Steemit's Smart Media Tokens Will Be The Real Game Changer!

in #smt5 years ago (edited)

One of the things I learnt early on in business is that you have to keep evolving even if the pace is seemingly unhurried to the world and the other is to always under-promise and over deliver. But when the time is ripe, you go out all guns blazing.

Today, @ned announced the Smart Media Token whitepaper and as you can tell it holds some incredible possibilities for business owners across the world. Check:

With SMTs you can launch your own tokens, run an ICO, generate income out of your websites or blogs by monetizing them unlike ever before. Traditionally most website owners were largely dependent on ad-revenue or affiliate sales. But now you can easily monetize your content and community with blockchain technology and crypto tokens.

You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete. ―R. Buckminster Fuller

About 2 years ago I started a motoring site where I had excellent traffic and over 100K page views within a month of launch and several hundred unique visitors a day. But it was very difficult to monetize it to generate substantial monthly income with Google ads alone in a highly competitive niche. Getting traffic was relatively easier but sustaining operating costs certainly wasnt.

Even as I had a business plan and mobile app in development, ultimately I decided to switch over to the cryptoworld and let that project rest as it was more lucrative to focus on cryptocurrencies and Steemit. I reckon there must be hundreds of web based business owners like myself who set up websites to sustain a livelihood, provide employment to a team etc. SMTs will monetize, generate income and potentially livelihood for various business owners and their employees in the years to come.

A friend and former roommate Harsh Agrawal is one of the top bloggers from India with over 900K followers and runs a popular network of blogs, notably He also runs a popular blog on cryptocurrencies as well. He has massive traffic and excellent engagement on his content at his top blog and with SMTs he could probably have ShoutMeLoud tokens and monetize his blog's comments and have an exciting new alternative to access his premium content as well. The possibilities for application of this technology are huge.

Recently I was approached by a publication in India which also runs a very large and popular forum in my country with a possibility of getting onboard on Steemit. Now they can simply use SMT to further monetize various aspects of their business and raise funds in addition to publishing content on Steemit if they should so desire.

Our favorite social platform is one amongst the top 2000 websites in the world today offering instant transactions with zero transaction fees.

Steemit has been gaining popularity from the day 1 for being the first blockchain based platform in the world which rewards users to post and curate content. It has a growing community of loyal users. If you are an online business owner, you already know the importance of building and sustaining a community and what it would mean to reward your users.

There are many development tools on top of Steemit which makes it easier to build websites on top of the Steem blockchain. In the year to come all of this will only get better and easier.

I think of my country and how this technology can improve businesses-there are endless possibilities. Hope to see some of my favorite publications adopting SMTs in the future.

If you were wondering about updates to, they are on their way as per the roadmap released earlier. But today, let's focus on SMT and mark this day, because it is when Steemit decided to change the game!

You can download the SMT whitepaper here!

Read @donkeypong's post on SMT: The Day the Paywalls Died: How Steem’s Smart Media Token Saved My Family’s Newspaper

@steemfest is just a month away. Visit the official ticket website for ticket purchases.

If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:

  1. Successful #2 India Steemit Accelerator and Steem Cryptocurrency Meetup 2017 at Robert Bosch India HQ!
  2. My 1st Steemit Anniversary — Looking Back at an Amazing Year Of My Life!
  3. Steemit.Chat—A Quick Update On Our Popular Communication Platform!

Follow Me: @firepower


Thank you for this article @firepower! Well done! I have spent the day seeing people making posts about the SMT but simply regurgitating what was in the announcement with no real input of their own. It is nice to see this broken out into some real life examples from your own position.

It is an exciting time for the Steem Blockchain! Very glad to be a part of it!!

Yes Smart Media Tokens (SMTs) are huge ! Don't miss the opportunity!

