Space Summary
The Twitter Space SocialFi on Metis w/ @Gm2Social hosted by MetisL2. Delve into the world of SocialFi on Metis, where blockchain technology and decentralized finance principles converge to redefine social platforms. Discover how community-driven governance, smart contracts, and tokenomics play pivotal roles in creating self-sustainable ecosystems. Explore the transformative potential of SocialFi in promoting financial inclusion, empowering communities, and reshaping traditional social media paradigms. With a focus on Metis' scalable infrastructure and low transaction costs, the space highlights the importance of community engagement, trust, and transparency in driving the success of SocialFi projects.
For more spaces, visit the SocialFi page.
Space Statistics
For more stats visit the full Live report
Questions
Q: How does SocialFi differ from traditional social media platforms?
A: SocialFi leverages blockchain technology and DeFi principles to enable community-driven governance and ownership over social interactions and data.
Q: What advantages does Metis offer for SocialFi projects?
A: Metis provides a scalable infrastructure with low transaction costs, ideal for developing and sustaining decentralized SocialFi networks.
Q: Why is community engagement crucial in SocialFi ecosystems?
A: Engaging the community fosters trust, participation, and decentralized decision-making, essential for the success of SocialFi initiatives.
Q: How do token rewards incentivize user participation in SocialFi?
A: Token rewards motivate users to actively contribute to the network, promoting growth and sustainability in SocialFi ecosystems.
Q: What role do smart contracts play in SocialFi applications?
A: Smart contracts automate processes, enforce rules, and ensure transparency, enhancing trust and efficiency in SocialFi projects.
Q: How could SocialFi projects impact financial inclusion and community empowerment?
A: By decentralizing social platforms and enabling ownership of data, SocialFi has the potential to promote financial inclusion and empower communities globally.
Q: What challenges might SocialFi face in adoption and scalability?
A: Issues such as regulatory compliance, user education, and scalability concerns could present challenges to the widespread adoption and scalability of SocialFi initiatives.
Highlights
Time: 00:15:42
SocialFi: Bridging Social Platforms and DeFi Exploring the synergy between social interactions and decentralized finance for a more inclusive financial ecosystem.
Time: 00:25:18
Metis Infrastructure for SocialFi Projects Understanding how Metis offers a conducive environment for developing and scaling innovative SocialFi applications.
Time: 00:35:51
Community Governance in SocialFi Networks Discussing the importance of community-driven governance and decision-making in SocialFi ecosystems.
Time: 00:45:29
Tokenomics and Incentives in SocialFi Exploring how token rewards motivate user engagement and participation in SocialFi platforms.
Time: 00:55:14
Smart Contracts for Trust and Automation Examining the role of smart contracts in ensuring transparency, security, and efficiency in SocialFi applications.
Time: 01:05:37
Future Prospects of SocialFi Adoption Looking at the potential impact of SocialFi on financial inclusion, community empowerment, and the evolution of social media platforms.
Key Takeaways
- SocialFi aims to transform traditional social platforms into decentralized and community-driven networks.
- The integration of blockchain technology in social platforms can enhance transparency and security.
- Metis provides a platform for developing SocialFi projects with its scalable infrastructure and low transaction costs.
- Community engagement and governance are vital components of SocialFi projects for sustainable growth.
- Decentralized finance (DeFi) principles can empower social communities to manage and benefit from their data and interactions.
- The concept of a self-sustainable blockchain envisions a future where social interactions and financial activities are seamlessly integrated.
- Incentivizing user participation through token rewards can drive engagement and network growth in SocialFi ecosystems.
- Smart contracts play a crucial role in automating processes and ensuring trust in SocialFi applications.
- SocialFi projects have the potential to disrupt traditional social media models by putting control back into the hands of users.
- The intersection of SocialFi and blockchain technology opens up new possibilities for financial inclusion and decentralized community governance.
