Digital media monetization is currently the biggest and most effective way that content creators and owners are able to capitalize on their holdings, but the industry is currently plagued by a number of issues.
More than 90% of content consumers admit they skip ads when possible, and with more than 600 million ad blockers currently in use, monetizing content through advertising is becoming increasingly difficult. Users currently have no incentive to watch ads, which makes direct advertising through content ineffective.
Advertisers and brands are not the only ones losing out in the currency content monetization paradigm. Content sales and rental platforms suffer from high platform fees and high middleman fees, and are unable to set their own pricing.
As a result, content piracy has become endemic. Consumers, perceiving that the currency content distribution paradigm is unfair and excessively expensive, turn to piracy, resulting in billions of lost revenue every year.
A new blockchain based platform aims to change this paradigm by introducing an innovative and disruptive system that allows users to create their own “zones” in order to sell, rent, or stream content. In this article, we’ll take a look at the Rhovit platform and find out how it works, as well as examine the particulars of the upcoming Rhovit initial coin offering.
What Is RHOVIT?
Rhovit is a new blockchain platform that is designed to alter the current paradigm of content distribution. Intended to operate as a decentralized economic ecosystem that facilitates the generation of value from user actions, Rhovit aims to distribute value among the community that uses it by providing complete control over content distribution and pricing.
How RHOVIT Works
In addition to providing content creators and owners with the ability to set their own pricing for content distribution, Rhovit also provides the Rbit, which is a crypto asset that can be mined in accordance with activity on the Rhovit site in order to ensure a constant stream of incentives and spending.
The RHOVIT ICO
The Rhovit platform intends to operate on a circular economy that is based on Rbit mining. Users will create value transactions on the Rhovit network in order to “mine” Rbit. For every set amount of value transactions, 1 Rbit is mined and distributed on a weekly schedule.
The impending Rhovit ICO will release 180,000,000 Rbit, 90,000,000 of which will be mined on the Rhovit platform. Rbits will be available for purchase with ETH during the crowdsale, with the price of each individual Rbit set at between 140 to 180 Rbit per ETH- the specific amount will be announced closer to the launch of the ICO.
Of the total amount of Rbit, 40% will be reserved for development, while 20% will go toward marketing and 20% to operations. 15% will be reserved for user incentives, while a final 5% is reserved for legal issues.
The Rhovit platform is an innovative approach to the content distribution industry and, if successful, could prove to be a significant paradigm shift in the way content is sold, rented, and viewed.