Blockchain Technology in the Content Industry
Blockchain has the potential to transform various markets within media and entertainment, particularly those in which participants would benefit from the security and transparency that blockchain would offer, such as payment distribution, financing, monetization, and contract enforcement. One of the examples of those markets is the content industry.
With an increasingly globalized world and now totally digital due to the collateral effects of the COVID-19 pandemic, it is not surprising that many people from their homes are taking advantage of the spaces on various platforms to monetize their time and entertainment. However, even though the market increases, some problems in the industry are left unsolved.
The content industry is primarily relationship-based, which means middleman margins and unfair profit distribution often disadvantage creators.
Even though intellectual property protection and monetization are vital in the industry, there are no exclusive methods for creators’ intellectual properties. In this situation, blockchain technology can be a solution. The industry could eliminate fraud, significantly reduce costs, and increase overall transparency with it.
The above are only some options of what Blockchain technology can achieve in the content industry, and many companies are already taking steps for adopting blockchain technology successfully.
An example of this is ISTARDUST, a platform for influencers that seeks a fair distribution of income through Blockchain technology.
ISTARDUST achieves its mission by connecting the influencer industry with other companies to generate more income that is distributed fairly in a decentralized way. The lack of budget for content production is solved through sponsorship, and creators can collaborate within the platform, with the ability to share their work on other platforms such as YouTube or Twitter, thus increasing their exposure and bottom line.
In order to become a platform of global influence, ISTARDUST has turned to FLETA to develop its mainnet on the FLETA platform, in order to satisfy the initial demand of more than 800 million users that they have through Treasure Hunter, a company of Seoul-based media.
FLETA has a Blockchain architecture that can be perfectly adapted to the needs of scalability and response times in general that influencers and the content industry will need in ISTARDUST to show their achievements in various areas, including music, art, and fashion.
FLETA will also share its experience and know-how in the Blockchain ecosystem so that ISTARDUST can effectively promote itself in all corners of the planet, where the platform has a presence.
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