@steemhunt Is Showing Me How We Are Going To Make A Living Off The STEEM Blockchain

A lot of what I write about regarding STEEM are projections and forecasts. Being a student of technological trends, I arrive at my conclusions based upon what I see happening with STEEM, blockchains, and technology in general. The enables me to project the trend and pace of how things are going.

What I am going to touch upon here is not projection, This is taking place right now.

@steemhunt caught the imagination of many Steemians. I have to give credit to the team behind that project. They are innovative with their ideas as evidenced how they financed their start. Also, they are receptive to feed back and quick to correct things. This is reflected in their move to do away with the resteem payouts since many were using it to "spam" the feeds of others.

Like most new applications, I do what I can to support it. For that reason, I threw a couple votes to people each day in an effort to make the application more successful. After all, they are Steemians who are posting on there so supporting them is beneficial. I also did some commenting to provide some activity.

I will admit I am not a great student of the "hunting" game. Personally, I am not a huge gadget person so a lot of finds aren't really high on my list. That said, while it appears to be a niche market, there is a big market out there for those who like that stuff. Overall, this could be a successful project.

For those who do not know what @steemhunt is, this is a site where people can post "finds" off the Internet. It can be in the form of products or applications. People put up what they find to be interesting which can earn them Hunt tokens based upon the upvotes, just like on the other STEEM applications.

Hunt is going to be one of the early tokens created using the SMT protocol. They are utilizing the ERC20 protocol on Ethereum to bring their token to market since the SMTs are not available yet. However, once the protocol is out, it will be switched onto the STEEM blockchain. In the meantime, Hunt tokens are doled out into an Ethereum wallet that they set up.

The reason why this captured my attention is that it shows me what the STEEM blockchain is evolving into. As I stated, this is not projected but what is occurring right now.

People are earning Hunt tokens for their participation. At the moment, there is no value set on the tokens but that will change. Upon completing the shift to the STEEM blockchain, the Hunt will be paired with STEEM. This will provide liquidity to that token while giving those who have it options of what to do with it.

Many discuss how the distribution of STEEM is overwhelmingly in the hands of a few accounts. This is true. It is also a fact that it is getting more difficult to earn STEEM as the usage of this blockchain picks up. Collectively, smaller accounts can take home a fair piece of the pie but, individually, it is tougher to get ahead.

For that reason, every Minnow and Plankton ought to be on @steemhunt amassing some tokens. This is a place where one's upvote has value. They use account based voting as opposed to stake based. Being so new, it is easier for one to earn tokens since there are less people on there.

The total number of Hunt tokens is going to be 500M, about double the STEEM that is outstanding. Using this as a guide, I found that getting a thousand Hunt is not too difficult. Applying STEEM categories, this would be a Minnow. I foresee over the next month or two earning enough to become a Dolphin.

If we consider how difficult it is to reach Dolphin status with STEEM, this should be refreshing to all who are reading these words. Of course, the price of Hunt might not equate to STEEM in dollar terms so that is something to consider.

However, once @steemhunt is fully converted to STEEM, these are the options:

A) Convert Hunt to another crypto or fiat.

If one needs the money, this is a viable option. Being on STEEM's decentralized exchange, the Hunt can be converted to STEEM then moved to an external exchange to have it end up as fiat. One can amass Hunt with the intention of cashing out.

B) Convert Hunt to STEEM

The pairing with STEEM makes it ideal to use a SMT like this to power up. Hunt tokens can be flipped into STEEM which than can be used to power up. Hence, your activity when earning Hunt could actually improve the standing on STEEM.

C) HODL Hunt

One could opt to just HODL the Hunt tokens to see what the price does. This might be a good way to remain diversified among tokens which is never a bad idea.

Many will say that B is a great idea but I would not discount C. The reality is we have no idea what plans @steemhunt has for the application. What we see today is only version 1.0. Perhaps we will see many other features and components added over the next 6-12 months which could expand the potential market.

Another benefit to HODLing is that the Hunt, along with Appics, will be one of the first tokens created using the SMT protocol. How this will benefit this application remains to be seen. There often is an advantage to being an early entrant into a particular area. Being one of the first SMTs on the STEEM blockchain could assist the visibility that the @steemhunt project gets.

Either way, one has the option whichever way he or she wants to go.

The reason why this is showing me how many of us will be making our living off the STEEM blockchain is because this is just one token. As I witness what is taking place right now, I project ahead to when there are 100 or more SMTs on this blockchain. People are going to be earning tokens from many sources. Hunt is showing me how much of an advantage it is to start amassing a particular token early. As more start using the application, the amount distributed to each person dwindles.

People are earning tokens on Steemhunt.com as I write these words. Like most things in the cryptocurrency world, we are unsure how this will turn out. My perspective is simple: it does not hurt to have another potential income source and amass what I can. Since it is all part of the STEEM blockchain, the stronger that @steemhunt becomes, the better it is for all of us.

Who knows, a couple thousand Hunt could be valuable at some point.

So get over there and get yourself some Hunt.

If you found this article informative, please give this an upvote and resteem.

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Pictures from Google Images