The past several months have been incredibly hectic. Between the launch of Leodex and the 2 subsequent upgrades that we did, along with numerous updates to our Condenser interface AND the addition of Leopedia, Leoservices and other projects, the launch of Leoshop kept getting pushed further and further back.
This was due to the many fixes and tests that needed to be made. We wanted to make sure that Leoshop was as ready as possible for launch and so I made sure to test every aspect of it that I could think of.
Now, it's finally time to launch Leoshop V1. More updates will come which will bring a wider portfolio of features, but version 1 of Leoshop still has A LOT to offer. There are a lot of things that can be done on the Leoshop and we've integrated it as deeply as possible into the Steem blockchain.
Buy & Sell Digital Products and Services on the Steem Blockchain
When we set out to create Leoshop, it was a simple idea. To allow users to upload digital downloads and sell them in exchange for LEO.
In the process of building Leoshop, we realized that it could be a whole lot more than that. Out of the box, we could offer users the ability to choose to pay with either STEEM/SBD or LEO.
Additionally, we've added the ability to write reviews that are stored on the Steem blockchain, dispute charges through our escrow services and even sell digital services.
Some of the highlights for Leoshop's blockchain integration with Steem are:
- Storing product data on the blockchain
- User reviews using Steem blockchain accounts
- Escrow functionality on the blockchain
There are going to be hundreds of questions on how Leoshop works and how to use it. We've set up a docs page to help guide you through the main features and intricacies of Leoshop.
Are You A Digital Product or Service Provider?
If you sell any kind of digital product or service, we urge you to list it on the Leoshop. This project is brand new, so there are only a few products and services available on there right now, but we expect this to change quickly.
Products are priced in USD. When a user buys your product or service, they pay the current conversion rate for STEEM/SBD/LEO into USD.... i.e if you sell something for $10 and I buy it from you with LEO, then I pay $10 worth of LEO at the current conversion rate.
Private Access Digital Downloads
When you upload a digital download (like an Ebook) to Leoshop, it is stored as a private digital download. When a user purchases your product from the shop, they gain access to a download button on their "Orders" page which allows them to privately download a copy of your ebook.
A Long-Term Value Prop
The long-term mission of Leoshop is to provide a hub for Steemleo users to buy and sell products. One of the most common complaints on Steem is that many authors tend to make lackluster rewards from upvotes.
If you look at traditional blogging websites -- like Seeking Alpha, for example -- you can see how authors make money. They don't make money from upvotes. They make money from selling access to private online courses, trading groups and digital products like Ebooks.
Why should Steem be any different? Why should upvotes be your only source of income as a blogger, vlogger or user of Steem?
Instead, we see the future of Steem(leo) heading in the direction of authors who build an audience (just like other social platforms) and then leverage that audience to sell a digital product/service or access to the author. The beauty of Steem is that we get to do this all on the blockchain.
When a user buys your product, you can see that on the blockchain. When they review your product, you can see their review on the blockchain...
Let's Kill Centralized Fees
Along with this long-term value prop begs the question -- why would any seller choose Leoshop over something like Seeking Alpha's marketplace or Fiverr or insert online marketplace here?
I don't think that users need to choose. Why not have the option to do all of the above? One of the primary benefits to selling on Leoshop, however, is that the fees are only 1% to sellers.
If you look at the fees paid to companies like Stripe, Paypal, Ebay, Seeking Alpha, etc... sellers are paying anywhere from 5-50% of their sales as fees to these companies.
On Leoshop, we keep the fees low and the fees collected end up burning LEO anyways, which only helps everyone in the long-run.
Where to Start?
There is just so much that goes into Leoshop. It's by far one of the largest projects that Steemleo has ever worked on... maybe the largest of them all. It's taken months of development, testing, planning, writing, etc. to get to this point.
It's impossible to explain every nuance and granular detail of the Leoshop. I hope that you take the time to explore it and grasp the possibilities as we continue to iterate on top of this version of the Leoshop. It's amazing when you think of the possibilities for a digital marketplace that is built on the Steem blockchain.
Posted via Steemleo