Everything You Need to Know About the SocialFi Platform – Million

A brand-new generation of decentralized social media platforms is a cause for debate as we still navigate through the infancy stages of Web3. Amid all the excitement and buzz, there is also a wave of apprehension and doubt about issues with government regulations, risk, and the growing bear market.

Million is a new social media platform, set to launch by the end of this year. The application is built on a decentralized finance model and allows users to have digital ownership of their content. What makes the social platform different from the existing players' market is its E2E model, which means content creators and their followers can create, collaborate, and share content in the form of videos, images as well as NFTs while generating passive income.

Communicate sat down with Julien Hawari, CEO at Million, to further understand the platform’s approach and functionality.

How is Million different from the existing social media platforms? What new does it bring to the table?

The business model, the approach is completely different. Million has a vision set for the future. By putting the creator’s community forward, we are allowing them to create and consume content while also generating income. The fundamental difference between Million and Instagram, Facebook, or TikTok is the presence of blockchain. We realized that there was a massive gap in the market that was not addressed. No one had the tools to address it. Million allows creators and their followers to create and sell NFTs on Million, not only are we introducing a revenue stream for creators but we’re also bridging the gap in the market between the capabilities of Web2 and Web3.

Since Million is a decentralized platform and uses elements on a blockchain? Is there any pre-requisite knowledge creators need to have before they register on Million?

We are based on a decentralized model, which means users can produce and own their content on the blockchain. NFTs are an addition to the existing forms of content on Million. Therefore, creators are required to link their digital wallets to the application. As Million, we ensure to guide our users through every step, we’ve taken all the complications in regard and built the journey in its simplest form. It is an amalgamation of elements from Web2 and Web3.

It is essential that every user is comfortable with the fact that they are their own master. To keep their assets safe, we are committed to reminding our users to keep their passwords and other private information to themselves.

How does the E2E – engage to earn concept work?

A user on the platform who is scrolling through content, engaging with it, and sharing it, will be able to generate an income. Million has its own token called Milz, while content creators can create their own social token, their followers can receive tangible and intangible products and services like NFTs and more. These tokens can be purchased by users to hold or sell at a later date, with the potential to increase in value.

The way we work is that we go from the principle that it is their image and business which they can run with their rules. They are in control and take the call on selling something at a price that is suitable to them. It is their decision, not ours. We are the platform, we bring the tools, and seamless experience for the users.

Is there a privacy or data preservation policy set in place for the social media platform? If yes, how is it going to tackle sensitive content?

We’re launching in the MENA and the region has strong laws for data sharing and censorship. Million is going to remain compliant with those laws. We have a dedicated team who investigates these issues. The application’s algorithm is already embedded with expertise to flag inappropriate or sensitive content that might be uploaded. So, I believe that our risk on that part is limited.

Million is far more than a technology platform, we’re evoking emotion and enabling fans and followers to build a relationship with their favorite celebrities and influencers online.

There is a lot of apprehension about putting data on the blockchain today. How is Million going to prove itself to become the first-of-its-kind social-fi platform in the region?

The proof is in the pudding. As we continue to grow, we’re onboarding new talent. With the launch, you’ll see more and more users connecting with Million, the proof is in our action plan. Million is truly a transformational platform that allows content creators to monetize their content while also having control over their data.  

Today, any project that we work on, has a risk. As the lead on this project, I will continue to ensure that while we keep up with the latest trends, we’re also listening to our users and living up to their expectations.