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Handheld devices are part of our everyday lives. Walking out into the streets, one would notice a great deal of people using their smartphones for various activities such as navigation. However, the most common use of smartphones, apart from communication, is consumption of content. Be it in YouTube, Facebook, Instagram or Spotify, media consumption can be said to be at the highest level yet thanks to the convenience of smartphones and other portable devices. The time spent in enjoying media is a lot, this has prompted developers from Media Protocol to come up with a platform that aims to improve the aspects of the media intake space such that the platform and the community using their platform can benefit greatly from content consumption.
Daily, people spend hours or in some cases even the whole day just enjoying media hosted in various platforms. In as much as this may be satisfying, it may also hurt development as time that could have been spent making money is spent on activities such as binge watching. Media Protocol proposes a viable solution that will see consumers get rewarded for the media consume and how they also interact with this content.
It intends to have publishers of various content integrating their applications with this application in order to deliver the reward service. The Media tokens will be the objects of reward. Publishers can incentivize their target audience to consume their content by attaching rewards in the form of Media tokens which are received based on the interaction of consumers with the content that has been published. Activities such as watching videos or listening to music from a publisher who has incentivized their content will earn consumers Media tokens. Furthermore, sharing of this content with friends who also end up viewing the media will earn the sharers Media tokens.
In order to give an example of how this works, Cryptocatnip has been used by the Media Protocol team so that developers can understand how to integrate their various platforms with it. It will also give them a glimpse of how rewards are given and how each party gains from this market. Cryptocatnip’s target audience are those who follow the latest in crypto news, hence they get rewarded for keeping up with what they follow.
In any economic sector, the consumers and creators of products and services are the ones who gain least or even lose as the middlemen make the most profit. Eliminating the middleman would allow this platform to operate smoothly with both the creators and consumers benefiting from this action. Instead of paying extra to facilitate the existence of middlemen in this market, Media Protocol, through the application of blockchain, eliminates the need of unnecessary intermediaries by acting as the only link between the publisher, creators and consumers of content. Lower costs of subscriptions and operation are likely to be realized by parties that will be using this platform. Furthermore, through the token rewards that users and publishers gain from participating in activities within the platform, it can even be cheaper as these tokens can be used to pay for the various services provided by Media Protocol.
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