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What if TikTok, Instagram, or Twitter were open for anyone to innovate on? Enter Tapestry—a groundbreaking protocol that’s about to change how we interact socially on the blockchain. Here’s why it matters and how it could reshape the digital world.
What’s the Big News?
Tapestry, a Solana-based social graph protocol, just raised $5.75 million in a Series A funding round. This means investors like Union Square Ventures and Fabric Ventures believe Tapestry could be a game-changer in the crypto and tech world. With this funding, Tapestry is now valued at $35 million in equity and $70 million for its token network.
But what’s Tapestry, and why should you care? Let’s break it down.
What Is Tapestry?
Tapestry is like the infrastructure for social apps in the blockchain world. It helps developers add social features to their apps, such as messaging, profiles, and interactions. Imagine apps like TikTok or Twitter but built on a blockchain where data isn’t owned by a single company but is open and decentralized.
Here’s the kicker: Tapestry is built on Solana, a blockchain known for being fast and cheap. By using state compression technology, Tapestry dramatically cuts costs for storing data, making it nearly free to mint NFTs or manage social interactions. This tech makes Tapestry stand out, especially compared to competitors like Farcaster or Lens, which operate on Ethereum-based networks.
Why It’s Important
- Decentralized Social Networks: Right now, big companies like Meta (Instagram) or Twitter keep all your data. Tapestry flips the script by letting users and developers control the data.
- Cheaper and Faster Apps: Solana’s unique technology makes Tapestry apps cost-effective, paving the way for new social apps that are accessible to more people.
- Open Innovation: Developers can use Tapestry to create apps that improve upon existing social media. Think about personalized versions of TikTok, Instagram, or Twitter that work better for specific communities.
How Does Tapestry Make Money?
Tapestry uses a freemium model, meaning developers can use it for free at first but pay for advanced features. Later, a small fee for data transactions may be shared across the network, ensuring sustainability and rewarding contributors.
What’s Next?
Tapestry plans to expand beyond Solana into other blockchain ecosystems like Aptos, Monad, and Berachain. It’s not trying to compete with Ethereum but to dominate where Solana excels—speed and low costs.
Steps to Understand and Build Upon This Knowledge
- Understand Solana: Learn why Solana’s speed and cost advantages make it ideal for protocols like Tapestry.
- Explore Decentralized Social Graphs: Research how they differ from centralized systems like Meta or Google.
- Keep an Eye on Tapestry: Follow how this protocol grows and impacts blockchain-based social apps.
- Think Bigger: Imagine the potential of decentralized apps beyond social media—how could they change gaming, e-commerce, or even education?
Key Words to Remember
- Social Graph Protocol: The structure that connects users and interactions in social networks.
- State Compression: A tech innovation reducing the cost of storing data on a blockchain.
- Freemium Model: A revenue model offering basic services for free while charging for advanced features.
Why Should You Care?
Tapestry represents the future of decentralized social networks, giving power back to users and developers while enabling innovation. It’s part of a broader movement in crypto to break the monopoly of tech giants, making data and social interactions more democratic.
Understanding this helps you see where blockchain tech is heading, giving you the edge to spot trends, make smarter trades, or even build your own decentralized applications (dApps). This isn’t just tech—it’s a revolution in how we connect and create online.
