Boardz – A global forum powered by Bitcoin
1/ Introducing Boardz: A global forum platform powered by Bitcoin SV
It is a social platform where people can discuss things under different topics and monetize their content.
Read the full announcement. We want to see all BSV users on Boardz!
— Boardz (@BoardzApp) 5 December 2022
Boardz is a global forum where users can discuss various topics and earn Bitcoin SV. To stimulate early participation, the Rewardz program is launched with over 80 BSVs, ready to tip users’ good content.
2/ To get you involved quickly, we will reward early contributions to the platform.
We’ve just topped up our BSV wallet to give you tips. All you need to do is connect your @handcashapp and post some cool stuff on Boardz! pic.twitter.com/8lpnwIHKbp
— Boardz (@BoardzApp) 5 December 2022
Boardz is akin to old fashioned forums like Reddit or GameFaqs. One Boardz user has already compared it to Reddit:
Source: Boardz
Current boards already have pre-curated topics like sports and technology with some Bitcoin specific categories like Bitcoin SV, Bitcoin Script and NFTs. Boardz claims to be for all types of users, not just Bitcoin users, which is badly needed in this area. Tipping and linking a HandCash wallet is optional during registration, but this will encourage users to get a HandCash wallet if they see that they can earn by doing so.
This model implies that the application must add true value without necessarily a revenue factor that, in theory, attracts a truly interested user. Many digital currency applications that give away money initially see usage drop off considerably when the “free trends” are gone.
The real question is how can Boardz attract and retain users in 2022 when many social platforms are on the rise? Penetrating network effects and increasing your own is very difficult. Yet the natural answer is to offer a unique value proposition, and this is where NFTs can play a key role.
Boardz is collecting feedback from their early adopters on which NFT/token protocol they should integrate. One of the first features they are looking to implement is PFPs (NFT Profile Pictures). Boardz may be looking to copy Reddit, as they have launched a similar concept. Reddit’s CryptoSnoos is available on OpenSea and Ethereum, which means high gas fees.
🤔
— Duro Dogs (@DuroDogs) 8 December 2022
If a platform is to scale, having transfer fees that exceed the value of the trade is a non-starter. This gives a high floor price on digital assets, which is great for limited use, but not for mass adoption – especially if we consider high volume use, such as being able to stake and own multiple PFP NFTs for each user or ownership of sub – tray. Reddit reportedly has over 50 million daily active users in 2022, and over 3.5 million subreddits exist.
According to this article, there are around 3 million CryptoSnoos in existence. This is likely limited by high floor prices and gas taxes (coinage and trading). While I agree with the video above, I disagree with the prices listed. NFTs must be available for as low as the market will set them, which can be as low as 1/10 of a krone. Many will scoff at the low prices, but this must be conceptually seen from an abundance perspective rather than a hierarchical one.
Source: Boardz
Instead of wanting to take a 10% cut from a few $1 million NFT trades, take a 0.1% cut on 1 billion different trades. Which approach makes more money and provides more value? The simple fact is that other blockchains cannot compete with this model. Hopefully, Boardz can take advantage of Bitcoin SV’s micropayment capability to increase its network power compared to other similar platforms.
See: BSV Global Blockchain Convention panel, Metaverse, NFTs & Blockchain
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