The social media landscape is currently controlled by a small number of large corporations that have an oligopolistic power to decide what people can and cannot say on social media. Moreover, social media giants monetize user data by selling it to advertisers in exchange for providing their “free” service, giving their users little to no control over their data.
As a result, a number of blockchain startups have been launched to decentralize social media and to return content and data ownership back to the user and away from large centralized organizations.
In this guide, we’ve gathered information about the top ten blockchain social media platforms for content creators in 2020.
Top Blockchain Social Media Tokens
To compile our list of the leading blockchain social media networks whose tokens you could purchase to add social media exposure to your digital asset portfolio, we used ranking criteria such as in-platform token market capitalization, user numbers, and size of social media following. Here’s what we found:
|Name||Description||Launch Year||Market Capitalization of Platform's Token ($)||Daily Trading Volume of Platform's Token ($)||Amount of Users (based on publicly available information)||Twitter Followers||Score|
|Kin||In 2017, the popular messaging app Kik conducted a $100 million ICO to sell its Kin token to the public, which is intended to be used within the KIK app. However, KIK has been taken to court by the SEC for the alleged illegal sale of securities and, thus, the future of Kin is currently uncertain.||2009||17,926,807||994,465||10,000,000||27,000||4|
|Steemit||Launched in 2016, Steemit has managed to establish itself as the largest blockchain social media and blogging network with over one million users. Users can earn cryptocurrency for creating and curating content on the platform.||2016||136,585,759||3,316,090||1,000,000||106,000||4|
|Voice||Voice is a brand new social network that is being developed by Block.one on top of the EOS blockchain.||2019||5,805,250,887||1,995,393,251||n.a.||197,000||3.5|
|DTube||DTube is a decentralized version of YouTube that enables video content producers to get paid in cryptocurrency. DTube was built on top of the Steem Blockchain and the IPFS network.||2017||136,585,759||3,316,090||62,577||900||3|
|Minds||Launched in 2015, Minds has emerged as one of the most popular decentralized social media alternatives to Facebook and Twitter. On Minds, users can earn cryptocurrency for creating content and contributing to the network.||2015||?||0||1,250,000||10,600||3|
|Obsidian||Obsidian is a proof of stake blockchain with an encrypted, anonymous, mobile messenger app that enables anyone around the world to communicate with others with complete privacy. The Obsidian (ODN) token can be staked to earn interest and may be used in the future for the purchase of premium services on the platform.||2017||382,364||2,133||100+||7,000||2.5|
|Indorse||Indorse is a blockchain-powered social media alternative to LinkedIn that enables users to take back ownership of their data and rewards them for contributing to the social network.||2017||823,267||122||n.a.||8,100||2|
|Sapien||The Sapien Network refers to itself as "a Web3 social network that gives users control of their data, rewards content creators, and fights fake news." The platform's native token is the Sapien (SPN) token is used to reward users who contribute to the network.||2018||238,241||0||6,453||6,000||1.5|
|SocialX||SocialX is a still-in-development community-driven social media platform that allows users to publish photo and video content and receive rewards in cryptocurrency for participating in the network.||2018||344,909||0||n.a.||4,200||1|
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