✅One of the most effective and borderline advertisements that ran across the internet in various platforms was on the hit series on Netflix, 13 Reasons why. The popular opening phrase, “Hey, it’s Hannah, Hannah Baker” could be heard upon opening a video on YouTube or literally just any site that supports video. The advertising method was effective to the target audience but it was irritating to some. This advertisement represents the norm in advertising in the digital age, shoving advertisements on internet users. There are a select group of publishers and websites that dictate the flow of advertising which has created a monotonous form of advertising that has crippled the effectiveness of ads. Recently, the latest Star Wars movie was released recording some dismal performance which could have been attributed to ‘superhero/action fatigue’. The same is being seen in the advertisement industry which can also be coined as ‘advertisement fatigue’. The advertisement scene needs some freshness which Media Protocol is well equipped to provide.

Creating equity in the content market

✅The Lion’s share of advertisement revenue ends up with large corporations. Content producers and consumers rarely get any substantial amount compared to billions made by just a handful of corporations. Media Protocol wants to shift this normal market occurrence such that everyone involved in content production or consumption gets a share of the huge advertisement and marketing budget set aside by multiple companies, institutions and individuals each year.

Media Protocol plans to use blockchain technology to track movement of content within its platform. With transparency of content from producer to consumer, rewards for participation of creation or distribution of content will be given according to the services rendered. This will lead the change from a centralized form of content control to a decentralized system where everyone has a chance of gaining from data produced or even data consumed.

Decentralization

It can be argued that some of the centralized data corporations take the data they have for granted by misusing the trust media consumers and publishers have placed in them. For example, the Cambridge Analytica scandal that broke out in the first quarter of 2018, it showed some level of incompetence from Facebook. This is just one danger of having centralized data on a section of the world’s population.

Media Protocol is well aware of the dangers that come with centralized data and the economic constraints they hold on publishers and consumers. Decentralizing content and data would better connect publishers to consumers, eliminating middlemen in the process, which in this case are these centralized corporations such as Facebook.

✅With decentralization, the influencing power of most of these digital corporations would shift from a centralized body, levelling the playing field such that content publishers can directly access their target audience without having to pay exorbitant prices charged by centralized bodies. Decentralization through blockchain technology as is going to be used by Media Protocol will also allow Media Protocol to use custom tokens as currency thus reducing the transaction costs within the platform. This would greatly reduce what publishers have to pay for their content to reach a certain figure of their target audience. In Media Protocol’s case, the Media token will be used for all transactional activities within the platform. This also includes the rewards and incentives that Media Protocol will be giving out for participation in activities within the Media Protocol platform.

Data Control

As cited earlier, centralization of data poses a threat to the privacy of the owners of this data.

➡️Decentralization on the Media Protocol channel gives control to the owner of the data and the users of the platform.

➡️They get to decide who can use their data to publish content to them. Transparency through blockchain technology gives Media Protocol users a clear trail of where their data has been used, by whom and how their data has been used.

➡️This creates trust and confidence in Media Protocol users. It also keeps user data safe. Being able to track their data would give consumers some comfort while using Media Protocol.

Extensive reach for every niche market

Content meant for advertising is created for the larger target audience in most cases. For niches with a small following, content is rarely made for them with marketers and advertisers missing out on an opportunity to tailor content for a smaller group that may result in positive sales results. Media Protocol aims to connect content consumers and publishers on a more personal basis which may give rise to more niche content produced to fill the void that is there is the current content market.

Preventing content disasters

There have been ad and marketing fails over the past couple of years especially those that touch on the issues of race. Media Protocol’s platform is designed to find out what type of content the audience is likely to accept. From the viewing of videos and other media data files through the platform, Media Protocol can feed content creators with data that tells them the ‘mood’ of the market thus equipping them with the right data to produce time-appropriate content.

Media Protocol provides a solution for the traditional digital advertising model to a more user-oriented system that rewards both the content publishers, creators and consumers. This provides multiple layers of feedback to each stakeholder in the content marketplace. The use of blockchain as the spine of the platform gives Media Protocol the security and transparency that it will need.

✅Cryptocatnip is the first application that is being tested on the platform to see just how beneficial Media Protocol is going to be. For the latest updates such as this and more on Media Protocol you can use the following links to their platform and literature.

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