In today’s world content distribution is inefficient and it circulates through different social medias. Even though content has huge engagement, but it creates very small amount of revenue to the content creators.
To overcome this complication, here comes the role of Media protocol
Media protocol removes the middle man between content publishers and consumers by providing direct economy for exchange of data in a transparent way.
Reward for content consumption:
By using media protocol publishers can incentivise the consumers for using their content in the form of tokens. Brands who are creating content for promotions and marketing purpose they will give the tokens to consumers who views their content. Content may be in any form long or short, articles, video, audio or image. In fact, any URL regardless of its content can be used with MEDIA Protocol.
How prototype works:
CryptoCatnip DApp is a mobile application provides access to crypto content using the MEDIA Protocol.
To ensure the best user experience within CryptoCatnip user need to follow these steps
• Authentication
• Identity
• Content Recommendation Server
They have off-chain service to handle the initial volumes, and a verification service to verify consumers are genuine to prevent from Sybil attack.
Media protocol runs on the Ethereum (ERC20) protocol. It provides rewards for viewing and sharing promoted content and charging for payable content.
Content Recommendation Server:
CryptoCatnip dApp has two approaches for content recommendation server
Topic Analysis:
Documents with same topic are ranked by their similarity and popularity and it will be sorted and provide to the user
Collaborative Filtering:
It helps to find the consumer preferences from interaction with their dApp and allows user to setup their own prefernce
Token economy
Demand –Token demand is generated when publishers and content
promoters are required to purchase MEDIA Protocol tokens to promote content and
reward content consumers for interacting with content.
Supply –Supply of tokens in the market is driven by content consumers
who, having collected tokens through interacting with content, exchange their tokens on
the open market.
Token matrix:
Token- MPT
Platform -Ethereum
Accepting -ETH
Soft cap: Not available
Hard cap: $15M
Country Gibraltar
Whitelist/KYC- KYC & Whitelist
Team:
James Tabor-CEO
He has 10+ years in Advertising, Commercial Rights and Start-ups. Changing advertising with AI & ML since 2012, blockchain is the missing piece of the puzzle which allows us to track the flow of value through the digital world.
Thomas Graham- Co-founder
Tom is the Managing Partner at TLDR, a leading crypto advisory firm and hedge fund with a presence in London, NYC, SF, Tokyo and HK. TLDR is a trusted advisor to many top 100 tokenisation projects and an innovator in crypto finance from TGEs to publicly-listed funds.
Martin Adams- Cofounder
He was recognised as one of the UK’s top 100 Entrepreneurs on the Maserati list and a Top 50UK Innovator by Penrose, described as a 'Marketing Guru' by the Sunday Times.
Verdict:
The major advantage of media protocol is, it creates the bridge between content creators and consumers by skipping the third man. ultimately it gives the mutual benefits to the both users and creators.
It has working protocol of CryptoCatnip. It is available in the both the Google paly and App store.
But is has only1000 installs right now in Google play. Right now, interactions on CryptoCatnip are not recorded on the blockchain. Soon they are going to bring media tokens for this.
It has advisors from well reputed companies like “Gifto”, “GoDaddy”, “vice”.
Links:
Website: https://www.mediaprotocol.org
Whitepaper: https://www.mediaprotocol.org/papers/whitepaper.pdf
Facebook: https://www.facebook.com/MEDIAProtocol
Twitter: https://twitter.com/MEDIA_Protocol
Telegram: https://t.me/Media_Protocol_Community
Bitcoin talk Username: anushkamehta0902
Bitcoin talk profile link: https://bitcointalk.org/index.php?action=profile;u=2039767
ETH address: 0xd1c62C22C078A0C6B1E42F7200F0b082EE81a64a