Recapitulation of Myriad Social PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Monday, 4th October, 2021
Time: 09:00 AM UTC
The Myriad Social PROJECT team was represented by @DannyJakarta who judiciously shared with us detailed knowledge and information about Myriad Social PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on MYRIAD_SOCIAL?
ANS: I am the CEO of http://Myriad.social.
Since the structure is pretty new, I oversee many things, but mostly the product and usability side of the project, in addition of being one of its ideators.
I started to work in IT in 2000s, and started to work within the blockchain industry around year 2014. Made products, made communication, made whitepapers for ICOs (before it was even called ICO), and now, back to the roots with Myriad, since (not only me, of course) I’ve been wanting to make a social network for a long while now.
I’ve got some other experience, I fathered the first legal music download website in Indonesia, worked in the video games industry (I absolutely love video games), and sometimes I do art.
Most prominent team members are Gilang Bagaskara, our CTO, who's been a leading actor in the Indonesian Blockchain ecosystem for years. And Barton Johnston, who basically programmed a blockchain from scratch. We've got a panel of advisors, too with extensive experience in both media and IT.
Of course we've go a killer and hard at work developer team, for the sake of brevity I won't give them all a shoutout, but let's yay them because they're awesome!
Q2: Can you introduce MYRIAD_SOCIAL , what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Myriad is a web3 social platform, that comes on the top of web2 social media.
Right now, it's a platform that allows you to do several things including tipping user's posts, but also tipping posts from web2 social media. If the author of those posts aren't on Myriad yet, they can claim their tips once they've joined in and claimed their social media timeline.
But of course it doesn't stop there. There are many features to comes:
- Turning your content into NFTs
- Following social media content from within Myriad
- Creating DAO managed communities
- and of course OUR METAVERSE!
Myriad is based on a dual architecture, federated for content, and blockchian-based for transaction and NFT related tech, and on the decentralized front, one of our most important guideline is to make Myriad owned by its users via its overarching DAO.
On the maker side, we're planning to keep the platform as open as possible so developers can code modules to customize Myriad in new exciting ways, or simply to turn its interface pink if so they decide :D
So basically Myriad is the Web3 transition from web2 that will be useful and fun for content creators (because monetization, NFTs and all those good things), and useful and fun for communities (because censorship resistant, federated, and community DAOs).
One little note about advertisement, we have that, too, but that's an opt-in and that's curated by users. So basically we're trying to engage users to strive for quality both in content and in advertisement."
So you can think about it, in a nutshell, as a user-owner social media where you can tip both native and non-native content, and turn what belongs to you into NFTs. That said, the concept is evolving, especially with the metaverse and we're heading towards becoming a larger, more connectable platform.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: An alpha version has been a available for a while now (testnet) and actually some questions in the AMA comes from the alpha demo. You an visit it here: https://app.stg.myriad.systems/
Our next push is going to include several drastic QoL enhancement. Before the end of the year you're going to see much change:
- NFT capabilities
- Following social media from Myriad
- User curated content discovery (Experience)
- And more!
We’re going IDO before the end of the year, too (also our strategic round is still open and you can invest here: https://www.myriad.social/myria
We’re going IDO before the end of the year, too (also our strategic round is still open and you can invest here: https://www.myriad.social/myria
Another milestone that's rather important is the inclusion of our metaverse. This isn't accessible to the public yet, but it's already pretty usable, and super cute, too.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: That's an important question, since we really want to be open and available, on a longer term even to 3rd party developers. Right now we're cooking something with the Unique ecosystem, and we've been in the kitchen together with Paras as well, they are both NFT platforms, and some goodies are going to come out of our talks soon.
We're of course also partnering for our metaverse's engine -partnership soon to be public.
Q5: Finally before we proceed to the next segment, Can you give an overview of the Tokenomics and the Utility of the $MYRIA token?
ANS:
Starting simple, here's our token distribution. I think the slide speaks for itself :)
And here's a more complex take on the value chain.
Basically the MYRIA token will be use to mint add spaces and partake in the DAO, but it will very likely have other uses later, for instance, being staked to get land in Myriad's metaverse.
