How will SteemSports improve and Grow the Steemit Community?

The Sports Betting user-base market capture, is itself a strong motivator for community support of SteemSports, however @steemsports also addresses the growth “bug-bears” which currently challenges the Steemit social platform.

Economic inequality between users

Currently there are valiant efforts underway by curator initiatives such as @robinhoodwhale, @curie and @teamsmooth, however there is still a high turnover of users who do not receive sufficient content rewards and cease to be active as a result. SteemSports addresses this issue by taking on a supportive role in aiding Steem Power redistribution.

Upon distribution of winnings, all winning entrants will receive an equal share of the Steem pool, paid out in the form of a Steem Power-up! In minutes, hundreds, if not thousands of winning voters will receive SP in their wallets to aid them on their Steemit journey to be able to upvote other writers and friends and participate in the community.

Some whales may not wish to receive rewards for themselves to help equalize the community, and would like to vote only to increase the Stake Pool and not receive SP; in such a case they are easily able to vote the main post, and disqualify themselves by voting multiple comment outcomes. I do however recommend at least for the first post that whales do participate and join in the fun of trying to predict the outcome along with the community.

Gamification

There has been an interest from Steemit, Inc in increasing the gamification of the platform, SteemSports answers that call. Not only is it a game itself for users to participate in by voting, but it requires further gamification prior, by leveling up ones Reputation to at least 35 to be eligible for a payout of the winnings Stake Pool. This may be increased to 40 in time or as per recommendation by the community.

Many other gamification spin-offs may occur as a result of this initiative; our script is currently proprietary but once we have fine-tuned and tested it extensively, we will most likely create a web front-end whereby users can activate the script for their own content and distribute payouts to their supporters for a small % transaction fee. Furthermore, possible licensed integrations with steempay.io and Blocktrades could be negotiated. (In the meantime I can run the scripts manually for you if you contact me in chat with a non-competing gaming idea, steemit.chat).

Job creation and Alternate income streams

As with the @steemdrive billboard campaign, where we hire liaisons for a share of the SBD payout, we will do the same here at SteemSports, giving good sports writers and editors a platform on which to showcase their talent and engage with the community while earning the intended SBD, economic currency.

As the games become widely popular, we may even see cameo appearances of well-known sports commentators and sports stars who may join Steemit to take part in presenting SteemSports.

Supporting the Steem Dollar Peg

In a recent post, Steemit co-founder @dantheman wrote about efforts to stabilize the Steem Dollar to its intended value of 1:1 with the USD.

SteemSports will utilize the recommend method of internally converting Steem Dollar to Steem via the 7 day average, allowing witness feeds to adjust the conversion as close to 1:1 as possible.

Furthermore, since only 30% of the total payout will go the content writer, editor and account retention fund, 70% of the SBD will be taken out of circulation via the conversion and Power-Up, thereby limiting supply of SBD in the market, thus helping support the peg.

Economic Support

Eventually once the inequality “playing field” has been levelled acceptably, the games can be switched to rshares mode, which reward users in accordance to their SP holdings and vote weight percentage cast on the vote. This will incentivise users to purchase Steem and Power-Up further as a result, to enhance their stake pool winnings, but for now however we will run in equal distribution mode to help the community.

We will take our queue from the community and Steemit, Inc on suggestions on how to best help the economy, if SBD payout becomes preferable later on, we can adjust the script or even to a hybrid SBD/SP or Steem payout depending on what market liquidity is required.

Steem Price Improvement

Currently the top grossing users, known as Steem Whales, are powering down, partially in an attempt to provide liquidity to the market so new users can buy into Steem at a low rate and “Power Up”, while decreasing their own SP holdings to try equalize the market and slowly bring themselves down from their position of high inequality.

@steemsports now creates an alternative way for Wales to distribute Steem, by voting on the games and adding to the Stake Pool to be distributed to the users, instead of powering down and affecting the Steem Price negatively. In so doing, Whales will help bring users up to their level rather than bring themselves down in SP stature.

The Powered-Up Steem will have the effect of reducing supply in the liquid market and may help drive the price up.

Furthermore, potential external investors will see the versatility of the Steem blockchain platform and be more likely to fund further development and initiatives, as an example, we would be open for investment to develop our steemsports.com domain into a fully-fledged sports specific portal, connected to the Steem blockchain, I believe via RPC function calls.

Multi-country and muti-language support will also be key for mass user adoption of SteemSports and the underlying Steem blockchain.

Marketing

Steemsports.com may just be the “silver bullet” needed for mass user adoption of Steemit; as not all users wish to be bloggers or even read content and may prefer to ‘play’.

SteemSports will tap into the sports communities through its unique offering of Sports Betting without the requirement of putting down any direct monetary stakes, and still winning voters’ rewards for voting early on the post even if they don’t pick the winning outcome.

The games also acts as a form of pseudo-affiliate referral system, incentivizing participants to make use of the new “REPOST” button and their existing Twitter, Facebook and LinkedIn social media accounts to attract other voters to increase the Stake Pool.

It is beneficial to attract voters with SP holdings higher than one’s own, as well as new users with low reputation to join up and vote.

The Reputation requirement is tailored to stop spam accounts from being created to take part, but still incentivise users to use SteemSports as a 'honeypot' to attract new referrals to experience the fun and excitement, the new users will vote and increase the payout, activity and visibility of the post, but not necessarily be paid out themselves until they have enough reputation for future games, which they soon will be motivated to participate positively in order to gain the necessary reputation to earn by winning on Steemsports.

Curation

The @steemsports account will be used to support initiatives such as @robinhoodwhale, project @curie and to vote on sports bloggers within Steemit, thereby further aiding with curation and Steem Power distribution.

Summary

A new concept of Sports Vote Betting has been born, due to the versatility of the Steem blockchain platform. Steemsports.com will become a provably fair method of betting with no risk and only rewards; the initiative can be used to bet on any outcome much like the Augur Prediction Market, but without the pay-in.

Steemsports.com could easily become the much needed nicotine patch for gaming addicts to continue enjoying gambling with no detrimental personal financial implications while still enjoying their favourite past time. Any money spent on Powering Up, will remain in the user’s account regardless of how much the user votes and will remain as a form of redeemable shares in the platform with a market value and in-platform utility.

Sincerely,

Support SteemSports Ultimate Vote Betting … together we all can win!

CLICK THIS LINK OR IMAGE TO PLAY THE FIRST STEEMSPORTS GAME!!

Disclaimer:

• Images used in this post are either paid for and modified or are Creative Commons (CC).

• @steemsports reserves the right to amend future payout percentages based on the operation needs of the account.

• @steemsports is not a traditional betting platform and no fiat currency is used as rewards or in casting bets; as such does not fall under any gaming and gambling jurisdictions; but even so, users are urged to first consult with the laws and age restrictions of their countries.

• @steemsports in the unlikely event that when the Stake Pool is divided up between the winners and the nomenclature resolution goes below the third decimal place (example: 0.0001), then Steem decimal restrictions won’t allow a payout and the pool will carry over to the next game.

• Please vote responsibly :).

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Copyright © Ricardo Goncalves 2016

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