MEDIA Protocol is an Ethereum based protocol that is aiming at disintermediation between publishers and content creators to allow direct exchange of content, data and consumer information while offering financial incentives to each party independently.
The MEDIA Protocol
MEDIA Protocol is an open architecture system that creates a multi-directional economy, where publishers, creators and content consumers exchange content, data, and financial incentives, directly. The open-sourced protocol was first built in the latter half of 2017 to solve the problem of centralized content distribution.
The Ethereum based blockchain is an open-sourced platform that allows users to create decentralized sharing apps. The MEDIA Protocol is designed as a software development kit (similar to Google Play Store) to allow content creators to share videos, messages, music and text through dApps on the blockchain.
Problems to be Solved
The present way of creating and distributing creative content is heavily influenced by centralized intermediaries who obtain and distribute the content from the creators & publishers to the consumers. The whole system is set up by the corporations who run huge social platforms and search engines to gather data from the consumers with an aim to resell this data to large corporations while offering little or no return to the actual content creators and publishers. The data is then used to formulate analysis on their customer. This causes an imbalance in the sharing of content as the centralized distributors gain more from the content than the actual creators and publishers.
The MEDIA Protocol in Action
The system allows a peer-to-peer connection between publishers and consumers, cutting off the centralized intermediaries. The immutable nature of the MEDIA Protocol ensures that content is original and preserving the content creators from duplication. The protocol provides a reward system on each dApp for the content posted and published on the site as users pay for subscriptions or a paywall feature. Advertisers in their part earn profits through the exposure they gain from through traffic on the site while users are rewarded for their participation on the network such as watching, commenting, curating and sharing the content posted. The users gain rewards as an appreciation token for paying attention to the advertisements and published content on the protocol.
Media Protocol allows publishers to reward consumers for paying attention and consuming their content. The system assigns the reward to a URL and once the user interacts with the media, which can be either in a text, image or video, they are rewarded from the pool using MPT. This incentivizes the consumers to interact with the content hence offering a real audience to advertisers.
The Content Promoters
The content promoters who want an audience for their products or brands have a platform to pay the originality of content creators or the publishers who make an effort to promote their brands. The platform employs a structure to eliminate bot traffic and fraudulent behaviour on the site ensuring the advertisements find real users and a market for their products. By directly incentivizing the creatives and publishers, MEDIA protocol cuts out the middle parties like Google increasing the competitive rates.
Content consumers will be able to both earn and spend tokens within apps that adopt the protocol, as well as receive incentive payments from publishers and content promoters for their interactions with content. For example, a consumer may be rewarded in tokens for liking, reading, commenting or sharing a piece of content or taking a survey.
The MEDIA token (MPT)
The MEDIA protocol powers its blockchain through the MEDIA token (MPT) which acts as fuel to the system. The ERC20 compliant token hails from Gibraltar and is scheduled to be released later in Q2 2018. The MPT token will be used to incentivize the users, publishers, content creators and dApp developers.
The ERC20 compliant token is yet to be publicly offered a month after Q1 2018, the initial set date for release. A total of 1,500 ETH will be distributed on various social platforms in a bounty pool with the funds released 30 days after the end of the public sale.
The team Behind MEDIA Protocol
The MEDIA protocol is led by experts in software development and cryptography who are experienced in management. The team comprises of 14 development team members and 6 advisors from well-respected firms in the world such as Gifto, GoDaddy, Vice Network and Havas Group.
MEDIA Protocol CEO and co-founder James has over 10 years of experience in the field of advertising and commercial rights. James is also the co-founder of Codec.ai, an artificial intelligence company, helping consumers and media understand how advertisements work.
Tom Graham is a Managing Partner at TLDR, a global crypto advisory firm and hedge fund. He is the co-founder of MEDIA Protocol and Digital Future Council, leading crypto initiatives in the marketing/advertising industry.