Reimagining Decentralized Social Media: Insights from Memeland CEO

In the 46th episode of ‘s podcast, Ryan Chan, the CEO of Memeland, a Web3 venture studio developed by 9Gag, discusses why they are focusing on Web3, the significance of decentralized social media, and the potential impact of social finance (SocialFi) on Web3 development. Chan shares his personal experience of purchasing high-profile nonfungible tokens (NFTs) during the peak of the bull market and gaining access to exclusive crypto communities. Prior to launching Memeland, Chan gained recognition for his NFT acquisitions, which allowed him to learn from industry experts within the top NFT collections. Although he experienced financial setbacks due to buying many NFTs during the bull run, the knowledge he gained greatly influenced Memeland’s approach to Web3.

According to Chan, the term SocialFi may not accurately represent the developments happening in the Web3 space. He argues that this term implies a focus solely on merging social media and finance, whereas these platforms aim to disrupt the creator economy as well. Chan suggests that projects within the SocialFi ecosystem should position themselves as providers of the “creator economy on blockchain” to better convey their purpose. He also believes that decentralized social media is still in its early stages and has not gained significant traction yet. Currently, most users are primarily interested in earning opportunities, but Chan is optimistic that as more people enter Web3 through social apps, the landscape will evolve. He notes that social apps are easier to attract new users since almost everyone already uses some form of social application, whereas trading applications have a narrower user base.

To listen to the full podcast episode, it is available on platforms such as Spotify, Apple Podcasts, and TuneIn. offers an extensive collection of informative podcasts on their dedicated Podcasts page.