SocialX will probably begin their ICO this or early next month. Date is still TBA beacuse they want both the alpha out (so that people can see the work they are contributing to) and all the legal work completed (including KYC for ICO contributors).

What is it and why should one consider contributing?

It will be a social media network for pictures, videos, live streams and encrypted messaging; implementing zero-knowledge-proof and steem-like upvoting sistem with superlikes; crypto-instagram of some sort. You can check more about the project on their website (https://socialx.network/) and from whitepaper (https://socialx.network/whitepaper/). They are available every day to answer any questions on their slack. Latest news, just a few days ago they partnered with ZenCash (https://socialx.network/socialx-meets-zencash/). Specific information will be released at a later stage.

I believe the project has great potential - Social interaction rewarded with tokens and users decide what content gets rewarded simply by using superlikes instead of regular likes. Superlikes are costless, but limited number is to be available daily. Superlikes will not be available in alpha. Also, it is a legally registered company. Tech part of the team has experience in making a social media project. Alpha is being tested internally at this point, but should be released to slack members soon.