It's been established that the STEEM token is needed to have an influence on the Steemit blockchain (votes) and also needed with anything regarding an SMT on the Steem blockchain.
Having STEEM tokens is therefore great if you believe in the project where ever it might go.
Now having said that. There are two opinions going around at the moment. One says the focus should be on making Steemit the biggest social media site on the planet vs SMT's is the future (income) of media.
I think both are possible.
I rather see more separate apps and frontends than 1 big Steemit website.
I don't think one big Steemit website is the way to go for the future.
I think there is more power in individual apps and frontends but all connected through the Steem blockchain.
These can (and are) already developed by different devs and can be monetized by taking a percentage of the earnings of the content that is created through them.
The free market will decide what the best apps/frontends are and users will use them accordingly.
The fact that all this development happens on the Steem blockchain will make sure that the STEEM blockchain is going to be the biggest social media experience on the planet.
It won't be a website, it will be a blockchain, that will be the winner.
And the cherry on top. All these apps and frontends have a built-in wallet where users can send STEEM and STEEM dollars to anyone anywhere in the world. Or and this might be the magic: SMT's.
SMT's are great to get other parties involved on the Steem blockchain.
To get other websites/community or even game makers onboard the Steem blockchain SMT's are the answer.
Because I can perfectly imagine these party's not wanting to use STEEM or STEEM dollars for their community or game. Why create value for these tokens if others outside your environment can benefit from it too.
But an SMT can have its own value. Suited for different parties and purposes but all build on top of the Steem blockchain.
I talk about it more in my vlog.
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