MEDIA PROTOCOL: Token Economy.
Amidst the numerous components and attributes of the Media Protocol Project is the incorporation of a dual-faceted incentivization schema into the platform where both Consumers and Publishers / Content Creators can both reward Consumers of their contents and also get rewarded back in return through the Media MPT Token. Whereby the platform also allows for the other arbitrating Media Power Houses to benefit through it’s token incentivization scheme from the various Ads and Contents they themselves Publish and Mediate on the platform. As noted, every cryptocurrency start-up must possess a token, most of which are basically Utility tokens while others fuses together some other functionality into it’s tokens such as for security and identification purposes on the platform through the wallet system and as such the Media MPT Token is one of such tokens.
Media MPT Token Bearers and Subscribers to the platform can pay for the various services they engage in on the platform such as making mini-remissions in other to subscribe to some specific Contents which are off their limits as well as receive rewards in these tokens as they are given a window of opportunity to be staked with rewards in Media MPT Tokens from Publishers for their engagements (reviewing, liking, reposting and commenting) with the various Contents (which is to be betoken by a Smart URL) being Created by these Publishers. Whereas these Publishers are re-staked with rewards in return by the these Subscribers for the Contents they find most interesting as this is done on a voluntary basis.
Media Content Proponents including conventional Media Publishers (such as Forbes, CBS, The New York Times, CNN, The Wall Street Journal as well as other News and Blogging Platforms) and Marketing Power Houses (Google, Amazon, Facebook and other Ads Networks) who wish to attract more Consumer participation and engagements can do so on platforms that are Media Protocol compatible and as such can also be entitled to the Media Protocol reward Scheme for Publishing Contents either directly on the Media Protocol Platform or other third-party Dapps Decentralized Apps) that supports Media Protocol. As the platform supports publications all kinds of Content whether personal publications or as a Media Advertising Mediator, ranging from conventional articles, images, audios down to video file format. Thus these Content Publishers can put up any Content and Incentivize this Content with the help of the Smart URL in the same mannerism that a Publisher would and also create their own incentivisation scheme in other to reward Publishers who posts contents that bolsters their trademark.
The MEDIA MPT Token Utilities
Media MPT token is developed with the intention of prolonging the token’s lifespan with respect to the token Holder as well as improve conventional Consumer engagement an usage on the platform’s ecosystem. Below are a list of the token’s basic utilities and functionalities;
The In-protocol payment system is initiated is initiated when Content Publishers on the Media Protocol ecosystem levies a certain amount of fee (Also known as Paywell fee) on their content whereby a Subscriber who wishes to access this content would have to satisfy this Protocol by paying the levied fee before they are subsequently granted ingress to the said content. This protocol can also be initiated when a Subscriber recommends a certain content in the form of tips which are to be recouped by the content’s Publisher.
Token hold channel: For Third Party Content Promoters.
This protocol is initiated when third-party Media Power Houses/Content Promoters intend to advertise any content on the Media Protocol Ecosystem, whereas these Media Ads Networks would have to acquire Media MPT tokens so as to be able to publish these content on the Media Protocol’s Network. Due to the amount of Publications they would be carrying out on the network a reasonable amount of Media MPT tokens would have to be purchased by these third-party Ads Networks whence they are further required to accumulate these tokens in their wallets over a specific period of time depending on the duration and quantity of these campaigns they wish to Mediate. As future developments are in place to ensure a much quicker first come first serve routine so as to reduce the holding duration of the Media MPT tokens for prospective third party Ads Network.
Token hold channel: For Content Publishers and Promoters.
The appointment of Media MPT tokens to a Smart URL by Content Creators and Promoters alike which is to be attached to a specific content, ships in with an In-house protocol whereby these Media MPT would be locked for the period of time the Content publication and campaign would last pending when the token distribution gets to all the participants involved in the content’s incentivisation scheme (Subscribers to the content and third party dapps). This feature tends to serve as the most notable trait of the Media Protocol Ecosystem’s Incentivising scheme.
Token hold channel: For Content Consumers and Subscribers.
Content Subscribers are not excluded from being beneficiaries of the token holding scheme as they would have to hold the tokens acquired through their engagements with various contents as the incentivisation scheme is designed to disburse a micro amount of reward as rewards in Media MPT tokens. These rewards would have to be amassed over a period of time until they are reasonable enough to be traded for other cryptocurrency or flipped to fiat as the case may be. Also Third party dapps (Decentralized apps) would have to infix a ranking system so as to reward Subscribers who has amassed a certain amount of Media MPT tokens. Other advantages for the Consumers with respect to token holding includes eradication of double spending Subscriber tokens by attaching a minimal on-chain balance requirement to the Protocol’s ecosystem, an easy access to tokens that so as to facilitate tips disbursements to Content Creators since they already have these tokens in place and also reducing exchange costs and hurdles required in converting from the various cryptocurrencies and Fiat into Media MPT tokens and vice versa.
Author’s Bitcointalk Profile: