Taking on the issues with today’s model of content creation and distribution, MEDIA Protocol allows content creates and publishers to connect directly with consumers and incentivize meaningful engagement by rewarding them with cryptocurrency.
The full press release with details of today’s announcement is below
MEDIA Protocol uses the blockchain to create a direct, secure, and transparent relationship between content creators, publishers, and consumers – to foster a new, incentive-based content ecosystem.
GIBRALTAR, March 20, 2018– MEDIA Protocol, a blockchain enterprise bringing new economic models to digital content, today announced the launch of a developer protocol that enables content publication and distribution to be tracked via the blockchain. MEDIA Protocol provides a direct connection between content creators, publishers, and consumers, decentralizing the marketing and advertising industries to reduce inefficiency, increase transparency, and create a new economic model that rewards consumer engagement.
MEDIA Protocol co-founder, Tom Graham, said, “Content is more important than ever. Consumers are consuming more, and brands and publishers rely on it for exposure. But the current online market is predominately operated by a few distribution platforms that control what we see and jeopardize the diversity and relevance of the content we’re exposed to. With MEDIA Protocol, we’re reshaping the digital content ecosystem and redistributing power from third-party intermediaries with an incentive-driven model that leverages the directness, transparency, and security of the blockchain.”
Publishers and platforms that implement MEDIA Protocol will be able to incentivize consumer interaction by attaching a predetermined amount of its native cryptocurrency, MEDIA Tokens, to any piece of content, represented by a URL. Content can include anything from articles, videos, audio, or images.
MEDIA Protocol allows brands and publishers to create promotions on the blockchain, paid for in MEDIA Tokens, and enables relevant consumption data to be recorded on the blockchain, increasing transparency and facilitating direct relationships with creators and consumers. MEDIA Protocol creates a content ecosystem where there is no centralized ‘hoarder’ of data, and no intermediary to dilute the two-way exchange.
Content consumers that engage with MEDIA Protocol-enabled platforms will earn MEDIA Tokens for their interactions, which can include viewing, reading, liking, commenting, or sharing a piece of content. Awarded MEDIA Tokens will accumulate in a user’s account, and can be used to access premium content or make in-app purchases within the MEDIA Protocol ecosystem.
Distribution platforms that support MEDIA Protocol will also receive a percentage of the rewarded tokens as a commission-based payment for the distribution of relevant content. This payment is allocated out of the amount transferred from the publisher to consumer, based on the number of content interactions that occur.
CEO of MEDIA Protocol, James Tabor, said, “The media landscape is changing. Centralized content distribution is inefficient and waters down the essential relationships between those creating and publishing content, and those consuming it. MEDIA Protocol disintermediates these relationships, providing greater transparency, security, and individual control. Brands and publishers are empowered with more accurate data, and creators and consumers are rewarded.”
Today, MEDIA Protocol also announced CryptoCatnip, as the first app to implement the protocol. CryptoCatnip is a news aggregator that exclusively features cryptocurrency and blockchain content, and allows users to earn testnet MEDIA Tokens as they browse through the latest news. CryptoCatnip is now available for download in beta on iPhone and Android, with updated design and features released everyday.
The MEDIA Protocol team is made up of industry veterans with a combined 30 years of experience in the media and advertising spaces. Its team of advisors include notable blockchain figures, such as Andy Tian, CEO of GIFTO, and notable Silicon Valley VC, Ted Wang of Cowboy Ventures.
For more information, visit www.mediaprotocol.org, or join the MEDIA Protocol Telegram channel.
About MEDIA Protocol
Created by the team behind Codec.ai, MEDIA Protocol brings a new economic layer to the online content market by utilizing a blockchain-based model to fix the current issues with digital content distribution and consumption. By transforming any URL into a cryptocurrency wallet, content creators and publishers can incentivize and reward engagement with the most relevant and interested consumers. MEDIA Protocol envisions a decentralized future for online content, where newsfeeds and search engines no longer dictate the content we consume.