Let’s admin one fact: we spend a lot of time in major social media networks and get about 90% of information from 10% most popular online sources. But it doesn’t mean that the content we get is always engaging and valuable. There’s another problem, as well: you find interesting projects with useful videos, articles, and reviews, but it takes much time to browse websites and applications and read all you want.
Now let’s face the situation from the publishers’ point of view: they strive to create truly unique content and deliver positive user experience, but the development of a proprietary platform is a challenging task. Therefore, they still have to share their content in social networks and pay for the distribution to attract readers.
As we can see, this is a ‘lose-lose’ scenario – major platforms for content sharing get their money for subscription and traffic, while readers and contributors still have to face problems. “What can be done about that” – you ask. MEDIA protocol community has come up with a curious solution.
What is MEDIA protocol?
We have heard about blockchain being integrated into applications and software, but these guys went a step further – MEDIA protocol integrates blockchain into Internet pages. It allows for the creation of Smart URLs. What does that mean? A protocol is a combination of rules that administer the exchange of data between devices, and MEDIA protocol will manage the interaction between the participants in the sphere of marketing and advertising. The platform will serve as an ecosystem that brings transparency to the value between consumers/publishers and media.
The project allows readers to get rewards from reading, sharing and commenting upon consumed content, as well as creators to earn money by receiving them directly from consumers. All of that is done without intermediaries such as social networks, payment systems, and aggregators.
How does it work?
Say, you own a new portal and need to engage audience. Traditionally, you’d create groups and promo pages in social networks and pay the platforms for advertisements and promotion. Alternatively, you can integrate MEDIA protocol and start rewarding your readers with MEDIA tokens for certain actions – reading, sharing, participation in polls, commenting, etc. Therefore, your investments will go directly to readers, which means they’re 100% paid off. This is a way more efficient way of attracting an audience to your project. However, the token flow goes in the opposite direction, as well: a publisher can get donations from readers who like the content.
The reader, on their turn, can:
- View their favorite content directly on publisher’s site.
- Get rewarded for dedicating their time to reading, sharing, commenting and so on.
- Spend tokens on donations, premium services, and subscriptions, or exchange MEDIA tokens for other cryptocurrencies.
Why using blockchain for that?
When creating MEDIA protocol, the team strived to eliminate the need of middlemen in the process of token exchange between publisher and consumers. The ethereum-based blockchain is the only efficient way to do it. It ensures transparency of money transfer, and the time requires for the transaction is reduced almost to zero.
With blockchain, any page with any content can turn into a Smart URL and hold and distribute tokens the way crypto wallet do. Therefore, everyone can check how many people evaluated the content, and how much money was used for content promotion.
Key features
Aside from MEDIA protocol leveraged by the ecosystem, it provides a lot of useful features and tools:
- The CryptoCatnip dApp is the platform for developers creating their own dApps: it supplies masters with necessary tools and promotes adoption and involvement of users.
- Third-party dApps integrated a focus on the topics different from CryptoCatnip, and feature a wider functionality. Embedded in MEDIA protocol ecosystem, they can improve the user experience.
- Publisher tools help to submit URL to the blockchain and manage the promotions.
- Analytics tools provide publishers with important information about their content and readers’ behavior.
- Documentation for publishers and dApps creators.
Who needs MEDIA protocol?
This platform would be beneficial for all online businesses and bloggers in search of alternative ways of promotion. Besides, they should consider the option of participating in the community presale that takes place in the second quarter of 2018 – the MEDIA tokens you get can become a nice investment for the promotion of their content.
Although beta-version hasn’t been released yet, the idea MEDIA protocol is great – it makes content consumption and generation mutually beneficial. This ecosystem can change our approach to online marketing and advertising.
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