and issue governance tokens simultaneously.

On January 11, DeBox will release the third phase of NFT, which is both a PFP and a PASS card. At the same time, the club function of paying with ETH will be launched. Start to pay for knowledge of Web3.

Final Thoughts

The ambition of DeBox is clear. It focuses on the mobile terminal and wants to be a Web3 version of WeChat that integrates wallets, DIDs and communities. In the future, when crypto payment forms a certain share offline, social networking will surely be a sharp edge to break through the consumer terminal in the Web3 era. DeBox also has obvious shortcomings. Whether it can introduce a more comprehensive DID system or interface in the future to improve the quality and reputation of community management (DAO) and accelerate the application and popularization of Web3 DID is still unknown. How to absorb and accumulate traffic requires further exploration and practice.

Currently, DeBox has more than 10,000 daily active users, which is far from enough; some functions have not been launched yet, and the APP only has an Android version. In addition, will the obvious financial attribute in the DeBox Social system be able to balance the needs among users with different identities? How could DeBox avoid developing into a "leek cultivation field" that benefits project parties and KOLs but sacrifices the rights and interests of ordinary users? Time will tell.