I know Aggrawal he is quite successful wish i could work out like him

Interesting observation on SMT. Money creation the most mystical, complicated and secretive process. However, it evolved from bartering, then the currency based system (e.g. gold, silver coins), early banking (fiat currencies, credits), crypto-mining, mining on the back of (proper) humanly activities (SMT)-- Crypto (Steem) has entered from Homo Erectus (Banking) to Homo Sapiens (STEEM-SMT) age :)

This is very exciting news and it will be interesting to see this come to life! Great post!

Thanks a lot.

Finally some detailed information about SMT! This could be a real game changer for Steemit, the tokens will diversify the income sources. The price of Steem is up in the last 24h, maybe it's because of SMT, who knows...

This is a really exciting news, we will have a great 2018 ;)


Thank you for this great summary and your view!

You're welcome.

Very nicely written
Today i buy 1035 steem from bittrex exchange..after joing steemit i get this news,This may be my welcome bonus

Smart move!

Thank you and good move. Keep on steeming.

So, its basicly like ether token but based on steem? wow! I think Steem will go to the moon base on these and other developments as dtube, thank you for the Info!

where we can buy this token, and what is the website ? is the website, though I think @ned and the team are still working on it :)

Fantastic. This sounds just like what I've been looking for.

Thank you very much for the post!

You're most welcome buddy. :)

I hope this works out good since so many are pulling for it. With a cold to hard to understand today. tomorrow I will dig deeper. You are a very smart guy so I will definitely spend the time to learn much more when I recover.

SMTs will open up a new wave of progress in how technology and media platforms work. Saw your top comment on @ned post too. Amazing time to witness the paradigm shift in technology indeed.

May I request your attention towards a serious danger to Steemit community in form of phishing scam which requires urgent action.

Steemit Phishing Scam

Please resteem this scam alert post to help it reach more people and kindly upvote it heavily to make it trending. Thank you for your contributions to the community.

Good information, thanks for sharing;)

Nice and detailed.
Great saying R.buckminster fuller .Should agree !!!

This is fantastic timing for us and our soon to be released social app. We see this as not only an integration into our app but a much bigger potential for monetization above and beyond the upvote feature. Our app is currently in beta and I'd love to get in touch with someone internally to see if we can start implementing this immediately. We could be a great testing case! Please contact me if that's possible. Thanks!

This sounds like amazing news for any business that's not able to compete with more mainstream sources while promoting the First Amendment!

Great article! - Still trying to wrap my head around Steem , much less SMT!! but what do you guys think about using SMT to make a gaming platform that pays players in crypto for competing. I wrote up some ideas about it here:

do you think this would be a viable idea? cause I would love to see this happen...

This is all sounding so incredible. With this development, it does seem there might be no need for individuals to own websites anymore. Getting a steemit account for that purpose will just be OK. The future looks bright, but intriguing.

Upvoted and Resteemed.

This news is amazing! Thanks for your take on it

Good article and info, I read about this earlier and checked out the white paper a bit. Resteemed! Thanks. :-)

Have a great day!

Thank you and you too have a great day ahead.

Thanks @firepower If you get a chance I left you a message on Steemit chat, I have a question for you if you don't mind. :-)

Very interesting I am new and just starting to understand, but hopefully it will not take to long to understand most of it.

your post is great, you should get a lot of rewards, thank you for sharing, do not forget my vote 100% yes, let's help fellow

Very nice and informative post thank you, so this surely begs the question, where will this leave facebook, twitter, instagram, youtube etc and in what time frame? Personally I see steemit to be the biggest in 5 years or less, economy of scales and all that. Cheers ;)

cool. i just checked this shoutmeout. i think its incredible

Your posts are amazing. And worthy of your reward is incredible .... You deserve a great regarding @firepowor

Thanks a lot.

We live in exciting times, thank you for the informative post!

You're welcome. :)

Great in depth post on the Steem game changer! Thank you for breaking it down for us.

