Hive Compounding: Legacy Content And A "Royalty" Reward System

in #hive-1679222 years ago

Hive is a constantly evolving ecosystem. Because of that, we are seeing many different ways for content creators to be compensated. That is something we can expect to continue in the future.

While many have promoted Hive as a get rich quick scheme, the reality is fantastic returns can be garnered here over time. It is not going to happen overnight and will take effort. Nevertheless, it is possible.

At this point it is safe to forecast Hive as a content creator's epicenter going forward. We already see a variety of ways rewards are handed out. Multiple media platforms are emerging. Between long form, microblogging, video, and podcasting, we have a lot to offer.

There is one area that is presently overlooked. This is an area that we could also see radical change. For now, it is a dead area yet can be brought to life.

This is legacy content and it might be the next phase of compounding for those who utilize Hive.

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Pumping Life Into The Old

Hive operates based upon a 7 day voting window. This means that anything outside of that is not eligible for rewards. From that standpoint, it is a dead area.

Naturally, this content still can carry value. However, due to limitations of the system, we see how it can no longer be monetized. This is an area that is long discussed and could be changing.

There are now a number of projects that are proposing ideas in this area. While there are few details, they are discussions about how to revive the old content. We will cover a couple of them here.

Value-4-Value

This is a rather straight forward approach. V4V uses the age old approach of tipping. This is where one takes a few resources out of his or her wallet and sends it to the content creator as a way of saying "Nice job, I appreciate what you put out." The Streaming Sats project that he built on Lightning Network allows people to send Sats to content creators. The best part is, for those on Hive, it can be converted into $HIVE and show up in your Hive wallet.

Any content is eligible for this.

Veews

This is a project that came out a couple months ago. This is a content discovery application similar to the old Stumbleupon. Basically this uses machine learning based upon the thumbs up or down content is given by the Veewer. The goal is to create a profile of what that person likes so more of if can be found.

For the near term, only content on Hive in the 7 day voting window is shown. This will ultimately be expanded to include all Hive content from the genesis block.

We do not have the tokenomics from the Veews team yet. However, on a number of occasions it was stated that older content will be eligible for some type of rewards. How that will ultimately look is anyone's guess but it will end up being a part of the system.

3Speak

Here we have the most popular video platform on Hive. Like most everything else, rewards on that application are only within the voting period. Later this year, that could change.

The 3Speak team stated a couple times their intention, at some point, is to bring out a token. The advantage of layer 2 is that it provides the opportunity to experiment.

With regards to legacy content, there are ideas of how to incorporate an on-going voting system whereby the token is doling out rewards. Again, we do not have details so we just have to wait.

Do The Work Once, Get Rewarded Multiple Times

It is often difficult to embrace stuff when it is in the planning stage. There are discussions about legacy content yet little that is live other than V4V. Nevertheless, we are moving in that direction.

The advantage for creators is that once the content is out there, it can become an earner. Here we see why being consistent and dedicated to Hive could end up paying off. The likelihood of content being seen increases as more is created. Some of us have 5+ years of content that was posted on-chain.

And with the introduction of many new applications, there are now even more ways to create.

Hive was always about the long-term view. Consider how things will look if some of the ideas being discussed are implemented. Suddenly, hundreds of posts could be eligible brought back to life from a monetization perspective. Essentially people could have money flowing in to their wallets for work that was done years ago.

How cool is that?

Actually, there is nothing novel about this. The difference is that only a few content creators enjoyed this. Royalties are how musicians and other artists can make a fortune. Imagine being paid on a song that was written 40 years ago.

This is essentially what is being designed for Hive.

Layer 2 opportunities are endless. Once the infrastructure is in place, we are going to see the potential to experiment with all kinds of ideas. One things all project teams have in common is they pull data from the blockchain. Having it content stored that means it can be incorporated into whatever they are building.

This could be a fantastic opportunity for Hive. If projects figure out a way to reward older content, there is incentive for creators to make this a place where they focus their efforts.

