Steemit, the world’s first decentralized social media platform, has taken a major step forward in its evolution as a crypto-enterprise by hiring blockchain tech and marketing expert Mitchell Loureiro, who will pilot an entirely new kind of growth strategy.
The strategy will leverage Steem’s unique “proof-of-stake” system, which distributes ownership in the Steem protocol to anyone who adds value to the blockchain, by crowdsourcing plans and proposals for expansion and combining approved projects with traditional marketing.
The new VP of Marketing commences this strategy today and will lead traditional digital and physical marketing campaigns, but most importantly, empower every single Steemit user to participate in drafting proposals, and developing projects designed to attract audiences across the globe.
CEO of Steemit Ned Scott said:
“The way Mitchell thinks about taking Steemit from a crypto-centric project to a household name is genius, and completely reflects the nature of our innovation; decentralization, empowering the people, and incentivized community interaction.”
“Mitchell has an incredible background and has been entrenched in blockchain since 2012. He is savvy, has a significant network to leverage, and has deep knowledge of the Steemit community. He is a growth expert and is coming in at the right time as we prepare for dramatic growth.”
“By leveraging the wisdom of the crowd to amplify and multiply the impact of marketing efforts we’ll build out countless sub-communities, each incentivized to grow until we join the ranks of the social media giants. The key difference is that the users really are the true owners of Steem and steemit.com.”
Mitchell has a proven track record in building business strategies and exposure for next generation technology. He built startups in Portugal’s largest incubator, StartupLX, before contributing to the successful launch of the Ardor token distribution with the Nxt Foundation.
He took iLovePDF to the top of the PDF processing market, helping take it to over 5 million monthly visitors to the site, and is the marketing lead for Santiment, the first provider of sentiment data in the crypto-markets.
VP of Marketing Mitchell Loureiro said:
“My job is to provide marketing expertise, but the future of Steemit belongs to our users. We can’t play Facebook’s game. We don’t need to. We have a vibrant and engaged community dedicated to sharing Steemit with the world. That’s the beauty of Steemit; everyone has a voice, and everyone is rewarded for their contributions.”
The initiative, publicized on Steemit.com today, is expected to draw immense support from the 120,000 strong user base.
Steemit’s foundational cryptocurrency, Steem, has been on the incline in Q1 in terms of price and demand. Its market cap is currently worth $40 million USD, up from $20 million USD in December 2016, and liquidity has been at an all-time high.
Mitchell Loureiro concluded, “If two minds are better than one, what do you call thousands of minds dedicated to making content rewards on the net fairer? Innovation. This has never been done before, it comes after months of careful deliberation, and it’s ambitious, but I truly believe this effort will propel Steemit to new heights.