Bulb Begins To Shine – A WEB3 Platform Built For Content Creators
A WEB3 World
WEB3 is a topic I have discussed at length over the years. Despite ongoing challenges, including regulatory concerns, I still envision it as an inevitable end. Everything evolves… technological breakthroughs never reverse. Once a technological advancement has occurred, it can only progress. This advancement can be resisted, frustrated, and even opposed. However, ultimately, it cannot be stopped.
Regarding existing WEB3-based platforms, I find Hive to be superior in one very key area. One of the most attractive features of Hive is that everything being created and published on the platform is taking place on-chain. This is an authentic representation of a WEB3 platform, in my opinion. That being said, the arrival of new and up-and-coming platforms is inevitable, and in certain instances, a welcome addition.
In my opinion, Bulb is one of the few WEB3-based platforms that holds a fair amount of promise. The platform has been around for several months, and just recently experienced an explosive growth spurt. In a matter of days, the Bulb user base grew from approximately 3K users to 17K users. Of course, as with any platform. a lot of these new users are likely low-caliber users looking to gain Bulb tokens.
This is true of every single opportunity and platform online. There’s no avoiding it. However, in and amongst the masses are also those who will, over time, provide valuable content and contribute to the “core” community and ecosystem. Bulb rewards both content creators, as well as readers. Not everyone creates content, so it’s great to see an inclusive approach. However, this dynamic can also be abused.
How Bulb Works
In a similar way that Hive has a reputation system, Bulb has a level system, which Like Hive, becomes increasingly difficult to level up the higher you go. A new user on Level 1 will receive 30 Energy every 24 hours. Different actions on the platform require various amounts of Energy to perform. For instance, reacting to a post will require 1 Energy, while commenting on a post will consume 5 Energy.
As a user, your daily allotted Energy will increase each time you level up. This is however only applicable up until Level 4, with a cap of 100 daily Energy. The community engages to earn Bulb points, which are in turn converted to Bulb tokens. There is a weekly pool of 2 million Bulb tokens, which are dispersed according to how many points you can amass during the week.
Regarding the actual Bulb token, it is a SPL (Solana-based) token and is withdrawable to your WEB3 wallet. If you are new to the world of WEB3, and Solana, in particular, Phantom is the most trusted WEB3 browser extension wallet. There’s also a possibility that Phantom might release a token, and with that, a potential airdrop for wallet users. Even though you can withdraw your Bulb tokens, the token is yet to be launched.
What many are unaware of is that 1 BULB is tethered to 0.0005 SOL up until the token becomes tradable on exchanges. In other words, this is the token sale valuation and remains fixed until such a time as it is traded on CEXs and DEXs. Essentially, this means that the current price of BULB goes up and down with the price of SOL. It is therefore likely that the token sale price will increase over time.
The token sale is set for later this year, and will then later be listed on exchanges. Currently, 1 BULB is valued at approximately $0.05 and has a market cap of $39.8 million. Users can also use Bulb tokens to purchase boosts and BULBmojis to boost earnings. As the platform develops, I am sure there will be additional use cases introduced for the token. However, for now, Bulb tokens are only usable within the platform.
Final Thoughts
I have become rather bullish on Bulb, and the potential it holds. With almost 20K users, and a token still in the prelaunch phase, the future looks bright. My guess is Bulb is going to shed a lot of positive light on the world of WEB3 and content creation. As with chains, there is no single chain that will rule… so too, when it comes to WEB3 creator platforms. Many great names will coexist, and Bulb is shaping up to be one of them!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
