Everyone is hyped about Smart Media Tokens for various reasons. Funding their projects, creating communities, maybe just the fact STEEM can compete with Ethereum's ERC20 tokens.
One of the most interesting parts is that it allows point-and-click ICOs. Name your token, the amount made, the distribution, how content rewards work, and how your ICO runs. Poof, you have an ICO. That was easy.
This may spark many new ICOs, which can be both a good or a bad thing, depending on your perspective.
Currently, there have been a lot of poorly written Ethereum ICOs, causing people to have their tokens stolen though exploits in the smart contracts. With a point and click UI on STEEM, this problem hopefully won't exist.
The ability to mix and match tokens makes this even more interesting. A post could pay in both "CHAINBB" and "GARDENING", and it sounds like @busy are working on integrating SMT into SteemConnect, making it easy for developers to add support with little code.
A Disqus-like comment module will help to encourage people to interact with your content on your blog. Often you might post things on your non-STEEM blog, and nobody comments. With tokenized comments, they're encourage to comment on your blog, give feedback etc. in return for a token issued by you.
NOTE: All images taken from the official SMT website. I do not take ownership of any of these images.
Conclusion
Overall, SMT is very interesting. I'm not sure how well it'll be adopted outside of the STEEM community. I expect a lot of people might use it just for the ICO capabilities.
I personally can't wait until it comes out, and would love to experiment with creating my own tokens :)
Thank you @ned, @sneak, @val and all the others involved in the SMT project. It's sad that @dan / @dantheman isn't here, but I'm sure that EOS will be awesome too.
READ MORE (whitepaper available): https://smt.steem.io/
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