MEDIA Protocol is a transparent blockchain content sharing system. People value content.
MEDIA Protocol is an open protocol that enables content publication and distribution to be tracked via the blockchain, removing the inefficiencies created by centralised players in a large, diverse market. It facilitates a disintermediated incentive and economic layer between the two most important groups in the content distribution ecosystem:
Using MEDIA Protocol, publishers will be able to incentivise consumer interaction with content by assigning MEDIA tokens (which represent a media spend) to a specific piece of content (represented by a URL) and distribute the tokens as rewards for content consumption on content platforms that support MEDIA protocol. There is no restriction to content – it can be long or short, an article, video, audio or an image. It only needs to have a URL.
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. Users can accumulate tokens in their accounts that can be used to make in-app purchases or payments inside the MEDIA Protocol ecosystem, e.g., to pay for access to content in the form of paywalls of subscriptions. Tokens can be used across any apps that adopt MEDIA Protocol.
MEDIA Protocol acknowledges that the consumption of content by ordinary people is currently managed through proprietary algorithms and a small number of centralised platforms, and that the flow of data from these platforms to the parties who make content is limited. It also recognises that the experiences of ordinary audiences are worse as a result, because the brands and publishers who make content are either forced to rely on clickbait or expensive paid media campaigns to reach audiences.
MEDIA Protocol will create a new layer of direct economic incentives between key stakeholders within content ecosystem. MEDIA Protocol will provide developers, brands, publishers, influencers, content consumers, etc. the opportunity and incentive structure to interact in ways that are not permitted by centralized content distribution platforms. In this way, the protocol does more than reward attention: it fundamentally enables a new set of relationships between important parties that already want to interact with one another in more efficient and rewarding ways.
A New Economy for User Data
Incentives for the Transfer of Useful Data - Audiences are currently not rewarded for the useful data they share with centralised content distribution platforms, brands or publishers. Using MEDIA Protocol, audiences can receive rewards for a range of content interactions or by taking surveys that provide publishers and brands with valuable information.
Aid the Move to 'Direct-to-Consumer' (DTC) - DTC is an important goal for many brands trying to move away from relying on third parties, e.g., retailers, supermarkets, online merchants, etc. Through online registration forms, membership schemes, store cards, etc., these third parties have what brands do not: proprietary relationships with and data on the audiences that brands and publishers need to access. Through MEDIA Protocol, brands can now incentivise a direct relationship with audiences and access specific data on what content audiences want to receive.
A New Economy for User Payments
A System of User Appreciation - Beyond the payment of tokens from publishers to consumers in exchange for attention, audiences will be able to reverse this economic flow and send tokens to creators, influencers, publishers or brands in the form of a tip for creating or disseminating interesting content. This empowers smaller actors and community coordinators and rewards content creation. In this way, MEDIA Protocol further accelerates the dynamic flow of roles to create a better, organic and more balanced content ecosystem.
Make Paywalls Sustainable for Publishers - Through MEDIA Protocol, however, users will be able to generate sums of tokens from their interaction with promoted content and use these tokens to easily access content behind the premium paywalls and subscription gateways imposed by platforms, publishers and creators.
A New Content Ecosystem
Overcoming Fraud - Ad fraud is a significant problem, with reports estimating around 50% of clicks on display advertising come from bots, and Forrester estimating that ad fraud and non-viewable ads will cost the industry $10.9bn by 2021. This is expensive for brands and undermines publisher credibility. MEDIA will 3 reward content interactions from real people. It will also provide evidence of real engagement, creating new and universal metrics that can become reliable standards for the industry.
Removing Inefficient Intermediaries - Currently, a brand or publisher that is trying to reach an audience via a media platform spends around 60% of their budget to reach an audience via a centralised Media Owner. Through MEDIA, brands pay a small token fee and incentivise the direct actions they wish to achieve, whilst still having access to the wide range of platforms that audiences spend their time on, thereby reducing costs for brands and publishers.
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02 Jun 00:00 UTC
Digital Future Council (DFC): Partnerships