Those who are here now are trailblazers. It takes some foresight to be able to see what is not yet here. However, with the discussions, it is easy to envision how things could change if some of these ideas are implemented.


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Tipping old contents with rewarding on the blockchain seems Cool, it's a good project and which I believe so many people that has put on valuable contents from the past will still benefit from this.

It indeed a great one, one can earn alot from the past

True, thank you @officialrosh1

It is an interesting proposition. We will see how these projects unfold throughout the year.

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It will be one of the best time ever, when it commence, thank you for saying this @taskmaster4450le ☺️

I hope the devs do add something to add value to older content. It will definitely make it more worth it for people to write content in a way to last forever. I am wondering if voting past that window will give a penalty.

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Sounds like a great idea, show up every day and keep old content earning when its relevant to the viewer 💪👍

Essentially people could have money flowing in to their wallets for work that was done years ago.

Wow! Royalties on a chain! That would be great!

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Well it would be mostly layer 2.

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

I just did

Collections are a practical way to put together and repurpose good content. Like libraries or photo albums, make them easier to expose and find. Collections could be open to persistent voting to distribute rewards.

It would be better if lifetime reward system could be in practice because seven day reward for contents such as video might not be reasonable.

Yes exactly my thoughts.

If we invite famous youtubers like MrBeast to join 3Speak, he would surely decline since it only rewards for up to 7 days.

Youtube videos usually reward them for YEARS.

And they know that lots of people will not get to see their videos within 7 days since we all have different activities aside from watching youtube/3speak

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Right, no one would like to record and upload a video for seven days rewards. This comes odd to me since DTube times.

Curious to see how many would use V4V to tip content creators. I'm not saying it's impossible though.

Tipping isnt huge in terms of the percentage but the number of people online makes it so there is a fair bit being done.

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I have used the tipping feature in Hive to reward old content. Authors get delighted to receive it like its a gift and all...

Nice to hear so many other developments happening here, definitely very cool!!!

I have not been able to checck outher Hive apps much, so information on it is very useful and informative!!

We will see what kind of innovation rolls out on this. There are a few projects that I know about discussing it. I would bet there are more that I am unfamilair with.

Either way, it is good to see.

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I am looking forward to this.

Most of my content is GOLD and the early content gets a good set of views from Pinterest.

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As an author looking to monetize my work in the best way possible, I really appreciate the insight that this article provides. Thank you

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It will be very cool when this concept fully becomes a reality. Creators will be encouraged to create dynamic contents that have the potential to be rewarded in perpetuity. Hive is the place for creators.

It coudl increase the appeal of the entire ecosystem.

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Yes Hive is really cool!
It is an ecosystem that will have great developments and will be able to make the fortune of many people, you just need to work, be patient and far-sighted.

Whoever seeks wealth overnight can only hope for the winning ticket, but this does not create wealth or value.

Hive is for those who want to add value to the lives of others!



The rewards earned on this comment will go directly to the people( @taskmaster4450le, @tadesaurius2323 ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

That's pretty cool about Veew's. I hadn't heard that yet. It's hard to keep up with all the Discord servers that I am in and all the projects that are promoted on HIVE. It's a full time job!

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Veews is a great app. It is one of my favorites to breakthrough and start to excite some people.

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Interesting ideas being thought about with the old posts coming back to life. I do think Hive holds more value by not being a quick buck type blockchain and it takes time which then holds Hive in having more value as time also requires effort and commitment.

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The old posts are locked into the blockchain (text ones at least). It is up to the community to figure out how to pull that old content back to life.

It will be interesting.

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Just like communities amongst others were nonexistent in the early days of Hive, older content being eligible for rewards could become a norm in the future and we will look back and remember the days of 7 days of content reward eligibility.

The possibilities are endless, it only requires ideas to be transformed into reality.

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The possibilities are very interesting. We will see what unfolds are teams toy around with the idea.

