Why Steem Monsters is Setting The Gold Standard for Future dApps
Hi Friends,
I had a really insightful conversation with Steemit Contect Director @andrarchy at Steemfest. As someone who started as a content creator and then moved to more of the development side by accepting a position with Steemit Inc – he has a really unique perspective on the development of the Steem Blockchain.
Self Sustaining dApps
One of the things we talked about was the economics of delegation and the future of dApp development. Most Steem based projects and dApps look for delegation as a way fund their project. The inherent flaw with a delegation – is that you have no control over when it is taken away, and so the funding for your project could suddenly dry up. What is so unique about Steem Monsters - is their business model. They have flipped the whole delegation mindset on it's head and have become a completely self sustaining dApp.
How did they do this? By selling something that people are actually excited to buy.
Providing Value
They created a product that not only brings it's users entertainment value - but economic value as well. By purchasing cards and booster packs, users are able to sell, trade, and use them to level up their decks and compete in tournaments. People are actually excited to spend money with Steem Monsters, because they see a valuable return on that purchase.
These sales are what is funding the development of the project. They aren't reliant on delegation from an outside source, they are creating their own revenue streams to support the team and fund development. They have even powered up over 300k Steem into that account to help support the community.
Building a Business on Steem - A Contest by @aggroed
In fact, @aggroed has a contest running right now to help expand this idea. He is challenging people to build a business on Steem and share their business plan for a chance to win 100 Steem. I am personally super excited to see what kinds of ideas people come up with. To check out the contest - click HERE.
Thoughts?
This conversation with Andrarchy was probably one of the most impactful ones I had during my time at Steemfest. It was definitely a big topic of discussion at the event and I know I've seen a few other users like @exyle talk about this in his vlog's as well. I would love to hear what you guys think about this and I hope more dApp's look to Steem Monsters for inspiration when building out their business model.
More of my Steemy Adventures
| The Steem Sister Show Has a New Page! |  |
 | The Steem Monster Show with @littlescribe and @coruscate |
| Watch My Talk at the Steem Creators Conference |  |
 | Support The November Minnow of the Month - @iamjadeline |
| Learn More About Mene 24k Gold Investment Jewelry |  |
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I think the Steem Monsters game goes a long way towards providing some kind of value and usage to the token. BUT, and there is a massive BUT here, (besides my fat ass that is). The game needs to be uncorruptable. For the last 2 weeks, its almost unplayable as a real life human being since programers worked out scripts to "play" the game. This then mines the packs, and through sheer unrelenting persistance, has taken over the game and has rendered it useless for casual players.
Until such time as this can be fixed, it will be unattractive for the outside world to want to come on board with it.
Steem Monsters is indeed a great example for how to escape the inflation cycle to fund ones project. At the same time they also revolutionize gaming through the decentralized monster "tokens" that they sell which can be used by anyone for anything. I am so excited to be early in.
I totally agree! It's super exciting to be in on the ground floor like this. :)
We totally need to do a collab with the crypto dwarf and the @steemmonstershow sometime. Sorry we havn't had a lot of bandwith to do anything yet - but I know it will be awesome whenever we do it!
I heard Steem Monsters lol!!! :-)
were your ears burning @clove71?? hahah
Frankly speaking, I have always been DISGUSTED by some people apparently thinking that it be possible to support the external price of STEEM with anything else than external fiat revenue streams in the long run. Steemit Inc or anyone with Steem Power can and should help promising apps along with delegations but no app can rely on a free delegation forever. A free delegation from Steemit Inc is like a government subsidy. VALUE CREATION is key. There is no other way to keep Steem from collapsing totally sooner or later.
True and interesting. and right, from Steemit inc. is centralised government subsidy. Some times it’s unfair to be judged by the government, as there are so many projects and communities have more potential than some they delegated and admitted.
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Great points @markkujantunen. I hadn't really thought of delegation like a subsidy before - but that's an interesting comparison. I imagine there is also a lot of fear/pressure around losing a delegation - and so by building a business model with more varies streams of income - I imagine it would allow the developer to move forward with more confidence too.
You had me at “gold standard.” But seriously, isn’t is interesting how gold is always the word we use for the best example of things in culture? Thats no accident :). I did actually watch your vlog too ha ha. I agree, Steemmonsters is crushing it, doing everything right
I actually thought of you when making this post title!! hahah #steemitbesties
But you are totally right - we do use gold as a way to describe something that is of top quality.
I knew it! I just knew that was a secret message to me! (Do i sound like I have delusions of grandeur?)
hahah it's only a delusion if it's just in your head. I legit added the word gold for you! I actually almost told you but thought i'd see if you said something first. LOL
You sure know how to make a guy feel special Mrs. @coruscate :)
Agreed! I’m so inspired by their project and think it provides an excellent example for others who want to build something that will THRIVE! Plus I love to play it :)
Win, win - right?? Thanks for the lovely comment @mountainjewel! <3
I can't wait to see all the new ideas that we will see in the future, thanks for sharing the information!
I'm glad you enjoyed it my friend! Yeah right now is such an exciting time for Steem. Even though the price is low - the different projects/dapps aren't slowing down at all.
Each Steem-based project is more exciting than the next. You're right it was just an incredible feeling being in the presence of so many cool projects and entrepreneurs.
Oh it was so inspiring! I'm so glad we finally got to meet in person @birdinc!! I realized after I left though that we never got a picture together. Oh well - I guess I'll see you in Austin. :)
Austin for sure... it will come quick!
It's definitely attracting some attention from people who weren't previously interested in the Steem Blockchain. My next goal is to try to bring over some friends who play Magic the Gathering over to Steem Monsters. I think they'll enjoy it.
Yes! It is great to see business be created on the blockchain and be self sufficient. Will be great to see more in the future!
Agreed!!
Interesting conversation. I have to agree the development and funding of @steemmonster is impressive. I think they have a hit on their hands. I can’t wait to see what they have in store and my hopes are this game bring new users into the crypto sphere and that it breaks down so if the barriers to entry.
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I'm still waiting for what's beyond the horizon personally.
Agreed. I think they have a good shot of making it happen too. :)