Abstract

Updated: 8th March 2025

The Flaws of Centralised Social Media/Attention Economy: A Broken System for Creators, Users, and Brands

Social media has revolutionised global communication, with over 5.7 billion users spending an average of 2 hours and 31 minutes daily on various platforms (source). The industry is projected to reach $466.56 billion by 2029, growing at a 13% CAGR (source). Yet, despite its rapid expansion, the current landscape is plagued by fundamental flaws—where centralised platforms prioritise profits over people.

Opaque algorithms dictate content reach & visibility, limiting creators' reach and engagement. Monetisation remains highly skewed, with platforms taking the lion’s share of revenue while retaining full control over content and user data. Creators often wait months to earn, with delayed and unfair payouts—all while battling arbitrary censorship, shadow banning, and sudden account suspensions that can erase years of work overnight.

Meanwhile, content consumers, who drive engagement and fuel platform growth, remain completely ignored in the value equation. Their data is exploited without consent, and they receive zero incentives despite their critical role in the ecosystem.

Even Web3, which promised decentralisation and user empowerment, has largely fallen short. Many so-called "decentralised" social platforms still rely on centralised infrastructure, failing to address the core issues of transparency, ownership, and fair incentives.

The need for a truly decentralised, user-driven social ecosystem has never been greater.