Tanglepay has unveiled GroupFi, a new protocol that uses IOTA’s Shimmer technology to revolutionize Web3 social interactions. GroupFi is positioned to challenge social giants like Facebook, opening up a new avenue in the billion-dollar social media market. The protocol operates as an open-source platform, utilizing IOTA’s Shimmer technology to create an ecosystem for Web3 social products. Its debut feature, a ‘trollbox,’ is slated for release in the last quarter of 2023. This chat box will be integrated into multiple websites, allowing users with matching tokens and NFTs to chat seamlessly across different platforms. GroupFi takes advantage of Shimmer Layer1 technology to offer a feeless and scalable solution, employing a dual-chain structure that is compatible with free messaging and Ethereum Virtual Machine (EVM). This hybrid model opens up vast opportunities for the protocol, especially in the billion-dollar market of social interaction and engagement.
GroupFi is uniquely positioned to challenge the likes of Facebook, paving the way for a more decentralized, transparent, and user-controlled social media ecosystem. With its innovative approach, GroupFi promises to redefine social interactions by leveraging token and NFT-based protocols, taking direct aim at established giants like Facebook.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 8 |
| People | ToTheMoooonXRP, Sam |
| Companies | IOTA, Shimmer, GroupFi, ToTheMoooonXRP, Ethereum Virtual Machine (EVM) |
| Currencies | IOTA, Shimmer, NFT Stars, Ethereum, Bitcoin |
| Securities | None |