Behind the Mic
Introduction and Recent Updates
Hey GM folks. Good to be here. Feels like it's been a while since we've done a space because were doing them every day during the getcoin funding round and I think this is our first one, maybe since we finished the round, we have a lot going on. We have a new thing going on that y'all should have heard about. I hope you heard about, especially if you're a builder. The thrive Metis startathon campaign is on, but as I'm talking about the previous getcoin round that just ended, our guest, GM squared, was a participant in it and that's one of the things we'll talk about, including a bunch of other stuff and what they're building and what they just launched. It's really exciting. But before we get into it, just going to do some quick housekeeping myself, just introduction. I'm Anthony with Meatus marketing and on the top of the screen you'll see a tweet. If you go right there, it'll take you straight to the GM squared Twitter page. And in that post you'll see about a metis native mobile wallet and super app that they launched.
Features of the Mobile Wallet
That is, you can download it with both iOS android. So that's really awesome. Love to see mobile first solutions. That is definitely what's needed for mass adoption, more user adoption. But yeah, you can go there. Keep an eye on that scoreboard as we post different things up there. And on the bottom right is a chat bubble. You can leave any questions or any comments in there and I'll be monitoring it. So yeah, invite some friends over, tag three people in there. That would be really dope of you. Really appreciate it. Appreciate all the engagement, like and retweet the space as well. Let's get more folks in here. GM squared is building something awesome that more people should hear about if they haven't yet. So. But they won't hear about it unless we put spread the word. So thank you for doing that for all of us here. And then there's this emoji button. Let us know you're paying attention. Let us know you love what we're saying, don't let us know you don't like what we're saying.
Introduction to GM Square Representatives
But if you feel inclined to go ahead but cool. I'm gonna just pass it over to our guest from Jim Square just to introduce yourselves personally. So let's start with the account. The GM squared account. GMgm. Thanks Anthony. Thanks so much for creating this space and thanks all audience to participate this space. My name is Len I'm the CEO of GM Square and thanks for the kind words from Anthony. GM Square is a native mobile wallethead, the first one on Metis and also the source of high super app. We want to provide Metis user a seamless experience where they can participate into on chain activities and they can find a way to maximize their social present value. And we are going to do that via mobile app. The one that tied with your phone in your pocket every day. Yeah, and I think that is a very short introduction about GM Square and myself and I'm happy to share you more during this space. Now I will pass the mic to my partner Mary Jane.
Mary Jane's Introduction
She's handling our bd and most of the cool stuff on our twitter account. Oh yes, thank you mister Long. Gmgm everyone. My name is Mary and I'm Beedi and marketer from James Russell show. And yep, I'm very happy to be here today and very excited to like discard about social file mentors with you guys. And yeah, if you have any questions on what we are building, please just like raise your hand and I will answer your questions. Yes, thank you for those introductions. I'm excited to speak to you all. I'm excited to really dive into GM squared and the mobile first wallet and app that you all built. I think that's really, I think that's a huge thing. generally, objectively, definitely mobile first solutions are what is needed for mass adoption. You know, most people are going to be, using apps just as they are, as they do now.
Understanding Points System
I think we confused you a bit. You can trade on our partner protocols and based on your volume, you can earn points. For example, use web like $10. You earn five points. I see. Okay, awesome. Thank you, Anthony. But thank you, Anthony. You, you give me just a very quick, very good point. Maybe we can consider to enable point trading. Yeah. You know, people will come up with some crazy ways to trade it too, or things to trade it for. And I think that'll probably increase lot of engagement too. It'd be interesting to have some utility to the points before they're even redeemed.
Mini Game Development
Yeah. Yeah. And later on we will have like a mini game. So more fun to play. Nice. That will be awesome. And this game that you're talking about would be included just directly from the wallet or the app itself. We are still considering it because right now we are seeing that Minigame is trending. Everybody is playing a telegram mini game. And our team, we build a game already. Right now we have two options. First one is we created Telegram Mini game for GM Square. And the second one is create a built in game inside the GM Square mobile app. There's, there are pros and cons.
Choosing the Best Approach
Yeah. Yeah, definitely. Yeah. The Telegram Mini apps are definitely hot right now, but, you know, still got some. I guess you got some time to figure that one out, see which is the best route for you all. But I think either way it would be great. I think would be a success either way. But what other. So, you know, you can trade the points or the points get you a spot in the NFT launch in the allow list. I believe I'm okay. So what are the NFTs? Are there anything you can share about the NFTs? What they're gonna look like or what the utility is going to be or what the significance of the NFT is?
