Philcoin has introduced PhilSocial, a decentralized social media platform designed to intertwine user engagement with charitable giving. The platform leverages blockchain to redefine social media’s value system. Thus, it ensures that a portion of all earned rewards contributes to philanthropic causes.
A New Model: Engagement That Gives Back
At the core of PhilSocial is its “Get2Give” mechanism. It turns everyday social interactions, think as posting, messaging, and gaming, into a source of tokenized rewards. However, users must donate 50% of their earnings before claiming the rest, embedding philanthropy directly into the experience.
Jerry Lopez, Philcoin’s Founder and CEO, said: “What you’re already doing on Instagram, TikTok, and Facebook—we’re making it count. This is about shifting value from corporations to communities in need.”
How It Works: Earn, Share, and Grow
PhilSocial integrates Web3 features to provide users with multiple ways to earn PHL tokens and NFTs:
- Rewards are based on content engagement (likes, shares, watch time).
- Users can stake tokens for additional earnings.
- Completing quizzes, referrals, and in-app activities provides further incentives.
Users can withdraw tokens and use them for educational courses, services, or within the Philcoin ecosystem. They can do that all only after meeting the Get2Give requirement.
Bridging Technology and Philanthropy
PhilSocial extends Philcoin’s mission of creating a Web3-powered giving economy. PhilSocial is designed with accessibility in mind. It aims to support users in low-bandwidth regions where traditional social media platforms often face challenges. While details on its optimization remain limited, the platform prioritizes global inclusion.
Beyond standard features, users can create and track charitable causes. They can manage giving directly from their accounts and automate donations via smart contracts for transparency.
“Traditional social platforms monetize user attention for advertising. We’re redirecting that value to social good,” said Lopez.
Impact and Expansion
Philcoin has already facilitated over 1.7 million PHL token donations across various countries, supporting causes ranging from medical aid to education. The initiative builds on previous Philcoin efforts, including a $10 million campaign for displaced families in Ukraine and collaborations with educational institutions like the Repton Family of Schools in the UAE. Philcoin has partnered with the Cabécar “Chirripo” tribe in Costa Rica, the country’s largest indigenous group. This collaboration aims to leverage blockchain technology to improve infrastructure, including roads, schools, and healthcare facilities, thereby addressing critical challenges faced by the community.
In another strategic move, Philcoin has appointed Jeff Pollack, former CFO of Cardano, as its new Chief Operating Officer. Pollack brings over 30 years of experience in global finance and technology, reinforcing Philcoin’s dedication to integrating blockchain with philanthropy.
Users are embracing the change. Israel Pena, an environmental activist, praised the platform’s ability to connect communities with meaningful causes. Linda Watson, who launched a youth initiative through PhilSocial, described it as “a tool that makes turning ideas into action easier.”
A Web3 Social Experiment in the Making
PhilSocial enters a Web3 social media market projected to hit $49.1 billion by 2030. However, the adoption of blockchain in social networking remains a challenge. The platform’s low-bandwidth optimization gives it an edge in underserved markets, but its long-term success will depend on maintaining user engagement alongside sustained charitable impact.
Now available on iOS and Android, PhilSocial is positioning itself as a new kind of social network, one where every interaction contributes to something bigger.
Disclaimer: Any information written in this post does not constitute investment advice. Themarketperiodical and all its authors do not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this post. Themarketperiodical.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this post.
