There is a trend that appears to be picking up steam of late. It is something that was common in the traditional media world and is now entering the cryptocurrency world.
This trend has to do with information and segregating it. What we mean by this is the idea of putting content behind a paywall.
Most of us are aware of how this goes. Go on a site like Reddit, Coingecko, or CoinLogic, see a heading of interest, click and get hit with the need for a subscription.
Naturally, this is something that can be very frustrating, especially if people have a yearning to learn.
The reality is this model must work since so many are doing it. Information has value and entities, along with individuals, are looking to extract it. Therefore, they put a price on said information.
This goes in contrast to the notion that information wants to be free. Whether this is valid or not can be debated. However, what is certain is that Hive is altering this completely.
Source
This On Top Of Advertising
We all know the primary business model when it comes to the Internet is advertising. This is what made the social media giants like Google and Facebook so valuable. They were able to generate the network effect, which eventually became monetized through advertising.
Of course, this is not pleasant for the user experience. Most of us know the frustration of watching a 30 minute video and having it pause 3 times for adverts. Yet, that is how YouTube operates.
This is how these applications make money. They decided to make their content free and then leverage the eyeballs for financial gain.
What about those entities that do not have a billion accounts? Here is where paywalls enter the picture.
Those with content they believe has value are going to charge for it. After all, this is a very old way of conducting business. Newspapers, for generations, gave people the option of getting a subscription as opposed to paying for each edition. There was a discount given to the former along with the perk of home delivery.
Much of this could be attributed to the fact there was a cost to create each copy of a newspaper. Not only did the content have to be created, but it was run of on presses.
The Internet brought the concept of digital into our lives. Here there was no variable cost associated with each new "copy". Nevertheless, they still want payment.
Naturally, they did not turn their back on advertising. Those who do pay are still hit up with adverts which, presumably, generates revenue for the site.
Hive Disrupting Information Completely
Blockchain was revolutionary in that it provided a way to have a decentralized ledger which no single person controlled. This was one of the innovations that Bitcoin brought to the table.
Hive takes it one step further in that it allows long form text to be part of the ledger. Thus, we are not dealing with financial transactions, similar to a bank. The data housed on Hive looking similar to Facebook or Medium.
The disruption that we can see entering the picture comes from the combination of the base layer along with Layer 2 solutions. When we analyze the impact of both coins and tokens, we can see how the old model is quickly made obsolete.
We like to toss the word community around. However, this is very important in this context. When communities are tokenized, they have the ability to become an economy. Thus, those who are engaging in the creation of content are able to get rewarded.
Over time, as more communities form around this concept, the level of expertise in particular areas is going to rival the mainstream sites. Using the Hive mind concept, there is no way a single journalist who is going to be able to generate information that rivals what 10 or 20 professionals or hobbyists can put together.
Thus, not only is the information available for free, the quality of it, in terms of the knowledge conveyed, is far superior.
Of course, we are remiss if we didn't mention the economic structure. The ability to compensate based upon the Proof-of-Brain model, especially at the community level, is unparalleled. Under this scenario, the community is effectively rewarding those producing the information.
This is the essence of Web 3.0. Here we are merging the distributed ledger technology (DLT) with cryptocurrency to arrive at a completely new business model.
The other piece is ownership. We have a community that is incentivizing this behavior because it wants to add more value to the economy. With the ability to stake, individuals have a financial interest. This means rewarding those who add what is deemed valuable is to the benefit of all.
Under this model, we see the need for paywalls eliminated. In fact, this goes counter to what the community wants. With the "attention-economy", these groups want eyeballs. Anything that can attract readers, viewers, or users is desired.
This is akin to not only being a writer for the newspaper but also having an ownership stake.
Here is another example of a business structure that Hive can disrupt.
The links found in this article can be found at the LeoGlossary Main Menu. Optimizing content on Hive is important for growth by feeding in organic traffic to the different front ends.
If you found this article informative, please give an upvote and rehive.
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The paywall model has been a very effective model that businesses have leveraged at the cost of the users who didn't have much option but to bear with it. With Hive, this model has been disrupted and information is now 'democratize' and 'free'.
