How Do We Increase The Value of Hive

in LeoFinance8 days ago

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Hive is the platform which allows for tokens such as LEO(LeoFinance.io), POB(ProofOfBrain.io), CTp(CTPTalk.com), VIBES(MusicForLife.com) it's a fast, scalable block chain that can adapt rapidly when needed. However the price of Hive has slumped compared to competitors. What's really holding Hive back?

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The Hive Ecosystem

When it comes down to it the Hive ecosystem in terms of number of users that use the platform is relatively small. Every day we onboard thousands of people of which only a very select few invest or start taking part. This has increased over time due to gaming integrations and new communities being born with amazing leaders that help lead the way and onboard people.

Why is this hand holding required in most cases?

The onboarding process of Hive is complicated and honestly taxing to a new person. Simplicity matters and it matters big time. LeoFinance has done a great job with starting to simplify the onboarding process and I hear they are working on it some more. In fact this is where I send people to onboard them to Hive. It's an easier to use UI and less steps to "get started" and "setup" hive.

I'd honestly like to see this go one step further in providing a very simple signup off the block chain and then warm them into setting up their wallet and earning rewards. At the moment people are thrown to either figure it out themselves and no real documentation to read through.

The biggest issue is Hive being around for so long and the community here being around for so long that we have forgotten what it's like when you first stumbled onto hive. What a daunting task it was to understand and start using the platform. This complicated nature with no guide hits bounce rates of new sign ups hard. Unless someone is there to help them understand Hive I would imagine a good 95% leave and don't come back.

In short

  • Better onboarding is needed
    -- A simplfied process
    -- A walk through or documentation highlighting the points

At the moment I do this through a 1 week walk through for any new members I bring in through LeoFinance. This 1 week process takes them through the basics of understanding the platform step by step without overbearing them with all the extras. Simple join, comment and read, make your first introduction post and understanding your first payout.

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More Tribes/Communities

The beautiful thing about Hive is the ability to create your own token that runs on the Hive blockchain. This allows for huge possibilities such as new communities around topics such as recipes, finances, gaming, music, movies and tv and more. The possibilities are endless in terms of what can be done with creating your own token.

Right now it's a good amount of work and it seems to almost be a hidden secret as to what is really involved with creation and setting one up. Better documentation needs to be done on this end so those interested can get up and running quickly as well as understanding what type of investment is needed.

I see communities and tribes growing into some of the largest engagement communities ever. More interaction will happen on these front ends while Hive runs in the background. It will also be the main focus area for onboarding new people to the platform over hive.io

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More Apps

There's not many apps on Hive. You pretty much have a blogging platform and that's it. There's no real advancements here besides cloning Hives site and putting a topic/community focus on it. While this has helped grow Hive there are other things that need to be created.

I do very much look forward to ProjectBlank as I believe that will be the first sizable and scalable front end solution for getting people involved with Hive. These front ends however are MASSIVE undertakings make no mistake about it. It's why I feel these sections of projects should come down to the Hive team and not rely on the community tokens around it at least to start. We have a massive pool of funds which can be used for creation, innovation and truly building front ends that people want to use and interact with.

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More Games

Games are one of the easiest ways to onboard new people to hive. In fact front ends like Splinterlands and a host of others are a great way to onboard. The signups are easy for the most part which then leads them into the complicated nature of getting a hive account.

Just look at what a simple game like Alienworlds did to Wax and how a NFT collection for gaming content has boosted wax prices. There is literally no reason why NFT's and a marketplace for them can't be right here on hive. Again I believe the comes from using the Hive funds to build these types of products. Which brings me into the next.

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NFT Marketplaces

NFTShowRoom has shown us the possibilities with NFTs right here on hive. With over 7,000 works of art sold and 354,000 in Hive transacted it's still a small but growing NFT marketplace. There's huge possibilities right here on that platform to onboard artist who don't want to pay $60 to list a NFT. Yet for some reason there's no marketing plan for it instead there is only one to promote the front end of hive which I'm going to be honest with you is overly complicated compared to tribes and sites like NFTShowRoom built on top of Hive.

A solid NFT marketplace front end for all of Hive's games would be massive for the Hive community. It would allow for card collection, trading etc to happen right here on hive with little transaction fees. This marketplace would also start inviting in other developers who would WANT to build their game to use the Hive network.

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Each Person Is A Marketing Powerhouse

Every person that interacts with the Hive block chain currently is a marketing powerhouse and they don't even know it in most cases. Promoting your favorite hive game is a great way to spread awareness and bring new people in to play, If they enjoy blogging then sharing your articles on other social networks to get others to come and engage with your content in terms of comments and writing their own articles.

In fact one person recently tagged me in a article they wrote about one of my articles. I LOVE THIS! Expressing your own thoughts and opinions on topics in this way can be huge and spark innovation and creativity within Hive. No one person has all of the answers but there are people who have unique skills that make them more knowledgeable in fields such as marketing, development and business planning.

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Easier Ways To Get Hive

Right now, the options to buy, trade and get your hands on Hive are complicated and not well known. I believe this to be one of the biggest issues to Hives growth right now. It is only listed on a few exchanges, I see zero Fiat options and trading pairs are normally hard to find.

There's also no reason Hive couldn't build some type of DeFi platform or a simple swap system themselves.

In short, It's not marketing that's keeping Hive from growing. It's development, we need those front ends and we need those front ends simplified in order to grow a thriving Hive ecosystem.

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Let me know your thoughts, opinions and suggestions in the comments.
It's time we start sparking creativity and development around here.

Posted Using LeoFinance Beta

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Over the last few days I have found a good amount of info regarding onboarding a tribe, however the information is so spread out that it feels necessary to go on a treasure hunt to get answers. I think that after I have created my tribe in the next month or so, I would like to assist in publishing documentation for doing so in favor of the next person who wants to create a tribe

Posted Using LeoFinance Beta

This would be great, feel free to hit me up on discord if you need any help on documentation.

Absolutely, I will hit you up in a few minutes

Posted Using LeoFinance Beta

Only Koreans can do it.

Posted Using LeoFinance Beta

🤣 apparently that is the case

Yay! 🤗
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Delegate HP and earn more

Hire devs and pay them with that fat dev fund?

Posted Using LeoFinance Beta

I'm all for it or if there are people within the community that are devs and feel they can acomplish any of these things that that's what the funds are there for.

You're absolutely right mate. Simplicity is what could lead us to something much greater in Hive.... From my own experience I still don't quite understand how to exchange tokens or how to convert them to Bleo or Wleo for example. I think if we simplify those processes and make them more understandable, we will be able to attract more people from everywhere because they will understand the system.

Posted Using LeoFinance Beta

@bitcoinflood your post is educating and informative....keep it up


Posted via proofofbrain.io

The onboarding process of Hive is complicated and honestly taxing to a new person. Simplicity matters and it matters big time. LeoFinance has done a great job with starting to simplify the onboarding process and I hear they are working on it some more. In fact this is where I send people to onboard them to Hive. It's an easier to use UI and less steps to "get started" and "setup" hive.

I'm fully with you on all of these points. I don't want to be promoting hive as it is an eco-system. I want project blank to show my friends, so that they can jump into something cool and not worry about what is behind it. The same with games apps, ect....

Once they are in hive and have earned some tokens it is easier for them to try other parts of that eco-system. We need those applications to bring in users quickly and easily with no learning curve. Once they are in they will get more involved with everytihng else.

Posted Using LeoFinance Beta