You mean we can create our own currency?? I thought only central bankers could do that. LOL

Aapki ye post bhut achchhi hai so mai iss post ko resteem kar rha hu.and aapke profile word padh kar ke to mujhe aur bhi khushi mili.First ki aap ek Indian ho aur STEEMITAdmin ho aur aap ek stronger steemit community banana chahte ho wo bhi everyday.So I hope you will be upvoat me bcs I'm working with many people in a group.Thank you very much.@firepower

Thank you for sharing the view over this fantastic news we had today.

You're welcome buddy. :)

This is going to be a game changer. Excited for it to come and can't wait to start developing for it. My family runs a tech blog and it's hard to monetize but this would be incredible.

Wow, great news!

nice article

This is absolutely amazing news for SME's Small businesses may never need to rely on bank funding to grow their businesses, startups will have more options than begging on their knees for help and people can be rewarded properly for being active members and building communities! I love it! It is a revolution!

What is the grow potentional of Steem.. do you need steem to use smt?? or can every smt be the next competitor to steem?

I don't understand the excitement behind this. So you create a token that can be given out on your website. How will this hold value? I mean I understand that steemit really has no financial backing to justify the value, but this just seem to fragmented to me, but I guess if steemit ranks lower than your website I guess there is that argument. I guess I'm just a negative nancy at this point in time.

Dividends or some form of financial incentive will give a token value.

Fascinating. I suppose many people want their own coin these days. It seems like utility is what's most important though, no?

It should be interesting to see how well these can translate over to usability.

This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond

Thank you very much.

Thanks for sharing ,

Upvoted !

By the way ,I started following you and I would appreciate your follow back too .
please visit my blog and vote me too

Nice post keep on going.

Thanks a lot. :)

wow can't wait to see how people decide to use these tokens. Amazing... crypto really is a door opener to changing people's lives for the better. :)

Good information, thanks for sharing .

You're welcome. :)

Great post
Love from India

Spectacular. Upvoted and Resteemed.

Waoh!! Thank you very much for sharing. This is really a good material/ Helpful document. Thank you again.

You're most welcome. :)

I don't really understand what SMT really mean. I have tried to understand it but I can't. Maybe it's because I am still new to this community.

As mention in the post with SMT you can launch your own tokens, run an ICO, generate income out of your websites or blogs by monetizing them. Please check you'll get further details there. :)

Very informative.Thank you for sharing and a great post

Nice. Thank for the info.

Thanks for sharing, interesting times ahead for sure.

Yes, that's for sure and you're welcome. :)

These look so COOOL!!! so excited!

great future for steemit and user like me too. thanks for sharing.

Very nice info! Thanks!

Thanks a lot buddy! :)

thank you firepower, information, i like the your post thanks

interesting and but useful :) thanks

Finally we got something unique and productive thing . It can really change the way of thinking in the internet world.
This is the future .
Thanks @firepower for sharing this usefull information.

You're most welcome and thank you as well. :0

I'm looking forward to seeing how i can incorporate this on my blog. I recently posted about how adblock is a big problem for content creators and maybe these Smart Tokens would be the solution.

As you can see there's so many scam on ICO front, how Smart Media Tokens will try to reduce it, because as per my understanding its free thus it will atrract more scam. And then when there will be so much scam, governments across the world will try to ban once and all (Like China did).

So we need to make sure whatever ICO's are being built on Steem much be authentic and it should go live after thorough research.

Hi @firepower how an existing website owner or new website owner can implement there own tokens with Smart Media Tokens (SMTs). What is ICO? And how a website owner can raise fund and from where? Who will mine the tokens created by publishers?

Third article I'm going through on SMT today - it's getting a lot of attention for good reason! Great info by the way!

Thank you so much.


Great post! Interesting to know about SMT. Blockchain is revolutionizing the industry in different ways. I'm sure, it would be a hit for bloggers, people who own websites and publishers.

Steemit is also growing exponentially and lot of tools are being developer everyday.

Link to the roadmap post, if there is one please? Would like to see what all Steemit has in store for the days to come.

Let's say I have a website and I want to sell texts there. This can also be done using smart tokens directly on the site?

