The Most Important Missing Piece for The 2024 Bull Market

avatar of @vimukthi
Makishima Shougo
4 min read

We are seeing the market being primed for another bull market. There are even some individuals who claim that we are already in a bull market. I was expecting a sideways market and that is the opinion I currently hold. What is undeniable is that better times are coming for cryptocurrency prices.

New Era of Marketing by @leofinancence

14,850 USD spent on marketing every month is nothing compared to what many projects are spending. It because of marketing expenditure that many lousy projects surpass $HIVE in marketcap. We had built but nobody came. The primary reason is that most people didn't even know about HIVE.

That is going to change in a bull market where there are enthusiasts looking for projects to make money with. HIVE projects can capture some of that attention and grow the active user numbers. We need to have more proactive growth. We need to have more fresh users and fresh investments into HIVE.

The One Thing HIVE Didn't Build

There have been some efforts at marketing. HIVE DAPPs have Twitter accounts that actively post content. We have many tools that HIVE veterans find extremely helpful. For an example, I would prefer to use Tribaldex over Uniswap. Keychain extension has made the lives easier for thousands of users that transact on HIVE everyday.

Where Do I Even Buy $LEO

I know many ways to do this. You know many ways to do this. How does some random normie who logged in with their Google account get some $LEO? If they already use MetaMask, they could deal with pLEO, bLEO or they could start with a wrapped version of HIVE or HBD. Then they will have to unwrap it and learn to use Keychain and HIVE DEXs. This is friction after friction for a new user.

They May Not Even Want to Buy Anymore!

After few minutes of truing to figure things out, a user may give up buying $50 of whatever they wanted to buy. At least $LEO has a "Trade on LeoDex" button. Did you notice that on the above screenshot? @peakd has a more visible button that allow users to buy $HIVE with a credit card!

Normies are familiar with credit cards. They have made purchases with them. At the end of a small bit of work, they get their HIVE on their wallet. HIVE Keychain has learned some lessons from MetaMask and allow users to buy HIVE and HBD easily.

@splinterlands Has Done The Best Job

The most used DAPP of HIVE did not reached its place on its own. Almost anything you want to buy can be either bought directly with fiat or use fiat to directly buy DEC. This makes it extremely easy for a user to invest a little bit into HIVE while they are in the mood for it.

Convenience Fee Can Be A Revenue Stream

People are willing to pay to save time or reduce complexity. @leofinance or any other DAPP can make it easy for people to buy $HIVE, $HBD, $LEO or any other Token can take a small percentage of each transaction as a service fee. This could even be done with 3rd party integrations.

THORChain Integration Would Be Amazing

I want to focus on DEXs even more than CEXs. DEX users are more likely to see the value of HIVE and what it offer as the world's biggest decentralized social media. Being able to easily trade native HIVE/HBD without involving the riskier and more complex wrapped versions will be a great move.

Buying goods and services with cryptocurrency allows us to skip fiat altogether. HIVE PAY already has made progress in this. What we lack at the moment is adoption.

Little Things Matter Too

I wanted to reblog @taskmaster4450's article on HIVE Bonds after reading it. The option was not available at the bottom. I am ready to take some friction and scrolled all the way to the top and reblogged. I suspect there are many reblogs that were never made because the reader didn't have the reblog option at the end of the article.

The Missing Piece is Reduced Friction

It could be a simple lack of reblog button or it could be an inability buy some $LEO in a matter of seconds with fiat. If these friction points are not fixed by the time we have another bull market, we will miss out on millions of capital inflows into HIVE Ecosystem.

Marketing can get users hyped about a project. Great technology can allow developers to build amazing DAPPs that are faster than Ethereum and have the fees that almost all the blockchains, DAGs etc. have. These are all early parts of the funnel. If we mess up the final part where the prospect make a purchase, most of the previous efforts go to waste.

Let's Fix This Before 2024 🦁

Posted Using LeoFinance Alpha