Leofinance Is Bringing Web 3.0 To The Table
We talked a great deal about Web 3.0 and the potential it has. When we look at the combination of social media and finance, we can see how things can change. Key in this is account ownership along with people not being the product.
In this video I discuss how we are moving closer to the time when a new business model is fully implemented. This revolves around the creation of revenues that is used to buy the token on the open market and deliver it to the stakeholders. This is a radical departure from the feeding of the shareholders of Faebook and Google.
▶️ 3Speak
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Amen
The usage of ads here, to benefit the community, is exactly the implementation of one of the many visions promised with Web 3.0.
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Summary:
In the video, Task discusses the emergence of Web 3 and highlights recent developments InLeo Finance that are bringing the community closer to going live with their ad revenue project. He emphasizes the importance of users being able to benefit financially from social media platforms, contrary to traditional Web 2 models where users are the product. Task delves into the details of how the ad revenue generated on LeoFinance will be used to buy Leo on the open market and then distributed to stakeholders. He envisions a future where other projects on Hive may follow suit in integrating similar revenue models. Task also proposes the idea of using Leo as collateral and discusses the potential for growth and value creation within the ecosystem through these innovative approaches.
Detailed Article:
Task's video is centered around the evolution of Web 3 and the progress being made within the LeoFinance community regarding their ad revenue project. He underscores the fundamental principles of Web 3, which focus on users benefiting financially from their participation in the platform. Unlike conventional Web 2 platforms like Google and Facebook where user engagement translates directly into profits for the company, LeoFinance aims to redistribute the generated revenue back to the community in the form of the Leo token.
He elaborates on the technical aspects of the ad revenue project, mentioning the API server set up and tying analytics to track user engagement. The revenue generated externally is used to purchase Leo tokens, which are then distributed to stakeholders based on their stake (Leo power) in the platform. This process aligns with the vision of Web 3, emphasizing user empowerment and financial inclusion within the decentralized ecosystem.
Task also emphasizes the potential impact of LeoFinance's innovative approach on other projects within the Hive community. He predicts that successful implementation and demonstrated benefits of this model may likely inspire other projects to adopt similar revenue-sharing mechanisms, thus fostering a more decentralized and user-centric environment overall.
Furthermore, Task proposes the concept of using Leo as collateral, enabling users to leverage their tokens for loans without selling them, thereby allowing for continued participation in revenue-sharing while accessing the token's value. This strategic use of Leo not only enhances user engagement but also opens up possibilities for further value creation and expansion within the ecosystem.
In conclusion, Task envisions a future where communities like LeoFinance serve as models for building decentralized platforms that prioritize user involvement, financial incentives, and community-driven growth. By fostering a culture of innovation and collaboration, these communities have the potential to transform the landscape of social media and digital finance, setting new standards for user empowerment and community development in the Web 3 era.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.