A Cryptocurrency for the New Age of Content and Virtual Reality
Currently, YouTube stars make money via two strategies: ads provided by YouTube/Google that play before or during the video, or via direct corporate sponsorships who have their brand or products incorporated in their video - often discreetly. While the latter has its own system and only affects the heavy hitter channels, the former is handled entirely by YouTube and could be improved.
by utilizing a smart contract by a blockchain network, an advertiser could set out pay-out to viewers, curators, the platform, and the content creator programmatically. The technical advantage of blockchain is that advertisers could create contracts that execute on a cross-platform basis without the hassle of complex money flows. Instead, since the value of the contract will be directly woven into the many players of this attention economy, creating, distributing, and executing such contract will be simple.
There is a company that is making headway into this concept: Spectiv VR.
The way it works is fairly straightforward: advertisers will sell Signal Token’s - the digital currency - for a set rate, currently just 50 cents, to content creators that attach it to their content. Signal Token’s will have a preset smart contract that any utilization of it, on any platform (YouTube, Vimeo, etc.), will generate value to the content creator for the provided attention.
How does the content creator, curator, and viewer get paid? The value of that specific token increases when videos by that content creator get views. If a content creator buys a token for 50 cents and that video reaches 1,000 views, then that token is worth $1.50 in the system. Each part of the system, including the platform, curator, and viewer will get a piece of this contract, with a grand amount going to the content creator.
Spectiv VR is launching their pre-sale December 8th to fund the currency.
See the full story here: https://www.huffingtonpost.com/entry/a-cryptocurrency-for-the-new-age-of-content-and-virtual_us_5a19cad3e4b068a3ca6df844