Is Web3 the Future of Social Media? - Ray Chan| ATC #504

In this enlightening episode, our host Stephen Sargent has an engaging conversation with Ray Chan, the CEO, and co-founder of 9GAG, a widely popular platform for sharing memes. Now he's bringing us Memeland, a project in the Web3 space. This interview dives deep into the corners of building social media platforms in the age of Web3, exploring Ray's vision for the future of tech, content creation, and the importance of community in the growth of a platform. From the early days of 9GAG to the exploration of cryptocurrency and blockchain as Ray delves into the Web3 ecosystem, this episode is chock-full of insights for entrepreneurs, tech enthusiasts, and anyone interested in the evolution of the digital world.

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Chapters

• 0:00 Introduction and Guest Introduction
• 1:13 The Journey of 9GAG and Memeland
• 2:20 The Impact of Social Media on Popularity
• 3:20 The Birth of 9GAG and Its Mission
• 5:44 The Challenges and Successes of Building a Startup
• 7:20 The Role of Y Combinator in 9GAG's Journey
• 7:39 The Importance of Community in Web3
• 12:24 The Introduction to Cryptocurrency and Web3
• 14:42 The Concept of Proof of Fandom
• 19:43 The Transition from Web2 to Web3
• 22:05 The Vision and Strategy of Memeland
• 28:16 The Role of Blockchain in Social Media
• 35:36 The Power of Community in the Digital Age
• 36:16 The Economics of Scarcity in Content Creation
• 36:50 The Rise of Web3 and Crypto in Decentralization
• 38:05 The Challenges of Building in Web3
• 38:44 The Impact of Money in Web3 Communities
• 39:53 The Struggles and Triumphs of Entering the Web3 Space
• 45:16 The Future of Tokenomics for Creators
• 54:59 The Rise of Web3 in Asia
• 1:03:38 The Future of Memeland and Web3 Creators
• 1:08:15 Final Thoughts on the Web3 Journey