8. Benchmark analysis and market profile

What’s new at FLIIST?

TL; DR: FLIIST is a social media platform that integrates peer recommendations with the crypto sphere.

This puts FLIIST on a par with the new Web 3.0 type of social networks, recommendation services and UGC platforms, with monetization based on the native token FAV.

Research and Markets (August 2021) estimates that the digital social interaction networks market is growing at a rate of 25.38% per year and will reach nearly $1 trillion by 2026.

Defying algorithms: social media platforms, recommendation services and lists

In the mid-2010s, the first papers on social media fatigue appeared in the business and academic literature Then, in 2019, “instastress” — Instagram stress — was coined. and scientists began to draw attention to the dangers of aggressive consumption of social media content triggered by its algorithms.

COVID-19 has had an impact on the consumption of digital content. In the era of forced remoteness and lockdowns, the user has no desire to switch between services, as ecosystems are replacing platforms.

This problem is even more critical for lists and selections: all types of content need to be accessible in one interface.

This is how the demand for ecosystems that leave the user with more options to shape their feed without falling into a digital bubble was formed.

Market Research. Nobody has created something as big.

Let's have a look at our Web.2.0 competitive landscape.

Vero.co

Founded: 2015

A multimedia social network with a feed formed without hidden algorithms, on a chronological basis.

Pros: no ads, established audience, ecosystem (entertainment social network + messenger with video calls + music service)

Cons: the ambiguous reputation of the founders, extremely low ratings on Google Play and App Store.

Likewise

Founded: 2018

A recommendation platform for movies, TV shows, books, and music.

Pros: the startup was launched with the personal support of Bill Gates, has a minimalistic interface and significantly increased the user base in the first wave of the COVID-19 pandemic, with high marks in marketplaces.

Cons: Users criticize UX and unreasonable policy of personal data collection.

Kit.co

Founded: 2015

Technical equipment-recommendation platform.

Pros: simple interface, established community, clear monetization channels

Cons: Too niche, tools for YouTube bloggers prevail.