Content Market Never Changed, but MEDIA Protocol will Change It

in #ethereum3 years ago (edited)

With the advent of the internet, the way people interact with technology has been changed forever. The result has spilled to how people interact with many industries. But one of the markets that haven't witnessed an evolution is content.

The internet has allowed people to connect with one another with ease, and as a result, the market size of content production and consumption has grown exponentially. The internet has grown the market size of content but it has not changed the way this market functions.

No Change

Prior to the internet, content producers would work for large, centralized entities like newspapers or television networks.

The internet allowed the creation of platforms where anyone could be a content producer--this lead to growth in industry size as the industry could indirectly employ more people. However, the means with which the industry works has stayed the same: content creators are dependent on a centralized entity to publish their content and content consumers must abide by the demands of the platform. The age-old problems of the content industry have not changed.

Creators

  • Content creators provide the labor in the content industry; they are the ones developing innovative means to attract an audience and they are the ones risking the opportunity cost of their time, yet the platforms remain the real winners in the content industry

  • Most platforms are keyed on audience quantity and so they have a disregard for quality of content and care more about the efforts content creators make to draw more views or readers. This forces creators to limit their quality and focus more on tactics and strategies for attracting greater audiences; click-baiting is just one example.

Consumers

  • Platforms, in an effort to draw more revenue, often store user data to gain an increased insight on which ads should target a specific user.

  • Platforms' algorithms often put higher value to click-bait content and, consequently, the audience could be presented with low quality content.

Another major problem with platforms is that there isn't an effective curation taking place. As a result, content consumers have a difficult time discovering content creators that meet their interests and standards.

A Solution

A new blockchain project, MEDIA Protocol, wants to redesign the way content flows to the masses. MEDIA Protocol provides an ecosystem where there isn't a central authority controlling the flow of content; it allows anything with a URL to incorporate this functionality.

  • Content creators will get the full fruit of their earnings. Additionally, they will be able to create the content they want with their own quality standards as there won't be a governing algorithm forcing them to make click-bait titles or hollow content designed to push readers to the next view. MEDIA Protocol will allow content creators to reach their full potential in a truly open market content economy.

  • Content consumers won't have to be concerned about a central entity storing their data for potential misuse. Content consumers will be able to directly reward the creators at the rate they feel most adequate as MEDIA Protocol offers both a pay-wall system and a native tipping mechanism. Also, those content consumers who promote creators' content or become early followers could be rewarded by creators who expense tokens to promote their work; these consumers would act as valuable curators.

MEDIA Protocol dodges the notion of developing algorithms that empower certain curators at the disadvantage of others. This forces creators to align their content with the wants of the algorithm, thereby severely limiting the creativity of many creators. Instead, MEDIA Protocol empowers the masses to curate the content and highlight to others the creators with the greatest talent.

Wrap-up: MEDIA Protocol is redesigning people's interaction with content. It creates a true free market economy where creators are able to directly reach out to consumers, allowing creators to earn the full earning of their work.

Essential MEDIA Protocol ICO Links

🌐 Website: https://www.mediaprotocol.org/
💡 Whitepaper: https://www.mediaprotocol.org/papers/whitepaper.pdf
👨 ANN Thread: https://bitcointalk.org/index.php?topic=3396313
💻 Telegram: https://t.me/Media_Protocol_Community

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Yeah I think there is a need to move the content away from centralized places like Youtube, Reddit, etc.

Have a preview of the future of content with CryptoCatNip; a development by Media Protocol's team as a sample of what can be achieved with this project.
https://www.getcryptocatnip.com/

The times are quickly changing, the truth is that content marketing is evolving and growing at an impressive rate. The golden days of traditional marketing were all about radio, TV and print ads as well as direct mailings and cold calls. This type of marketing, though, has mostly been phased out, and digital marketing now stands in its place. Thanks for your thoughtful post @hatu

You phrased the comment quite accurately: "growing at an impressive rate."

A product like this puts the industry in an evolutionary stage.

And thank you for taking the time to share your thoughts; I really appreciate it. :)

Most important informative article.

My Post

Thank you iroz!
Glad you found it informative :)

Nice post - I like your article

Thank you!
Glad you liked it :)

@hatu this project sounds to good to be true. i mean ... they use so many words but i dont think they will be able to deliver. why?

for same reasons why steemit is facing so many issues and challenges.

There's a lot of ambition in the crypto market and that's why many teams end up pushing extreme roadmaps that could be difficult to achieve.

But Media Protocol's team is heading in the right direction. They've already launched a functional app that utilizes the Protocol: https://www.getcryptocatnip.com/. They believe this will set a strong example for developers, providing a clear means of how the Protocol can be integrated into their developments.

thank you @hatu for your amazing reply.

if you would have to compare this tool to any other social media out there ... which one would you choose?

Actually, you raise a good point.
That's the different between MEDIA Protocol and Steemit; have a look at new post for an in-depth comparison.

Steemit aspires to be a top-tier social media platform, but MEDIA Protocol simply wants to be something like a Steemit-builder. It provides the technology stack necessary for any platform out there to become a decentralized content hub.

thanks for that link. I appreciate it a lot

upvoted it already and will read this post later tonight (before bed-time).

hope we can connect closer (via email) one day. i value your input here a lot. and we share so many similar interests.

Enjoy the read :)
And please, feel free to contact me on Telegram: @HatuSS

i hope mediaprotocol will realized as soon as possible, and hmm maybe it will give more justice for content creators

Hi Calprut,
The project is developing quite well and the team behind has already put Media Protocol to use; try CryptoCatNip to get a first-hand experience.

https://www.getcryptocatnip.com

Careful, you forgot a "w" in that url ;)
https://www.getcryptocatnip.com/

Nice article, thanks for sharing. I've smashed the upvote button for you!

Also, if you are looking to get some tokens without investing or mining check out Crowdholding (https://www.crowdholding.com). They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.

I'm already aboard buddy; you can stop asking now.

You're welcome!

good read! so, content creators are paid, platform owners get the data they need. What's in it for the visitors?

No, no; have another read.
The current system involves the platform owners; and because of that content creators don't get the full amount they earned and people have their data stored for ad usage.

New system: Media Protocol removes a centralized platform and allows anything with a url to adopt its mechanism; content creators get full money and consumers can enjoy better quality content without having their data secured by any 3rd party entity.

Blockchain projects are a great way to give people time.
Thank you

Yes, each blockchain project seems to take us a step forward in the right direction!

upvoted and followed u back.hope so in future will also help each other

You're making great pieces on trading; keep it up :)

ur post is really informative.Thanks for sharing

Hi!
Glad you found my post valuable :)

Thank you for this great read! Would you also be interested in reviewing World Wi-Fi project?

I'll reach out to you to discuss.

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Yes content creators do not win something and their rights are not well preserved

Correct, and the current system robs the audience of the potentially great content that could have been had.