Ok, this is major news. I will start with the most important bits:
- Global Blockchain Technologies Corp announced a non-binding agreement to invest $20 millions in the upcoming SMT technology prepared by Steemit
- the investment will be made both in tokens (
newly launched SMT's, that isSTEEM tokens, that is) and in US dollars - the investment aims at supporting startups that will use this ecosystem
For the standard PR announcement you can either start with @ned's tweet, or read the news at source.
What To Expect
More visibility for the Steem ecosystem entirely. The amount of investment is big enough to generate a lot of momentum.
Since the investment is not directed into Steemit but into startups that will use SMT , the beneficiaries will probably be satellites companies, or companies that will receive a hybrid participation from both Steemit INC and GBT. Still not clear how this will be implemented.
It's the first major news about an investment in Steemit (since the legendary @laonie's investment of 400 BTC, which, today, would be around $2.6 millions).
Markets didn't react too strong to this one, but it's also a bit early. STEEM is trading around $0.92.
Exciting times ahead!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):