It stands for Smart Media Tokens. These are coins that other people can launch but are built and backed by Steem. You can read more about Smart Media Tokens here
Eventually, any website publisher will be able to add the same functionality to their websites that Steemit.com has and reward people for interacting with their websites.
Because every new coin that is issued is backed by Steem, these website owners will have to buy and hold Steem to issue their own coins. This increases demand for Steem and keeps it out of circulation reducing its supply and increasing its value or price.
Very good time to be holding Steem and Steem power.
Omg that sounds fantastic Oo
I'm getting super excited of the future after reading all of this hehe.
I think i have to do some research right now :) thank you
Btw i've earned my first 15 pennys because of your upvote. A thousand times i want to say thank you mate :) After i have noticed it i danced in my room for a minute to celebrate generating money in the internet for commenting. Thats just awesome <3