FLETA and Stream Protocol Signed a Contract to Develop a Blockchain Mainnet
FLETA signed a contract with Stream Protocol(STPL), a content revenue distribution system, to develop STPL mainnet based on the FLETA network. FLETA will also provide overall project consulting and blockchain technology for building the Stream Protocol ecosystem.
Stream Protocol is a system that fairly distributes revenue of Over The Top(OTT) service. It utilizes Content Smart Contract(CSC) of a blockchain network to solve unfair income sharing and inefficient content production processes in the entertainment and media industries.
Amid the rapid growth of the contactless service market due to the COVID-19 pandemic, the media and entertainment market, or the content ecosystem, continues to grow. Even though it increased the total revenue of the market, most of the profit is distributed to a small number of platforms or producers. In contrast, many other contributors to content production only receive a small amount of promised payments. Such a revenue distribution system does not reflect the actual contribution of the production process overall, so it is regarded as unclear and unreasonable.
Accordingly, Stream Protocol was started to solve the problem of the industry’s unreasonable revenue distribution structure, and the solution it found was blockchain technology. Once stored, information cannot be modified arbitrarily on a blockchain network that ensures the data’s reliability and security. Therefore, the distribution system based on blockchain’s data is also credible.
In the Stream Protocol ecosystem, content makers put information about how much they contributed to content production on the blockchain network. After that, the profit gained by the watch time of viewers is distributed transparently and impartially according to the recorded contribution rate. Such a distribution system also shortened the existing one so that the revenue can be shared efficiently and promptly. Ultimately, it accelerates reinvestment and reduces the cost-bearing of content creation, which will help improve the environment of content production.
The blockchain-based Stream Protocol ecosystem is implemented by utilizing the STPL token. Viewers pay for watching contents in STPL tokens, and they also receive compensation in STPL tokens for viewing advertisements and contents. In the case of creators, they receive rewards for content production in STPL tokens. Through this virtuous cycle, the production and consumption of contents in the Stream Protocol ecosystem will be activated.
Furthermore, through a partnership with STABY, an on-demand service platform, Stream Protocol aims to create an ecosystem that all participants earn profit as much as possible. Together with STABY, it offers various services such as connecting advertisement agencies and content creators with cast and crew they need by using its AI Matching System. Especially, Stream Protocol’s revenue-sharing OTT platform is distinctive; unlike most of the other OTT platforms charging membership fees, users can buy content they want in Stream Protocol. Its system will fuel consumption, and the revenue will be shared among the participants of the ecosystem.
Stream Protocol and STABY will form an integrated platform that includes the media, entertainment, advertisement, and OTT market, which will eventually create a business model that can generate the ecosystem’s continuous profits. They ultimately aim to contribute to developing the whole industry and market. Additionally, they are willing to create original content and scout their own creators and actors to build a system that participants can create and consume in the Stream Protocols ecosystem. Stream Protocol’s final goal is to be a global entertainment platform with many international users.
FLETA understands the importance of the media industry, and we are glad to announce that blockchain technology can also be applied to the entertainment and media industry. Starting with STPL, we believe the blockchain technology will be widely utilized in the industry. FLETA’s technology can be used in more fields, and as more use cases are developed, blockchain technology will be closer to our daily lives.
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