I have pressed the upvoted, resteem and follow button because Im on fire on steem!

i do not know much about SMT and trying see videos about it but what make me happy is i just see that post link of successful steemit in india and its was nice conforance about steemit as i just think indian people not take interest in crypto but as i see there is lots of people attended and its really nice thing to know that you encourage them and good conversation with them, i am from SURAT, Gujarat and if it happen in gujarat or Mumbai i try to join because its helping lot to build platform here.i am so happy after reading that post and indian people interest. steemit india Rocks..

Very logical job

I'm sure this brings a huge change in the money concept on the Internet. Good luck!

Thank you very much.

An SMT will be traded through STEEM, so we won't have a bunch of SMTs and STEEM just one of them. We will have STEEM, and then a bunch of SMTs on top of STEEM. Market-wise, this will most likely boost demand for STEEM, as a token.

Also, the SMT generation mechanism is way more complex than just a token issuance on the Ethereum platform. When you launch an SMT, you literally launch a thin layer of Steem-application-processes on top of your content, including your own rewards pool, your own inflation model, your own voting and curation algorithms and your own vesting mechanism.

Hope this helps.

I read the White Paper

This is a GAME Changer !!!

and hey ShoutMeLoud is your friend?


I learnt so much from his blog about SEO for my own Photography Blog !

Nice article bro
today i have posted my introduction as i m new on steemit
so hopefully you guys like it

how do i use the tokens and how do my readers use them ?

Firepower.I want to say this. That India does not help Salok ever. And the big guy don't help the little man. If you suck my point. So sorry to me.

So promising

Hey Firepower,

Recently I was approached by a publication in India which also runs a very large and popular forum in my country with a possibility of getting onboard on Steemit. Now they can simply use SMT to further monetize various aspects of their business and raise funds in addition to publishing content on Steemit if they should so desire.

THIS is why it's so huge. And businesses from small scale all the way to the failing newspaper business in major western countries could all benefit from what SMT offers.

I am so excited and it looks like other investors and traders are too. Check out my STEEM Smart Media Tokens + STEEM/USD and STEEM/BTC Charts blog featuring some price action :)

have read the white paper, and there is only one thing that I dont quite understand, I would like to know if:

Can the token Reserve be depleted by tokens sellers?

Hi! I represent the official ICO bounty program

We really like your activity on Steemit and I want to invite you to our automated Steemit bounty program.

You can get Stakes easily for every repost or post.

About project: /

Official bounty page and bounty thread –

Please, let me now about your decision in return message 😉

sounds like a serious game changer. thank you for your thoughts on it!

All of this momentum with Steemit and STEEM makes me wish I had heard about it months ago. As a relative newbie, I can't wait to understand the ecosystem here. How they managed to promote the entire platform is technically beyond me, but it seems so exciting.

I think STEEM and steemit are the real deal - I have been excited by cryptocurrency since I found it in 2013, but STEEM takes that excitement to another level!

Thank you for the article.

Great news!

thanks for this, saving to re-read later 👍

Thanks for keeping me updated. So awesome

Thanks for the info!

Good post, I am a photographer, it passes for my blog and sees my content, I hope that it should be of your taste, you have my vote :D greetings

Nice, we'll see how it develops!

How are you friends steemit hopefully still given the security and health.
And hopefully your days are fun, with your latest posts, which give a lot of inspiration and benefit to the loyal readers of Steemit.

@firepower your many great posts. This is a very interesting and useful post, so it is my heart's intention to read and see in detail the posts you share. I voted and followed you.

Thank you for your valuable ideas and information. Ads & Cryptocurrency can re-pay a lot, but cryptocurrency is just way easier ;)

hi firepower .nice to read about abdelkader from also new on steemit and welcom you to steemit ihave followed also follow me
best of luck

@firepower do you mind if I share this article to my blog off-site? I would run the first paragraph and link back to your article on STEEMIT and your profile. Let me know.

thank you for sharing do not forget my vote

It's look like promising!

Thanks for this amazing info!! This certainly is game changing!!

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