The Atem Network is a Singapore based web3 startup which aims to create the perfect overlap between decentralization and social media based trading. Using Atem users can communicate, trade, and govern in a p2p secure group space, powered by NFTs. With the launch their chat plugin in 2022, users can complete on-chain transactions within AtemChat itself.
When we think of social media, privacy isn’t one of the first things that come to mind. In fact, user’s privacy is one of the main and most heavily-supported use cases of blockchain-based technologies, and Atem is a company that aims to leverage the web3 experience to give users a decentralized community and social trades.
Atem uses encryption & decentralized storage to preserve privacy
The setup of Atem allows the user to give up as little information as possible from the very beginning. Messages sent by users through the Atem network are encrypted in the short term and are then stored at a decentralized source in the long term. As a result, not only can members of Atem channels see the messages sent to them, but even the Atem staff cannot view them.
Groups of users are selected based on the non-fungible tokens (NFTs) and other digital assets that they already share, though they can create their own channels within those groups. Several blockchains, including Ethereum, provide publicly accessible information that is used to filter out users for groups based on digital assets. A user’s digital assets also give them access to specific emojis that can be used when interacting with the platform. As well as features for regular social media interaction, Atem also offers tools for social trading.
Atem’s private social trading does not require name, e-mail & phone number
The social trading in this case refers to users trading digital assets among themselves. In most cases, users would need to set up multiple accounts to buy and sell NFTs on NFT marketplaces. Atem allows users to bid on, auction, and send NFTs, as well as cryptocurrencies, to themselves through the chat function. Atem accounts are linked to existing wallets, so transfers can be made instantly. You do not need to provide your name, email address, or phone number.
This is more convenient than the current system where users need to own the specific cryptocurrency of the NFT marketplace they wish to use. Having bought the cryptocurrency, users can bid with it, but if their bid fails, they are stuck with tokens they only bought for the purpose of bidding. Atem eliminates this process.
Atem is also based on the classic blockchain system of DAO governance. Atem’s ecosystem allows users to vote on changes. In contrast with other centralized social media sites that make changes without much user input, Atem lets users make these critical decisions. Since the incoming Web3 systems heavily prioritize users having more control over the internet, this is very important.