Steemit, has announced the launch of a new cryptocurrency product that will seamlessly connect content-hosting websites to new revenue streams, consumer bases, and development opportunities.
This fall, Steemit will release new software that allows top publications, mainstream publishers, and social media platforms to create native tokens based on the Steem Blockchain, allowing companies to integrate a customizable and intelligent token system into their website, portal, or platform.
The protocol enables anyone to launch Smart Media Tokens (SMTs) for their website, app, or community, from The New York Times to Subreddits to an independent Wordpress blog, with the potential to create transaction revenue in ways that paywalls and subscriptions continue to come up short. SMTs are designed to reward publishers and consumers with native tokens based upon their contributions to the platform, based on likes, votes, views, shares and comments.
CEO of Steemit Ned Scott said,:
“Print is dying, ad integration is inefficient, distracting, and generally unwanted by consumers, all of which has led to a widespread battle to monetize content. SMTs represent the new frontier of a tokenized internet. We are going to see native tokens across thousands of mainstream websites where content is curated by the crowd, and publications and content hosts can establish dedicated revenue streams to allow richer and smarter content targeted directly to a user base.”
SMTs will be a native protocol on the Steem Blockchain, one of the most scalable and efficient Blockchains in the industry, allowing content publishers of any size to implement revolutionary new revenue models based on consumer engagement and interaction.
The Steem Blockchain is faster and larger than the Bitcoin and Ethereum Blockchains combined. It has 3 second block times with zero fees (a feature SMTs will share), and is capable of quickly processing the large number of micro-transactions required for any media entity across the globe.
SMTs can be run by any publisher without changing any website infrastructure or functions. This marks a significant step toward bringing Blockchain and cryptocurrency to mainstream media in an accessible and attainable way, breaking down barriers to enter the fastest growing industry in fintech, while creating a mutually beneficial bridge between consumers, content, and media revenue.
“Steemit represents the future of the internet and SMTs are how we will deliver that token-infused future for many, many more websites. Any website, application, community, or guild will be able to launch one of these tokens and integrate with various web interfaces in seconds. These tokens will be far-and-away the most user-friendly, inexpensive, secure and, most importantly, monetizable way of launching your own coin, fundraising for an organization, growing your community, and generating revenue for your enterprise.”
Steemit has experienced exponential growth since its launch in May 2016, with hundreds of thousands of users on the platform. For more information visit smt.steem.io and you can read the full whitepaper here.
- Smartlands to Digitise Own Equity; Unveils Plans For Security Token Offering in the US - December 9, 2019
- ShareRing Partners with Thailand’s new E-Visa System: Mainstream Blockchain Adoption - December 9, 2019
- ELEV8CON adds BBVA, Bumble Bee Foods, State Street, Ticketmaster to Lineup for Enterprise Blockchain and Digital Asset Conference - December 9, 2019
- Mintdice – Playing it Fair with Blockchain - December 9, 2019
- Juventus Become The First Football Club In The World To Be Tokenized - December 3, 2019
- London’s Travala.com Teams Up With Amsterdam’s Booking.com In Massive Crypto Travel Deal - November 28, 2019
- High-Powered Group of Legal Experts Determine Cryptoassets and Smart Contracts Legal Under UK Law - November 21, 2019
- Hyperledger Adds Eight New Members – Rolls out Updates - November 21, 2019
- Failed ICO, Token Sale Project SNIPs Acquired by Sonos for $37.5 Million - November 21, 2019
- Algorand Launches Protocol Upgrade, Setting the Stage for the Next Wave of Distributed App Development - November 21, 2019
- ArcBlock Partners with Ride-Sharing Service GoFun to Develop Services and DApps on Blockchain - November 20, 2019
- Hacktivist Phineas Fisher Cracks Cayman National Bank and Trust – Offers $100,000 Bitcoin/Monero Bounty To Other to Hack Banks, Big Companies - November 20, 2019
- Graph Blockchain to Acquire Shroom Street – Cracking Psychedelics Market - November 20, 2019
- OpEd: Burned By Bitwala – Visa Card Money Gone When Wavecrest Wound Down - November 19, 2019
- Chinese Military Eyes Blockchain Technology for Rewards Programme – Boosting Training and Gamifying System - November 18, 2019
- FinCEN Boss: American Regulators to Strictly Enforce AML in Crypto Industry - November 18, 2019
- Visa’s Rolls Out New Blockchain LucidiTEE – Tackles Concerns related to misuse of sensitive user data, when shared with third-parties. - November 18, 2019
- Utrust Joins Forces with Alternative Airlines for Flight Bookings with Crypto - November 13, 2019
- Dark Web Drug Dealer Pleads Guilty To Using Cryptocurrency to Launder More Than $19 Million - November 13, 2019
- Dutch Police Bust CEO of Blockchain Game Firm, Komodore64 – €78 million Gone? - November 13, 2019