With Blockchain, Artists Should Not be Hungry Anymore

For centuries there was a hornbook rule — a true artist should be hungry. It’s not that artists tend to keep to a strict diet. It is just hard to earn on art and content, and nothing changes with the course of time.

You have to work your tail off for months and even years to build at least the smallest audience of followers, let alone earning enough to enjoy life, especially in developing countries, where piracy and corruption are flourishing and people are simply not used to paying for content.

However, piracy is not the only reason why content creators make next to nothing. The other reason is that platforms they use for distributing their content take the lion’s share of income. Giants like Facebook, Twitter, and Instagram earn billions of dollars from advertisers who are attracted by high-quality content. But the creators get diddly-squat for attracting those advertisers.

Yet, blockchain can change the situation. The decentralized ledger technology is able to connect content creators with their followers and advertisers directly, thus letting artists retain all profit and avoid giving most of it to intermediaries. On the other hand, due to its decentralization and encryption, it is impossible to forge or steal the content after it is registered on the network.

Decentralization that Changes the World

There is a growing number of solutions and platforms offering multiple benefits for content creators, such as Steemit, Gifto, ASKfm, and others. Although ASKfm itself is a social Q&A network, it has recently announced ASQ Protocol — a ready-made ecosystem with a huge user base that will allow creators to expand their audience and avoid intermediaries in the process of sharing their knowledge and talent.

The mission of the protocol is to motivate discovery and sharing of unique, high-quality content, provide the content creation community with fair and transparent compensation mechanism and decentralized payment structure for easy cross-platform content distribution, and promote the growth revenues for creators from all spheres.

ASQ’s user base counts of 215 million users and add-on 45 million of those from the protocol’s partner, NING. It provides creators with a Revenue Distribution Matrices (RDM) and Value Rewards Mechanism (VRM), allowing all ecosystem participants to adjust transaction rules for transparent monetization of high-quality content. The rewards are paid in ASQ tokens.

Steemit also allows its users to get compensated in its own STEEM tokens according to the upvotes from the community participants. However, to get rewarded, you have to post your content on Steemit platform, while the ASQ Protocol can be integrated into any platform, meaning you can monetize your content posted on Facebook, Twitter, Instagram etc.

A similar mechanism is employed in Gifto, a decentralized gifting protocol offering creators virtual gifts that can be exchanged to GTO tokens. It can also be integrated into any social media platform, although its mechanism is a little bit more complicated. You earn virtual gifts, but to get actual money you need to exchange them to GTO tokens, and only then to fiat currency. Some share of the reward is probably lost to fees.

A significantly different approach is taken by Brave, as it offers a monetizing solution to be integrated into any browser. The solution enables websites to get rewarded with BAT tokens for the high-quality content they post. Therefore, creators do not even need third-party platforms to become famous and well-paid.

All in all, it is obvious that blockchain is coming to transform the content monetizing industry, making it decentralized, fair and transparent, and allowing content creators finally get worthily rewarded.

Got any questions about ASQ Protocol? Head to our website to find out more!

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