Introduction to Baby Rooster NFT
Oh, yeah. So our NFT is called baby Rooster because the project name is GM. Gm mean. Good morning. Good morning. And we think that good morning is really relevant to Rooster. And we want to use the baby rooster so that the user can acquire a small one, a baby one, and then via their journey with the GM Square app, they can nurture that baby to make it a real roster. And we all see that NFTs are often seen as a fun and og thing in this space. It allows project and user to showcase their unique style.
Community Engagement and NFT Minting
And you can see that on our social. We have been giving away one PRP NFT for our partners, moderators and also contributors. These one TFP NFt is part of the collection. The only thing that differentiate them from the rest is that they have very unique look and they are one. And for minting, the most of our NFT will be free mint for our value contributors. And we are thinking that we will have a limited number available for public minting at a very small cost. And we think that this is a great way for our community to get involved and support the project.
NFT Significance and Future Expansions
And bottom line, the NFT will be a key part of our GM Square brand identity. And who knows how far we can go. We might even build a merge system around the IP along the road. We can have like cap, t shirt and all the other stuff. And this will create even more engagement and connection with our community. Yeah. So after the meeting will be the game, the mini game that I mentioned earlier. And this NFT will be the main character for the game.
Rewards System and User Engagement
Amazing. Amazing. Yeah. The NFT sounds really interesting, especially it being, you know, one of one each one. So you have your own unique NFT for those who get one. That's really cool. And in terms of the rewards, I know this is maybe asking a little, maybe getting a, putting, getting, putting the head or what's the saying? Putting the horse in front of the car? Maybe it's too early to ask, but I'm wondering for the rewards that you can earn for points, is the points feature or the points campaign, is this going to be like a constant thing that's part of GM squared or is this just right now for this NFT launch?
Constant Engagement Through Points Campaign
But if it is going to be like points is kind of like built into the DaP in the wallet itself, are there ideas or plans to do different kinds of rewards like maybe for Metis tokens or things like that? That's a great question. As I mentioned earlier, point is for reward and NFT meeting is just the first attempt to bring utility for points. And along the road we will be partnering with all the project within Metis ecosystem and beyond Metis ecosystem. And during that partnership we will try to set up like kind of incentivize mechanism for user.
Variety of Rewards for Users
They earn points and then they can redeem points for real reward. It can be like merch, like a cap or a t shirt or even can I can be NFT from other project or can be an e voucher. So we believe that when we can provide this kind of points mechanism, we can open the path to both web two and web three. Awesome. Yes, and I believe so too, especially it being mobile first, definitely bridging that gap and then having this constant points system that folks can engage with and have fun and you know, try to earn something.
Encouraging User Participation
You know, I think that actually, you know, it brings something for people to want to. When you, when you have to earn something, it makes you constantly come back. So, you know, so you can get to that point where you can finally receive or achieve the reward that is being offered to by earning a certain amount of points and gets you to do certain activities, things like that, and builds engagement and more. Anthony, when we can launch the game, they can spend the points inside the game as an in game currency.
Dynamic In-Game Economy
Oh, nice. Yeah. They can gearing up, they can gear up their character to make it more like more skillful, more faster and they can complete the mission quicker. And you talk about methods. We can create kind of like seasonal tournaments where user can compete with each other for the leaderboard ranking and we can sponsor a prize for that leaderboard. That would be, that's awesome. That's good to hear.
User Experience in Web Three
Leaderboards are great and you know, the competitiveness, the, I think that's something that is fun for me. So that's really cool that you brought that up. Yeah, we really don't want to like, always work toward like token DGE. We want to bring user experience, web three. Of course, most of the user come to this space for financial return, but we think experience and fun should be there. Exactly, exactly.
Focus on User Engagement
And that's something that I was saying even during the Gitcoin round that, you know, folks are really looking for experience. The most popular dapps or apps, let's just say apps in the web two world. The most popular apps, the most popular websites all offer experiences, you know, not necessarily always like some kind of financial return or something, you know, like, look at this app that we're on right here.
The Importance of Experience
What is, what is Twitter or X offer? You know? Yes to content creators, it offers a form of revenue, but most people, the vast majority of people are nothing getting paid by Twitter to be here. They're using Twitter because this is a place to talk to each other, diet, have dialogue, engage. It's fun and all kinds of other things outside of fun. Some people are angry on here, but it's an experience.
