Description

Social medias built on web3 need to be fundamentally different than web2 counterparts. Mote is a social media based on the idea that the builders & explorers in crypto today all have something valuable to say. Mote grants read & write access to your deepest thoughts through long-form conversation with friends. Talk about something important? You mint your conversation as an NFT, and now your friends can listen in. If your friend thinks you discussed a valuable idea, they buy a fraction of the NFT, which exposes the conversation to all of their friends. Each account can have up to 140 friends. With this social network architecture, ideas must face exposure to a large number of people to propagate across the network. Secondary markets can pop up that service other functions, such as shorting an ideas that don't hold long-term value. With these mechanisms, (1) moderation, when good, has a monetary upside and (2) is conducted permissionlessly by self-selected friends.

Mote showcase

How it's made

Token liquidity is provided through a bonding curve token sale, where a smart contract is able to provide its own liquidity. The bonding curve specs are subject to change, but currently tokens are sold on a sigmoidal curve. Your 42 closest friends all have the ability to 10x their investment in your idea, provided their friends think its valuable too. The NFT itself is an ERC-1155 contract holding a single token of ID 0 (your NFT, or intellectual property) and an unlimited number of tokens with ID 1. Speculation on the value of your NFT is done via buying/selling(burning) token with ID 1. If people are interested in participating in the social media, we have plans for accounts to also be represented by ERC-1155 contracts. Anyone can trade tokens representing their friends, but only 140 friendship tokens will ever exist per account.

Technologies used

IPFS