We have a lot of things shaping up on Hive. This year saw major advancements at both the base and second layer. Fortunately, it appears things are just getting started.
Many see the offerings on Hive expanding at a remarkable rate. While this might not compete with the likes of Ethereum, it cannot be denied that a lot of opportunities are cropping up. This is going to play into the wealth generation that is created on Hive.
Of late, we discussed a great deal about the Hive Backed Dollar (HBD). There are a couple things that recently came out regarding this. This couple be one of the central pieces to Hive's success going forward.
Before we get to that, there was a Tweet that is worthy of mentioning. It is a goal that was set out yet does frame how the minds of some on here operate.
It is in the area of gaming, something that is starting to become a major force on Hive.
Source
The Hive Living
Many aspire to make their living off cryptocurrency. The idea of leaving a full time job and doing something online is a goal of many. We are seeing that possibility expand.
How does $100,000 per year sound? According to this Tweet, it is the goal of this project.
A bold goal to say the least. Getting 100 million people to earn $100K per year off their gaming is something that would certainly have an impact. Considering more than 2 billion play online games, the market is certainly there.
Even if they get to 1/100th of their goal, the @nftstudios team will pull off a major feat. Imagine 1 million people earning $100K, a solid salary in any country.
Thus, we could see a large number of people on Hive earning their living through a project like this. The #Play2Earn realm is expanding and some NFTs are showing even greater price appreciation than their fungible counterparts. As many are learning with @splinterlands, one's life can change very quickly through the in-game assets.
It is also helpful to remember the 1UP project is starting to offer different ways to leverage the expansion of gaming on Hive. This could be another layer that is tied into the gaming that is brought out.
HBD Sinks
In past articles, we discussed the "chicken or the egg" situation with the Hive Backed Dollar (HBD). This is something that is going to take some time to unfold. We need more HBD on the market. However, for that to happen, there will likely need to be more sinks.
Essentially, we need more HBD produced while also giving use cases that can incentivize people to hold it. This was one of the main idea behind [Hive Bonds}(https://leofinance.io/@taskmaster4450/hive-bonds-the-next-step-in-hbd-evolution). Here we discussed something at the base layer.
Of course, there is nothing that prevents Layer 2 applications from implementing HBD into their workings. It appears that Leofinance is going to do just this. When discussing the top end rate for Hive Bonds, here was the response on Twitter:
The idea is that HBD will be integrated into one of the Cubfinance Kingdoms. It is hard to know what it will be paired with but we are going to see a HBD pool that provides a fantastic rate of return. Even at 25%-30%, this is very good on a stablecoin.
This will not produce more HBD since it is a second layer solution yet it does provide a sink for HBD. It is a way for people to utilize their HBD like they do Tether or BUSD.
Naturally, the most sensible use of a stablecoin is for commerce.
Hivelist
Hivelist is really starting to do some interesting things on Hive. We are seeing the combination of a multiple of offerings on Hive combined.
Their latest is the introduction of Bitkicks, a sneaker line that is available on their store.
The first thing that jumps out, especially as it relates to this conversation is the fact they accept HBD. Here we see commerce starting to be integrated. The key to a stablecoin is to develop a payment system around it.
So basically it is now possible to post on Hive and end up paying for your sneakers out of the rewards. This is step in the right direction whereby people can start to pay for basic necessities through their Hive activities.
That said, there is another aspect to this particular line of products that is very interesting. We know there are many artists who are putting up their works and selling them as NFTs. For the most part, the industry is a combination of collectors and speculators. Very little is being done, thus far, for real world applications.
Hivelist is taking a bit different approach. When reading their latest post, we see this:
@thelogicaldude has been going through @NFTShowroom and purchasing Limited Reproduction Rights NFT artwork to use for our shoes and other items like TShirts and more. Many of the NFTs purchased will stay with @thelogicaldude or the @hivelist accounts to represent the licensing for the artwork.
Here we see a project that is looking to integrate a few different aspects of the Hive ecosystem. The idea is that artists on Hive could end up having their NFTs purchased and Hivelist utilizing this as a way to create physical products.
It is evident there are more layers to be added to this concept:
Some NFTs will be purchased and offered with a one of a kind pair of sneakers custom made to your size! We are looking to offer these in an auction style format once we have that functionality available... Which is coming in Quarter 1 2022!
Perhaps one of the games that NFTStudios is producing will have a NFT that applies to some "magical sneakers". This can be a limited edition that is also tied to a real world pair of Bitkicks that Hivelist produces. Through the in-game purchase, not only does the NFT provide the powers for the game, one can redeem if for a physical pair.
Compounding
When dealing with a complex system, the slowest stage is early on when things are individual and separate. However, as a few things start to get into place, the compounding effect takes hold. The example just mentioned shows how convergence of applications and ideas is what really thrusts things forward in an exponential way.
Here is where we see value skyrocket. Each new addition seeks to leverage what was laid before it. This will not only enhance the new project but also benefit the previous one. When Hivelist is buying NFTs, that benefits whatever NFT "store" it is being purchased from.
A year ago, Hive was still very fragmented. Now, with the expansion over the last year, we see how things are starting to come together. Innovation is taking place by looking at what is available and combining it. As more projects take advantage of what is already developed, we see how layer upon layer is produced.
Hive is quickly becoming the land of opportunity.
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