RE: I asked ChatGPT some questions about How Steem Can Attract More Investors. Let's discuss what can be done

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RE: I asked ChatGPT some questions about How Steem Can Attract More Investors. Let's discuss what can be done

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o1eh (79)modSR|Moderator WOXin WORLD OF XPILAR • 3 months ago

Good theoretical advice, but who should do all this? For example: Engage with Institutional Investors. Who should communicate with them? Team Steemit? But they want to stay out of such processes. Then who?

Diversify Use Cases. Unfortunately, we haven't made any progress here for years.

Targeted Marketing Campaigns. I try to do this, but it requires significant resources. Resources are hard to come by because there is no guarantee that marketing will do more good than harm from selling STEEM.

The issue of attracting investors is very complex. The whole project rests on the faith of investors that one day they will sell their STEEM at a higher price and make a profit. This is not a very reliable basis. It is necessary to gradually change the economic model, it is necessary for the blockchain to "earn", and this requires a lot.

3 months ago in WORLD OF XPILAR by o1eh (79)modSR|Moderator WOX

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xpilar (83)adminsteem witness WOX 3 months ago (edited)

You've raised some important and challenging points about the difficulties in attracting investors to Steem. Indeed, the issues you've highlighted—such as the lack of a centralized team to lead investor engagement, stagnation in diversifying use cases, and the resource-intensive nature of marketing—reflect the broader complexities of growing a decentralized blockchain project.

Addressing the Challenges

Who Should Engage with Investors?
- Community-Led Initiatives: In a decentralized environment like Steem, the responsibility for investor engagement can’t fall on a single entity. Instead, influential community members, stakeholders, and projects within the ecosystem can take the lead. Communities and projects built on Steem can organize to present the platform's potential to investors. Forming a coalition or working group of key stakeholders who are invested in the platform’s success could help pool resources and expertise for outreach to investors.
- Delegated Authorities: If a core team (like Steemit Inc.) prefers to remain out of direct investor relations, they could delegate or support independent ambassadors or entities within the community to take on this role. These entities could be tasked with building relationships with institutional investors, pitching the platform, and representing Steem at relevant industry events.
Diversifying Use Cases
- Crowdsourcing Innovation: Since progress in diversifying use cases has been slow, it may be time to look outward and leverage the collective creativity of the Steem community. Steem could host hackathons, contests, or grant programs to incentivize developers to create new applications and use cases. Offering funding or rewards for successful projects could stimulate innovation.
- Partnerships with Other Projects: Another approach is to actively seek partnerships with other blockchain projects or industries that can integrate STEEM as a utility token or use its blockchain for specific applications. This could be facilitated by community-driven outreach or joint ventures between active developers and business-oriented members of the community.
Targeted Marketing Campaigns
- Community Crowdfunding: If resources are a major constraint for marketing, a community-driven crowdfunding campaign could be initiated to raise funds specifically for marketing efforts. By pooling small contributions from a large number of users, significant resources could be gathered without placing too much burden on any one entity.
- Collaborative Marketing Efforts: Marketing could also be approached collaboratively, with different projects and communities within Steem pooling their resources and coordinating their efforts. By creating a unified message and sharing resources, these groups could launch effective campaigns without the need for substantial individual investment.
- Transparency and Pilot Campaigns: To address concerns about the effectiveness of marketing, start with small-scale, pilot campaigns. These can be transparent, with clear metrics and goals, so the community can assess their impact. Successful pilots could then be scaled up, building confidence in the process.
Changing the Economic Model
- Exploring New Revenue Streams: The current model of relying on speculative investments for STEEM’s value is indeed fragile. One approach to a more sustainable economic model could involve developing new revenue streams for the blockchain itself. For example, transaction fees for certain types of services, premium features, or enterprise solutions could generate ongoing revenue that supports the ecosystem.
- Governance and Consensus: Shifting the economic model requires a community consensus and coordinated efforts. This might involve proposing new governance models or adjusting existing ones to support economic changes. Active dialogue within the community, along with votes on key proposals, would be essential for driving such changes forward.
- Building Long-Term Value: Encourage projects and businesses to build on Steem that have real-world use cases and revenue potential. Over time, the success of these projects can help shift the perception of STEEM from a speculative asset to a token with inherent value, driven by the success of the businesses built on it.

Attracting investors to Steem is indeed complex and requires coordinated efforts across multiple fronts. Since the platform is decentralized, leadership on these initiatives will likely need to come from a mix of community leaders, developers, and stakeholders who are willing to take on these roles. Collaboration, innovation, and a willingness to experiment with new strategies are crucial for overcoming these challenges.

Ultimately, the key is building a sustainable ecosystem where the value of STEEM is not solely dependent on speculation but is driven by real use cases, community engagement, and the success of projects built on the platform.

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