I think we could give steem real fundamental value and it wouldn't require getting steem on some shady exchanges to do it!
What if we could get popular bloggers and influencers to come to steemit.com or dtube and actually stay here?
We have had our fair share of internet celebrities kick the tires on steem and steemit only to leave shortly after...
Now why is that?
Well, in most cases it is due to the quality of content having no bearing on its rewards.
That's fine, I mean with the current setup, it is how it is. Steemit.com basically is a UBI platform.
The more stake you have the more UBI you get (and yes I know UBI is not technically the correct term here, but I am going to stick with it anyways).
Well, that setup has discouraged those with large followings to make steemit.com (or dtube) a permanent home.
I mean who wants to see a whale's cat picture make 100x more than my amazing viral video that had 20 million hits on youtube?
(Source: https://steemit.com/steemit/@lifewithcrypto/make-steem-great-again-steemit-community-unite)
Ok, so how do we fix that without turning everything on its head?
I think if steemit.com would implement ad revenue sharing and/or allow individual blogs to sell ad space that would go a long ways in attracting influencers and keeping them here.
Then votes in steem would simply be like tips on top of what they are earning based on views and traffic.
Now we suddenly have an incentive for influencers to show up, produce great content that drives more viewers, while also earning a fairer income for their work.
And steem votes just become gravy at that point.
It might be a slow start at first getting this implemented, but I think if steemit,inc or some other well financed individual were to pay a couple influencers to get setup here and help drive traffic, and then we implement ad revenue sharing, I think this place could absolutely take off.
People want to leave youtube and some of these other platforms, but they need comparable income if they are going to do it, and upvotes alone on steemit.com have proven inadequate and likely won't be adequate even with communities and SMTs when they eventually launch.
I understand that we may have to wait until there are scaling solutions in place before we can go this route, but I sincerely hope this is on the roadmap for steemit.com as it could literally change everything.
Anyways, let me know your thoughts in the comment section below.
Stay informed my friends.
-Doc
This is in the same vein as simply giving the content creators more control of their property. Another idea I've had on this front is optional curation on a sliding scale.
If anyone can choose the curation for their content (0%-100%) it will make this place much more interesting. On top of that, Resteems are super important for getting more views. A referral code could be given to resteemers and users who click their resteem are tracked to them. This would allow us to start curating (distribute visibility) in more ways then one.
At it's core, curation is sharing income in exchange for visibility and we could be doing it a whole lot better.
Those are some interesting ideas. That would provide and additional revenue stream as well. We need more of those for sure.
I have an alt account called @steempatron attempting to address this very thing. I'm identifying accounts on STEEM with large followings outside on traditional social media and trying to keep them rewarded/engaged. I am also attempting outreach on personalities who have been on here previously and left or not at all.
That is a nice step, but likely won't be enough unless you are delegated a huge chunk of steem, which as we have seen seems unlikely.
Well, I guess it's better than just talking about it. No offense, but there's an awful lot of that going on here, and not a whole lot of action to show for it.
For sure, like I said it is a nice step. We just need to go a lot further and it would help if we had Inc's help.
If STEEM were a traditional company, they'd have a marketing arm with a shit ton of SP giving influencers upvotes and delegations, and especially large ones for talking about STEEM to their followings. The grassroots level focus thus far on STEEM for helping the little guy, which is worthy of praise of course. But there's a massive horde of little guys just waiting to funnel their way in through these influencers. The influencers that have remained are doing it as an also ran. Why should they evangelize this platform if their reception is tepid?
Exactly, they shouldn't. Why they haven't even tried to go this route is puzzling. My guess is because things couldn't scale efficiently? That is my hope at least, otherwise I don't have a legitimate guess for them...
Might want to keep an eye on Scot.. custom site will have some nice ad options.
I will be following it. You guys are doing a lot of good things on here, keep it up!
hats off you sir
I need a MSGA hat 🧢
If you get one, send me one too.
Resteemed so it could reach to the @ned and other team members of steemit ;) amazing idea.
Thanks!
