LeoFinance Partnerships: Platform Enhancement

This is an extension of a video I did earlier. I thought, however, that some more details might be necessary.

To start, Leofinance is taking a business approach to things. @anomadsoul is doing some wonderful things bringing contests, ideas, and other avenues of growth to the platform. His best work might be the outreach he is doing on behalf of Leo.

What we are witnessing is Business 101. This is something that we do not see a great deal of in cryptocurrency. Since the focus tends to be on prices mooning, we can see how partnerships are viewed through a skewed lens.

For this reason, lets take a different approach to things and see what we can come up with.

Source

More Than Just Users

The natural inclination is to look at a deal like this and ask "how many users is it going to bring". This is what many want to concentrate the discussion around. Rarely are people talking about the totality of the system.

At present, I can't speak to the "community" to exists on this other platform. It is a website that takes real world trading into the education realm. Of course, the focus is on cryptocurrency.

We have to acknowledge the fact this might not bring a single user to Leofinance. At the same time, perhaps the other platform doesn't even use Leo for its promotional materials or threading.

This is an outcome that could be in play.

Naturally, many will say this is a failed partnership. Again, limited viewpoint.

Platform Growth

While it would be a bit of a disappointment, it is not the end of the world, In fact, this should be a secondary consideration.

If that is the case, what is the primary consideration?

To me, this starts with the Leofinance platform itself. The idea is to build that out, making it as appealing and providing as much utility as possible. Here is where the business building ideas come into action.

Since most focus upon token price, they fail to ask some basic questions. For Leofinance to be a success, it is going to require a strong user experience. This is true of any platform. Web 3.0 or not, if the application sucks, people are simply going to leave.

With this in mind, we get a different frame of reference. This partnership now offers trading education, in real time, for people who are in Leofinance. We suddenly have another feature available to use that was not before.

Of course, there are already plans of contests and trading tournaments for members of Leofinance to partake in. Do not be surprised if we see a host of prizes offered, similar to #lpud.

In other words, we are going to see this integrated, albeit maybe not directly, into the Leo platform providing users with more options.

With this in mind, anything else that comes of it is a bonus.

Keep Growing

There is no doubt users are important. We often discuss the idea of network effect and it is synonymous with the digital world. Overlooking that is a mistake.

However, growing users is not the only game in town. Focusing upon this to the exclusion of other things can be detrimental. It is one thing to bring users it; it is an entirely different matter of keeping them.

Retention is crucial.

For this to happen, a platform needs to keep growing. Development is necessary so that users have new options as time passes. Facebook has evolved greatly from its early days. Over the years, many new features were added that were not present before.

Adding in a trading education system and platform is just one more nugget that people involved with Leofinance can utilize.

Is this going to appeal to everyone? Of course not. Hopefully this is just one piece in a long line of deals like this. Consider what the platform would be like with 40 or 50 partnerships of this nature. That would provide Leo users with many different features not presently tied to this system.

With that, some will be built into the UI directly while others will reside outside. Obviously, a combination of the two is the best.

In the end, people utilize a platform for the experience it provides. Having a multitude of options they can access is important. Social media is filled with companies continually evolving what they are providing the user base.

Leofinance is no different. Some of these partnership could provide useful features that will attract and/or retain some users.

Here again, it is a numbers game.

---

If you found this article informative, please give an upvote and rehive.

gif by @doze

logo by @st8z

• What is Hive

Posted Using LeoFinance Alpha