Nick Chong · 7 days ago · 2 min read · Insights via Grayscale Investments
A screenshot of what appears to be a message from Block.one CEO Brendan Blumer reveals that he expects top social media influencers to be able to generate $50–100 million in revenue from Voice, EOS’s new social media platform.
In the message, Blumer suggests that top influencers capable of bringing 50 million followers to the new service would be able to generate tens, if not hundreds of millions of dollars and redefine their net worth. He adds that attracting such influencers to the platform will be a central focus for the project’s marketing efforts.
CryptoSlate reached out to Block.one and Brendan Blumer to verify the message. So far, neither has provided comment.
Making money on Voice
“Voice is a more transparent social media platform for the world, where the value of good content gets circulated right back into sustaining the community, not corporate bottom lines.”
Developed on EOS, all content posted to Voice will be publicly recorded on the blockchain. The platform will leverage the VOICE token to reward content creators and let them promote their content. To minimize spam, all users will be subject to an identity check requiring a government-provided ID. Users will not be able to mine or purchase the token directly but instead receive a daily airdrop of VOICE tokens they can use to promote their content. As Block.one CTO Dan Larimer explains,
“We believe everyone deserves a voice. This is why the voice token has the fairest distribution in the world.”
Whether or not a daily airdrop of VOICE tokens results in the “fairest distribution in the world,” it’s clear that Block.one’s leadership wants to appeal to content creators who believe the platform could provide them with a significant source of income. Block.one has yet to elaborate on how the company itself will profit from the platform.
A long way to 100 million
It’s difficult to imagine who Blumer might have in mind when referencing influencers with a hundred million followers. Even the Instagram accounts of top influencers like Miley Cyrus and Katy Perry don’t top a hundred million followers, though they do come close at 90.7 and 78.2 million, respectively (as of April, 2019).
If the strategy for Voice sounds familiar, that’s probably because it echoes the approach used to promote Steemit. Launched in 2016, Steemit enticed content creators by featuring wealthy users able to generate sustainable incomes by investing in the platform’s tokens. The platform promised to improve the curation of content by rewarding users for posting and curating content using a set of tokens.
Steemit gained a modest following among the cryptocurrency community but has failed to generate widespread appeal. The website currently has a little over a million users and the company laid off 70 percent of its workforce in the fall of 2018.
EOS Social Networks
“EOS already has a social network with traction–it is called Everipedia. Our team is the most talented and we are building additional dapps on the IQ token as well. Voice should be on the IQ token and Sam Kazemian should be in charge of building it. He’s the next Mark Zuckerberg.”
Will Voice be able to succeed where Steemit has failed? With $150 million invested in the project, Block.one is making a serious effort to do so.