What does steem mean?

Could you please explain what Steem represents in the world of cryptocurrency and finance? I'm curious to know if it's a new form of digital currency or perhaps a platform with unique functionalities. How does it differ from other blockchain-based projects, and what sets it apart? Is Steem gaining traction in the market, and what are the potential benefits for those who invest in it? I'd appreciate a concise yet informative answer to better understand this intriguing concept.