Broader Insights on User Interaction
Same with like, games. Games are huge. I get what would, you know, what I would call them, products, you know, digital products, wherever where people go to play, have fun, you know, they don't always play for money or play for anything else except for the experience. And so I think experience is really like something that I think we could focus a lot more on as an industry is experience more and building that user experience, that user friendliness.
Mobile-First Approach
That's why I keep bringing up the mobile thing, because I think being mobile first really helps with the experience for users. And I think is the first step to really getting there, to building something that keeps people coming back. Right? Yeah. In GM Square, our mission is create, creating a loyal community where we can distribute the value via what we build.
Vision for Community Engagement
We are the future, what we release.
Community Engagement and Partnership
And in return we hope that we receive the engagement and connection from the community and the project. And from that two angle we can build a very vital relationship and along the way we will do partnership and seeking for more deals and we bring to the communities and of course we will together with the community to like evaluate the deal. Not, I think it's a bit early, but we hope that we can become some form of launch pad. Maybe time will tell. Interesting, interesting.
Upcoming Milestones and Startathon Participation
So I see you guys working with a lot of ideas, though. So that's good to hear. Definitely going to be some things on the way as we move forward. Yeah, a lot of things to do. But the first thing first, we will focus on the upcoming milestone. Yes indeed. And speaking of milestones, are you all participating in the startathon? Yes we are and we want to bring a cool feature to start on. As I sneak back in the space just a couple days ago, we are adding NFC and Bluetooth integration for Starterton and with this feature we allow project to set up devices at their booth at events and user will be able to collect poap NFT from our app when they visit these booths and we believe that this approach enhance marketing for projects and also provides a ten to earn experience for the user.
Innovative Project Features
Imagine project they can have an on chain holder and later on when they want to deploy like an early contributor program they can use this setup user and is it available on via GM Square and also on chain? Nice. Awesome. So here's some alpha right here. Great. That's good. I hope you all have a great startathon experience and I how was the gitcoin experience for you all? Gitcoin experience is great. To be honest this is the first time we attend kind of quadratic funding ground from bitcoin and we like I share we have so many ways to do crowd hacking.
Challenges with Gitcoin Funding
We can call contribute community to donate for us and then we can reward them with points and NFT but we are not able to do that. We are not allowed to do that their role stopping project to incentivize donors so we must do the organic way. We try very hard to do ima with all the projects. I remember we attend every single like gitcoin to the space and then we marry. She must work very hard to create creative content on the social to cleverly tell the donor to donate for us but not so frankly. So that is tricky part and by the way we will now the gitcoin is ended so we will be giving away our NFT for gitcoin donor.
Engagement and Project Opportunities
Oh nice. Awesome. So where, where can folks where's that gonna happen? Or where can people stay updated on that? Just will that be through the app or stay tuned to your Twitter page or where can they stay notified? I will give some alpha we will announce the details on our Twitter and then the mint will be happening on the mobile app. So user will meet Nft via our mobile app. Amazing. Amazing. Cool. Cool. Yeah so I'm glad you had a good experience with gitcoin and are now doing a startathon.
Support for Builders and Ecosystem Development
It's definitely you know like the entryway into getting more deeply involved into our ecosystem and getting more value out of our ecosystem as you provide value to our ecosystem. So wishing you really good luck on that and happy building. You know, this is our first startathon as well. So as our git coin round, that was our first one. That was a really great experience. Learned a lot. Going to have a, you know, in the future rounds now and know how like to, what to do to engage projects and engage certain people in a community.
Creating Welcoming Experiences for Builders
And the same with the startathon. We're figuring out how to best facilitate this process for builders because at the end of day that, at the end of the day, that's what it's all about. Everything we do is for builders and to make this the most welcoming experience that you can have. And we really want to see you succeed. So yeah, love to see it. Love to hear everything that you shared. I'm going to open it up to questions. If anybody has any questions you complete, you can request to come up on stage.
Audience Engagement and Interaction
I will bring you up and you can ask anything or share any comments. If you cannot speak for any reason or you don't feel like coming up on stage, you could also ask questions in the chat bubble in the comment section, checking that I'll get to them. But right now I see we have OLg Caleb up on stage. How are you doing? Hey, Caleb, did you say your question or I missed something? My audible is like, I'm working. So I'm not sure. I can't hear you.
