In this video, the host announces that the SteemDAO user interface is now live within the Steemit wallet following Hard Fork 21, enabling the community to vote on blockchain proposals. He explains the current financial strategy: a temporary pause on selling STEEM for the month, continued ad‑sales efforts, and the hiring of an advertising sales manager to boost direct ad revenue. The speaker outlines the proposal system, urges viewers to review and vote on active proposals—including his own—and stresses the need for cost‑effective projects that can generate revenue and raise STEEM’s market price (currently around $0.16, with a market cap of $50‑60 million). He discusses the importance of large‑scale funding for marketing and network growth, noting that while progress is being made, the network still relies on programmatic selling and will likely resume STEEM sales in October. The video concludes with a call to action for community support, voting, and subscription.
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Welcome back to the channel and some exciting news today for the Steem blockchain. The SteemDAO user interface is now live on the Steemit wallet. So to kind of help you understand what's going on with that, the SteemDAO is part of the Steem proposal system. This is an integrated feature now into the Steem blockchain after hard fork 21. That allows the community to vote on projects and proposals that they think can benefit the Steem blockchain. So I think this is a great step in the right direction. This is gonna kind of allow the community to more participate in the direction of the Steem blockchain, and I think that's great. So check it out, it's pretty interesting. They're also going to be disabling the selling of Steam. We will not be selling any Steam this month. We have continued to improve revenue generation through ads while lowering our expenses, but we're still a long way from covering our operating costs 100%. That being said, we have put ourselves in a position where we can pause programmatic selling as we are in this month. This is very important benchmark for us because it has, or it was not something we were in a position to do just a few months ago. So that's, that's interesting because I remember when I first arrived at Steam, I was like, how is this going to be sustainable? And everybody had their own theories about it. And it was like, well, we need to look at the new models. Advertising is not going to do it. And I was like, hmm, I don't know. Ads have been tested to work long time now, and I know it's good to kind of sometimes brainstorm, think outside the box, but it just didn't seem to work. So after 2, 3 years later, they've decided to do advertising, and it's starting to work out for them. Kind of think if they had did it 3 years ago, uh, you know, they probably would have been in a much better situation. But hey, it's better late than never. They're also talking about new ad sales hiring. Um, we have recently added a new advertising sales manager to ramp up direct sales and have switched to buy-sell ads, which is starting to pick up more bidding networks. With these changes, we believe we will continue making progress towards generating enough revenue to cover 100% of our operating costs. But until that day comes, we will still be relying on some degree of programmatic selling, which is why we could go back to selling STEEM in October. So STEEM, the STEEM Inc. has to pay some bills, and that's why it's important for projects to be able to create some kind of revenue. You know, also we're looking at that STEEM price, a market cap about $50 to $60 million. You know, obviously the more valuable STEEM is, it's going to be better for them, and it's going to be better for all of us. So we have the opportunity now as a community to target projects that are going to do that. You can look in your Steem wallet and you can vote on the proposals that we think are going to benefit us. Now I have a proposal out there. Obviously I'd like you all to vote and support it, but more importantly, here's, here's what I'd like to impart, and that is that In a situation like this where, uh, Steamit Inc. has operational costs, you know, we really don't— I'm gonna go out on a limb and say we really don't have money to waste. And we really got to think about when we vote on these proposals, are these proposals going to be cost-effective and put money back in our pockets? Is it going to benefit the network? Because if it's not going to do that. We certainly don't want to spin our wheels and waste money, uh, you know, so we want to be cost effective in that. I think in the long run it is going to help us out. But this system, uh, this governance system will give the ability for the community to participate and go after the projects that they think are going to benefit them the most, uh, and so Uh, that's how it's gonna have to go. Um, some of the projects, only a few have been approved now, but they got 3, I think, now that's been approved. And it seems like much of it is back-end work. Let me take a look at this. A return proposal. Uh, well, what else here? Um, and they're just talking about, um, I thought it was 3. I can't seem to see it now. Maybe I passed by it. Let me see. This proposal is quite different from the others. It asks for 240 million, um, Steam Back dollars per day. Um, so I thought it was supposed to be 3 here. That— okay, here it is. The top 3 proposals will be the top highest shown, and I guess it shows us on the Steam Wallet. But I mean, it's a step in the right direction. I mean, uh, it's miles away from where we were. The STEEM, at least we know the selling is going to stop at least for the month, and perhaps that'll give a chance for some peak prices in STEEM. But, you know, in October they're saying they may have to go back. You know where I'm at with this now, STEEMians, is that we're going to need a great injection of money. We're going to need a project that can do that. to make— if we want higher prices and we want a more valuable network. And, you know, we're really going to have to look and brainstorm to see who can do that and if it's going to be beneficial to us in the end. Um, and, uh, so check out the proposals, take your time with them, read over them. Let's try to make some good decisions here. You know, also the funds that are funding this project, you know, it's the pot is growing, so it's limited funds. Some of these projects are asking too much money. Our project is asking a tremendous amount of money, and that is necessary, I think, to turn the Steam Network around. Unfortunately, it takes money to really get things done how you need to. You know, as I've expressed in many business conversations with several people that when you're dealing with something like marketing, it's very expensive. And I'm more drawn these days to marketing and entertainment. That's what we believe is really gonna bring people in. People wanna enjoy their time, they wanna have fun on the networks. So it's gonna take a lot of money. You know, it's gonna take a lot of money to yield good results. You know, you get what you pay for. You know, that's just how things work. And so I think we're gonna have to move in that direction, but right now we are moving in the right direction. So we'll be leaving a link in the video to our proposal. And please come on out, support us. Let's try to, now that we got the tools available here, let's try to turn things around for the Steem blockchain. We're at 16 cents now. We wanna see some improvements in that area. And, you know, it's gonna, it's gonna take, it's gonna take a lot of work still. It's gonna take a lot of support from you all, and it's gonna take plans that are going to be able to bring people in. But glad to see the improvements in the Steem blockchain. Looking good so far, and I know it's gonna get better, and we're gonna start to get projects that can bring the value we need to this network. But that's all I want to say in this video. If you like content like this, don't forget to like and subscribe. And until next time, take care.
