Dan Larimer on Steem, Community and the Grand Vision
"After July 4th, depending on the market cap there could be several thousands dollars per day awarded, but right now it’s sort of in this bootstrapping phase where there’s about 2 million dollars to be divided among all of the post. So it’s a great opportunity to come and provide original content, but more importantly a place to build Community and we’re really working to enhance the platform.
What you see now is not where it ends, it’s very very early in our grand vision. But together we can do what we’re already doing on the other forums, like BitSharesTalk, and we can just do it better and in turn help fund the things we’re interested in."
-Dan Larimer, during the May 6th Hangout
Does Steem have any VC backing it, or is that $2 million entirely from premining/valuation on the exchanges?
It's from the blockchain's 10% token distribution and the trading value on 3rd party exchanges.
afaik it does not.