What is the potential for adoption of Belacam when it launches ? Could it be as big as Snapchat, Instagram for example or will it be much more limited ? I don't have a feel for it as I lack the technical/social media background.
The user base of Belacam will not rival Instagram or Snapchat as those social media apps have had years to break into the industry and gain traction. However, we do not need to be as large as them to find success.
Steemit had 13,700 active users at it's peak and possessed a market cap of $412,000,000 at the same time. That is a valuation of $30,073 per active user. If the same numbers hold true, Belacam does need hundreds of thousands of users for it to be successful. For example, modeling Belacoin's market cap with only 10,000 active users (and using the same Value per Active User), Belacoin would be worth $300 million. That is 500 times more than today's market cap.
These numbers are strikingly outlandish, yet we have seen Steemit valued by the same metric. We also look at Belacam as a competitor to Steemit, so the numbers are relevant.
Belacam's UsersWe break down Belacam's target audience into 4 separate groups:
- Travelers: 98% of millennials take photos when traveling abroad. In 2015, there were 1.2 Billion international travelers, and the number of international travelers has increased by 50 million people each year over the past decade. Travelers are a high-growth target market.
- Millennials: Millennials are considered to be people between the age of 18 - 35. 90% of millennials report using social media. In the United States, there are 75 million millennials. This age group possesses a disproportionately smaller amount of the aggregate wealth, with Generation X Americans and Baby Boomers possessing more.
- Artists and Photographers: Professional photographers in the United States earn an average income of $19,000 per year, putting them at a level below the US poverty line. Belacam would provide artists with a gallery and the ability to receive cryptocurrency payments for sharing their photos, art, and passion.
- Comedy and Meme Lovers: Social media has become a primary avenue for sharing comical images and memes. Users who browse Belacam for memes will transcend demographic boundaries but arise more from the millennial and tech-savvy crowd. These users will be more receptive to the idea of cryptocurrencies than Generation X users or Baby Boomers.
