Facepower Asset Chain (FAC) Releases Blockchain Idol Star Producing Ecosystem
Facepower Asset Chain has launched an idol creation platform built on blockchain. The goal of the product is to ensure that investors and idols can carry out their activities in a secure and transparent manner.
Investments related to idols can now enjoy transparency and fairness in the eyes of the public. The decentralized platform will generate revenue and comply with set regulations in an efficient manner. In the traditional entertainment industry, an idol is created by the general public. Fans are given the power to vote for their favorite idol through texting or sharing their opinions online.
From the number of votes gotten on these shows, it’s clear that millions of people are crazy about the making of an idol. Billions of people also view these reality shows on social media and it’s common to find people circulating snippets of these shows.
Utilizing blockchain technology to decentralize the manner in which content is distributed will not only reduce the transaction costs but will also help resolve some of the issues plaguing the entertainment industry.
There are various components of Facepower;
Facepower Asset Exchange –
The platform is a pioneer in the digital exchange of rights investments, transactions and pledges. The exchange provides a fully automated system that allows investment in idols.
Smart Contract Counter –
The smart contract is designed for settling transactions on the Facepower Asset Exchange. The counter is loaded with blockchain smart contracts and will allow for transactions done on FAC to be settled intelligently. Income generation is also done in a secure manner and in compliance with the set regulations.
Decentralized Service Agency –
This platform allows idols, producers, distributors and all stakeholders to operate in a manner compliant with the FAC rules. The DSA system allows for the transparent and fair allocation of the income generated. The issue of dual contracts and an income that’s not transparent have been an issue in the entertainment industry.
All in all, FAC ecosystem will transform the idol business and help scale it to even greater heights. The team is willing to forge ahead and continuously work towards a better model in the idol business.