Brilliant post. Some great points made.
I dont know why SMTs arent being discussed more but they are crucial for the growth of the ecosystem. Im starting to feel like the developers completely gave up on SMTs and will try to push this 2 layer dapp idea.
Id rather they dont, but HIVE so desperately needs a business model and a vision which ive been advocating for so ill take that if we get nothing else.
What is the message wer sharing about hive now?
Well, if you look at what the community has been repeating everywhere is that HIVE is a place where you cant get censored, and that has no CEO, and where you can earn some money.
Awesome.
But what does that say to the investor or a project leader, a dapp developer?
NOTHING.
Its good to spread the word about Hive which the community will do but in the end this is just pointless fluff that might attract idealists but it wont attract a large number of investors.
NFTs are a interesting feature but with HIVE not appealing to larger masses of crypto users NFTs wont be able to attract more buyers and NFTs will mostly act as means to move Hive from the hands of 1 hiver to the hands of another, not doing much for the price.
HIVE needs to rebrand itself. Being a place where you post some stuff, get a few votes, take some inflation from the reward pool doesnt work. Basing your business model on the reward pool has shown to be an atrocious business idea as shown in the case of bots, in the case of Utopian, etc.
do you have any more concrete ideas as how this rebranding could look like?
Read my last post and a few of my last few comments.
Here on Hive we have a very advanced and generally speaking fair distribution system for rewards. But this is only one half of the equation.
If we increase the user base at this stage, the only thing which will happen - the price of HIVE will dive even further.
But there is the second part which is being born as we speak. Allowing companies to bid for attention of users, by posting rewards offers directly on the blockchain. Hive frontends can personalize these deals for users based on their eligibility and receive processing commissions for brokering these transactions.
Hive open blockchain has a lot of user data that can be used for targeting. For example, your profile has an Expertise section (https://www.waivio.com/@lordbutterfly/expertise) which shows how important are different topics for you (based on your history of author and curation rewards). Each offer can have different eligibility parameters listed.
In order for the user to submit a qualifying post/comment/json to the blockchain, they must use their keys, thus providing a confirmation, that particular action was done by that specific user.
This way companies can be certain that it was the targeted user, who actually posted/confirmed an action. But at the same time attention trading process gives users full control over selling their own attention and makes them the main beneficiaries in that process.
It is no longer done through intrusive advertising, but rather through voluntary engagement be the user with direct action-based offers from companies, which are aggregated in the Rewards section of the site. User may chose to browse them at their convenience, follow some sponsors, ignore others, set thresholds for rewards, etc.
Attention trading works well in a distributed environment. And now, growth in user numbers will not longer lead to the drop in the price of HIVE, but instead will create a positive demand for HIVE from companies, which buy tokens in order to reward users.
This way users receive payments besides inflationary rewards. Some users will cash out these rewards. But as long as some users will still keep earned HIVE in the system, the overall balance will be positive. This is a very powerful driver for the price of HIVE.
These two parts of the system will work as a perfect tandem with the price of HIVE balancing inflows and outflows from that system.