What is Only1?

What is Only1?

Only1 is the first NFT-powered decentralised social platform built on Solana. We help creators monetize without third parties via creator staking pools. Our native token and NFTs grant holders unique access to the creators, ability to govern the platform and rewarded for doing so.

Problem: Traditional Social Platforms are Broken

Creator Economy 

On centralised social platforms, advertisers pay the platform for user's attention. On decentralised social platforms, platform pay users for their attention. Creator economy is the incentivisation structure for user-generated content. Content creators on Youtube are under constant pressure of censorship and demonetisation, while creators on platforms like Instagram and TikTok often have to rely on third parties (affiliate links, merchandise sale, paid shoutouts etc) to generate income. For a lot of the creators, social media is their full time job and their reward should be determined by their content and engagement with their fans.
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Algorithms & Authoritarian Control 

Discovery algorithms are built with parameters to prioritise commercialisation of the corporation and sometimes to serve some political agendas. For example, certain cartoons are banned in China because it resembles a political figure. Also why show you a picture of your friend’s new Samoyed if they can show you picture of an attractive person that will eventually convert you to buy into that fitness program advertisement? It is difficult to balance freedom of expression and safety of the community, it is for sure too big a power and responsibility for one corporation. The future of social is community-governed.

Key Components of a Decentralized Social Media

Only1 is the first NFT-powered decentralised social platform built on Solana. We help creators monetize without third parties via creator staking pools. Our native token and NFTs grant holders unique access to the creators, ability to govern the platform and rewarded for doing so.
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Fair Creator Economy

A DeFi (or SocialFi) structure that pays content creators for simply being active on social media providing value to the audience.
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Social DAO Governance

A decentralized autonomous organisation (DAO) that regulates community guideline and platform development balancing safety of the community on the platform, and freedom of expression.

Why now?

Blockchain Scalability Catches On

In terms of web3 social, Only1 is not the only one (ba-dub-tss!). Web3 social media is not a new idea, many have tried, and many have failed. To achieve a truly decentralised social media, we require a scalable blockchain such as Solana to enable micro-transactions. A social network can only take off with a huge amount of users, value of the network to each user grows as the number of users grow, and $50/transaction for gas fee will never achieve this level of adoption.
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NFT as vehicle to penetrate mainstream markets

When users say they are in it for the decentralisation, or be part of a revolutionary paradigm shift, what they really mean is they want to 2x their bags. However, we believe this is changing! As blockchain technology matures, more and more users are actually using DAPPs because it solves a real life problem. Look at Audius for example.

NFTs are all about the art, culture, and digital ownership. Such a trend has helped crypto penetrate mainstream market now more than ever.
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Why Solana?

When choosing the blockchain to build on, Solana was the simple choice due to scalability. With the cost of gas fees, most blockchains currently doesn’t have the capacity for mainstream creators and fans to afford the transaction fees paired with buying an NFT. Solana solves this.
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Backed by the Leaders in Blockchain

Only1 is backed by reputable companies in the blockchain industry, including Alamade Research, Genesis Block Ventures, Liquefy Labs, NGC Capital, PetRock Capital, a41 Ventures, Satori Research, Ellipti Ventures and more.
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The future of social is web3, and we are here to make the internet a better place.