2nd Segment: LIVE Questions
So guys, we are taking another dimension today. The Questions has been preselected by the guest from https://app.stg.myriad.systems
Question1: From Cryptomouseone, Myriad social, focuses on the possibility of a much more direct interaction with the public, also offers the possibility of generating revenue depending on how good the content is published, but these features many social networks try to do, why Myriad would be different? How different would it be for the developer to generate income compared to other platforms, how would the distribution of that reward be, would the connection with the public be based on some logarithm or would it be something more personalized?
ANS: So, that's a multi-part question that deserves a multi-part answer.
About the differentiators:
First of there’s the matter of sovereignty, which is something we all keep close to our heart in the team.
Right now, “if it’s free’ you’re the product”. Unfortunately what’s happening is that huge social media platform influence the way 2 billions of ‘products’ see the world, and choose for them what should be seen or not, on the top of being the custodian of their online lives.
Then there’s the problem of monetization. You can advertise yourself on Facebook, talk to your fans on Patreon, but you can’t do both, and certainly not in a decentralized manner. So Myriad will start with the aim of ultimately being owned by its users. And right now one of the first available features is tipping, with stablecoins.
There’s a lot coming up. You can already try the app on myriad.social and you’ll see that you can import posts from various social media. User can tip those posts, and if you claim your social media timeline, you’ll get the tip. That’s of course discounting Myriad-native tipping.
About third party developers:
We want to open the platform to the community, from a technical perspective too. So after a while, Myriad will be augmentable with modules, which will allow users to customize their experience, and will allow developers to tailor ‘services’ on the top of Myriad to offer their vision of what can be done with it.
Right now of course we're a single node, because we've got to start somewhere, but as soon as the federation gets live, we're going to focalise a lot of effort into making it possible to host a custom version of Myriad. Those customizations could be cosmetic, or functional, and at some point we're even envisaging something similar to an app store :)
About content discovery:
It will be personnalised. We don't want to rely on contend discovery algos that decide what you should or should not see, but rather trust users to curate quality collections of streams (based on tags, users, native and non-native), we call those collections 'experiences', and it will be possible to subscribe to those experiences and explore content from there, from user to user to user.
Question2: From belkygonzales, "One of the main problems of social media is the clear manipulation when the ""algorithm"" promotes or benefits only those that generate more money for the platform. How will Myriad solve this problem? What changes will you make to the Myriad algorithm so that all users have an equal chance to stand out?
ANS: So I'll go more in details about this, because that's close to my heart (and to the team's)
Right now, when you want to create content you're at the mercy of content discovery algos, not just for monetization in and off itself (how much you get per views, etc) but also whether, based on machine learning, you're worthy of attention (or not).
What we've designed on Myriad consists in two things:
- Curation of content by users
- And later on, customizable filters.
The content curation will work like this: As a user, you can create collections of tags, Myriad users or non-Myriad users/pages/streams. Those collection can be public or for your own consumption only. We call those "Experiences".
When you make an experience public, other people can subscribe to it, and see what you see.
It's like saying "Oh, I like what this user likes, let's dig-in!"
From there of course content discovery will be organic.
The customizable filters will come later, probably as a module, and there it might may maybe who knows, use machine learning, but not to tell you what you like or don't like, rather to help you find topics rather than tags, and also find more topics based on whether you want to browse content that converges exactly with your interests, or rather see things you haven't seen before.
Question3: From Zakejay, In your recent interview with Octopus Network, you said the idea of Myriad is to give users the tools to prevent what we call “EXPERIENCE CRAFTING” by the network operators that control the algorithms today, can you tell us what this means?
ANS: The above is what I was talking about. How users will decide what they see, and what they show.
BUT
THERE
IS
MORE
!
See, it's all fine and dandy when users can curate their own streams better, and we really want to make that smooth and enjoyable for everyone involved. But... you know, everyone is different, and everyone has a different approach to content, right?
So how do we make in sort that you, me, or Gilang Bagaskara our awesome CTO can manage their content the way they want?
After all there's gonna be non-NFT content, NFT content, multimedia including pictures, video, auto, text... ect...
Considering that, it's good to spend a lot of brain cycles on what Ux can be the best in general, but there's always going to be a set of features some users will want -or some feature users won't use that much.
So from this perspective we'll be opening the platform as soon as possible and give 3rd party developers the possibility to work on add-ons. You want Myriad in pink? Done. You want Myriad without likes and dislikes? Done .You only want the data on the platform but with a completely different way of displaying and managing it? Done. Just write your own module.
