There was an interesting thread posted by @khaleelkazi regarding Subscriptions.
One of the hesitations I had regarding Subscriptions was the last of features. There are a few things that are important to have.
In my view, we need:
- blogs
- Threads
- threadcasts
- shorts
My thought was that blogs would go live with the other features added later. As we can see, for the last two it is the case.
@khaleelkazi/re-taskmaster4450le-tjtxyk7l
This is the roadmap for the subscription.
To me, this adds a completely new dimension.
Subscriptions: New Level of Engagement
One of the ways I am thinking about this is as a resource center for those who subscribe. Growing the database of knowledge that is placed in there is crucial.
While this can be done with blog posts, having threads presents a completely new dimension. With that, engagement can take place at the subscription level, creating that interaction with one's followers. This means that the content creator can easily drop ideas throughout the day for those who are following.
This is a new for of interaction. We know microblogging is a different form of interaction. Having this upon rollout could help to provide more value.
Since we don't have a lot of details about how things will be formatted, a lot is left to speculation. For ease of setup, we are likely to see something similar to what is present now. What this means is we are still in need of search and other functions. We are told LeoAI will handle it.
Subscription content needs to be searchable. If people have to scroll through hundreds of posts to find something, it will not be found.
I admit I am not an expert on Medium or Substack it is seems difficult to find information on there.
LEO has to offer more than those services. Threads is a good way to separate things. It will even be better when shorts goes live.
Building A Business
The successful Subscriptions will be achieved by those who view this as a business. As stated, this does not seem to be the mindset of most within crypto.
Instead, we see the majority looking for easy money. They are chasing airdrops and look for mooning. If they get it, I guess that is okay. Unfortunately for them, this is not the path of most. Few get wealthy trading. In fact, it is no uncommon for people to blow up their accounts.
Building a business, on the other hand, takes time and effort. One has to be consistent and focus upon brand. Features are look at as tools, meant to be leveraged to provide more to the consumers.
Over the long term, Subscriptions could be something that holds appeal to people online. Within the crypto community, I am not sure there is a high demand. To me, that is not the target audience since they simply want stuff for free with little effort.
That said, there are many out there who are struggling on Web 2.0 platforms. I dont know the requirements on all of the but the platforms that do pay out tend to have high requirements. At the same time, there is a lot of competition.
All of that leads me back to my original premise. If you are going to be a fish, might as well be a big one in a small pond. I think that Web 3.0 will eventually take off, meaning those who are positioned properly in the early days could do well.
There are a few who are making bank on Web 2.0. To them, that is their honeypot and there is no reason to leave. This is not the masses. Most do not make very much (if anything at all) off these platforms.
Web 3.0 is a bit different. There are no minimums for payouts. With Leo Subscriptions, the price if 5 HBD. That is paid to the content creator almost in full (I think the platform cut is a max of 5% and can be as low as 1%).
Threads being a part of Subscriptions will allow creators to engage directly with their audience. With some innovation, people will come up with some unique ways of using it.