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This is what I was looking for.

I really think blog posts here should have long-term rewards since that is what makes blogging more attractive. It was supposed to be a form of passive income in the future when you really create good contents that will be searched 5-10 years from now.
Contents that will still add value even outside of HIVE and even more rewarding when more users are onboarded here and they then get to vote.

Another thing that should happen soon is for 3Speak's long-term rewards if it wants to compete with youtube.

It really is hard to go viral in 7 days more so being searched in algorithms like Google search so I think this long-term rewards would really help.

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Reward pool time periods have to be capped. The needs to be a point where the votes are tallied. There is a daily allotment to the pool so it has to be distributed based upon votes during that period.

That is why layer 2 solutions have to experiment and figure out another way.

No easy but doable.

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Oh yeah. I agree HP should not be fixed as it is already beautiful in its own way. Layer2 solutions would really be the best way to do the long-term passive income aspect of it.

I hope layer 2 developers find the best way to make this rewarding in the future.

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Before the 7 day payout window the windows were 24 hours and 30 days, so to say that more than one payout window is not possible is not accurate.
I don't know what technical issues that raises, but I do know I liked it better.
Perhaps if rewards were tied to receiving accounts, and not individual posts, this could work more efficiently.

This would be incredibly useful for tutorials. One of the reasons I think Hive can be so difficult to navigate for new users is the lack of tutorials that you would see "pinned" or "stickied" on other platforms.

It would also incentivize authors to keep their tutorials up to date.

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Tipping is already implemented in the peakd frontend … is this being used? is there any data about the use of it?

The advantage of layer 2 is that it provides the opportunity to experiment.

Correct me if i’m wrong, but what about $LEO, that’s a layer 2 token either so it doesn’t necessarily has to be bound to the 7day monetization window and could be open to experimentation, right?

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Yes LEO is a layer 2. The problem is you need some window as to when to total up the votes to distribute the allotment in the reward pool at that time. You cannot keep it open ended.

But the Leofinance team could innovate other ways to get older content rewarded. Not sure how it could be done though.

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Yes, I understand that there must be some kind of window, but what is the reason why this window cannot be reopened after a distribution? Instead of “after 7 days” it would be “every 7th day” or “every week” then 🤔

💯%! These are the type of conversations which allow the creative sparks to fly.

In 2021 I saw what Hive had to offer creators mirrored in many ways what I was seeing happen in the Podcasting 2.0 space. Which is why I often talk about #Value4Value as a model when explaining both Web3 to creators and Podcasting 2.0 to podcasters.

The #Value4Value model created by Adam Curry and John C. Dvorak for their No Agenda podcast is now part of the foundation from with Podcast 2.0 is built upon. Of course it is so much more than that now after 2 1/2 years of development from Dave Jones and app developers from around the globe. Reference Podcast Index

I like to think of the value block as the gateway or entrance ramp which piques podcaster's interest to look at what Podcasting 2.0 has to offer. Once they see just how rich and fertile the land is, they quickly shift to embracing more and more of what the Podcasting 2.0 namespace has to offer them and their listeners.

Regarding rewarding content long after the organic 7 day payout, the #V4Vapp which was built by @brianoflondon is a bridge which for me as a podcaster with the value block in my RSS feeds converts SATS to HBD. These SATS sent from podcast listeners automatically show up in my wallet as HBD. Cool, right?

I am surprised when I randomly receive HBD in my wallet because someone heard an old episode of the WalkTalkChallenge and sent me some SATS. These are episodes that are long past the Hive payout, but are still rewarding me through Podcasting 2.0 which increases the long tail value of each episode and my Hive wallet.

These types of creative ways to continue to give and receive value directly from one another as creators keeps me evangelizing the value of being a creator on the blockchain.

Thanks for the post. It was a great companion to my morning cup of coffee. Cheers!☕️

It is always pleasant to get an unexpected reward. This could hold great appeal to those creating content.

We will see where it all goes.

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