One of the key features to the tokenomics of LEO is the Premium membership. This is something that is still in the early stages yet offers a great deal of potential.
In this article we will discuss Leo premium and how it is quickly becoming the central premise of the platform.
Of course, this is not without precedent. This is what Amazon has perfected over the last 20 years.
Leo Premium: A Powerful Flywheel
Do you realize the potential of Leo Premium? This is something that a few of us discussed repeated over the last few months.
So far, we are in holding pattern simply because the focus is upon bug fix. A big push is to clear the slate of existing issues by the end of the month.
This means that June could be the time we start to see some additions. In fact, here is a thread that we saw dropped.
@khaleelkazi/re-leothreads-3oqmymlpjcczs6yre
The part that caught my attention was the Premium features going to drop at an unprecedented rate.
Here is where the potential truly expands.
The Amazon Model
In other articles, we discussed the approach Amazon took. At this point, if you are on the platform at all, being part of Amazon Prime is a no-brainer.
Why is this?
Basically, Amazon built so much value into Prime membership that it is foolish not to pay the annual fee. When one considers what is offered, we see the genius in the strategy.
Amazon developed something that benefits everyone. There is free shipping for the shoppers. movie and television viewers get the streaming service. There is limited music streaming along with download to your device. Photo storage, ebooks, magazines, and gaming are also included.
It is estimated there are somewhere around 167 million Amazon Prime members. This adds up to $2.5 billion per month.
Considering that most streaming services cost around this, just that portion equates to market value. The rest of the stuff is essentially free.
Of course, Amazon is always looking to add to this. It is striking deals with sports leagues. This seeks to pull in another form of subscriber, along with more revenue.
X Premium
While Amazon is the poster child, Elon Musk and X are a model also to keep an eye on.
Twitter Blue offers users a host of features for the $8 monthly fee. I will not go through them here since you can see the list in this article.
While there is nothing on there that truly gets me excited (I am also not much of an X user), it obviously is something that is of interest to the users. I would presume the ability to do long form posts is now included in that although that could be part of the regular service.
Whatever the benefits, all of this pales in comparison to what was added.
Grok was recently added to the Premium (and Premium+) memberships. This means that, for $8 per month, one is gaining access to the most advanced form of this LLM. Like with Amazon, when you look at the market pricing for paid LLM, this is actually cheaper.
One might make the case it doesn't compete with Gemini or ChatGPT. Even if that is the case, for the same $8 per month, this is now included.
Do you see how this works?
Leo Premium
The key to this model is to keep adding features.
Whatever is offered with Leo Premium, it should pale in comparison to what is available a year from now. Over the next 12 months, features should be added.
Remember, the goal is to make it like Amazon Prime. If someone uses anything in the Leo ecosystem, we want it where it is senseless to do so with any regularity and not have Leo Premium.
Here is where we see the flywheel potentially start to take off.
The focus is 1,000 Premium subscribers. As we can see above, there are 233. This is the range we were operating within.
What can get that number higher? The answer is obviously more features. In fact, it is time for the community to start thinking about this and offering up suggestions.
That said, we can follow the lead of X on this one.
Large language Models certainly are getting a lot of attention. The future, however, might be in SLM (S for small). Here is where LeoAI fits into the picture.
Bringing AI capabilities to Leo users could be very appealing. Again, if one is a user of the platform, it might be of benefit to have that service available in the Premium package. If people are able to get answers for both general and Leo/Hive specific info, that would be very appealing.
Another idea on this is to add something similar to Ideogram. I am not sure how much open source models are available but the ability to create our own images within Leo and utilize them in articles and Threads would be a nice bonus.
Naturally, cost is a consideration and have to be factored in. Nevertheless, if we can build more AI type services into the platform, that would really make Leo Premium more attractive.
These are a few ideas. What are yours?
If you have some, drop a thread with the feedback tag to the Leo team. Good ideas certainly will be added to the list.