Nowadays, the social networks has become a part of our everyday life, not only as a tools for communication and making new friends, but also for running a business. By opening a profile on any social network, you have agreed to share your private information with the world. Every day, over half the world’s population, spends an average of 2 hours and 27 minutes on social media; however, the attention, interactions, engagement, and generated data are monetized by a few centralized entities and their shareholders.
The current social media landscape is referred to as Web2 – a platform where users are the product, content is king, and centralization is the norm. Most users give their data to the platform for free, and thus to advertisers. Advertisers pay platforms to reach you, “bombard” you with daily ads, and most of that “cake” belongs to the platform.
With the growth of social networks to monetizing data has become increasingly difficult, and more and more users become just "silent" observers and “food” to their platforms.