- Data is precious
Data englobes all your interactions during your internet session.
It’s important for creators to have access to the data related to their content. Without any figures, you can’t have an idea of the public’s behavior on the internet. An artist inside a gallery can see the people looking at their pieces, can analyze who they are, and can understand their fans. As any TV or movie producer needs to know how many people enjoyed their show or movie, any creator on the internet wants to have access to their content’s data consumption. They need it because some incomes are depending on the audience’s size and because this information allows the creators to understand their audience. Those insights help creators improve their work.
We understand data is precious also because it is currently the property of giant internet companies. You often don’t have access to the data you generated and you never own it. As a user of the internet, you create interactions every day on many platforms, you allow the exploitation of your data with millions of cookies but you are never authorized to use it!
- Web3 enables the monetization of your data
Nobody benefits from their data in web2. It’s sold and kept private by tech giants. But People are less and less willing to accept that. According to Pew Research Center, more than 80% of Americans feel they have no control over their data and are very concerned about how it’s used.
The user-centric and decentralized universe of Web3 allows an easier, more transparent, and more secure exchange of data. In this new environment, your data finally belongs to you and brings you value. Web3 makes the data private again and allows everyone to control and monetize their data, giving rise to a rich data economy.
- Without both the creator and the audience, there is no work and no art
A creator’s work is made to be seen. Some pieces are only made for the pleasure of producing art. But, on the internet, anyone would agree that content is broadcasted for a public, whether for a specific one or the largest one.
The audience really gives life to the work. Without people enjoying it, a music/podcast/picture/video becomes invisible.
Every view, stream, play or download counts and has real value. By consuming the content, the audience actually creates value. On one side, the creator has the possibility to monetize the value they created (their work) but on the other side, the audience is never rewarded for its value creation (the consumption).
- A new source of income
Data is a very important asset that has real value. In the web3 conditions, data can have a monetary value:
-for creators, a new and incremental source of income
-for the audience, the first source of income
The remuneration is no more related to the audience base (as an advertising campaign). The data concretely becomes the remuneration.
- How Frak is converting your consumption into money?
To create this new value from the data consumption, we have to follow the interactions. Whether you are a creator or a consumer, you register once on our decentralized ecosystem. Moreover, the creator registers their content.
Then, you are logged all the time on our extension. That tool follows on Sybel, Youtube, etc… all actions of registered people in the Frak ecosystem. Thanks to this tracking, we are able to reward in a very accurate way :
-the creator for every consumed minute of their content
-the user for every minute they consume
So, at the same time and on both sides, Frak remunerates instantly the audience for their fidelity to the content and the creator for this entertainment.
For every consumed minute, the creator and the consumer are paid. It’s as simple as that.
This alternative and incremental way to monetize the data can profit everyone. Every creator, every user. It will also benefit the platforms as it will encourage data production and more traffic.
If you want to continue the conversation, you can connect with us @frak_defi on Twitter or on Telegram.
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