How is the Independent media supposed to take advantage of all the new possibilities presented by the blockchain and smart contracts? It’s all fine and dandy for me to bloviate about how awesome these technologies are, but what’s the point if it isn’t able to filter into your bank account?
These blockchain powered platforms are tools for the Independent Media to leverage, but they have to know where to apply the tool before it will do them any good. And to make matters even more muddled, there are dozens of blockchains and cryptocurrency out there attached to the media sector. Which, if any, are right for you to explore? Here is a 101 breakdown of the options you have at your fingertips;
Steemit is the the OG social media and attention based blockchain, so this is where we’ll start. This is a tool focusing on the Attention Economy. Posts collect up-votes (currency) for a week and then distribute those funds to the authors and curators.
A top notch option for daily or weekly shows with a running theme and continuous supply of new content or discussion. Not the best spot for content needing to be monetized for longer durations. Community involvement is key on this platform and the internal currency and platform token offer unique ways for the audience to support their favorite authors while generating income on their capital investment.
Viuly is the next blockchain based project in this area which currently has a working product. This video platform is similar to Youtube, video creators and audiences earn coins for their contributions and creative content. But it’s fueled by smart contracts so your slice of the pie is much bigger. This is what happens when unhelpful middlemen are taken out of the equation…
This project is based out of Estonia in Eastern Europe, but the platform works well for English video creators, audiences, and advertisers also.
Bit.Tube is another option built in the New Economy to challenge Youtube’s video sharing and earnings model. The Bit.Tube platform stores video files to IPFS and can connect directly to existing youtube channels to conveniently migrate your existing content. The platform uses cryptocurrency mining software which is powered by viewers excess computing power to generate earnings for the content creators.
There are plenty more options being actively developed and close to producing working platforms, check back here for updates and new insight into how the Independent Media can leverage the New Economy to monetize their content.
Coming soon……. (CREA) CreativeChain / Minds.com / Yours.org
The CreativeChain platform is live and functional. As soon as I’ve experimented with the software enough to have an meaningful opinion about it I’ll add the relevant information here.
For a quick walk through of all three platforms and the video upload process check out this walk-through;