TIME FOR CHANGE IN THE CONTENT MARKET — It’s time for Media Protocol
Recently, the world governing football body, FIFA, fined Russia about 10,000 Euros after their fans were spotted holding up an offensive banner during a World Cup match. The same governing body fined Croatia and England about 70,000 euros each for violating certain laws like wearing socks that were not approved as they bore different branding. FIFA sees this as a form of unapproved advertising. The fines awarded for these two acts would make you question the humanity of FIFA because, from the fines, it can be deduced that hate speech is a far less offensive crime compared to unapproved advertising. However, considering the sponsors of the World Cup tournament, one can get the logic behind the fines for infringing advertising laws. This is a perfect example of how centralization can dictate the way around the world. Even drinking non-approved drinks during the World Cup tournament can attract fines. The World Cup attracts a lot of viewership and since most of the distributing parties are largely controlled by a select group, it is easy for such rules to be placed. In as much as the World Cup is loved by its viewers, it may be expensive to view the matches due to the subscriptions required in various countries. This expense is usually as a result of demand for the content and intermediaries between the content producer and the final consumer. It is the same everywhere, even with movies, series and music, they are all controlled through centralized systems that allow for exploitation of both the creators and the consumers. Brands are also not left behind, they are charged some really high prices to have their ads run during such events with a large attraction. There is a need to change this system to one that favors both the consumers and producers of content.
Media Protocol Enter Media Protocol. Born out of the need to change the centralized system of operation of the content market, Media Protocol arrives in time to decentralize the content market and make it favorable for all parties participating in this market. The existence of blockchain technology has provided Media Protocol with the necessary tools that it requires to completely overhaul the content market. The prospects are so good that consumers will even be rewarded for their interaction with content that will be hosted in platforms that have integrated Media Protocol. Media Protocol is going to make content consumption profitable, not just for creators and distributers but even for consumers. Rewarding consumers The time people spend on their devices is a lot. Most of this time is usually spent either by consuming content or looking for content to consume. In a world where productivity is emphasized, making it possible to earn some revenue even while enjoying content from the comfort of your device is a step in the right direction. The interaction with content will also earn consumers Media tokens (official tokens for Media Protocol). Sharing content, consuming them, giving comments and other forms of interaction will result to rewards being given to consumers. This is also a great strategy of distributing content. Consumers usually know who, in their circle, would appreciate certain content, hence the right content will reach the right person through sharing. Creators will be able to grow their audience through this as well. For advertisers who have their ads attached to this content, they are likely to yield better sales through Media Protocol. Rewarding consumers whenever they carry out such activities would only be fair as they are providing better overall services.
Respecting consumer data
Media Protocol is also in the business of changing the way consumer data is treated. It will act as an example to other platforms on how to treat user data. The data consumers will create through using the platform will be treated as private. Media Protocol’s use of blockchain will create a transparent platform that values the privacy of their users. However, users can decide to monetize their data by selling rights to the data via media Protocol. Variety for the consumer
A lot of content out here is the same in almost all centralized platforms with a few variations. There is a growing demand across the world for content that stands out. This can only be satisfied if creators are allowed to explore different paths. The centralized model was just satisfied with meeting immediate mainstream content demands whereas a growing market of unique content seekers was suffering silently. Media Protocol, through decentralization, will remove the barriers previously placed for content creators to be experiment and be creative through providing a platform which removes intermediaries who are usually the sources of the numerous bottlenecks.
Cheaper access to content
With the token system in place, consumers will find accessing content in platforms using Media Protocol will be far much cheaper compared to other platforms. First of all, the rewarding or users with Media Tokens already provides a good base for users to build on when they would want to pay for content. Moreover, content is likely to be cheaper because most of the intermediaries that are usually involved in centralized platforms will have been eliminated through decentralizing the content market. Content will be moving from the creator to the consumer thus making it cheaper as there is only one party to be paid in this system. Some content will still be free and others will be rewarding. The nature of the content will depend on various factors however, the main aim of Media Protocol would have been achieved as it will be significantly cheaper to operate using Media Protocol. Cheaper advertising for brands Advertisements have gone digital. It is more effective to run online campaigns than to have them on television as most content consumers usually access them through the internet. Centralized systems controlled the prices and could charge as high as they wanted due to the numbers they attract. This however changed with payments being made according to the performance of the ad hosted on a platform. Media Protocol wants to make it even better and cheaper for brands to advertise. By eliminating intermediaries, it would become cheaper to advertise brands using various content. Furthermore, there is likely to be an assortment of content and creators to select from which would make it even cheaper due to the many available options. Ad creation services can also be done by content creators who have their platforms integrated with Media Protocol.
Creative freedom for creators
Media Protocol has a sort of guide on how it intends its platform to run. They are using Cryptocatnip as a show of how Media Protocol operates. Developers can take directions from the application to understand how best to integrate their applications with Media Protocol. Cryptocatnip gives users the latest news in the crypto world. Their subscribers get rewarded in Media tokens for reading some of the stories hosted on Cryptocatnip. Content creators are urged by Media Protocol to come up with different platforms in collaboration with developers such that there is a lot of content to select from. Whatever creators can come up with, there is likely to be a market for it through Media Protocol. Fair pay Its sad that in the current market set up, content creators can be paid only once while their content is being exploited multiple times by intermediaries. Decentralization will do away with such as system providing fairness such that content creators are compensated fairly for the work they produce. Creators can come up with different payment methods that are not exploitative but rather a representation of the value they hold for their work. User friendly
To help in the integration process and for feedback while using Media Protocol, Media Protocol will avail multiple tools that will support its core functions. These tools, such as the publication tools, will help even those who are not tech savvy to submit URLs to the Media Protocol blockchain. Their will also be a tool for analysis which would be quire useful for developers. A standard development kit (SDK) will also be made available by Media Protocol all in an effort to make the platform easily understood and implemented by developers.
Media Protocol will provide extra security for its users to ensure that cases of fraud are not experienced while it is in use. Identity confirmation will be one of the tactics that Media Protocol will use. Media Protocol verify accounts externally to ensure that all users of the platform are actual users and not bots. A reputation-based system will also be used. This will also be useful in preventing Sybil attacks in the platform.
With the interests of their users at heart, Media Protocol stands to be counted among the forward-thinking innovations that have resulted from blockchain technology. It has the potential to completely change the content market bringing in fair play within the market. Its services promise to be top notch while its timing is just right.
More information of Media Protocol and its token economics including its advantages can be obtained from their official website or through the following links
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Originally published at steemit.com on July 14, 2018.