Creators of MEDIA Protocol believe that an open and flexible economic system for content distribution is necessary to eliminate today's centralization and monopolization of the content marketing market. These monopolies determine what news and materials will be available to the public and actually control opinions of ordinary citizens.
What does MEDIA Protocol offer?
The project offers a new approach to the content distribution and consumption economics.
First, economic stimulation of consumers, decentralized applications developers and content creators is introduced. In addition, it is possible to encourage publishers and content distributors. They can receive "tips" from users for convenient and customer-oriented services.
Second, the use of Ethereum blockchain and smart-contracts makes all payment transactions transparent, and also allows to track consumers' interaction with content. Based on this data, users get paid, and marketing programs organizers quickly gain access to reliable data on the content relevance.
Third, developers have created their own decentralized application called CryptoCatnip, which is basically an aggregator of cryptonews. This dApp was created for iOS and Android.
Fourth, MEDIA Protocol is an open system and any developers can create their own applications that will help a consumer to interact with content in one way or another.
Additional MEDIA Protocol tools
The team is ready to provide additional tools for the convenience of working with the platform.
These include:
- A special set of tools for publishers that will facilitate their content promotion and simplify interaction with the blockchain;
- analytical tools for publishers and marketers, allowing them to extract and process data on consumers' interaction with their content from the blockchain;
- accessible documentation for publishers and developers dApp on the protocol and smart-contracts integration;
- ready-to-use SDK for iOS and Android, which can be immediately embedded into applications.
MEDIA tokens economics
The basis of the project's economics is internal currency - MEDIA tokens. They comply with the ERC20 standard and are providers of all financial functions.
MEDIA tokens are used for:
- payment by users for one-time access to content or subscription;
- voluntary donations by consumers to creators, publishers and content distributors, as well as developers of - decentralized applications for MEDIA Protocol;
- payment of royalties to content creators from brands that ordered it;
- payment of rewards to consumers for interaction with content (viewing, distribution, sharing in social networks, likes, reviews, etc.) in the framework of marketing programs;
- exchange within the platform for other ERC20-compliant cryptocurrencies;
- exchange for any cryptocurrencies and fiat money on specialized external resources.
Summary
MEDIA Protocol is a new approach to the content marketing economics.
Through blockchain technology and smart-contracts, it eliminates intermediaries between creators, publishers and consumers.
This project seeks to disrupt centralization and monopolization of the content market and to make it more open and democratic.
The team that created the project consists of professionals of a very high level, and MEDIA Protocol partners are hedge funds and global consulting companies. Perhaps, that's why there is no mention of crowdsale on the project's website and in the documentation.