The Growth Potential For A Decentralized Content Ecosystem
In recent years, much of content marketing has shifted to video streaming. Thanks to YouTube which opened video expression to the masses and a new income source for content creators. Today the top video-content stars in YouTube (according to data by Forbes) earn up to $10 million annually.
It is estimated that by 2019 most of the content marketing will be video (~ 80 percent) and a huge portion of video content will be consumed by mobile users. As per the research, in 2017, 55% of the video traffic was consumed by mobile internet users and will reach 79% by 2020.
If the stats published in Forbes is to be believed, businesses must evolve fast with the new times.
- 90 percent of consumers indicate product videos directly inform purchase decisions.
- 92 percent of videos viewed via mobile are shared compared to other modes of access.
- 95 percent of consumers retain communicated information through video, while only 10 percent retain information from reading.
Challenges currently faced by the industry:
Today popularity of internet and traffic generated by billions of global users have led to the rise of internet giants such as Facebook and YouTube. These corporations control the access and wide visibility or distribution of digital content. This begs the question of just how much freedom of expression is actually allowable.
Though enormous advertising earnings are generated through these centralized-content platforms, it has long suffered from unequal revenue distribution and a lack of copyright protection.
How blockchain helps to solve these challenges:
Blockchain technology creates a system where creators of content are able to sell content directly to buyers without the intervention of a centralized corporation.
Build a tokenization economy: By utilizing blockchain, Contentos builds an ecosystem where all participants (creators, viewers) are awarded COS tokens. The issued tokens can be used as a payment method in the platform in the following ways.
(1) Advertising companies buy these tokens as a payout to the ecosystem.
(2) Viewers can use COS tokens to pay for subscriber fee or tip (reward) the creator for their work.
Smart contracts for auto payment: When the viewer watches any video and if promoters advertisement gets featured, the content creator gets automatically paid thru the smart contracts. Therefore, content creators don’t have to worry about inaccurate payouts or late payment.
Additionally, since all transactions are recorded on the blockchain as a public record, it makes the payment completely transparent and for anyone to verify the accuracy of payments. Smart contracts can also facilitate additional compensation rules. For e.g. Bonus incentives paid by advertisers to creators when their content exceeds 10,000 views
Engagement program: Creators can build engagement program with their followers such as viewers are awarded COS tokens if they share the content link in their social media. This enables wider distribution of content and helps creators to grow their following.
Content ownership right: With the use of blockchain, all content information(e.g. owner) will be securely saved in the blockchain which will allow interested parties to check if there are any undisputable record of who is the rightful owner of the content.
Content selling: Use of smart contracts in Contentos also enables the sale of content between creators. For instance, a video creator may publish a soundtrack request and allow music creators to bid for involvement. Profit sharing may also be achieved through smart contracts.
This opens the window for multiple opportunities:
People who live stream their video game play, either by hobby or profession, are known as streamers. The practice became popular in the mid-2010s on sites such as Twitch and later, YouTube.
Live streaming market size: The game live streaming industry is worth $10.1 billion and is expected to increase by an additional $3 billion in 2019. (Source: Streamlabs). Twitch remains the most popular streaming platform among gamers.
Streamers who complain about substantial commissions charged by central platforms like Twitch can instead live-stream their gameplay in Contentos platform and earn COS tokens (income) from sponsors or Ads, subscriptions, and donations.
Today in Twitch, the standard subscriber rate is $4.99/month which is split 50/50 between the platform and the streamer. This is open to change depending on viewership and number of subscribers. By joining Contentos, streamers retain 100% of the subscription fee paid by viewers (or followers).
(2) dApp developers: “dApp games with Contentos integrated”
dApp game developers can integrate built-in streaming option which directly connects to Contentos platform. As a result, any user of dApp game can stream their gameplay in Contentos and start earning from Ads, or tips(donations).
Additionally, today many dApp game developers struggle to promote their games to the right audience, a targeted persona (dApp user) which can be attracted and sustained as ‘early adopter’. With Contentos, dApp developers can now easily find influencing streamers in the platform who can promote their game to the dApp users and quickly gain early users.
(3) Music artist:
Musicians can make a viable living making music without having to sign with a record label these days. However, making your music requires an effort of a team including managers, PR, agents, and more. Using Contentos, Musicians can request for video editing service and professional video developers can bid for involvement. Through such a mechanism, musicians can quickly get the team members they want.
In addition, Musicians can offer community programs which will help the new artist to get established and make their name. Such as rewarding Fans for their engagement activities (e.g. share, like) with COS token or provide exclusive offers to top engaged fans e.g. in first 24-hours music access available only for exclusive fans.
Contentos is a blockchain startup aiming to develop a decentralized digital content ecosystem that empowers all members, including creators, consumers, and advertisers, to earn fair compensation for their contributions.
Currently, the platform ecosystem already hosts 3.46 million+ videos and 159 million+ live streams. It is very popular globally among steamers including the Chinese gaming community. Recently Twitch was banned in China (in Sep 2018) which largely impacted the gaming community for a brief period of time until Contentos came to existence.
To know more about Contentos, visit the website.
Disclaimer: I do hold some COS tokens.
Article Also Published here.
Growth Potential For Decentralized Content was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.