Technical Difficulties and Audience Involvement
I'm not sure if you have a question or maybe your network's not working or some technical difficulties, but maybe you can come back or leave the space and come back and we'll bring you back up on stage. Maybe it'll work, but I'm gonna pass it over to pot gems crypto, who also just came on stage. How you doing? Pot gems? Yes. All right. I don't really have a question. I just want to appreciate Metis for all they're doing for the entire ecosystem.
Gratitude for Metis Team
And I really love the fact that. Metis is responding and I never anticipated that. So the space is really, it has been interesting ecosystem current expansion we have. So I really want to thank the. Team for what they have been doing so far. And it's been great getting to work with here. That's all. Awesome, awesome. Thank you for coming up and thanks for sharing your thoughts and engaging with us.
Importance of Engagement and Experience
Really appreciate it. Really love to see, you know, folks engaging and that's what, you know, these spaces are for. That's sort of everything that we do for is for you to engage for you to get involved, for you to connect with the project. So this is a great opportunity to connect with the builders that are in our ecosystem and really know what's being built, how you can benefit and what kind of value and what kind of experience you can have.
Focus on User Experience
And that's what I, that's probably the thing that stuck out to me the most today with, speaking of GM squared is that, you know, they really focus on building an experience, which I don't ever hear people say. I don't ever hear people talk about the experience. And that is truly, I believe the most important thing is to build a good experience for your product, for your app. That's what it's going to keep people.
Crypto Value Beyond Financial Returns
Yes, the returns are nice, the financial returns, all that. This is what crypto is all about, or it's a large part of what crypto is about, but it's also about experience. You know. Know, there's tons of ways people can get returns on an app, but they're going to stay at the ones that provide a fun experience or an engaging experience that keeps them coming back. So let me, I see we got Caleb trying to come back up.
Attempts to Connect with Audience
We'll try this one more time when he is back on stage. Hey, Caleb, are you there? May be having more technical difficulties. Is he his speaker now? Hey, Caleb. Actually, I don't know. I don't know what happened the other time, but maybe I was actually downloading the super app. Maybe my network kind of got. Interrupted.
Newcomers and Interest in Metis Ecosystem
And actually I've gone through your page and I kind of like what you guys are building up. I'm new on the Metis. Metis ecosystem. I actually heard about Metis from a friend of mine. Rich kid. Yeah, he actually talks about Metis a lot and I think I'll be here for a while. No, I just kind of fell in love with the whole project and stuff. I don't. Do you guys have like maybe a contributor program or anything?
Interest in Contributions and Community Involvement
Like I'm actually a content creator and I would love to like, you know, putting my $0.01 or two cent into Metis, you know, and like, yeah, kind of spread it all out, you know? Yeah. I'm glad to know that you are new to me. This and you come to the right space because GM square is aimed for no coiner.
Community Focus in Project Development
The ideas come from people like Mary Jane. She came to our firm just last year and as a fresher she was struggling with the huge amount of information in this space and she brought up an idea. Why wouldn't we build something for no coiner like me all in one solution that I can interact with other people just like me or even more experience people and also find opportunities there ANd have Fun With Og team, with nft and with DefI protocols.
Introduction to GM Square
So that's why the GM square was born and I recommend you to give it a try. Yeah, definitely. Definitely. Actually, I'm just trying to set up my wallet criteria. Yeah, I've DOne in a minute. Awesome. Awesome. Yeah. Good to see that you're setting up the wallet. That's awesome. That's for sure. A benefit of this space and a cool result that we've had is a new user and a new walleth with GM squared. So yeah, I hope you're happy. GM squared for sure. Yeah.
Closing Remarks from GM Square
Is there anything, any final words or anything like that you want to say on behalf of GM squared before we start closing it out? Sure, Anthony, just one thing I want to say on behalf of GM Square. I want to say thank you to the community, all the voters and also the federation, the supporter. Without you, we cannot go this far. And we commit that all of the fund from our bitcoin realm or even digital will be used for development and operation. And we have kind of big Milestone ahead and let's follow our social channel for the latest update. Stay tuned guys.
