Only1 Discussed its NFT Platform & the Road Ahead on a LiveStream with Solana News

Only1 is set after its public launch to reach more users through its unique proposition for social media users and creators alike.

By
Anirudh Tiwari
on
October 31, 2021
Category:
Breaking News

Content Censorship Only by the Community

Only1 is having an exciting Q4—its public launch finally came to the fore with new feature development and mobile application development happening simultaneously.

Leon Lee, founder and Chief Executive Officer (CEO), and Dan L., chief technology officer (CTO), joined Greg of BSC News for a near hour-long Livestream on Oct. 28 to discuss all the latest developments from Only1. The trio discussed topics including the unique user proposition the platform offers its creators and users, together with the roadmap for this quarter and beyond.

“I'm myself very interested in social media, so creator economy is a problem that I think has been around for many years, and it's something that we as a team are very keen to solve and we think web 3.0 is the way to do it,”  mentioned Leon introducing his point of interest in the platform’s offering for users.
Source: Only1 Tokenomics
“The problem with web two social media is as a Youtuber [...] should you want to monetize on Youtube, you do have to depend on them giving you the ad revenue and such. When you're talking about sensitive things like crypto or even politics, you're always at the risk of getting demonetized or censored right and then on social media like Facebook, Instagram, Twitter, and TikTok, Leon said.

The ultimate goal of Only1 of revamping and innovating social media could have far reaching effects. At a time when major platforms like Facebook have rebranded with an aim at crypto, the power of content creators and users is ever more apparent. Where creators choose to upload content and where users flock to consume plays a major role.

"As an influencer, for some of them, it's a full-time job, and they don't necessarily get compensated appropriately because they have to depend on things like affiliate links, merchandise sale paid ads, shoutouts, all that good stuff, so it's a dream for a while. Creators should be able to monetize directly by simply being active producing good content and engaging with a very loyal and helpful community," Leon purports.

For Q1 of 2022, the platform has exciting developments planned as well. Voting and governance features will be introduced with version 2 development that will introduced stablecoin support. The mobile application currently in development is also slated to be launched in the next quarter.

To Catch the Full Livestream recording, check the DeFi Direct Youtube channel.

About Only1

Only is a social platform powered by non-fungible tokens (NFTs) built on the Solana network. The platform is backed by eminent investors like Alameda Research, GBV Capital, NGC Ventures, Satori Research, Bithumb Global, Gat.io Labs, and Duck DAO. It also allows content NFT farming, where creators can post exclusive content as NFTs on which fans can bid on. Apart from the winner of the bid, the other fans can view the content using LIKE tokens.


Find more about Only1 here:

Website | Twitter | Whitepaper | Discord | Telegram | Medium |

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Anirudh Tiwari

Anirudh is a cryptocurrency analyst and writer who specializes in derivatives, DeFi, regulations and CBDCs. He has a Master’s degree in Finance. Before delving into crypto, he worked with a leading U.S. based investment bank. Apart from work, he is a music connoisseur and likes to play the drums.