"Hive is on fire".
This was the title of a post that I ran across as I scanned my feed this morning. I haven't had a chance to read the article, so I can't refer as to its contents. However, the idea does hold a great deal of merit.
Certainly, a day ago this would have applied to the token price. We saw the price of HIVE jump to about $.32 before drifting back. It is now at $.25, the same range it has spent the last couple months.
Therefore, when we are looking at the state of Hive, we have a lot to focus upon outside of token price. At some point I am certain the market action will follow but, for now, we have other areas of progress.
For the longest time, I suggested to people to focus upon the development taking place. Hive is one of the leading blockchains when it comes to the number of developers working on it. Yes, it is outpaced by a wide margin by the likes of Ethereum, Bitcoin, and EOS. However, on the next tier, Hive holds its own.
This is starting to produce results. What is emerging associated with the Hive ecosystem is truly amazing, We are starting to see the reach extend beyond just the close system we had thus far.
The news over the last week about a couple projects looking to tie into Ethereum, as well as other blockchains, is a big step towards opening Hive up. Once the ecosystem starts to gain some focus, we will be able to show off our offerings.
User growth is obviously crucial. It is also something that, quite frankly, is lacking across the cryptocurrency space. This is something that will be addressed as more become familiar with the idea of crypto and how it all works. For now, we are stuck struggling along, adding users one person at a time.
What does Hive have to offer people? The truth is we can see there are a lot of areas which can garner attention while reaching out to more users. Regardless of what someone is interested in, there is a lot going on.
- Blogging/Vlogging
- Gaming
- Trading
- Investing
- Gambling
- Finance
- Digital Art/Photography
The biggest item to go on this list is community. It is an idea that Hive is becoming known for yet still does not penetrate even those in cryptocurrency. Most do not realize how a strong community is the foundation for all that is taking place.
Why are many of the other blockchains struggling? In short, we see a lack of community. Perhaps there are a lot of developers that are churning out wonderful DApps. The problem is, nobody is using them. We can see by the amount of traffic on all the different blockchain, most have very little happening on them.
Hive simply needs one breakthrough. Ironically, it is a rather simple solution.
@mistakili put together a very good post about Web 3.0 and its impact post-COVID 19.
Here is part of what he wrote:
How about Wizkid, another Nigerian music artist with over 7M followers on Twitter? How about establishing a Wizkid community with a sustainable economy to incentivize his millions of followers? How about the ability for people to invest in the launch of his album and in turn he buys back the tokens off the market with a percentage of the success of the sale of his album? Thereby spreading his wealth across many hands who invested in him... How about other big hit artists and influencers in different niches scattered around the world? It's interesting to think about isn't it?
@mistakili/the-future-of-web-3-0-and-it-s-impact-in-the-society-post-pandemic
To me, this sums it up completely. It only takes one well-known person to start the process. Hive can offer communities, which is vital to those who are famous. Ultimately, it takes the interaction between star and his or her fans to a completely new level.
Obviously, we can see the ability of people to post about the artist, in this case Wizkid. That is, however, just the start. This singer could create an economy around himself through the process of tokenizing. By creating the Wiz token, fans and other followers could be rewarded for certain activities. It would start through the blogging process and online interaction but could extend far beyond that. It could eventually weave its way into ticket sales and other products at concerts and in-person events.
With Hive, we are seeing many social media tools being constructed. Fans of Wizkid could post photos via an application such as Dapplr. Videos could end up appearing on 3Speak. Hopefully we will see the ability for fans to chat directly with each other through a messenger service.
In short, there are not many blockchains offering a package such as this.
And it just takes one. We live in a copycat world. Think of all the different musicians, actors, and athletes who could connect in this manner. Most of then have followings on Twitter, YouTube, and Instagram. Naturally, we know these are Web 2.0 applications.
Hive is starting to offer the next generation of tools for interaction of this nature.
Famous people end up being brands. What better way to strengthen one's brand then by creating an economy surrounding oneself via tokenization? This is the next level of community involvement.
In short, people would be rewarded for being fans.
Hive might be overlooked right now but it cannot be ignored forward. One single breakthrough in any of the areas mentioned and we will see things from a completely different perspective. The foundation is being laid for something much bigger.
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gif by @doze
