Steemit is a new blockchain powered social media platform where the users and content curators get awarded by participating on the site. The platform is live and is currently in Beta.
To participate is simple, the website is a blogging platform, you post and if users enjoy the content you created they up-vote you, these up-votes translate into money. Not only do you get paid for providing content, but you can also earn by curating content. When you upvote a post you will also get a share of the funds the post generates.
Recently an electronic billboard went live in Durban, what’s more is no one paid for it, it was completely crowdfunded on the Steemit blockchain. You can see the original crowdfunding post on steemit here. This billboard demonstrates the power of the platform, essentially, the billboard was funded by up-votes.
Not only is Steemit set to take Durban and South Africa by storm but it is already gained huge interest worldwide over the last 2 months.
Steemit recently saw a surge in traffic and interest as expressed by this recent Google Trends chart. Steem currently has a market cap of around 2.3 Billion Rand according to coinmarketcap.com. Not bad for a social media platform which is still in Beta and was only announced in March.
I would also like to point out there is no fee for signing up, infact you get $7 in Steem Dollars simply for signing up. (Posts are rewarded 50% in Steem Dollars, 25% in Steem Power and 25% goes to the curators) You can start posting immediately and if the community enjoys what you have to say you will earn in the form of Steem Dollars (SBD)