The "money" is generated by perceived value and investment. They pay out steem dollars, which they create. You can then trade that to others for what the perceived value is of the currency. In a way they're "printing" money. In another way, you're getting paid by all the people that see real value in the site, the community, and the crypto currency.
As another poster said, it's actually one of the only crypto currencies that has any "productive factor" as they put it. So, in a way, perhaps it could be said to have more value, and perhaps be more stable than other crypto currencies.
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