How StarChain Plans to Revolutionize Entertainment Industry
With the boom in the entertainment industries, most artists are looking for a new way to reach new audiences without losing rights over their intellectual property (IP). The use of blockchain has come up as an alternative for these emerging issues in the rights protection.
One such venture is the global digital asset chain in the culture and entertainment industry is StarChain. The platform plans to provide its members with copyright marks, global IP equity exchanges, content platforms and distribution of IP derivatives. The public chain will service together with developers and traders who plan to invest in the IP asset exchange.
The StarChain STC ICO Token
The StarChain platform expects to put out 1 billion tokens for its project, The Starcoin token or SCC will be the primary medium for use in Digital Asset allocation, transactions, and payment of royalties on virtual assets.
The initial distribution plan will include a 50% issue placement, with 30% going to angel investors and 20% for public crowd safe. The first round will see a distribution of 5% and 15% at a later date for the second round. Everyone can take place during the public sale. However, U.S and China residents are not eligible to participate in the auction.
A further 30% of the tokens will go into subsequent maintenance and development of the StarChain ecosystem. The share will go to use in marketing, eco-hatching
Business development and legal compliance. Also, a 20% share will go to rewarding the research and development team, with a distribution of 4% and 16% later.
There are potential areas where StarChain can be useful to most of us. First off, StarChain is set to offer a more accessible content production platform for the audiences. The platform plans to do encourage this through the Realization and Starcoin incentives programs on offer. Whether a writer, producer or actor whatever content you put up, you can earn from it according to the number of views and shares.
Moreover, a great deal of StarChain will focus on IP asset management. Through their IP asset management platform, StarChain will be able to issue rights protection on content generated, infringement monitoring and acts as a copyright registration service.
Also, StarChain is a viable platform for content aggregation and distribution for upcoming artists, actors or producers. That can go a long way in promoting the culture of quality content creation for most audiences.
Much of this will rely on the use of IP big data to match audience to the most preferred content. The infringement monitoring service is an additional feature which will depend on StarChain's highly –efficient right protection in infringement monitoring service.
Final Thoughts Regarding StarChain STC ICO
Whereas the Chinese Entertainment industry can beat the Western market, the content production sector still has a long way to go. First off, the culture is still conservative, most of all led by the government.
On several occasions, authorities have banned artists, films, and shows they deem too controversial or sensitive. That can negatively affect the stock of StarChain who rely on such events and personalities to make an impact.
However, the capabilities of StarChain are there, and as one of China's entertainment companies, the platform could have more in store for us. All-in-all, the project is at a slow pace, and we are yet to see any worldwide effort.