HOOH is built as a web3 social network in 4 ways:
- Encourage and assist content creation with well-designed functions and Tokenomy
- Tokenize scarce social relations
- Transform users’ accruing data to be tangible and negotiable assets
- Connect offline life with on-chain activities with NFTs
Encourage and assist content creation with well-designed functions and Tokenomy
We believe the core is not traffic but content creation, which generates real consensus and social currency (the resource that people use to socialize with each other). Traffic will come as long as there are enough creators, hence enough good contents. We are trying every way to encourage and assist UGC. In order to do that, we make HOOH to be a smart and handy tool to assist everyone to express themselves easily.
Users don’t have to be artistic. As long as they are willing to express themselves, they could use HOOH to wrap up their ideas, thoughts, and feelings with suitable image (or music/video in near future). It is like dressing up a person with diversified clothes. These “clothes” will illustrate tastes, interests, characters, emotions, or state of mind, which are implications behind the text, and are more comprehensive than text by its own. This definitely encourages more people to express themselves and create content, which also generates more engagements and traffic.
HOOH is designed to be a decentralized community with various decentralized ways to allocate traffic and profit. In HOOH, content creators have much more power to collect value automatically from their own creations by the smart contract, and have much more freedom in various range to attract audience. In our future plan, creators will be able to build their own Polis as a DAO, curate creations based on their interests, organize and operate their own social circle, form consensus within their own sub-culture community, and collect their own revenue.
Aside from the creator end, profits are also allocated among other community members as long as they have paid attention during reading, voting, operating, curating…all kinds of engagements are valuable to the community and will play a part in generating consensus.
We believe that abundant good content, handy tools for creators, reasonable incentive with functional economic model, and well-designed mechanism to assist users to build and organize their own sub-culture social circle, will eventually attract crowds to settle in HOOH. Moreover, we are exploring a wide range of scenarios for NFTs that users will have and get benefit from.
Tokenize scarce social relations
We had a rethought of social relations in social network, and tried to categorize the scarcity of them and turn them into NFTs. There are multiple categories of NFTs in HOOH, we plan to make one category of them representing scarcity of relation. We call them Social Pin. They will be triggered automatically when users get connected in some way. The first group of Social Pins we will release are for mutually following. Users can either generate one randomly, or draw one by their own. When users mutually follow each other, they two will exchange their Social Pins automatically.
Social Pins could be traded in NFT marketplace. Collecting Social Pin could be tricky, especially when one wants to get a KOL’s Social Pin. Users could re-generate or re-draw their Social Pins whenever they want with a cost. For those who eventually become KOL in HOOH would probably use a new Social Pin to create scarcity, or they could release different Social Pins in different phases of their growth in reputation.
We are developing other types of Social Pin based on other types of social relations, for example, romantic relationships. The Social Pin will provide more motivation for users to engage in HOOH, and will create a marketplace for a new range of NFT that are playful and valuable.
Transform users’ accruing data to be tangible and negotiable assets
Users in social network generate massive date ocean. Besides analyzing them to conclude information around this person, there could be a more interesting way to demonstrate the path a user generated on this platform. We will have an avatar NFT, called Hermmon, that evolves with a user according to his or her accruing data in HOOH. This could be significant to support one’s persona or character setting in the community. Everyone’s Hermmon will be unique. For example, if major activities a user has in HOOH is to leave comments, his or her Hermmon may have a very big mouth. There will be hundreds of body parts showing on Hermmon, and different combinations represent different activity histories. It is also a negotiable asset and could be traded in NFT marketplace. The avatar brings more fun to the community, and will also encourage users to engage as much as possible if they would like to shape character settings or to raise a rare avatar.
Connect offline life with on-chain activities using NFT
We are developing another category of NFT, Stamps, that provides a channel for users to record their memories or activities either online or offline in a way of NFTs. These NFTs could be distributed around one’s personal social circle, or it could have public issuing. And they could be traded in the marketplace as well. We are still working on details of it, and will be ready soon.