The Most Interesting Media Startups on Blockchain
Although many people associate blockchain exclusively with cryptocurrency the technology is actually becoming very prominent in the realm of social media and entertainment. Take PUBLIQ for example, we are a blockchain-based platform that allows content creators to publish, while also ensuring reliable and quality posts that also compensate that authors.
Blockchain is increasingly being used in media in spite of the complexity of early adoption. Many contracts, middlemen, and confusing procedures often discourage creators from utilizing the technology in the first place. However, blockchain-based systems can provide many benefits. Some of the most notable are better visibility for authors that is made possible because of transparency in how content creators are rewarded and valued within the PUBLIQ ecosystem. In short, blockchain allows for a comprehensive record keeping of who publishes what content and how that person is rewarded.
Now, we will delve deeper into the world of blockchain-based media and explore some of the most interesting startups changing the media industry as we know it:
Founded in 2016 by Matthew Iles, Civil is a blockchain-based startup that has plans to change the whole sphere of online journalism. Its main goal is to stop content from being stolen and they have partnered up with the Associated Press to help track the movement of their articles via an innovative licensing mechanism. Already boasting a large number of newsroom partners, Civil is continually working on perfecting the licensing mechanism. They have already raised over five million USD.
CEO Matthew Iles himself is passionate about the importance of credibility in journalism and has stated that all journalists should be provided ownership of their articles. Likewise, he wants to restore trust in the institution of journalism by using innovative methods to fight fake news.
Founded in 2012 by Thomas Olson, Vevue is a video app that released the first Blockchain-based romantic comedy “No Postage Necessary” earlier this year. Instead of paying for content using dollars viewers pay via tokens. The start-up plans on fighting online piracy by providing clear identification of people who own protected content as well as providing the video owner better security via assigned unique IDs. Vevue then uses this unique ID to browse the internet for pirated copies and shows the owners where copyright action might be necessary. In terms of further development, Vevue has recently partnered with Manchester-based alternative music duo LUH (Lost Under Heaven) to allow fans to request video content from the artists using tokens from the system.
Launched earlier this year by UK-based DJ Gareth Emery, Choon is a blockchain-based music streaming service already competing with companies like Spotify. The main aim of Choon is to fairly reimburse artists while also allowing listeners to make a profit via monetized playlists. Both artists and listeners are paid via the Etherium blockchain using NOTES – Choon’s unique cryptocurrency. NOTES maintain their value when transferred between artists and fans and avoid the traditional cost of using a middleman. Artists can upload tracks and get paid based on the number of times a song is streamed. Likewise, as mentioned above, listeners can create monetized playlists and also receive compensation via NOTES. Choon is growing rapidly and already has an established community of thousands of users – uploading, streaming and sharing.
Above are just three examples of Blockchain-based services using emerging blockchain technology to innovate traditional media structures. Although the environment is very new and the technology confusing to many people, content creators and readers/viewers/listeners are beginning to see the vast benefits of blockchain-based media.
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