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RE: What is the #1 change needed for Steem - Win $20+ upvote

in #steem6 years ago

It's very tough to put this to just one answer. If I'm doing so I think the best thing we could do to make Steem move well past $10 is celebrity endorsement / exclusivity deals. I know we already have a number of users who have a certain level of celebrity but I'm talking your A class level of celebs. People that other people live off of their words for whatever reason.

As much as I dislike this statement I believe that the majority of our population relies on reputational endorsement to determine if a product is worth holding. You can see this by new brands using the social capital of a celebrity to push their brand to new users that may not find them otherwise without the endorsement.

While this is a normal thing for us to see in the "real world" it's also been proven to me in the crypto space. Take Potcoin's deal with Dennis Rodman for his trip to North Korea back in June of this year. On June 11th the price of POT was .078 but quickly moved to a high of .098 for a 25% jump. (The price quickly fell back into it's bear trend after doing so but I'll deal with that point in a minute.)

In this deal Rodman made a tweet about the coin while wearing POT attire as he traveled. It immediately made a media frenzy with multiple mainstream publications making articles about the coin partnership. This drove new investors to the platform but they were quickly taken down by the market.

What this deal lacked was an alignment with the POT offerings. Sure Rodman may be a marijuana user but he's not a big marijuana company that would be required as an intermediary. After the quick boost to publicity there was nothing to maintain the end users attention towards POT. The reason I bring this up is because it deals with the crash that quickly followed the POT pump and how we would need to structure the deal with our chosen celeb.

That is why I bring up an exclusivity with our chosen mainstream celebs. They would need to agree to move their content away from all other social sites to only Steem based dapps. This would not only create the same media frenzy we seen from the POT partnership but would create longevity to the deal since the celeb's user base would need to have a Steem account to interact. This would immediately cause the creation of a ton of new accounts that would be seeking to continue following their idol. Not only that but once they came to realize their level of SP influenced their visibility to their celeb we would see a level of buying that I don't feel we've seen to date.

Another part of the deal that I would recommend is requiring that the celebrity be paid, in part, through post rewards. This would be in the interest of creating a domino effect with lower end celebrities. As our A class celeb begins posting we ensure they are upvoted to certain level from a whale collation. Not only would they receive that payout they would certainly receive 1,000s of upvotes from the fans they brought along with them. Now if I'm a B level celeb and seeing this I would immediately be following their progress. If they continue earning $1,000s of dollars for the same postings I'm giving for free to Twitter or Instagram then I'm going to look to follow their example. While this B class celeb may not be forced to be exclusive it will be in their best interest to follow suit so we would now be gaining a whole new social circle that we didn't have access to before. Again as their following realizes that SP affects their visibility then we have another situation where users begin buying to be seen by their idol.

All of this doesn't include the social capital that Steem would raise. We would immediately be granted with a change of perception from the every day user the way any normal celebrity endorsement works. Now end users can see themselves doing it since everyday people often image themselves like their idols.

Just my .02 but let me know your thoughts! :)