The Potential Of Leofinance
Innovation is key in this arena and it seems that what is coming out of Leofinance is going to be incredible.
In listening to Khal on the weekly AMAs, it seems we have a lot of great ideas flowing. Whether they are all his or now really doesn't matter. What is important is that it looks like many are going to be implemented throughout the year, which will be a major boost to the platform.
Ultimately, we are involved with Web 3.0 which is a clean slate. Through tokenization, there are things we can do which do not exist elsewhere.
In this article we will cover some of them.
This is something that is very Web 2.0.
There is no doubt that subscriptions are very popular around the Internet. We see many on the likes of YouTube asking for peopel to support their Patreon channel. Of course, with Hive we have a way to cater this to Web 3.0 ends.
One of the things is we are dealing with our own token. This makes the interaction and engagement much different. We also are dealing with a community that has a vested interest in all that is taking place. Honestly, does any individual Patreon users really care about the success of that platform? With Leofinance, anyone with Leo Power cares.
Subscriptions adds another layer of earning to Hive. This gives content creators another entry into pulling revenue into their wallets. This is key to help make these platform stands apart.
This one was covered in detail so no need to delve into it deeply. Leofinance put out a number of posts about it.
The bottom line is that the Internet is still filled with ads. We can debate the future and whether this will persist. However, for now, they are a big part of most websites.
Leo looks to tap into this by using ad revenue to reward those staking LEO. This is a way that ad revenues become a community initiative. Anyone with LP is going to benefit.
Posts As Threadstorms
This is an idea that is really fascinating.
Imagine writing a post, something to the tune of 600 words. The post is submitted on Leofinance as always. Hence, it shows up in the recent section.
So far, so good.
Then, you flip over to LeoThreads and you see your post there. The platform took the information from the long-form content and broke it up into smaller sections. This will have the header thread with the rest of the article broken up into replies. This is akin to a Twitter-storm.
What purpose does this solve?
Well, to start, the individual can have that post voted upon. In other words, it is a way to garner a few more rewards.
This also helps to increase the amount of activity on-chain. Imagine a post being broken up and placed into LeoThreads. That could be 20 or 30 threads in one instance. Increasing the numbers of transactions on Hive is crucial and this is a great way to do it.
Finally, if the new UI, which we are told is thread-centric, takes off, we could have many users who are only in the thread section. Here is a way to get one's content in front of those people even if they do not visit the long-form section.
The key is to provide more tools for content distribution. If one's work is in more places, the greater the chance of being seen.
This opens up some enormous potential.
We can't go into all the possibilities here since it is too diverse. However, mentioning a couple ideas is not a bad thing.
One idea is what Addidas did with their NFTs. How about a set of LEO NFTs? Under this circumstance, people purchase the NFT using LEO. Perhaps this is a burn situation where much of the LEO ends up in the null account.
The NFT becomes a key to receiving promotional merchadise. Therefore, by holding the NFTs, one can receive shirts, coffee mugs, or whatever else is created. This is the way one can get a return off the NFT.
Another idea is to offer a special access area to different NFTs holders. Within this section perhaps there is premium content. Another way to use it is by adding greater voting weight in governance issues to the NFTs holders.
In other words, the NFTs are created with the intention of tying some type of utility to them. Instead of just being speculation, it is something that actually can be used for things. In fact, one idea is to have the NFTs holders share in the ad revenue. Maybe a certain percentage of that is directed each month (or whatever the interval is) to the NFT holders.
This is one that I am tossing into the idea pool.
How about a Leofinance trading bot? It is obvious from the one's developed for the arbitrage of HBD, this team can make one.
It is another instance where funds can be driven by the NFT idea. One gets a hold of the NFT and this provides a certain percentage of the profits. The bot is designed to trade different assets and arbitrage. The initial funding can be used for the seeding of this.
As revenues are generated, a certain percentage is doled out to the NFT holders. Maybe it is a 50/50 split, with half being retained to grow the trading account.
This really brings value to the system if the trading is happening outside of Hive. Trade different markets, say Bitcoin, and then use the profits to swap and buy LEO. This what gets distributed to the trading bot NFT holders.
It simply becomes another revenue stream for the Leofinance ecosystem.
The Everything App Is A Business
We talk a great deal about the everything app. While this is pertinent, especially after Elon Musk boldly claimed that is where Twitter is going, it is crucial we still apply basic business concepts.
With tokenization, it is easy to fall prey to believing that monkeying around with that is the only thing required. Sadly, as most are finding, this is not the case.
Increased activity and users spell network effect. Here is where value in the digital world comes from. However, Leofinance can enhance it with revenue generating ideas. The ad revenues is a good one, yet more need to be added.
Picture tens of thousands of dollars a month coming in from the outside in revenue that is used to buy LEO and either burn or distribute (depending upon the focus of the aspect of the platfrom).
That creates steady buy demand while other aspects of the Leo world are expanding.
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It's nice to see all of that there but I just wonder when things will happen. The ad revenue was mentioned a long time ago but I still haven't seen it being used. I guess it doesn't matter because I am still building though.
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Wonderful explanation and these are the excited things. Right now my work is to keep on building but knowing these type of things motivates me.
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