Philcoin Launches PhilSocial to Revolutionize Social Media, Reward Users and Transform Social Platforms to Do Good for Society

PhilSocial is a decentralized social platform that ties engagement to charitable giving. Users can earn Philcoin (PHL) and NFT rewards for interacting on the platform while supporting causes that drive real-world impact.

Philcoin is launching PhilSocial, a decentralized social platform that will reward users for their engagement and contribute to charitable causes.

According to a GWI report, the average social media user spends about two and a half hours a day on different platforms, which accounts for more than a third of their daily online activities. This creates a $300 billion annual market for social media, but content creators and influencers only receive 8% of the revenue. However, the average user rarely benefits from the time spent, earning zero dollars despite spending hundreds of hours on social media each year.

PhilSocial aims to create a social network where everyone benefits, Lopez said during the beta launch in Orlando. "You don't have to be an influencer or a content creator. Through this platform, an ordinary person can reap the benefits of social media and blockchain to participate in a new digital economy."

PhilSocial will introduce a built-in philanthropy feature that ensures users contribute to charity before withdrawing their rewards. The blockchain-powered social media platform, powered by its parent app, PHILApp, will offer more than a "mindless scrolling" app, transforming how social media influences the world.

Jerry Lopez at the PhilSocial beta launch in Orlando (Image: PhilCoin X page)

Built-in philanthropy: Give to earn

PhilSocial introduces a unique "Get2Give" model that turns casual social media interactions into charitable opportunities. The platform simply converts users' interactions, such as chatting, creating content, playing games, or referring friends, into rewards, which are paid out in the native Philcoin (PHL) or NFTs. The rewards are credited directly to the users' decentralized wallets.

However, PhilSocial adds a built-in philanthropic layer, a unique feature that only allows users to unlock their rewards once they have donated to a cause on the platform. This 50% 'philanthropic fee' can be donated to an existing initiative or used to launch a new one. Only after making this contribution can users claim the remaining rewards.

Philcoin has already created a real-world impact, for example, with the platform's support, the Cabécar "Chirripó" Tribe in Costa Rica received essential infrastructure, including roads, schools, hospitals, and telecommunications facilities. As Jerry Lopez has repeatedly stated, "Philcoin is not just about digital currency; it is about creating economic opportunities."

Built for a purpose, built for privacy

In addition to revolutionizing social media through philanthropy, PhilSocial ensures that users retain complete control over their data. Built on Polygon, it leverages blockchain technology to guarantee privacy and decentralization, unlike Web 2 social media platforms, protecting users from third-party data exploitation.

Moreover, users can utilize the rewards for real-world applications. PHL and NFT rewards can be used to purchase real-world goods and services on the platform or transferred to external wallets. This gives the rewards practical value. Users can use them to access exclusive content, purchase products, or donate to causes they care about. They also benefit from AI-assisted content creation, with an integrated AI model helping users effortlessly curate and create engaging content.

Part of a growing ecosystem with more to come

PhilSocial is more than just an app; it's an integral part of the expanding Philcoin Web3 ecosystem, joining PHILApp. Together, these platforms form a social ecosystem that rewards users for their participation and contributes to global impact.

As Philcoin continues to build its ecosystem, users can expect even more ways to earn, engage, and give back, ushering in the next phase of Web3 innovation.