Hi Cody, see my above comment STEEM is the currency, Steem is the blockchain and Steemit is the social networking platform (blockchain explorer).

Re: Price implications - Just like ERC20 tokens, where people have to use Ether to participate in the ICOs, people who wish to participate in SMT ICOs are going to need to purchase Steem :)

Steem will be a far better blockchain for ICOs as the transactions are ~ instant and there are no tx fees.