Community Monetization (a 3Speak example)

in Hivemind4 years ago (edited)

The current YouTube delisting issues make for a good real world example for single-community Native Ads monetization.

A channel as a community

Suppose YouTube channel owners were to try and use @threespeak with the aim of monetizing their channels. A YouTube channel can be represented by a community (probably Type 2 Journal is more appropriate). So creating a channel will be "creating a community."

There are differences between YouTube monetization and what can be offered through Native Ads.

Custom sponsorship deals

Currently, for a YouTube channel owner to offer sponsored content on their channel they have these options:

  • Show stuff in their videos (images, scrolling bottom banner, etc)
  • Talk about it in their videos

The options are limited because they do not own the channel, essentially and they can't control its monetization directly, when compared to what a Steem community can offer.

With Native Ads monetization (assuming a Hivemind Communities implementation by @threespeak), the options available to a channel owner include all the above, plus:

  • Sponsored polls, where an advertiser creates a poll and pays tokens for ad space and time in the channel
  • Sponsored discussion, where an advertiser starts a discussion in the channel, and pays tokens for this opportunity

A market for ads

Currently, a YouTube channel owner can monetize by leveraging Google's Ad Market. This has been built up for years and it now has worldwide demand and an interface that gives advertisers access to the entire market, with tools for targeting and analysis.

A Native Ads market will grow with time, as with all things. When there are thousands of communities of many types, the momentum will create the need for tools to navigate the various communities and analyse their reach for targeting purposes.

SMTs and attention tokens

It's obvious that if every affected YouTube channel owner joins 3Speak right now, they would be relying on upvotes, for rewards from a STEEM pool that's controlled by different holders with varying interests, which is not conducive to an attention economy.

I foresee the creation of pure attention tokens, that cater to community monetization. For example, 3Speak could create an SMT that can be used by all their users to monetize their communities. It can have parameters fine tuned for its specific use as an attention token and it won't be influenced by other SMTs or STEEM itself. 3Speak can have a portion of inflation sent to an account to fund development, or give people the option to donate a portion of their rewards (beneficiary settings).

As people accept the token as payment for ad space and ad time within various channels, the token gets demand value. As people interact with the videos (upvoting them and writing comments that also get upvotes) they earn these tokens too.

It will be a matter of getting the parameters right, such as:

  • Curation Rewards Percent
  • Inflation rate
  • Cashout window

In conclusion...

The combination of Hivemind Communities and Native Ads can offer video creators the chance to own their channels and have full control over the monetization options they use.



For an overview of Native Ads and how it will work, read this doc.

I am working on a number of new features to extend Hivemind, as a way to experiment and help develop a testbed that Steem front-ends can use. To see the code, check out the branches on my fork of Hivemind on GitHub.

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