Social Media Has Changed The Landscape of Advertising.
Advertising firms understand that effective marketing involves more than just a pop-up ad on a random website. These firms recently started adapting and have begun to use advanced metrics to target consumers.
Social media has also changed the speed at which evolution occurs. While advertisers are adapting to the changes from the last five years a paradigm shift in what is valuable has occurred.
There is value to be found in more than just the number of users, their shopping habits, and their browsing history.
The most valuable asset is now user attention. The advertising arms race will soon focus on controlling the user's attention. According to Ari Paul, CIO of BlockTower Capital, attention and influence are becoming more valuable than capital.
MEDIA Protocol Makes The Transition Seamless
The current media reward model only rewards content platforms and creators. The individual with the most valuable product, their attention, is not rewarded an is also forced to watch or participate in unwanted advertising campaigns.
MEDIA Protocol is a project that allows users to earn tokens while reading, watching and sharing content that is tailored to their specific interests.
The project is building a protocol which provides the framework for others to build decentralized apps that reward users for their attention.
The foundation of the smart contract is the Smart URL which MEDIA Protocol is creating to seamlessly transition internet content onto the blockchain.
A Smart URL allows any URL to be connected to an Ethereum address. These addresses contain tokens that can be distributed when the Smart URLs are clicked.
A very interesting aspect of the Smart URLs is that they can be posted anywhere including Facebook, Twitter, and Instagram without any integration from their apps. This would instantly allow content creators and content viewers to be rewarded for their work and attention.
What Makes a Smart URL So Smart?
The Smart URL in the Media Protocol system is the link between content and the blockchain. The Smart URL can represent any type of media including videos, images, music, and podcasts.
A Smart URL will not only track user interactions but will eventually be capable of more advanced tracking like the amount of time a video was viewed for. Smart URLs can represent paywalled content or act as the gateway for those that require subscriptions.
Most importantly Smart URLs send all of this off-chain data to the on-chain smart contract.
Smart Contract Meet Your New Friend
The way that MEDIA Protocol works is simple. A publisher publishes content to a Smart URL. The Smart URL includes specific parameters including the number of rewards that it contains and how they will be distributed.
The content is promoted via the tokens in the Smart URL and is recommended to users. When a user visits the Smart URL the smart contract is triggered and rewards the user with tokens.
MEDIA Protocol provides an extra layer of transparency to users by making each Smart URL into its own wallet. This allows users to see how much money promoters are spending on a campaign and also displays interactions (likes, votes) that have been recorded to the blockchain.
How Do Creators Use Media Protocol?
The protocol enables publishers to easily create the content sharing and reward system for their own decentralized applications.
If the Boston Globe wanted to create an app that rewarded readers they utilize MEDIA Protocol's software development kit (SDK) to build the backend of their app.
The MEDIA Protocol code is open source and available on GitHub.
What About The Token?
The MEDIA, MPT, token is mainly used as an internal currency for the protocol. The main functions include some of the following.
- Reward users for their attention
- Reward users for opting in to share their data
- Pay for products and tips
- Publishers can pay for promotions and rewards
Summary
MEDIA Protocol is jumping ahead of the curve by placing users in control of their data and monetizing their attention. The creation of a simple to use set of SDKs integrated into a Smart Contract linkage system with a forward facing Smart URL will make the protocol easy to use for creators, developers, and consumers.
For more information
📅Token Sale: Registration for Community Pre-Sale Open Now (More Info)
📈Token Ticker: MPT
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