I've just received an e-mail from the Wefunder mailing list, where I discovered some interesting news. Apparently, Narrative is doing a new investment round on Wefunder.
For those of you who haven't heard of Narrative, it's one of the direct competitors to Steem. It's a blogging platform that's also backed by cryptocurrency, just like Steem.
Looking through the Q&A on their investment page, they also mention Steemit as one of their direct competitors.
Here's what they have to say about Steemit:
Steemit: Users must be a crypto expert to participate and platform is controlled by bots and whales. Reputation is bought.
Looks like they've been using some outdated information, since bots do not run the platform anymore since HF21. Sure, whales still have a lot of influence, but I think it's wrong to say that one needs to be a crypto expert to participate. Plus, a lot of whales also tend to upvote smaller accounts these days.
I won't be investing in this and I wouldn't suggest investing to anyone else. I just thought it was interesting that they mentioned Steem as one of their direct competitors, while using outdated information.
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