Media protocol platform serves as a direct channel for interaction between publishers, creators and content consumers as well as for exchange of content, data and financial incentives.
Content publishers, creators and brands write original content but the problem lies with content distribution platforms they pay to boost their contents, neither do they promote them nor give adequate compensations. Instead of that, these platforms scoop immense revenues from the monetization of users' data, services as well as adverts without giving any monetary benefits to consumers and less to the publishers. Furthermore, payment of distribution fees to these existing platforms is ineffective most times as content do not get to target audience.
Media protocol is developing a platform that will bring about mutual benefit and exchange of incentive, data and value for market participants. Both creators and consumers will have the chance to get rewarded with MEDIA, an ERC-20 compliant token of the ecosystem. The platform created an app - CryptoCatnip integrated with MEDIA Protocol which utilizes machine learning algorithm to recommend most relevant content consumers at the same time track content interactions to make incentive allocation easier in a transparent manner. The good thing is that third party developers can also create their own apps, blogs, websites with MEDIA Protocol embedded and still get rewarded according to the volume of content served and consumed on their platform. This will boost the adoption of MEDIA Protocol.
The participants of this ecosystem comprises of publishers or creators, promoters or distributors and consumers. With tokens paid into the platform, content creators register their content URL which is used to reward consumers who interact with their content and other content distributors. Interaction or content consumption can come as sharing, liking, reading an article, watching a video and completing various survey; each assigned different token amounts according to the publisher's discretion. MEDIA Protocol provides flexibility as regards token changes over different time frame and interactions.
The economic function of the protocol is designed to track potential consumers based on their content interest in order for promoters to allocate reward. In as much as creators can give contract to promoters, promoters can as well do the same whereby publishers create content to support promoter's brand. In this case, promoters reward both publishers and consumers through MEDIA Protocol.
By using MEDIA Protocol enabled apps to view content, consumers can get incentives directly without the need for intermediaries who singularly reap rewards. In addition, this platform ensure consumers have access to high quality content of their choice. Unlike existing distribution platform that do not give value for consumer consumption, MEDIA Protocol does that better without delay. Reward level can be split into a number of time interval and the tokens allotted is shared among the consumers of that content bearing in mind that incentive reduces as the content gets older. Tokens rewarded can be traded, exchanged or used to pay for subscriptions.
MEDIA Protocol will eliminate system manipulation of any kind in form of fake views by bots & sybil attacks by Twitter and Facebook account verification where users' public wallet address and access token is verified by the server.
Using MEDIA token, transactions are processed and completed within the system. Token holders will enjoy various benefits. Tokens are locked in smart contract for a duration of promotion time after which they will be released. With this token, all protocol participants are adequately rewrded.
The team consists of intellectuals experienced in media and advertising field. Martin Adams being the Co-founder with Tom Graham, James Tabor is the CEO, others are Mark White(CTO) and Josef Sevcik (Blockchain Architect).
In summary, MEDIA Protocol is a platform that is designed to enable smooth relationship between the participants with the best user experience. Each of them are rewarded for the role played especially consumers, in their content interaction.
To find out more about this project, here are some related links:
Website, Whitepaper, Telegram, Facebook, Twitter, Bitcointalk ANN thread
Writer's bitcointalk username: Anike01
Writer's bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1565368
Wallet address: 0x61Bc9bdB116AC8c1dBD096FC1170aB573854A169
