Behind Binance's launch on Messenger is an unconcealed social ambition

Start with payments and advance to the social circuit.

Original author: 0xAYA

Today,BinanceAvailable on the iOS storeBinanceMessenger has caused quite a bit of controversy in the crypto community, and people are speculating whether Binance will personally end up on the social circuit.

In response to this issue, Daily Planet Daily sought evidence from Binance staff. The other party responded, “This product is invitation-only. It has been online for a long time. It is planned to be used by major customers. Currently, an invitation code is also required to use the app.” Binance founder CZ also wrote that Binance Messenger is a small internal app for testing. It's not news, and it has nothing to do with the new product announced yesterday.

During the Friend.tech fire, there were rumors that Binance would set up a related Socialfi project to participate in the market. In addition, Binance has also invested in a number of social projects back and forth, and launched the Binance Plaza feature this year to enable social interaction within the platform. The speculation that Binance is entering the social circuit from a payment perspective has not stopped, but what are the intentions of Binance and CZ themselves?

The social circuit shows potential for development

On February 1st of this year,TwitterThe founder of Jack Dorsey posted a tweet announcing that it is based on a distributed social media protocol Nostr The social products Damus and Amethyst are already on the Apple App Store and Google respectivelyGooglePlay Store is online. Damus then announced that it would passBitcoinLightning Network randomly distributes small amounts of bitcoins to users, and plans to launch a Bitcoin reward feature for posts in the next version.

During that time, the WeChat circle of friends and Twitter were all full of public keys, and people couldn't wait to get on this decentralized social networking train.

In August, Friend.tech (FT for short) once again brought traffic to the decentralized social circuit, and the network of interpersonal relationships transformed intoKeyThe social pricing strategy has made FT a big success. According to Dune statistics, up to now, the total revenue of the FT protocol has reached 14,250 ETH, with a cumulative total of 11, 988, 858 transactions. At the same time, FT's activity has also enabled Socialfi to compete against strong competitors such as Tomo and New Bitcoin City.

CZ is scrambling, and Binance is eyeing

Both CZ and Binance have expressed interest in the social circuit on more than one occasion.

As early as 2020, CZ tweeted that he and Binance's official Twitter account were greatly bothered by Twitter's account locking feature. When netizens proposed that “Binance should create an independent cryptocurrency social media”, CZ responded: “I'm looking forward to itVoiceThe release, and Vitalik's work in this regard.” And the story after that -- Vitalik chose to keep the platform relatively closedFarcasterVoice, on the other hand, completely disappeared over time.

Binance is firmly on Musk's side in Musk's acquisition of Twitter last year. “We're excited to help Elon achieve Twitter's new vision to expand the use and adoption of crypto and blockchain technology,” CZ wrote in an email. Meanwhile, CZ tweeted: “As part of the transaction, Binance has remitted approximately $500 million, which is the amount of the previous Binance agreement to participate in the Twitter takeover.”

A Binance spokesperson said, “As a Web3 infrastructure company, we're looking forward to bringing new solutions to some of the problems inherent in the Web2 ecosystem.”

At the end of last year, CZ responded to questions about the board of directors. He said he would be willing to join Twitter's board of directors if invited by Elon Musk, but he also stressed that he would await more detailed plans on how Twitter can make more full use of blockchain and cryptocurrencies, and joining the Twitter board is not the most important thing.

Furthermore,Binance LabsIt has also invested in many Web3 social circuit projects, such as Hooked, Paragraph,CyberConnectIt is hoped that these projects will actively explore and transform existing social networking models and establish new social networks based on open social maps, NFTs, and token economics.

epilogue

Binance's trend on the social circuit has attracted much attention. Whether it's Binance Messenger this time or other social projects it invests in, it has all sparked a buzz in the market and users.

As the trend of integration between cryptocurrency and social networking continues to strengthen, Binance's future development on the social circuit will become the focus of the industry's attention, and people are also looking forward to the birth of “Web3” WeChat.

Let's wait and see how Binance will show its influence and innovation in this field, bringing new possibilities to the cryptocurrency community.