Spokkz - The Entertainment Industry tastes the Blockchain

toluene (47)in #crypto • 6 years ago (edited)

Entertainment can be referred to as the creation of events, performance or activities designed to provide amusement, pleasure and enjoyment for an audience. It has been in existence in different forms for ages, right from the ancient times when storytelling, as the world became more advanced and with the acceleration in technology, the entertainment process also improved with the recording and selling of entertainment products.

Entertainment in the 21st century is so advanced that audience now find it possible to stream variety of TV shows, movies, music, documentaries etc on their internet-connected devices through service providers like YouTube, Netflix, Spuul, etc. But the amazing thing about technology is that it only gets better.

The advent of the Blockchain technology has brought about innovations in different industries and sectors. Companies worldwide now recognize integration of the Blockchain technology as the best strategy to better satisfy their customers, upgrade and expand in other to have a dominant advantage over their competitors. And its high time mass media industry tastes the Blockchain.

Spuul is a top media service providing company launched in 2012, with the aim of delivering premium Indian streaming contents to viewers all over the world. Spuul is an existing company with over 60million users and over 4milion paid subscribers as at the end of March 2018. Spuul is unique for being the first platform that furnishes its users and subscribers with the privilege to download and watch content offline. Spuul ambitions are to provide high quality for streaming content for viewers worldwide at an affordable price and also to inexorably compete with the likes of Netflix, Amazon and iFlix for high quality non-English content. Spuul aims to utilize the Blockchain technology for the needed expansion and innovations through the introduction of SPOKKZ.

Introducing SPOKKZ

Spokkz is a decentralized platform that aims to disrupt the mass media industry by providing an innovate platform that revolutionize and solve the problem and inefficiencies in the industry. Some of the problems experienced in the industry are as follows:

Community power: The present industry is designed in such a way that there is no recognition for the community in the production process, i.e. the viewers are not involved in the production process to be able to influence the quality of contents offered by the producers. Therefore viewers have little or no choice than to consume the videos created by the producers. Also the community is not properly acknowledged and rewarded for their effort and contributions (like review) towards to video, but are further exploited by being spammed with different forms of advertisement while viewing.

Optimization of earnings by content creators: After the demanding process of creating contents, the contents are then pre-sold or sold post production to the intermediary service providers like cinemas, YouTube, OTT players, etc who make huge amount of profit from it, with the content creators not properly incentivized. This system is exploiting and discouraging to the content creators

Lack of funds in the production process: Producers during the course of creating the content may experience insufficient funds and will be forced to create room for advertisement in the content which may have a drip in the quality of the content.

This system of things is highly inefficient and calls for an innovate alteration

SPOKKZ; the ground-breaking solution

Spokkz is a decentralized platform that seeks to solve the problem encountered in the film industry by creating a balanced platform that properly incentivizes all the actors in the industry for the contributions towards the creation of contents. Spokkz will disrupt the industry by eliminating the monopolistic advantage the middlemen enjoy and provide equal power for all the actors (the content creators, the community, the advertisers and the star) in the industry.

Spokkz creates a platform that allows users to pre-fund creation of content through crowd funding thereby also having influence on the quality of the contents produced. Participants involved in the funding of a content are incentivize by Spuul/Spokkz by issuance of bonus tokens to them, they will also see an increase in the value of their tokens if the projects they fund does well. Spokkz also reward the community for their effort of reviewing, ratings and comments made by them.