What is Digital Assetization on Rakugo?
The crux of Rakugo’s value is an emerging concept we have coined as “Digital Assetization”. In short, it’s the representation of a physical object, content, ideas, and pretty much anything on a blockchain. For the purposes of Rakugo, our secure process of content monetization relies upon the assetization of content on the Ethereum blockchain. Details on how this ties into our revenue model are discussed below. Let’s first discuss an example of currently existing technology that embodies this concept.
Some of you may be familiar with Counterparty’s token creation api accessible through apps like Indiesquare. And there’s also Rare Pepe, aka representations of pepe memes as tokens on the bitcoin blockchain. The origin of ‘rareness’ stems from some far-out forchan nonsense long ago. A community of individuals longed for a way to represent the ‘rareness’ of such memes, and blockchain technology became the medium for this endeavor. For each Rare Pepe deemed ‘rare’ enough an ‘issuance’–or immutable amount of tokens–was created. In this sense each was traded or purchased like one buys an issue of a painting, often denoted as xx/yy on the periphery of a painting in which xx is the issue and yy is the issuance.
Here’s Rakugo’s approach: represent online content on the Ethereum blockchain by deploying a smart contract with parameters of issuance supplied by the creator. Their work is notarized by the creation of the token and ownership of the content is represented through an issuance. These issuances can be traded or handled at the decision of the creator. And revenue generated by the content is then dispersed to the coin holders by way of a royalty payment on a periodic basis.
The ways in which a creator can issue representations of their content via Rakugo’s model is boundless–without the burden of writing code or deploying to the Ethereum network. This removes a key barrier to mass adoption by non-technical cryptocurrency users.
While our initial endeavor is to provide this technology to online content creators and monetize through traditional ad revenue services, our end goal is to empower all creatives with the ability to assetize and monetize their work with the security and accessibility of a distributed ledger that blockchains provide.
For more information, check us out at Rakugo.co
Best wishes,
The Rakugo Team