This is an important aspect to Hive that we often discuss. However, with the idea of communities being economies, what is it going to look like in the future?
In this video I discuss how finances and social could merge. We could see social layers added to businesses that are crucial for their profitability. Hive is already operating from this position.
▶️ 3Speak
In some cases, I would say the lines are already blurred.
The other day, I was suckered into clicking on one of those "sidebar" links to someone talking about "How I make $6,000 a month as an artist."
So I watched the video, and the truth is that this person was making maybe $800 a month from actually making and selling art and all the rest was from social marketing, social monetization and referrals. And this was not blockchain/NFT based, either.
So I ripe example would be that of artists whose actual work and their social presentation of their work could be core to their overall finances.
=^..^=
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Making around $5200 USD per month is still very impressive. Not many people can do that. I can hardly earn $100 USD per month. I struggle earning small pocket money. According to HiveStats, I earned $64.43 USD in the previous 30 days. But I am not an artist, so I am not really a reference in this case.
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We have talked about this before, but Hive has an extremely unique use case. Other blockchains are just replicating the others at this point with defi and other financial uses, which most average people could really give a rats butt about.
Their social reputation is another thing... So that's why Hive can stand out in the long run, it's just going to take more of us that are dedicated to continuing the dream. It will grow but people needs to learn to be patient.
Summary:
Task discussed the importance of social layers in blockchain technology, focusing on Hive as an example. He highlighted the significance of sociability in the world of DeFi and how tokenization will likely run through various aspects of the digital realm, including gaming, social media, websites, and applications. Task emphasized the integration of social tokens into traditional businesses' structures and the impact of reputation and proof of activity on platforms like Hive. He pointed out the dedication and loyalty of certain individuals within the Hive community, emphasizing the value of interaction and reputation capital.
Detailed Article:
Task delved into the concept of social layers within blockchain technology, specifically emphasizing Hive's social layer as a pivotal element in the evolution of finance. He drew attention to the unique aspect of Hive's ledger resembling that of social media platforms like Facebook and Twitter, enabling interaction and sociability beyond mere transactions. By integrating sociability into the financial landscape through blockchain technology, Task highlighted the potential for a shift towards a more community-driven financial system.
Furthermore, Task explored the implications of tokenization permeating the digital realm, foreseeing a future where DeFi becomes inherent in various digital facets such as websites, gaming, and social media. He connected this trend to the tokenization of traditional companies like Tesla, Netflix, and Disney, indicating a potential shift towards a new financial paradigm.
Task also delved into the importance of social tokens for traditional corporations, illustrating how an equity layer tied to company profitability, a debt layer for bondholders, and the addition of a social layer could revolutionize business structures. He discussed the role of reputation on Hive, pointing out the contributions of various individuals, content creators, and developers to the platform's ecosystem.
Moreover, Task underscored the significance of reputation capital and proof of activity within platforms like Hive, highlighting the value of loyalty and dedication in building a strong presence within the community. He encouraged individuals to consider their progress and ways to stand out within niche communities, emphasizing the platform's capacity for recognition and reward based on quality contributions.
In essence, Task's analysis shed light on the evolving intersection of social dynamics and finance within blockchain technology, using Hive as a case study to exemplify the potential impact of sociability on the future of decentralized finance. His insights underscored the importance of community engagement, reputation building, and interaction within blockchain ecosystems to drive innovation and sustainable growth.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.