The #SmartMediaFutures Challenge: RECORD SMTs

(source: Pixabay)

If I were to create an SMT (and I do plan to), here is an idea of what it might look like. For some background I run an indie record label's website and want to incorporate SMTs into the music world. The record label's reach is to the tune of millions of fans annually.

What would your token do?

My token would facilitate discussions on my record label's website. There would be the opportunity for comments on news articles, new releases (singles and albums), and merch items such as CDs, records, hats, shirts, etc.. We would give out small amounts of RECORD as a percent of your purchase on the website, and customers would begin to curate good comments. Part of the website would allow for RECORD tokens to be redeemed for an actual vinyl record from the store!

What problems would you like it to address?

The RECORD token has a dual purpose. Of course the first purpose is to offer perks to all customers and for them to get records for contributing their input to the website! As the community grows the website will become more popular, sales will increase, and customers will be happier! The second, and arguably more important purpose is to introduce the concept of cryptocurrency to a demographic that has not been exposed to the crypto world.

What type of community do you imagine it might empower?

This token will directly empower all music fans, which is a huge range of people. These users are mostly people who have not been exposed to the crypto world at all - and who could benefit greatly from the potentials of crypto.

What is the greater goal?

I believe crypto and STEEM in particular has huge potential, but there is a major hurdle with mass adoption. I think the best way to get the ball rolling with mass adoption is to just get people involved in STEEM, whether they know it or not. I do not want to advertise this idea as cryptocurrency, but rather a magical RECORD token that just works. I want people to think "hmm, I have .02 RECORD, i guess that's cool" and then eventually "oh cool, I can get that Rolling Stones album I always wanted if I just get a few more good comments". The end. If they want to know HOW it works I will of course share the details of SMTs and the steem blockchain, but my concern is giving the customer a good experience - not confusing them. I want people to get comfortable with cryptocurrency. Eventually if this works and people start to catch on that this is the true power of cryptocurrency I think the music community in particular would rally behind crypto because of how huge the potential is for artists (especially on a low income) who need money to create.

Help Me

How can I improve the idea of the RECORD SMT? Do you see this fostering a vibrant musical discussion? I really need help with the nitty gritty details of the SMT setup. Please give me some insight into the tough questions below!

Thanks for reading, and thanks @sndbox and @utopian-io for issuing the #smartmediafutures. Read about it here.