Businesses have to up their game if they want to stay relevant in web 3.0, old models do not apply here.
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That is true. We are going to see an entirely new model applied to this next gen Internet.
Businesses will certainly need to adapt.
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Hive is so much more than a web3 platform as it simply enables startups and projects to get shape at a fraction of the costs of regular businesses. You need a good idea, perseverance, and courage to jump on it, and might change your life.
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There is a lot being offered on chain here. We are going to see the applications start to make an impact.
That is why someone like me can start something like @leoglossary. It is a permissionless network.
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Stake of Ownership and a fully dicentralized community are unmatched. Disruption is inevitable and hive is going to explode as more people learn about and start using it
They are pieces of what is coming, not doubt about it.
The internet is going to get a makeover.
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in comments is interlinking even worse. it's like " hey visit may website spam" from crawlbots.
On search engines are also blacklists for keyword spaming. ratio with keyword to link and so on.
If the number is to high, domain ends up as a spam domain and becomes "worthless".
Certainly spamming is not the intention and focusing upon a few keywords is going to get flagged. However, there are tens of thousands of posts on Leofinance, with keywords throughout them. Many of them do not have anything linked to them.
I do agree highlighting cryptocurrency 45 times in the same article is a danger. That does nothing and only makes things worse. However, internal linking of hundreds of words, all within a realm a genre is not keyword spamming.
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it is, I do SEO for now over 10 years.
Keyword interlinking must be contextual and topic relevant. Linking every word is not smart. Special the keyword ratio on links becomes artificial.
If leo comes into sandbox with some keywords I can guarantee you those sites will NEVER rank in google.
Sure if only you do it, it doesn't matter. But dont forget your content is high ranked on peaked and friends because of rewards.
So it devalues hive as a complete network ( in Google and other PageRank algo search engines)
I just say it.
And btw, as more links you place, as weaker the single link becomes.
Basic SEO. And users should not be focused on SEO optimization, because then the content can fast become very toxic.
I know it, you can almost give up a blacklisted domain. Every SEO guy can tell you the same ( sure you can remove, but that's hell out of work, sometimes close to impossible).
2-3 keyword links at maximum. Remember Keyword links.
Generics like " here" or "click here" "to the page" don't matter.
Basically you are right but I just asked myself whether it will really work out for the content creators… If one posts (good) content visible for all on the blockchain and everybody, also people outside the blockchain, can view and read it, what is their motivation to join and also reward/upvote the author of the content? They can just consume and leave…
You know what I mean? Bit hard to explain by writing.
By they way THAT would be a great functionality if we could send little audio messages via Hive to other users (public and private). Just like in other messengers.
Why do readers have to reward the author? Isn't there a system in place for that?
We already do the rewarding on here and communities will add more to that. People are already receiving LEO, CTP, and other tokens for their content.
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Things will become increasingly better as adoption of web 3.0 picks up. It's a pretty bright future ahead imo.
Can't wait for the day where the old business model of data stealing is gone.
A much as I love Web 3.0 and believe in the potential, you might be waiting a while on this one.
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Fully aware, but hey, it's good to have some hope 😅
I hate pay walls. They are so annoying. I usually run into them about once a day when I am trying to read specific articles about a number of different topics. You can't really avoid them either because they apply them to all different genres and subjects.
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Cant aruge with anything you said here. I experience the same thing.
I was baffled when I saw it on a crypto article. Blew me away.
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Sometimes I think Hive is like pacman, haha!
t does seem that way at times. We are still early but the different things that a decentralized database with applications tied to it can disrupt just keeps growing.
Now it is a matter of bringing that stuff to market.
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Coingecko have been working on my nerves lately with the subscription even after doing that twice already not only is it frustrating it is annoying wanting to access a site and the paywall pops up.
This I sometimes think about with Hive as a content creator and consumer with tokenization all around it, it just gets how almost every activity on Hive earn us cryptocurrencies
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I havent run into paywalls on there, only some of the articles they link. It is annoying. Hive is a better place.
Leofinance needs to start getting the right kind of crypto news together. We are going to see a lot of changes over the next year.