This is the best idea I have heard in ages. Seriously, it's simple and I think it would work
Sometimes the simplest of ideas are the best ones. :) But seriously, if we can make this happen, I think it changes everything.
It's an out of the box'r which doesn't rely on algo changes to the reward distribution or whacky things like that. That's what I like to see. It had always been about content and people saying that content which is why it's such a good idea. Now here hoping someone sees it!
We will try to keep getting this idea in front of their eyes as much as possible.
Yeah, it’s the best idea you’ve heard since I wrote about it two years ago!
https://steemit.com/steemit/@ats-david/advertising-revenue-and-distributions-on-the-steem-blockchain
And then reminded people about it five months ago...
https://steemit.com/steem/@ats-david/we-need-advertising-revenue-you-say
lol
Ned shot it down two years ago. Now he certainly doesn’t care, as he’s likely on his way out of STINC. But I guess we can keep dreaming about things that won’t ever happen.
Also - I feel like I should have gotten some author credit for this post. :)
Keep up the good fight!
I think the more the community voices their opinion about getting something like this implemented, the better the odds it actually does.
Influencers will not make the same level of income here without invest they own money...
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That is why ad revenue sharing is crucial.
Great Idea! I want to add few more points.
First of all, Steem's inflation should be deceased for rewarding the content creators. Current inflation is not keeping up with low demand. If Steem did not have relative high inflation, it would easily sit at top 30 in CMC.
Steem's Inflation should go to protocol developments, witness compensation and PoS interest (2-3% vs current 8.5%). Rewarding content creators should be done with SMTs. STINC can launch their own SMT and share profit from ads with celebrity creators by SMTs.
Steem Investors can earn TOKENs through RC/SP delegations. @steemhunt is already showing a good example. Creators and DApps will figure out optimum synergy with a token.
All the front-end DApps can try their own SMTs with different distribution technique. Finding a sweet algorithms to rewarding the best content is more than rocket science. A former founder, @dan thinks that he can fix it, I totally disagree.
DApps with SMTs can try different algos. @steemhunt, @actifit, @dlike and others are already experimenting. Steem's inflation and broken rewarding is helping its price.
Some good ideas in there. Have you got any of these in front of Inc?
A lot of the inflation comes also from the Steem Dollar (SBD) pegging, which is not ideal especially in a bear market.
The inflation rate of steem includes SBD emission, no?
Yes, SBD emission is included, but the problem is SBD is like debt which can increase or decrease depending on the market situation. If SBD and STEEM prices fall, converting SBD to STEEM can create additional inflation. This is what happened / happens during the past bear market.
Do you men if SBD falls below $1 but the total market cap is less than 10% of that of steem's? Or what market conditions are you talking about?
yes, exactly, if SBD falls below $1, people can still convert their millions of SBD to Steem, which can increase the Steem inflation a lot. Exactly that happened during the bear market. Unfortunately there is no function to convert Steem back to SBD if SBD rises above $1.
Well, do that math. There is only 9 million sbd in existence, of which $9 million worth of steem is accounted for. Any excess steem that is created due to the spread between sbd and 1 dollar is minimal. Especially considering there are 320 million steem outstanding. I doubt that even increases the overall inflation rate by 1%.
@nonameslefttouse floated this a few times over the last 1.5 years
Steemit.com has only just had ads for the last handful of months (in spite of him and many others claiming they should have done them years ago), so it was more pie in the sky back then. Now perhaps something can be done about it.
I can't imagine that they are making large amounts from it, not enough to compare to YouTube anyway.
No, which is why they will need to get a couple set up on here to help drive more traffic here which will in turn allow them to charge advertisers more. It's a snowball effect. Just have to get in motion...
Sounds good the snow Ball effect..
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That was just thinking about something like that the other day. This Platform needs to generate more revenue for itself through outside influences and having advertisers use it would be great.
I could imagine that the individual Steen bloggers could not have ads on their page if They wanted to or if they did not want it, it wound not be.
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Sharing the revenue is key if they want this place to grow.
yes, Yes, YES!!!
