Having succeeded, SubSocial intends to make good on its promise by distributing 16.5 Million SUB tokens after the successful crowd loan of 100,420.69 KSM that led to a fruitful auction. The process will begin once the parachain onboards next year on January 8, 2022.
SubSocial intends to take social network development into a new phase as the world shifts towards web3 and other emerging technologies.
Social Networks Have Evolved
Social networks are no longer centrally owned and controlled. The idea of public ownership, censorship, and identity has shifted towards one where everything is under the control of the individual from the current status quo.
SubSocial intends to create an ecosystem where anybody can create a social network and add features seamlessly. SubSocial’s integration with the Kusama parachain allows for further adoption of the SUB tokens as utility increases with an influx of new social networks.
The SUB token itself is a representation of a broad phenomenon. SubSocial and other platforms are the foundations for the new Metaverse ecosystem integrations built on next-generation technology. As a plug-and-play ecosystem, the SUB token is central to the utility of Social Networks as listings, commerce, and other interactions increase.
The benefits and features available to Social Network creators on the SubSocial platform are solutions to problems people have with Social Networks currently.
From privacy, community-oriented use, decentralized governance, and security, SubSocial is a proof-of-concept that though social networks aren’t dead, they must evolve to meet the changing demands of the future.
Kusama is an Innovation SandBox For Polkadot
Polkadot continues to grow in more ways than Gavin Wood, and his team envisioned. The unique ability to take projects into beta is one of those cool features that may see DOT become the ecosystem for everybody.
Kusama’s beta abilities allow for projects to go live without having access to the Polkadot mainnet provides projects like subsocial with the necessary exposure to a user base while keeping one eye on concerns that may occur at any time.
It also gives investors and members of the cryptocurrency space an idea of what to look out for in projects that haven’t yet made the jump to Polkadot’s Mainnet. This bird’s-eye view is a litmus test of the direction of projects within the Kusama purview.
As SubSocial goes into this phase, it will attract the attention of the members of the cryptocurrency space. Social Network project developers need thrust to achieve liftoff. SubSocial offers this through its unique integrations via the Kusama parachain.
Information is The New Economy
As 2021 comes to a close, SubSocial through the Kusama parachain increases the dynamic ability for cross-parachain communications. It creates new possibilities and frontiers for Social Network developers to exploit. A new framework for the information economy exists, as innovation can occur lightning-fast at the speed of thought.
SubSocial Founder, Alex Siman said.
“We are thrilled to have Subsocial secure a parachain slot on Kusama. This will allow us to build all sorts of innovative integrations in the Social Finance sector. Our community’s support has been incredible”.
This bedrock will create a catalyst for ideas. The process will prove social interactions are profitable and value-driven.