Most online platforms are centralized and they have become the main option for consuming content as the subscription-based market continues to grow rapidly. However, the use of these platforms does come with a few challenges, which include the high commissions, unreliable licensing costs and exploitation of user contributions.
Contents Protocol now offers an opportunity to remedy all these issues with its decentralized platform that is designed to connect content creators and users together.
How Contents Protocol Blockchain Content Exchange Works
The current online platforms are enjoying robust, sustained growth because users are consuming the work produced by peer content creators. Nevertheless, despite playing a critical role in improving the success of these platforms, most content creators are only given a very small percentage of the profits. Additionally, there is no transparency in revenue distribution among different stakeholders within the platform.
Contents Protocol intends to revolutionize this sector and ensure content creators earn enough money for their work. This decentralized platform will keep less than 10% of the license fees, which means that content creators can earn up to 75% or more. End users on the Contents Protocol will also be rewarded for their role in consuming the content, which guarantees that all the respective shareholders are benefiting from this ecosystem.
The project is already in an advanced stage and it is the product of WATCHA, a high-ranking media company in the Asian market. WATCHA already has extensive licensing deals and contracts with more than 50 top content providers, like Disney, Sony Pictures, BBC, Fox Network and HBO among others. To improve adoption rates in the early stages, Contents Protocol will offer support for all fiat currencies, with a small percentage of total content sales being converted to CPT tokens.
The first notable online content that is designed to integrate into the Contents Protocol platform will be the transactional VOD service called Watcha TV. It will be a paid subscription service where users can watch high quality content and get rewarded for their time. Other noteworthy subscription-based services expected to be launched on Contents Protocol include subscriptions for accessing music, eBooks and various other types of media.
Contents Protocol CPT Tokens
The Contents Protocol platform will include two distinctive tokens, CP Power and CPT tokens. These tokens have a 1:1 conversion ratio, but there is going to be a one-month lockup period after making any conversions. The difference lies in how the tokens will be utilized.
CPT tokens are designated for making payments on Contents Protocol, as well as for trading on crypto exchanges. Users will use CPT to buy content or subscription services within the marketplace, and it will also service as the payment currency for all content creators. In contrast, the CP Power token is intended for network staking and helping to grow the network.
Opportunities For Contents Protocol
- End users can earn CPT tokens for doing specific actions like sharing or rating.
- WATCHA is a well-known company in the Korean video streaming market.
- The video streaming market is massive and it is growing very rapidly.
- The CP Power staking mechanisms encourages strategic holding of these tokens, thus providing stability to token prices.
Contents Protocol Conclusion
Content Protocols is beneficial for both content producers and consumers, which are largely made up of millennials in Japan and South Korea. This marketplace is already very receptive to cryptocurrency usage and the platform should have an easier time launching their ICO.