Thanking the Community
For sure. Thank you. Thank you for being here. Thank you for joining us. Thank you for sharing everything. Shared a lot. There's a lot of stuff coming up for GM Squared. Their mobile app was just launched two days ago. There's a Points campaign going on right now. So definitely be like Caleb and download it right now. Get involved and check it out. GM Squared is also participating in the startathon and as you heard, there's a feature that they will be revealing as part of the campaign at the top of the screen too.
Inviting Community Participation
I want to direct you all to at the next hour, go to the AMA that's coming up through Meta's governance with Kobe Bean who is hosting Buzz, which is a project that is currently in our CEG. They're going, they're up for vote right now. Our other CEG projects are, their vote is concluding today. Any I think at the hour as well. But Buzz is going till tomorrow. So this is a chance to learn about more about them to see if you think they deserve a spot in our ecosystem as a community verified project. This is all up to you.
Importance of Engagement
It's really important for you all to engage, to do your own research, to learn these AMA's are the best way to do your own research because you're hearing directly from them and then you can make your decision so highly. Encourage you all to join that space. You can see it up on the scoreboard. it's the tweet up there. join it at the hour and get involved with the voting. before we hop off, Caleb, I see your hand is up. Go for it. Yeah, can I get like an invitation? Invitation code for James Coy. Like I got to the interface right away and I was asked to like compute an invitation.
Facilitating New User Engagement
Oh yeah, Mary Jane, give him an invitation code and you can earn a referral. Yes, for sure. Just join in the chat so that I can like just guide you to create the account. Awesome. Oh yeah, sure. And one more thing. I just want to say to everyone here in display, if you are kos or you are the ambassador or you are want to make some influence in the matrix ecosystem, you can jump in our app and you can dm me if you want to be the influencer in the app so that every of your posts or your transactions will go to the trending page so that like user who is newbie can follow your insight to make some trading decisions.
DM Opportunities
Also catching up with the latest news on metas. Yeah, and if you have some ideas, just dm me. Thank you, Mary Jane. So you heard that DM's are open opportunities available are opening up for folks who are interested in being influencer, content creator? Yes. If you are a influencer or content creator in our app, your content will be highlighted as a trending post on our platform. Amazing. Amazing. A lot of opportunities, a lot of stuff.
Wrap Up and Acknowledgements
A lot of features that you all offer and a whole experience, as you could say, that you're offering with GM Squared. It was great chatting with you all. Thank you for joining. It's the morning for me, so thank you for spending the morning with me. Great way to open my day. And yeah, thank you everyone for being here. Really appreciate it. Be on the lookout for our next space. We do have another one next week with Enki. That is probably the next one. We already posted about it, but we'll post about it again in case you haven't seen it.
Upcoming Events and Engagement
So you can get the link. But yeah, thank you for being here. For sure. Make sure to join the meet us governance CEG space coming up at the hour. The link is up there on the top in the scoreboard. Caleb, I see your hand up again. Sorry, sorry. Sorry for stopping you guys. Yeah, Mary, your teams are locked. Actually, I was trying to get you to read. Oh, sorry, but I cannot hear you clearly.
Final Thoughts and Goodbye
I said your DM is. Look, I couldn't, like, message you. Yeah, he will dm you. Okay. She. Because I tried to, like, give her a message, but I cannot. I can access a DM. Yeah. Mary. Mary Jane, you're probably gonna have to DM Caleb first so Twitter can open up the. The communication if yours is. Yeah, for sure. Yeah, it's okay. And yeah, just one last word. Thank you guys for joining the space today with Genesware and let us like, I'm very happy for to share with you guys everything about genes where today and if you still have any questions, you can dm me again.
Gratitude and Closing
Just thank you. Perfect. Amazing. Thank you. Thank you, GM Square. Thanks for being up here and it was great seeing you all every day in the getcoin round spaces as well. And now we have our own space with you all. It was great to hear from you and everything that you're building. I'm excited. I'm so happy that you're building a mobile product and also a product built around an experience, first and foremost.
Final Goodbyes
And thank you everyone again for being here and listening. We'll see you all next time again. Join that CEG special face that's coming up in 15 minutes as well. Link on the top. See you all later. Thank you and good night.
