The world’s most decentralized NFT marketplace will use the best features of Web 3.0 Social to help drive the new Creator Economy by removing the flaws that plague other popular platforms and letting NFT creators connect directly with buyers via their own social NFT pages, eliminating the need for using third-party chatting apps like Discord or Telegram to exchange info about their non-fungible token offerings.
Web 3.0 Social is becoming the hottest, simplest, and most intuitive concept for selling NFTs to fund projects, monetize content, and validate ownership of both digital and real-world assets. This new, decentralized digital technology eliminates the obstacles that slow down and complicate the process. And GalaxE by HODL, which will be globally launched following an initial Soft Launch to a select number of invitees who will provide informative feedback on the platform, is offering the First Metaverse Hub for NFTs, Social Networking, Gaming, and Entertainment, where all these activities and more can be simply and efficiently coordinated from the creator/seller’s own all-in-one social NFT page.
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In contrast, the current (Web 2.0) NFT ecosystem’s largest platform, OpenSea, exhibits multiple flaws that negatively impact the user’s ability to make the most of the current NFT market. These problems include the lack of embedded social media, the platform’s default tendency to inherit Ethereum’s existing issues, elitism as a barrier to access, security issues inherent in the platform, and an unnecessarily complex NFT buying and selling process. To drive engagement and increase participation, these are issues that need to be addressed.
NFTs and Web 3.0 Social
GalaxE by HODL, by combining NFTs with the best features of Web3 Social Media, offers the most comprehensive tech integration, easily solving these issues. The GalaxE NFT Social platform uses Rabet for full Web3 integration and Metamask for quick, easy login to all connected social media accounts, providing an exciting new way for NFT creators to place all metaverse activities right at their fingertips.
One innovative example of game-changing Web3 NFT strategies for collectors — one area where GalaxE is very active — is tying NFTs to unique physical assets that increase in value over time, letting them serve as a certificate of authenticity. Once the item’s original value has been authenticated through an NFT, the buyer can safely make the purchase, confident of getting the genuine article.
Another example, for musicians — one that holds the promise of major changes to the music industry — is selling NFTs to the artist’s social media followers as a way of funding an album project. By offering their fans such valuable items as album art, a Zoom (or live) meet and greet, and a share in a percentage of the royalties earned on the album’s sales, independent musicians or bands can encourage their fans to fulfill the role of their “record label.”
Web 3.0 creates a more advanced ecosystem that drives engagement by moving away from advertising and toward the use of native platform tokens to monetize social media, vastly improving the user experience. This is why GalaxE is far more advanced than current social networks like Instagram, Tik Tok, YouTube, Twitter, and Facebook (currently in the middle of rebranding as Meta), all of which still operate under the centralized Web 2.0 model that views the user as a commodity.
With the value of NFTs steadily rising, as evidenced by an increase in NFT trading volume — from $85.7M to $19.6B between 2020 and 2021 — and the metaverse market expected to potentially approach $800 billion by 2024, there appears to be virtually no limit to the economic possibilities the new model has to offer.
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