MEDIA Protocol’s Tokenisation Of URLs
The direct economy of MEDIA Protocol lets publishers offer tokens, and customers to collect and spend them. Pretty simple on the surface, but how does it actually work?
Smart Contracts And URLs
One of the major features of blockchain, smart contracts bring their automation and security features to the table.
Tokens are collected or distributed when specific smart URLs interact with those smart contracts. So if a publisher has attached tokens to a specific URL, the smart contract verifying the customer’s identity allows them to collect those tokens and store them in their wallet.
Any dApp can see which URLs have promotions and rewards attached — all thanks to the transparency of the blockchain itself.
URLs don’t just have to be webpages either. They can represent any kind of media; from articles and images, to podcasts, music, or video.
How Do Publishers Use MEDIA Protocol?
Publishers can choose to attach reward tokens to specific URLs. These can be scaled — different levels of interaction or engagement can gain differing numbers of tokens in return. Publishers control and set the parameters.
The most likely interaction reward is for shares and likes of that URL’s particular content.
Publishers add the tokenised URLs in the meta description of their page content. While that might seem like an obstacle on sites like YouTube and Facebook where meta tags can’t be altered, there’s already a solution. Publishers simply embed the token information in a part of the page that only the author can access, e.g. the video description box on a YouTube page.
They verify their identity as the publisher by providing their own destination wallet — this private key interacts with the smart contracts.
MEDIA Protocol doesn’t have to be one-way traffic for tokens either. Publishers and creators can also accrue tokens to encourage them to create new content.
What About Consumers?
Consumers’ main activity is interacting directly with content. Every time they share or like tokenised content, or complete a survey, it’s logged by their dApp and submitted to the smart contract that issues the rewards.
Promotions can have conditions attached — a certain level of action, a time limit, bonus periods — and the smart contract applies the relevant and active parameters there and then.
Using the dApp wallet is how the customer verifies their identity, again through the permitted interaction of their private and public keys with the smart contract. There are a number of approved ways to verify their identity through the dApp, so they give permission to whichever information they are most comfortable sharing.
To spend the tokens they’ve accrued, the frictionless paywall interaction will allow them to send tokens from their wallet, again interacting with a smart contract that sets the amount needed.
Simple And Direct
Using blockchain and its handiest features, all the customer really needs is their dApp wallet to be up and running in order to rack up those MEDIA Tokens. When they come across paywalled content they want to access, they’ll have tokens ready to exchange for it, with just a few taps.
Publishers can set their rewards up all at once, using different parameters to reward levels of interaction, certain time periods, or bonus rewards.
Both sides have a straightforward means of interacting, and it’s rewarding and useful for publishers and consumers alike.
People. Value. Content.
For more information regarding MEDIA Protocol find us on our social channels below:
Website: www.mediaprotocol.org
Facebook: https://www.facebook.com/MEDIAProtocol
Twitter: https://twitter.com/MEDIA_Protocol
LinkedIn: https://www.linkedin.com/company/media-protocol/
Telegram: https://t.me/Media_Protocol_Community and https://t.me/MP_Announcements
Medium: https://medium.com/@mediaprotocolsm
YouTube: https://www.youtube.com/c/MEDIAProtocol
