MEDIA Protocol offers a new way for online media to connect with the target audience. They have created an environment that is beneficial for all the parties involved. The central idea behind the project is that the content creators, publishers, promoters, and the end users should all get fair compensation for what they do. How is this possible?
Using apps that integrate MEDIA Protocol will allow the publishers to promote their content directly to the consumers. Each piece of original content is represented by an URL. Once they register the URL, publishers can allocate any amount of the platform’s native currency, MEDIA tokens, to reward the users who interact with their content.
Furthermore, the publishers can tailor the reward system to their specific needs. For example, they can choose what kind of interaction they want to reward the users for. Publishers can offer incentives to consumers for simply watching a video or reading an article, but they can also choose to reward the users who share the content, or those who record their preferences.
The MEDIA Protocol platform brings something completely new to the end-users – the possibility of monetizing the value of the data they provide to publishers and distributors. They will receive micropayments in MEDIA tokens when they perform various actions on the platform. They can later use these tokens for in-app purchases or premium services. MEDIA tokens will have real value, so it will also be possible to exchange them for other cryptocurrencies.
Furthermore, MEDIA Protocol gives users the power to control what happens with their personal data. The platform will record data about user behavior in order to provide valuable insights to the publishers. Even though the recorded data is personal, no one needs to know who it belongs to. Users don’t have to reveal their personal identity. They just need to provide their MEDIA token wallet address.
The concept MEDIA Protocol is proposing definitely makes sense. Today, big social media networks and search engines are harvesting valuable data about the consumers, but they are the only ones who benefit from this. MEDIA Protocol aims to decentralize the whole process and make everything much more transparent. Content creators could get valuable feedback about what their audience wants. Equipped with data they need, publishers could now create content designed specifically for small but passionate communities.
Furthermore, the blockchain makes the exchange of value much more comfortable for all of the parties involved. For example, paying for premium content would be much simpler for the consumers. Publishers, on the other hand, could generate more profit. For example, paywalls generally don’t work because consumers are baffled by login information, credit card numbers and other data they need to provide. With MEDIA Protocol, all they would need is one click to make the payment using their MEDIA token wallet.
All of this sounds good, but the MEDIA Protocol project is only starting to develop. In order for the platform to work, it will need to acquire a large user base. It’s too early to say whether this will actually happen.
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