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advertising is definitely what moves the world in terms of money, so #Hive has arrived to break traditional paradigms
I want to clear up that that there are no subscription models on the actual Coin Logic site or any of our internal articles, in fact you can log into the comments section with your Hive account and upvote directly from there...
Can't necessarily speak for our outside news sources though like AMB Crypto, Decrypt.co, and Bitcoin.com. All other outside sources are from leofinance, :) This is why we are working on trying to beef up the internal content!
But thanks for the shoutout!
no problem. It is a great resource. And I didnt mean to imply that you were offering paywalls. It is to outside articles, the challenge with linking.
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Yeah for sure. I have been considering just removing the outside resources as most of them really just repeat each other and just focusing on bringing in curated content from LeoFinance and promoting that. Everytime I get into a content creation rhythm, life happens and throws the groove off, lol.
May need some of my daughter's adderall, lol.
Thanks for the feedback though!
Just take a couple more bong hits.
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Interesting! I have always hated paywalls. Access to information should not be restricted because of money. At the same time, creators and publishing houses should be able to make money. Hive solves this!!!
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Yes it does but it is the way things are. We are seeing a new model being developed by Web 3.0 and Hive.
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Paywalls tend to turn me right off. Generally I hit them on sites I would not use regularly anyway, so there is no way I want to pay a regular subscription. If I could exchange a Hive vote for access to an article that would be a different matter. I guess they would need to make it so you cannot remove the vote later. There is definitely potential there.
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I see it and hit the X on the tab immediately.
There are a lot of Web 2.0 people turning to annoying tricks. Perhaps I will write an article about that too.
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If you get to an article with a paywall, you can use archive.is to search to see if the link has already been archived, or archive it yourself, and the paywall goes away.
Exactly ! I can peacefully watch any SPK video of my choice on here or read any article I want without bothering about any restrictions or unsolicited ads!
I keep thinking about alternatives to OnlyFans that use a different model to centralised services that put your content behind traditional paywalls.
Is there a way to build a Hive front-end that only displays a piece of content after it has received $x worth of upvotes?
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Doubt it, in any creator system there are people who take up most of the capital, youtube, google search, facebook, and rightly so the best get filtered to the top, so why would they want to risk their income by being paid in inflation that requires liquidity coming in to realise the gain
In addition, the longer you hold it the longer you're being diluted by all the subpar content creators in the community
Finally, there are already services like stacker news where people can tip content creators and wallets like alby that people can use to stream sats to websites where they consume content and only pay for what they read in a pay per scroll model
So no, the pay wall model isn't going away it will always be there and this won't be the solution
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I think Hive would do well but I am not sure it can really get away from the paywall method so long as we are part of the fiat system. After all, if someone needs to take out funds, they will convert the crypto into fiat. Of course, Hive offers better options compared to a site like Twitter that doesn't even let you earn anything from posts.
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I think we have great potential to combat the subscription model. One challenge we have that’s significant is to have the ability to allow good journalists to be on the platform, and not downvote their content to oblivion, and try to keep the people who are trying to act as journalists or creators just to siphon off the rewards. As it is right now, we’ve alienated a lot of the popular journalists away from hive unfortunately but I think we can find a happy medium to bring people here and not push them away. It’s a difficult balancing act for sure!
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I don't believe the paywall model is going to go away. Content creators have to earn a living and it takes a long time to build a true, loyal following on Hive, a large enough following that you can earn a living from your "free" content. But is it really free? You have to pay with Resource Credits to be active on the blockchain.
Hive is good, but it isn't perfect. Tried-and-true business models won't disappear. They may be transformed by Web3, but that's about all we can ask.
hey thanks btw, your interlinking on your posts is a bit high, Search engines interpret it as spam.
Special because the links are all to leo. This damage leo in a long run more than help it. All keywords you link will probably never rank in google.
Only as info.
2-3 interlinks ( as a high) and non keyword links are 100x smarter + outside links. If not natural = spam.
And only anchor keywords on high-quality sites.
Great Post!
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I'll be honest that I'm not one to fall for the pay wall. I've always just left. However being able to vote or even take some of my interest earnings of hive and use that would be revolutionary. These types of things could be huge for paid subscriptions on 3spk and many other applications to mimic what we currently see from traditional social media platforms.
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