No wonder STEEM is going up steadily, going towards 7$ per coin and gaining on new increases slowly. Although STEEM is a blockchain based coin like the majority of coins, this neat digital currency is rocking with 1.5 billion dollars in market cap thanks to its purpose of monetizing content published on the internet.
How is STEEM working on monetizing content and turning it into $$$ and where does STEEM stand at when it comes to making investments and operating with this coin?
Media and Information – New Monetary Values
Media and information, given that the internet is the largest and the most visited database ever to exist, can be without any hesitation marked as a form of value that can be monetized. Media, as we all know, regardless of having information being broadcasted on television, internet or ending up in the newspaper, has a massive influence on people, creating targeted audiences and trading with information in exchange for attention – that attention can then turned into a monetary value.
If you think about it, you share content almost every day and even more than a couple of times per day when using Facebook, Twitter, Instagram and similar social networks. Many people are also paid to do so – but what if all people involved in sharing, distribution and commenting would be paid for their contribution to add value to content?
That is how STEEM is focusing on turning shared content across the internet, turned into value. This is without a doubt a fantastic idea given the fact that we rely on Google whenever we are looking for answers – whatever we need to know we can just type it in and see minimum 2.5 million results brought to us in the matter of a second.
Although we find this phenomenon not a phenomenon at all, having all that info available on the fly and at any time is a privilege. In order to show appreciation for content writers and people who are working on distributing and sharing original and useful content, STEEM is monetizing content by giving it value through a network called Steemit.
Steemit launched in 2016 during the beginning of summer with the idea of having community members with accounts on Steemit sharing and distributing content. Steemit thus became a global network for sharing, disseminating and commenting on exciting and engaging content and anyone who would like to join is invited.
The reason for having Steemit created and launched was to give a purpose to STEEM coins and tokens as these digital currencies are being used on Steemit to reward community members who are working on distributing, sharing and commenting in different content. By having the community members involved in these actions, they are earning money in the form of STEEM tokens that can be used for making transactions and purchasing different services and items where purchase with using STEEM tokens is possible.
So, in case you enjoy reading and commenting, or you like writing and sharing original content, Steemit might be just the right thing for you. Steemit is supported by blockchain technology and is powered up by official STEEM tokens. Besides from being able to earn through content and media, you can also make transactions and keep you STEEM coins safe in their official wallet.
All transactions are transparent to the users making those same transactions, while there is no third party involved, consequently providing users with zero fees and fast and prompt transactions that are based on the decentralized platform. Only two sides are connected while transactions are made.
Whether you like STEEM for its price or you would like to join Steemit and write your way towards filling up your STEEM wallet, the team behind this coin is undoubtedly proud of their purpose and the way this coin is made to work.
Where is STEEM at Now?
STEEM seems to be doing well even in 2018 as this digital coin has experienced an increase of value raising its price per one coin for almost 11% the last time a change was noticed in the value of this coin. The current price of STEEM coin is 6.19$, going slowly towards having 7$ per one coin and potentially promising that this coin might grow for a couple of hundred percents during the current year.
The total market cap of this digital currency is currently over 1.5 billion dollars with nearly 247 million STEEM tokens in circulation and use. This coin is presently ranked in 35th place on the global coin list and with constant rises in price and value, this coin might even join the top ten list in the future with big guys like Ethereum, LiteCoin, and Bitcoin.
Given the fact that STEEM creators have made an entirely functional social media network named Steemit, that is involved in distributing, sharing and creating original, useful and engaging content, the value of this coin will probably rise. With the rising number of Steemit community members, this is more likely to happen as sharing content and earning money for it has perhaps never been more accessible up until this point.
The purpose of Steemit is to create a massive database of sharable and exciting content while rewarding writers and community members involved in sharing and distributing information by providing them with STEEM coins they could later use for transactions, trading and making exchanges. If STEEM was to continue with walking this path, it could soon become one of the most interesting digital currencies on the market.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of coinmarketcap.com
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…