What Is Piction Network?
The Piction Network is a blockchain based peer-to-peer digital content ecosystem that aims at revolutionizing the digital creation industry by returning power back to content creators. The platform seeks to achieve this by transforming how the current centralized models of content ownership, distribution, and monetization work.
The Piction Network will ensure that all the participants in the ecosystem will co-exist, resulting in the growth of the digital content market. Furthermore, the network will eliminate intermediaries from the market and in doing so, enable content distributors to receive more revenue from their content.
How Piction Network Digital Content Creation Platform Works
The Piction Network ecosystem consists of content creators, content distributors, consumers, and community supporters who utilize the PXL tokens to create and consume content, which subsequently results in value creation on the network.
On the Piction Network, content creators will have the choice of their preferred monetization model. There will be no intermediaries in the transactions meaning that the content creators will earn more for the content they publish on the network while ensuring that they receive consistent income because the payment settling process will be improved.
Content distributors create the infrastructure that enables consumers to access and purchase the digital content. To ensure that there is fair competition among the stakeholders on the ecosystem, the Piction Network council is responsible for governing the ecosystem and facilitation of the ecosystem’s growth. The ecosystem also has reporters who report content that contains plagiarism and vulgarity. Some individuals on the ecosystem could hold more than one role, for example, a consumer could also be content creator at the same time.
The Piction Network runs using the Pixel token (PXL), Picture token (PIC), and the Element token (ELE). PXL is the ecosystem’s utility token and users can use it to pay for services on the Piction Network and as a means of accessing features of the network. PIC token is used by community supports to sponsor content creators while the ELE tokens are used as an incentive to encourage more people to join the network.
Piction Network Advantages
Creator Oriented Revenue Distribution
The Piction Network focuses on the content creators where they will have an opportunity to receive more revenue for the content they create. On the Piction Network, there are reduced entry barriers, which make it easy for both content creators and digital content platforms to sell their content. There are also lower administrative costs that results in a higher revenue distribution rate.
All the transaction on the Piction Network are recorded on the blockchain, there is transparency and accountability on how the revenue is distributed therefore creators will have the guarantee that they are receiving the fair share of their earned revenue as they will receive full data on the sale of their content.
On the Piction Network, there will be community supporters who will provide content creators with support in various methods including marketing and translation and in return receive a share of the content’s profits. This will result in the growth of a community of content creators who did not have any opportunity to publish their content before.
The Piction Network has a decentralized ecosystem that is self-sustaining due to its incentive program and competition governance that ensures all stakeholders maximize on the ecosystem’s value.