How Does Blockchain Technology Empower Digital Content for Creators?
Digital content is now an integral part of our daily lives, whether it be audio, video, or text. content creators have experienced tremendous growth over the past decade and have been at forefront of the technology revolution.
There is an explosion in original content being shared online via popular social media platforms like Instagram, Facebook, YouTube, and Twitter. These platforms are a powerhouse of content, so it is not surprising that they are so popular. These platforms offer a way for people to be incentivized to create high-quality, valuable content and reap the benefits of their efforts through profit sharing. Are they real? Or, at least that’s what it seems to be.
However, the reality seems to be different. Top-tier platforms advertise content created by original creators to make big bucks. However, the profits are not shared with content creators. Some may be paid a small percentage.
The major challenges facing today’s content industries are:
- Content piracy.
- Duplication of content.
- Undelivered content curation rewards.
- High operational costs.
- Long payback period.
- Limited monetization channel.
- Aggressive competition.
- Blockchain technology can help. It’s an ideal ecosystem that helps:
- For every piece of content that is posted on the virtual space, creators are recognized and rewarded.
- Have control over the content.
- Take major decisions regarding ownership, pricing, earn money, etc.
- The system should be mutually beneficial. Content creators can pay readers to view their content, support it, or voice their opinions.
Some tools that empower content creators include:
1. Content Box
Content Box is one solution that aims to improve the quality of the content industry. This open-source, decentralized platform will offer a unified payment system, a shared content library, and a shared user pool. When their content is consumed by these platforms, content creators will be paid a fair amount.
Creators will have direct access to consumers. This will eliminate the need to use intermediaries. This allows advertisers to access a shared advertising statistics ledger that is automated using smart contracts. This allows for auditing and verification while keeping records transparent.
Content creators will be able to receive rewards for every content they produce. Based on the contributions made, tokens will be given to consumers. These tokens can then be used to consume content such as streaming a movie or watching a song.
Steemit is a blockchain-based social media platform that blogs and offers rewards for content creation and curating. It is a social media platform that supports online communities and provides virtual currency to return value to their contributors. It works more like Reddit because it supports upvoting as well as downvoting. All content is saved on the servers. It is a website that uses revenue sharing. It contains information about the rewards scheme as well as new STEEM tokens that are being minted every day. Based on the content’s popularity, the community pool is split among users.
Imogen Heap, a musician, plans to launch her blockchain platform called Mycelia. It relies on smart contracts built on the Ethereum blockchain. It will allow musicians to license and sell their music via a peer-to-peer platform. The artist will receive payments which will be divided equally among all those involved in song production. The artist is the sole owner of the money that is paid. There are no middlemen to pay.
It’s a blockchain browser that creators can use. It is an open-source web browser that blocks unwanted ads. It uses blockchain-based tokens to reward content creators. It provides deep protection through a “safe, private browsing mode”. It loads news sites up to 8 times faster than other web browsing browsers. It was developed by privacy-focused and performance-oriented pioneers.
This provides copyright protection. You can monitor how they are used by registering copyrights on the blockchain. This platform is perfect for protecting images forever, and it’s free! Its goal is to make creativity the most valuable asset in the world. Each user receives a vault in which to store his images. Each image is then assigned a permanent blockchain record. They can track the usage of images by using the web search function, which allows them to identify copyright infringements.
Blockchain is the perfect solution for all involved in the content market, regardless of whether they are content creators or consumers, or advertisers. It gives each person complete control over their intellectual property. All these tools, and many others, are essential to enable the digital content sector and provide a safe environment for all those involved in content creation and distribution.