Ok, this is major news. I will start with the most important bits:
- Global Blockchain Technologies Corp announced a non-binding agreement to invest $20 millions in the upcoming SMT technology prepared by Steemit
- the investment will be made both in tokens (
newly launched SMT's, that isSTEEM tokens, that is) and in US dollars - the investment aims at supporting startups that will use this ecosystem
For the standard PR announcement you can either start with @ned's tweet, or read the news at source.
What To Expect
More visibility for the Steem ecosystem entirely. The amount of investment is big enough to generate a lot of momentum.
Since the investment is not directed into Steemit but into startups that will use SMT , the beneficiaries will probably be satellites companies, or companies that will receive a hybrid participation from both Steemit INC and GBT. Still not clear how this will be implemented.
It's the first major news about an investment in Steemit (since the legendary @laonie's investment of 400 BTC, which, today, would be around $2.6 millions).
Markets didn't react too strong to this one, but it's also a bit early. STEEM is trading around $0.92.
Exciting times ahead!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
Resteemed for you. I fully agree. This is major news. Cheers and thanks for the heads up.
I'm glad you noted the reaction of the markets. I got a little too excited for my own good last night and kept checking... Steemit certainly teaches patience.
It may be too early or the news may be already priced in.
I'm super new to this entire world—the Steemit ecosystem as well as cryptocurrency—but my formal training is in memetics (an opulent way of saying I study memes); I cannot believe how sophisticated the Steem blockchain is. I'm a lefty and now I feel like a "trader" in some vague sense of that word b/c the blockchain is so philosophically engaging, being truly designed (and not planned?).
To return to your point: I think it's a combo of being too early and already being priced in, but also that this stuff is simply too complicated and unfamiliar to people that markets aren't reacting to day-by-day news, not as they would with any other commodity or currency (crypto and not). I posted last night about the bigger picture as I see it from a meme currency point of view, which is all I could do to keep myself from looking for more information lol
It's true that this is way more complicated than other ways of doing social media. This is not your regular Facebook thingy, that's for sure.
On the other hand, those who are really versed in this may suffer from a bit of "information overload". It's simply too difficult to catch up with all the news from all the projects you are interested in. So, almost paradoxically, markets may react slower than the actual businesses.
Amen. I feel like I need a fan in my brain now that I've been active here!
wow excellent news, well if that's true then it surely gives SMT's an huge kick start which is essential for the SMT's, thanks for sharing.
That is fantastic news...Really needed something like this since the Red Zones of Steem. I hope and believe this is surely gonna take Steem up from its stagnant 0.9USD status. Sigh of Relief!!!
STEEM ON!!
I think the news is important beyond the potential immediate appreciation of STEEM, as a currency. It proves interest from institutional investors in the SMT technology and that may have way, way bigger impact than a 10% gain of the token in the next few weeks.
Or at least that's how I see things.
Wow i've been inspired by this. Thanks for the article addressing how the money is generated. I really needed that
Wow! Good to hear..
I voted for you and followed you, you will vote and follow me
Resteemed for you. I fully agree. This is major news. Cheers and thanks for the heads up.
Hay man it's real great news for steem and it's seems like that it do support the price of steem and thus also help steem to grow
Disclaimer: I am just a bot trying to be helpful.
thanks good information
Resteemed! This is awesome!
That's a huge investment coming in !!!
It is really a great news and it will surely pump up the steem price.