Management of the media content industry is concentrated in the hands of advertising platforms, media and producers, who control virtually all traffic. The current economic model is outdated and requires radical changes. The problem is that users are often not interested in the content that they try to slip marketers, as a result of which the conversion of advertising becomes low. Instead of changing the current situation, advertisers tend to act more aggressively by spreading viral advertising and spam. As a result, truly valuable content remains in the shadows. Media Protocol offers a different concept, which is based on consumer trust and equal influence.
Project idea
Media Protocol uses the advantages of blockchain to create a decentralized ecosystem in which authors, promoters and content consumers interact directly with each other and each participant receives a fair reward.
The platform aims to move away from the current business model in which centralized conglomerates control the media content market and transfer control to the hands of the community.
Examples of the use of Media Protocol
Ecosystem members use tokens to promote content and receive rewards for supporting the Media Protocol ecosystem.
Consumers receive a reward in the form of tokens for viewing content and active participation in the discussion, expressing their opinion about the content. The amount of remuneration is distributed depending on the impact of the point of view of consumers. Consumers can also monetize personal data by providing information about their behavior to companies to improve the quality of services. Users can exchange the accumulated tokens for Fiat or pay for access to paid content.
Content authors can award tokens to promoters and users interested in promoting content directly. All parties that take an active part in the distribution of content receive a fair reward - this is the basic concept of Media Protocol, which seeks to make the media content market decentralized.
Platforms and applications that support Media Protocol receive dividends for publishing and distributing platform content. They can also receive payment directly from brands for content promotion.
The Advantages Of Media Protocol
- Users can monetize their personal information, which they previously provided to companies free of charge, and independently participate in the promotion of content.
- Sponsored Intrusive content will be a thing of the past. Now the real value of the content will be determined by the community, not by marketing companies and media.
- Blockchain provides transparency and security of all transactions in the system. Participants can exchange data without intermediaries, thereby improving the quality of consumer information.
- Companies receive transparent and reliable statistics about the behavior of users without the need to overpay advertising and marketing platforms. This will increase the conversion of advertising and reduce marketing costs.
Token economy and the details of the ICO
MEDIA - ERC-20 tokens are designed for basic internal operations on the platform and exchange between participants of the Media Protocol ecosystem. Content authors and promoters can use tokens as a reward for users who view media content on the platform.
Currently, there is no information about ICO dates and details about platform tokens. Applications for participation in the pre-sale are currently open.
Project team
The project is managed by the pioneers of the advertising and marketing industry with 30 years of experience. The project involves experts from Codec.ai-a company that develops solutions based on artificial intelligence for the media, marketing and communication companies. In addition, the team is supported by strong advisors from such projects as Gifto, GoDaddy and Havas Group.
The Media Protocol website contains links to the real profiles of the creators and advisors of the team, where you can see detailed information and get acquainted with the achievements of experts.
Conclusion
The idea presented by Media Protocol looks interesting and promising. The team is working hard on the project and has already released a working prototype of the mobile application CryptoCatnip, which users can test and get rewarded with MEDIA tokens for their interaction with the app. Media Protocol will change the current situation in the media industry, providing benefits to authors, promoters and consumers of content.
References
Web Page: https://www.mediaprotocol.org/
WhitePaper: https://www.mediaprotocol.org/papers/whitepaper.pdf
Twitter: https://twitter.com/MEDIA_Protocol
Telegram: https://t.me/Media_Protocol_Community
BTT Bounty: https://bitcointalk.org/index.php?topic=3397199.0
BTT ANN: https://bitcointalk.org/index.php?topic=3396313.0
Author: https://bitcointalk.org/index.php?action=profile;u=1143460
The prospects of decentralized platforms are encouraging when looking at the various advantages of blockchain technology. Once again, Media Protocol eases usage and increase transparency throughout the whole process surrounding the media content industry from the authors to the consumers' activity. We, at Blockbasis, pledge to protect user and transaction information when sending and receiving cryptocurrency via email.
Thank you for your well stated opinion about Media Protocol!
@mak2017 it's gud if they implement media advertising industry into blockchain
Thanks for stopping by @jannatehimachal! If you take a look at Media Protocol Whitepaper you will find more information about how the blockchain will be implemented in media advertising.
You got a 5.84% upvote from @upme thanks to @mak2017! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).
Interesting review, will definitely take a closer look on this project and whitepaper as well.
Glad that you find Media Protocol an interesting project!
Project looks great especially for consumers who will finally have a motivation to read content and value it.
Sharing same thoughts about Media Protocol @shagimardanov 🙏
Our work has commenced for you and your post.
Great, thanks a lot!
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