Monetization of crypto networks

in cryptocurrency •  7 years ago  (edited)

I would like to continue the conversation about the mechanisms of the development of crypto social networks and to dwell on such an important issue as their monetization.
image

What could be simpler and more understandable? But this is at first glance only.

On the Internet, this term means the process of generating income in money terms using your own Internet resource.

But the fact is that until recently, the main vector of income generation in social networks was directed to advertising, to attract sponsors, to promote any projects or events.

In crypto social networks things are different. The main direction of monetization is user activity. This is the engine that makes investors buy coins of this project. This is exactly what happens first. All the rest - then only.

In the presence of other elements, which I have already mentioned (reward and curation systems, fixation of influence, boosterization, etc.), the project can develop, attract new users and implement this very monetization.

Of course, much will depend on the team's professionalism, on the creativity of people on the other side of the screen. From what they will come up with interesting features and how they will develop the functionality of the social network, etc. But it is unlikely that monetization is possible without the above.

At the same time, today in the market of crypto social networks very interesting things could be observed.

There are projects in which the social network is actively developing, but there is no its own crypto currency (Bitlanders, Minds, Galactikka, Empowr, etc.), or vice versa, has its own crypto currency, but it is not used to reward user activity (KoCurrency, CryptoSocial, SocialX and etc.)

There are a number of projects that entered the market for a different purpose, but they developed quite powerful and large communities in the course of development. Why not to monetize the activity of users in this case?

There are also other projects that use forums for the development of their community (Bitradio, DeepOnion, etc.). But the forum is not a very convenient way to monetize social activity. Although there are examples of forums that reward for activity and somehow move forward.

In my deep conviction, today the development of social networks is impossible without the existence of own coins and a system of rewarding user activity. And those projects that use this basic principle in their development have a chance for progress and successful monetization.

More useful information about cryptocurrency you can find at levelnaut.com right now

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!