And in the end, what we call experience now will turn into real new perspective not only from a content point of view but also from a usability standpoint. Myriad will have the potential to be the app you exactly want or need -as long as there's a module for what you want :D
Question4: From smartling, One of the products that Myriad Social invested in is the http://2dver.se. Please what is http://2dver.se all about and how does it concern Myriad as an ecosystem?
ANS: http://2dver.se is a web3 Social Metaverse as a Service.
Basically what it does is that it proposes metaverse engines, which can be cross-chain. Those metaverses are maintained by their owners, and you can of course get land there to build your gallery, metaverse-dwelling and such.
But the difference here is that what Myriad is implementing with this metaverse is the casual aspect of it, the accessibility.
And by that I don't mean just accessible for users, but also for builders.
For instance, our avatars use a system (rigging) that makes it possible and very easy to create skins as NFT, but also animations as NFT. You want your avatar to look like you, of course that's gonna be possible. You want your avatar to be a cartwheeling Kaiju? That's also going to be possible.
Beside customisation of avatars, buildings, and many other thing (someone said vehicles?) we're also working on a way to introduce opt-in gameplay elements in the metaverse, so if your community wants to use the persistant world as a map for, say, a community made, NFT based RPG, well... also can :D
The way it concerns Myriad's ecosystem: you'll be able to get things with Myria tokens. Land is the most obvious. But beyond that, on a longer term you'll be able to use your name, your chat history, your NFTs inventory and everything web3 both on Myriad and its metaverse. That includes tipping, too :D
Question5: From Haivu, Advertisers gonna be the key revenue stream for the Myriad platform, so I want to ask: 1/ What is the benefit of advertisers in Myriad social media compare with other mainstream platforms (Facebook, Youtube)? 2/ How can the platform detect the right target audience to advertise? And ensure the privacy of the target audience (users)?
ANS: Okay I'm going to take three long breaths before answering this one. Poor brain needs oxygen.
So, if you read the above, you'll remember about experiences. Advertisement is deeply rooted in this feature.
The platform will not 'detect' anything, the team has agreed to that. Why? Because right now even the best algos come up pretty often with really inappropriate ads, or display ads in inappropriate places. That's discounting the creep factor when you chat or talk about something and all of a sudden you see an add for the same thing showing up on your timeline on social media or on website ads.
What's we're going to do is to leverage experiences in order for experience curators to display -or not, ads _they_ will find appropriate for their audience.
So, say, I am a video game nerd (which, actually, I am).
What I'm going to do is first create an experience that appeals to me as the video game nerd I am.
Let's say I'm a fighting games freak, so I'll post everything EVO and Tekken 7 and Sukkgirls and all those fun titles, for other people who like the topic.
(Sorry if you don't know those titles, they're good, trust me)
So anyway, people who subscribe to my timeline, I know they'll be interested in custom controllers, gaming chairs, figthing game merch, etc...
So I'll go to an interface where all the advertisers post their ads, search for the relevant one, mint an ad space for my experience and chose the most relevant, best possible ad for my subcribers.
That said, I can have an add-free experience, too.
Why that's important for advertisers?
Because basically it's a mix of sponsorship, recommendation and classic advertising.
If, in my quality of fighting game freak, I give you an add for the BigFightingStick9000, either I already probably own it and I don't want you to pass on the opportunity, either I really like the concept. So there's a lot of authority already in play, from the get go.
CONCLUSION:
Right now, we have this fun demo, but we're going full speed here.
Next push is going to be amazing, and we're also working on a complete Ui overhaul.
We're talking a lot, but we're committed to walk the walk as well, so don't hesitate, dive in, try things, contact us if you want to partner-in, and of course if you're curious about investing you can visit right here: https://www.myriad.social/myria
Thanks a lot everyone!
Follow Us On Our Various Social Media Communities For More Update;
✅ ALL MYRIAD SOCIAL CHANNELS SO FAR ✅
➡️ Myriad's telegram channel
➡️ Myriad's website with an honest to god contact form
➡️ Myriad's pre-alpha (or 'Demo')
➡️ Myriad on Twitter
➡️ Myriad on GitHub
➡️ Myriad on Medium
➡️ Myriad on Instagram
➡️ Myriad's CEO on Twitter (I've got, like, 5 and a half followers, help me change that!)
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