I am new to Steem and was wondering how the Steem devs. make money? I understand how creators make money but what about the devs running the Steemit platform. Who pays the core developers , the server and so on. Where does the money come from if Steemit is supposed to be free to use? There was no ICO either.
Thanks for the help
The developers of Steemit hold mass amounts of Steem. As Steem goes up in value (based upon Steemit use) and they cash out, they make millions. In addition, as they produce content, they can upvote each other as whales (the most powerful Steem vote value influencers) and make a load of Steem off of the value of these upvotes as well.
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Thanks for the good article