As we all impatiently wait for Web 3.0 and all the thousand-and-one predicted innovations it’s expected to bring us – we sometimes forget that part of the technology behind it, blockchain, is already with us and delivering new and exciting innovations all the time. From providing new applications for the banking, energy, legal sectors and beyond – blockchain as a technology is still very much in its infancy, and Web 3.0 is just another one of many innovations that stems from it. About blockchain technology, the best is yet to come.
A media revolution
One industry that is just beginning to benefit from the power of blockchain is the media industry. For the last two decades, digital technologies have transformed how content is produced and distributed. This digitalization of the industry improved both the quality of the content produced, and the speed at which it could be distributed. However, this transformation also came with its challenges. Content could be easily copied, published and distributed over the internet, with its creator losing out on both recognition and income.
In addition to piracy and outright theft of their intellectual property, artists and creators must contend with multiple distributors looking for their share of the profits. With the big studios and Tech Giants creating the rules and dictating the terms, artists and creators need to toe the line or face being demonetized or even canceled. Blockchain can offer solutions to many of these problems, and one company believes it has resolved all of these and more.
A company named Mediacoin has just created a new blockchain-based platform specifically for artists, creators and influencers to rival the likes of YouTube, Instagram and other widely used social media channels. However, unlike its competitors, Mediacoin does not dictate the terms and allows the creators complete artistic freedom, with no community guidelines or corporate rules. Instead, the company allows creators total control over what they publish and has no limits on when and how much they can earn. Finally, audiences can hear the real, unfiltered voices and opinions of those they follow.
The company’s CEO, Sergey Sevantsyan said, “This is a space where creators can truly express themselves and earn new streams of income that simply isn’t possible on other platforms”. Interestingly, there is no advertising allowed on the Mediacoin platform – therefore, there are no popups or annoying skip ads buttons to click for the audience to deal with. As a blockchain-based platform, creators are now presented with new ways to earn, and are no longer slaves to the big brands and advertising companies.
New ways to earn
One of the most lucrative opportunities for social media stars and artists on Mediacoin is the ability to create and sell their own NFTs. With a current market value of more than 18 billion US dollars, the NFT market has grown into a massive market over the last year, and it’s the artists and creators who are cashing in on its popularity. Mediacoin offers a dedicated NFT marketplace for users, where they can sell their own products and even have NFT products created for them with its own turkey service.
In addition to NFTs, creators can sell subscription services, monetize streams, and sell premium content downloads. And this is only the beginning. Mediacoin is based around a cryptocurrency, and an entire crypto ecosystem has been developed to connect the crypto world with the real world. Users of Mediacoin can also buy, accept payment and trade in cryptocurrencies, with the company providing users with free training by industry experts.
Uniting the crypto world with the real
The company’s website states, “We strive to create an ecosystem that will unite the crypto-virtual and real world. A system that will change the scenario of the current business model for online content, making it more efficient, cost-effective and fair for both media content representatives and consumers of media content.” And Mediacoin is going all-out to make this statement a reality.
Alongside the NFT marketplace within the ecosystem, there is another marketplace where users can start any type of business and sell goods and services. And to facilitate this and make things easier for users, Mediacoin has developed its own crypto debit card, which can be used to pay in both fiat and cryptocurrencies. Thus, users can do all the things they do in the real world, like shopping online and buying gas as well as buying in the virtual world.
In June 2022, Mediacoin plans to launch “The Mediaverse”, its own metaverse where celebrities and creators can hang out, relax, or even sell goods and services to their followers and each other. The opportunities for influencers and stars to increase income here are endless, with the sale of NFT’s alone expected to run into millions of dollars. Here, followers will have the opportunity to meet and interact with their favorite stars wearing 3D virtual glasses. They can dance, play games, and who knows what else? Like blockchain technology itself, we can only imagine the possibilities the metaverse will deliver in the years ahead.
Mediacoin has grabbed the attention of famous influencers and celebrities around the world. The platform has already attracted more than 60,000 users and is growing fast. By offering users a myriad of advantages over traditional platforms, Mediacoin is redefining and putting the “social” back into social media. It will be interesting to watch Mediacoin’s journey because this company is fundamentally changing the way we will all interact with content creators and social media in the future.