Media Protocol – Rewarding Content Creators Through Tokenization

foley (39)in #blockchain • 6 years ago

Content creation has grown rapidly over the course of last decade due to the continued popularity of social media platforms. Every single day we consume contents ranging from articles to videos to images etc. through Facebook. Twitter, YouTube, Google etc. We also create contents by commenting, sharing and other activities which makes these platforms active and lively.

But do you realize that while you spend so much time and resources commenting, chatting, liking and creating different forms of contents on these platforms like Facebook, Twitter, YouTube, they are actually busy making all the money while you get nothing for keeping these platforms running. Facebook today is one of the highest income generating platforms in the world.

How do you think Facebook is making this huge amount of money?

It’s basically from content sharing and consumption on the platform. But this type of relationship seems so unfair on every ground because the content creators on these platforms don’t get to be rewarded while these centralized content sharing platforms like Twitter, YouTube get to keep all the money. It is therefore permanent to redress this situation by making sure that content creators on these platforms get rewarded for their creativity.
Luckily enough, we have a novel decentralized content sharing platform which aims to reverse this inequality and reward content creators for their time and creativity.

Introducing MEDIA PROTOCOL - Rewarding Content Creators Through Tokenization

Media Protocol is an open source blockchain protocol which aims to create a decentralized ecosystem that brings content creators and content consumers together for the exchange of contents, data and incentives. Medial Protocol creates a mutually beneficiary platform that rewards both content creators for their creativity and also rewards content consumers for their engagement. So basically, Media Protocol wants to reward you and I for sharing valuable contents online and also incentivize us for commenting, watching, liking and other forms of engagement with contents online just so to create a compensation-based relationship between content publishers and content consumers.
Media protocol creates a direct link between creators and consumers. Content consumers can pay content creators directly for consumed content and will also be able to earn some rewards for interacting with contents using MEDIA Tokens which is a standard ERC-20 token that powers transactions on the Medial Protocol network. So now you can post your content on this network and interact with other people’s content like sharing, liking etc. and earn yourself some pretty cool rewards.

So, how does Media Protocol aims to achieve this?

Media Protocol aims to achieve this lofty aim of an equally beneficiary content sharing platform with the help of smart contract technology. Content creators are able to turn their content urls into smart url on the Media Protocol network. This smart urls can then be posted and any interaction with this smart urls like sharing, liking, commenting etc. by content consumers will be recorded and rewarded with some amount of MEDIA Tokens which has been pre-programmed. This reward goes directly into user’s Media Protocol wallet while content creators get paid depending on the amount of engagement received on their contents posted.

How MEDIA PROTOCOL is Beneficial To All Stakeholders
Media Protocol is a decentralized content sharing platform is mutually beneficial to all parties involved in content sharing. Basically, there are at least 3 parties involved on the network which are content creators, content consumers and advertisers. I’ll explain the benefits and incentives that stakeholders stand to gain by using this platform below.

Content Consumers
Content consumers have the opportunity to earn some rewards in form of MEDIA tokens for engaging with contents on the Media Protocol which they can convert to any other cryptocurrency or fiat. They also have the possibility of spending rewards earned by tipping their favourite content creators for a job well done. How Media Protocol benefits a typical content consumer is summarized below:

Consumers get rewarded for engaging with contents from publishers and creators on the Media Protocol network. Activities such as sharing, commenting, watching, reading etc. are rewarded with MEDIA tokens.
Consumers have the ability to accumulate tokens in their MEDIA PROTOCOL wallets which they can use to perform other forms of transactions on the network like exchanging for fiat or for tips
Consumers can also use tokens earned on the MEDIA PROTOCOL network to pay to gain access to some publications and other micro-transactions.

Content Creators
Not only is the MEDIA PROTOCOL beneficial to the consumers but also beneficial to content creators.

Content creators have a platform in MEDIA PROTOCOL that connects them directly with content consumers without the need for centralized content sharing platforms like Facebook, YouTube etc. which charges exorbitant amount of money in advertising costs. This is an important cost-saving incentive that is beneficial to any content creator
Content creators have the opportunity to receive some payments from content consumers in form tips depending on how enjoyable consumers find their contents.
Content creators can also be rewarded by brands for promoting their products.

Advetisers
Advertisers are not left out in sharing some of the amazing benefits of the MEDIA PROTOCOL network. They can also take advantage of this platform to get their content to their audience in a much economical way than what the current market gives them. The following are some of the advantages that MEDIA PROTOCOL gives advertisers.

Media Protocol gives advertisers the opportunity to collaborate directly with content creators to advertise their products.
Advertisers also have a cheaper advertising medium to promote their products in Media Protocol rather than centralized sharing platforms like Facebook, Google etc.

In conclusion, I think MEDIA PROTOCOL is just what the content sharing market needs at this moment in time. Content creators have a cheaper and decentralized platform to share their contents directly with their audiences while content consumers can earn some rewards for engaging with contents like sharing, commenting, liking etc. This is mutually beneficiary to all parties involved and is secured with blockchain technology. I would advise everyone to get on this platform and start using it for content sharing.

Team