HOW i wish ned, dan and other shareholders read this too
They may, just have to spread it around and talk about it enough. :)
Nice write up
I would go one step further (or two):
Set aside a large amount of steem power to upvote content creators that bring new users with the caveat that the new accounts need to be bought. Whoever brings new users get larger votes.
Condition the content creators to keep their vested steem powered up.
I actually wrote a post about that:
https://steempeak.com/steem/@onthewayout/how-to-create-demand-for-steem-using-social-influencers
I personally don't think you will keep large influencers here with just the upvote model. Their pay changes too much with the fluctuation of the currency and isn't reflected in the popularity of their contributions. Which is why ad revenue needs to be part of it.
That's why in the post I mentioned that ad revenue would be part of the model.
I was just going off of what you mentioned above, if it includes revenue sharing I am all for it!
very good ! thank you
There are a group on STEEM that have built a free speech streaming platform. It is new but will be uncensored and available for people that have been forced off of other platforms. They are going to head hunt a few of them and try to get some publicity and people. https://3speak.online/
Interesting.
Yeah...the whole ads thing with sharing revenue was the plan with people suggesting it to Steemit...at least when a few suggested it. Hopefully they're working on better implementation of their ads and implement some form of revenue sharing as well.
I am hopeful that it is...
Good idea but what happens if it actually works and the price of Steem goes back up to 10 dollars?
Than the income thru votes will become dramatic more valuable and reduce the impact of advertising.
The second thing is that advertisement is not the fundamental unique function of Steemit and the Blockchain Steem. It would seem to me more like they can't run Steemit.com properly and now they need advertisement as a second incentive.
I'm much more in favor of Steemit.com gets de-coupled from the Steem reward pool and will become its own SMT Token when SMT project is ready. If we could achieve the reorganize the reward pool for all dapps and projects on Steem than Steemit.com would be just one Dapp of many others. And users could freely choose on which dapps and communities they want to participate.
The reward pool should be distributed to SP holders, Witnesses and Steem Blockchain and Dapp Development.
In that case, they are still earning good money from advertisers and if steem takes off users likely explodes as well, which would in turn make ad revenue greater, which would in turn attract more influencers. It could all feed on itself. Steem taking off wouldn't be a negative even if influencers are relying on ad revenue.
Yes, it probably better than going with the current system. But what do you think in general to seperate the Steem Reward Pool from the Application Steemit.com?
I think long term this will be the better solution.
It probably would be yes. It would also help to differentiate steemit.com from steem the blockchain.
I agree with the idea and I have given this a lot of thought even wrote a post about it a while back. Being a marketer with publisher experience I know this won't be an easy road/fix but it can be done.
Just thinking about how to track users/(who opt in) to view ads, plus matching contextual ads with users, + allowing users to sell direct ads, + being able to exclude certain network ads, + being able to have user numbers with context to sell to advertisers is going to be a a monumental project.
It will surely make steem more attractive, advertisers will also have to hold and buy to continue advertising hence raise the price. they will also need a presence and reward interaction from users and can create a much more personalised connection which is what we will be moving to as traditional sites start to squeeze influencers and brands reach.
The idea has merit but what I'm afraid of is that the execution is poor. I'd love to be part of a project like this it could be a game changer
Try to get in touch with the developers or anyone at Inc. Let them know you'd like to help and have experience in the area. It appears they could use some advising.
You can add a ad to your post using @dclick already
In fact here is a post I put up 6 days ago with a ad on the bottom of..
https://steemit.com/steemsilvergold/@davedickeyyall/groundscore-1557165903792
So far I've made .05 off ad clicks..
Yes, I've known about that. It doesn't do nearly enough though. We need influencers to make money based on how popular their content is overall, not just clicks.
Congratulations @jrcornel!
Your post was mentioned in the Steem Hit Parade in the following category:
Thanks.
You're welcome @jrcornel
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This is quite possible as the SMTs alone could attract many of those influencers that have a entrepreneurial mindset to help them through networking and engaging with followers which could also drive them here to the ecosystem.
Possibly. But the revenue won't be there to start with which is what is going to be the biggest driver... it's one of those things that is tough to get rolling but once it does, it builds on itself.
Thanks.