Progress Update on 3Speak Development
In this episode, TheyCallMeDan provides an update on the progress and future plans for 3Speak, the decentralized video platform built on the Steem blockchain. He begins by discussing the ongoing promotional efforts for Steem, highlighting the success of initiatives like the Andrew Yang and Quora campaigns. Dan encourages viewers to share any other ideas they may have for promoting Steem through the "promo Steem" program.
Turning to 3Speak, Dan outlines several upcoming improvements to the platform's content delivery and user experience. This includes a more personalized feed based on user subscriptions and engagement, as well as the introduction of a curation section to help new creators gain traction. Dan emphasizes that 3Speak is not aiming to simply match YouTube's capabilities, but to fundamentally surpass them by offering features that empower creators.
A key focus is the platform's token-based monetization model, which includes both a utility token and a governance token. Dan explains how the governance token will receive a share of the inflation from the utility token, allowing token holders to earn passive income. He highlights the potential for creators to monetize their own communities by issuing and burning their own Smart Media Tokens (SMTs) to promote content.
This "burn to promote" mechanism is seen as a major advantage over traditional social media platforms, as it allows every user to become a potential advertiser. Dan contrasts this with the current state of YouTube, where creators must "beg for crumbs" and have no real say in the platform's direction. In contrast, 3Speak aims to give creators true ownership and governance over the platform through their token holdings.
Dan emphasizes that the current bear market in cryptocurrency presents an opportunity for Steem and 3Speak to gain traction, as people are looking for projects that are actively building and innovating. He believes that by getting Steem's name out there now, the platform will be well-positioned to capitalize on the next market upturn.
Reflecting on his own passion for the Steem ecosystem, Dan encourages viewers to find their own burning passion and to fully commit to it, even if it means taking risks. He believes that the ability to chip away at a meaningful goal every day is the true essence of a fulfilling life, and that Steem provides him with that opportunity.
Overall, this episode provides a comprehensive update on the development of 3Speak and the broader vision for Steem's role in the future of social media and content monetization.
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