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The new era of social media platforms.
Social Media Dominance
Social media has over the past 20 years grown to become a central and indispensable component of our modern life. This is not only because social media platforms make it possible to remotely network with millions of people online.
Rather, social media has grown to become a major source of news, entertainment, and information. This is the reason why social media platforms are so popular across all age groups globally.
For instance, 2022 statistics from DataReportal shows that;
1) There are about 4.7 billion active social media users globally; a number that accounts for 59% of the world’s population.
2) Between July 2021 and July 2022, 227 million people became new social media users.
3) In average, users spend 2 hours and 29 minutes on social media platforms
This goes to show that billions of people across the world find social media to be very useful. And while conventional social media platforms have proven to be useful social networking sites as well as an important base for online commerce, the Blockchain presents a new opportunity for growth that will go a long way in making social media much better.