Blockchain, Use Cases

Start a Blockchain powered Media Streaming Platform

current - digital media

The blockchain based media streaming platform is an incentivized platform. It has its own digital token that it uses to reward its users. The users who are part of the platform can use the tokens to purchase exclusive content etc.

Did you know? The platform not only makes it easier for the users to consume media but also rewards them for it. The platform rewards its users for their time, money spent and the data shared during the media streaming experience. You can stream your own media or any of your favourites from media sharing platform likes YouTube, Spotify, SoundCloud etc. and get rewarded for every your every action on the platform. The token-based platform makes the new generation media streaming hub which consolidates the best content and features from various popular sites, all-in-one place. The platform with its token also facilitates ad purchases.

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[item title=”Why should you start a Blockchain based Media streaming platform?“]

The blockchain technology offers amazing Consumption of streaming media by users has grown in the recent years. People paying for consuming streamable content look for original content on any platform they choose to subscribe.

Blockchain technology and Interplanetary files system offer a distributed infrastructure so that anyone can start a Media streaming service with the platform at a fraction of the cost.

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[item title=”How to Monetize your Media Content on a Blockchain Platform?“]

Tokens are awarded to everyone on the Platform who directly or indirectly becomes a part of the network expansion. Every time a token gets paid on the platform it is split amongst everyone in the community, like the consumers, creator, curators and the referrers. The token is built to reduce or completely eliminate subscription costs which are a normal digital media consumers’ nightmare while using other media platforms. The tokens can be exchanged for various other cryptocurrencies and vice versa.

The platform is an evolving Universal Media Platform that is being built in a hybrid fashion. It is constructed with both on-chain and off-chain solutions to accommodate shifting market dynamics in the blockchain, media and crypto industries. The Build stages are termed Traction and Scale, where the former is solely focused on sourcing content from third-party media platforms and this helped build a strong foundation for the product. The latter build stage involved generation of a protocol and a token. The protocol records a user’s transactions and this valued contribution triggers a smart contract which in turn rewards the user with the tokens. This modus operandi helps shift benefits from advertisers and intermediaries to people who are playing, creating and curating media.

Tokens spent on the platform can be categorized into the following causes:

Services

Users can use tokens to pay for services consumed inside the media streaming platform’s app. These services include Ad-free streaming, memberships to premium networks that it integrates with and more

Donations and Payments 

Promising growth confirms that these tokens can be spent on goods or services which will be made available on the platform

Advertisers 

Advertisers looking to advertise their business on the platform have to acquire tokens in order to spend it on promotions and other campaigns inside the network

Future Applications 

Increase in the number of users possessing the CRNC tokens leads to a new translatable cryptocurrency which becomes valid for uses outside the platform too

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[item title=”What are the Features of a Blockchain Powered Media Streaming Platform?“]

Limitless content hosting and accessing the content libraries from multiple services through APIs (Application Programming Interfaces) which are set of routines, tools or protocols that govern the interaction of software components

The blockchain powered media streaming integrates with the external media networks to meet the demand for the popular media

Most of the block-chain based or crypto-enabled services involve a lengthy registration process, investments, and hardware constraints on mining. But the media streaming platform makes it easy for its users and also encourages them by immediate rewarding

It removes all the technical complexities associated with the adoption of cryptocurrencies

The media streaming platform has a proprietary recommendation algorithm helps users to understand the content and make choices quickly. Because the algorithm’s Content-based and Collaborative filtering nature helps refine results according to user’s interests

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current - digital media

Frequently Asked Questions (FAQs)

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[item title=”What is a Blockchain?“] The blockchain is a network of nodes (devices with an internet connection). It is a distributed and decentralized ledger technology which was re-introduced to support transactions of a digital asset called Bitcoin cryptocurrency. Now blockchain is used by many industries to implement their online businesses on a trust network like blockchain which keeps track of every single transaction and thus will eliminate redundancy, or duplication. [/item]
[item title=”Who are Curators, Consumers, and Referrers?“]Consumer

The person playing the media and paying for the subscriptions as long as the media platform is concerned

Curator

The person bringing the content into the network from an external media source or the one who organizes the playlist

Creator

The person or group responsible for the content being played/ shared

Referrer 

The person who brings in consumers onto the platform [/item]
[item title=”What is Growth Pool“]The pool of tokens that ensures liquidity and proper supply in the total token supply pool[/item]
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