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RE: The curse of advertising revenue
But, through SMTs, steem can be pressured by corporations and advertisers whilst keeping places like Steemit advert free. I think...
But, through SMTs, steem can be pressured by corporations and advertisers whilst keeping places like Steemit advert free. I think...
Can you clarify that a bit?
I am on my phone now but SMTs can be used to tokenize and monetize essentially any platform while still running in the steem blockchain. So another platform can still have adverts and whatever they want but use steem. Steemit itself need not have adverts to benefit indirectly from advertising...i think...
That's correct. Are SMT's (Smart Media Tokens) just another instance of STEEM the currency under the hood like Steem Backed Dollars?
I am not sure exactly how they work tbh
I read the whitepaper. SMT's are custom tokens somewhat like ERC20 tokens are on the Ethereum network. The creation and use of SMTs use bandwidth on Steem the blockchain. For that, STEEM the currency is needed. Also, SMT ICOs require STEEM to be bought. The organization who holds the ICO may sell the STEEM it gets later but, nevertheless, even in the worst case, some STEEM will always be held at any given time.