Most are overlooking Hive. This is a mistake.

At this moment, few realize the power of a decentralized text database While there are limitations to the ecosystem, there is one area where we will see a revolutionary change over the next 12-24 months.

Hive Will Completely Change Wiki And Other Content

We are all familiar with sites such as Wikipedia. These are centralized platforms that individuals users contribute to. The idea is to capture global knowledge while making it available to everyone.

What becomes a challenge is the fact it is centralized. Like most Web 2.0 things, ownership is immediately brought into question. There is no way for any individual contributor to financially benefit from the input provided. Of course, payment could be rendered but this is nothing more than income.

It is something that is being mirrored with traditional social media platforms. YouTube and Twitter will pay their content creators out of ad revenue. This is a step in the right direction although it shortcuts the path to wealth building.

The users do not enjoy the gains in the value of the entire platform. That is reserved for those who own the equity.

It is the same with Wikipedia and other associated sites.

Hive is working on changing this.

Monetization

Digital platforms have essentially turned to a single source for monetization. Advertising dollars are generated by the billions.

This means there is tremendous value in building up a platform and capturing as much activity as possible. Since users are accustomed to being the product, in most instances, they sign up willingly. This has created some of the most valuable companies in the history.

As stated, the monetization for those who actually contribute the data (content) is minimal at best. In reality, most get nothing financially for their efforts. This is one of the realities of Web 2.0.

Web 3.0 moves this to another level.

Over the years, we discussed the idea of income in great detail. An ecosystem like Hive is already starting to show how individual monetization is possible. This is only one piece of the puzzle.

Now we are going to enter the second stage, equity.

Is there a way to monetize people's efforts where they have something they own? This is the next level of content creation, especially in regards to Wikis.

The solution lies in non-fungible tokens (NFTs).

NFTs Tied To Utility

The mention of NFTs could make some cringe. After the last bout with "Tulipmania", it is understandable as to why people will feel this way.

We only have to head to a few Spaces to find people looking for ways to revive the NFT market, i.e. pump the stuff they bought which is down 99%.

Rest assured, we are taking a much different approach here.

Instead of having a NFT tied to something that is nothing more than a JPEG, how about we utilize it for something practical, like ownership to an asset that might generate revenue?

Suddenly, we are talking about digital real estate.

Here is a screenshot of a part of page a LeoGlossary page.

Notice there is a name attached to it. This was the person who submitted the page into the database.

For the moment, this is nothing more than a notation. However, in the future, once the technology is developed, a NFT will be issued associated with this page.

The NFT is a representation of the ownership of the page. Like a deed to a piece of real estate, it entitles to owner to the proceeds from the page. To start, this means the income generated off the page.

It also means equity.

Once an exchange is developed, which VSC is working upon, NFT trading can take place. Unlike much of what we saw before, we are now dealing with something that is a revenue producing asset.

In other words, every page on Web 3.0 could have an individual owner. This is a radical concept that can completely alter the economic framework of the Internet.

Why Hive?

Why is Hive the one to do this? The EVMs already have the pieces in place, including smart contract development, to fulfill the needs.

Hive offers something the others do not. While we are waiting on the technology to be built, the EVMs cannot get around the transaction fees.

The feeless nature of Hive is making it stand apart.

Building a database can get expensive if one has to pay transaction fees. Even at a cent or two, it adds up. Many see pages and do some simple multiplication. This vastly understates the size of the endeavor. When building pages, there are updates taking place.

If each update cost a couple cents, it is would mean millions of dollars in transaction fees.

The concept of NFTs applies to any activity on Hive. This means that anything posted on the blockchain can have a token associated with it. The result is any page could be sold.

Consider the potential that is being offered. Someone could set up a publication, get professional writers to contribute, similar to traditional organizations, yet offer ownership of each page submitted.

Essentially, the content operates under a larger umbrella but it owned by the individual. This can be sold to others who are interested in the page as an investment. Depending upon the economic structure tied to the page, there could be a stream of income flowing.

For fun, let us go one step further: a fund.

What if someone pooled his or her NFTs (pages) together, and issued out tokens against them. Here we could see all the total revenue from all the pages fed into a smart contract and distributed to the token holders. People would buy the individual tokens, representing a part of the fund. The original owner could opt to include equity in the fund or retain that while limiting the offering to the income.

With the infrastructure that is being built, this is something that will be possible in the future. As we can see, some are already positioning for when this becomes available.

Everything changes when people understand what Hive truly is: a decentralized text database.

The possibilities suddenly become endless. This is not only applicable to advertising. It could include subscriptions or any other form of monetization that is developed.

Here is where innovation and creativity can take over.

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What Is Hive

Posted Using InLeo Alpha