RE: HoboDAO Contest #29 of 50 CONTESTS
Hi @retinox,
I should write a lengthy post explaining the situation with the HoboDAO Contests and its submission token.
But here is the basic situation, I tried in various ways to make partnerships with projects to improve rewards both for contestants and for curators called "broadcasters" but it just didn't work out. I could not decentralize the DAO accounts until there was a solid group of active participants and that never happened.
I wasn't able to get a steady team of curators that could judge the contests, so I've had to do it myself at cost of time and money. I just can't keep doing it, especially since the contests never grew popular enough, they essentially are being used by only one person.
Delegations hit a high of 35K SP and then I had to keep the curating account propped up with dlease, which was out of pocket money that could not be justified by any revenue. The cost of rewards always outpaced the HBO used to submit people's work, resulting in a regular monthly loss.
Despite the fact that many people were rewarded in HBO for various things, they either sold them on Steem Engine or held them, but people don't submit their work to the contests after they receive HBO tokens. Since people are not submitting their own work or other people's work, the contests are just not in demand on Steem.
I'm simply unable to keep doing this for free or at cost to myself. I'm not happy to do it, but I have to close the contests down.
Right now the best way to get value is for people to be USING their HBO tokens by submitting work to contests in hopes of earning author/sponsor rewards. Currently, contest winners and sponsors are receiving LOTUS tokens, which is one of the most popular tokens and will continue surviving.
Eventually I'll be rewarding MINDS tokens worth around $1 per token and HEX tokens as well. So, you still have quite a few contests with real value that the tokens can be used to win. If you have noticed, not only do authors receive rewards but so do the sponsors of those authors.
This means that you could use your tokens to submit other people's work and receive rewards if the person you enter into the contest wins.
Hello @hobo.media
Sad to hear that all the efforts haven't "payed out". But I appreciate all you have done. Maybe you find another more straight concept and you could use the existing HBO token for that. It's still an open question/task how to find and reward good content from Steemians/Hivians to show them that it's really worth to be here since even a bunch of upvotes usually pass less than a penny. Palnet is one of those concepts but I haven't monitored it to see how successful it is.
You are a creative person - really hope you come up with another nice idea and can restart with that after the contests.