Resonate (RESO), a decentralized social NFT platform for users to enjoy an AI-powered social experience in an environment free of malicious actors and agents, is launching its first version on the high throughput and machine learning integrated Fetch.ai as per an update on March 3.
Resonate Social to Launch in AI-Powered Fetch.ai
According to the press release, the first iteration of the Resonate platform will allow users to mint and trade NFTs derived from their posts–including videos and images. However, unlike traditional social networks, users will take full charge of their social experiences and have their privacy secured by the Fetch.ai blockchain while profiting from their posts which can be traded as NFTs.
The distributed ledger is differentiated from others, incorporating Autonomous social agents allowing Resonate users to fully customize their social feeds depending on their preferred level of privacy, social clout, and applicable platform-driven tokenomics.
Tokenizing and Converting Social posts to NFTs
The Resonate development team opted for the Fetch.ai blockchain because of their fusion of multiple autonomous agents and tools helping simplify the social experience, continuous building, and planned activation of the Inter-Blockchain Communication (IBC).
The IBC is an open-source protocol for transmitting secure messages and seamlessly trading assets across independent, heterogeneous blockchains. After the activation of the IBC bridge, Resonate Social holders would easily exchange assets via Reswap with Fetch and other blockchain tokens.
Based on the solid layer provided by the Fetch.ai blockchain, the creators of the social platform are confident of their capabilities of linking social networks with NFTs from a protocol-level while concurrently simplifying the NFTs market for “easy, social-focused creation and trading of NFTs.”
Commenting, the CEO of Resonate Social, Abhinav Ramesh, said:
“We chose to build on Fetch because of its AI capabilities and the upcoming IBC (Inter Blockchain Communication) integrations that are happening with Fetch. We are creating Resonate because we feel that there could be a protocol-level linkage between social networks and the inherent properties of an NFT, kind of like combining the best of social media and NFTs.”
“We felt that there is a need to simplify the NFT market to enable easy, social-focused creation and trade of NFTs. Resonate helps users easily create NFTs at a very low cost and brings about comments/likes/shares on the NFT within the same platform.”
Artificial Intelligence Meets social media And NFTs
The Fetch.ai network is sufficiently equipped to cater to the demands of the decentralized social network platform. A big part is because the blockchain is highly scalable and secure, allowing for quick processing of transactions within a scalable and private ecosystem. For these capabilities, Resonate Social will, in turn, release a dApp enabling trusted interactions with users, allowing them to trade NFTs and instantly gain agency of their social experience.
Most importantly, the ability to customize feeds and tune artificial intelligence bots to fit the users’ tribe is critical in an age where social networks have been weaponized to disseminate propaganda and misinformation.
Resonate Social’s integration of AI in a base layer that’s inherently adapted for machine learning makes for a personalized and consensus-based AI-curation keeping users’ feed trusted and clean.