Problem: Challenges in Unlocking Social Media Data for Web3

12.69 % of all global data generated comes from social media, still this data pool remains largely untapped for Web3. Despite its immense value for AI, finance, and marketing, significant barriers prevent the efficient use of this data.

Data Accessibility Barriers

Many platforms, like X and Reddit, have either restricted or completely shut down free API access, placing heavy paywalls or outright prohibiting automation to access public data. This creates an obstacle for businesses and developers who need real-time social data for insights, AI training, and market analysis. As a result, much of the data generated by billions of users remains out of reach for most companies.

Monetization Inequality

Currently, the value generated by social media data is captured almost entirely by large platforms and corporations, leaving the individuals who create this data with no share of the profits behind. Social media users generate vast amounts of valuable data every day, yet they do not benefit financially from it, creating an uneven value chain where only corporations profit.

Lack of Decentralization

The existing systems for data collection and monetization are centralized, limiting the ability of individuals and small companies to access or benefit from public social data. These centralized platforms control the data flow, preventing a decentralized and fair distribution of the data’s value, which is critical for the Web3 ecosystem.

Infrastructure Gaps

Although social media data is generated at massive volumes, there is no standardized infrastructure that seamlessly integrates it with Web3 platforms. Without a decentralized system for efficiently capturing, processing, and distributing this data, the social media data market is underutilized, preventing AI, marketing, and finance industries from fully benefiting from real-time insights.

High Costs and Barriers for Businesses

The current landscape has created prohibitively high costs for businesses to access valuable social media data. With large platforms imposing high fees for data access, smaller businesses and Web3 projects find it difficult to tap into this resource, stifling innovation and data-driven decision-making.

These challenges are holding back the vast potential of social media data in Web3, despite its proven demand and value. Unlocking this data requires a decentralized, user-driven approach that returns power and profits to the individuals who generate the data.