Blockchain and Monetization of Content 347

The Promise of Ethereum

Ethereum, the leading blockchain platform, and catalyst for a growing number of decentralized applications and blockchain-based platforms has proven over the past 12 months that it is far from a fad. This immutable, unhackable, distributed database of digital assets is everything the Internet always wanted to be: a fair and public way to store and transfer information. This is a platform for truth and it’s a platform for trust.

In the music industry, the protection of rights and distribution of earnings within the music industry is a key consideration. Removing the ability for piracy and allowing listeners to download music stored on the blockchain, paying for the music with cryptocurrency would be one of the paradigm shifts. It would also mean that the right people get paid.

This challenge of monetizing content is also prevalent in the broadcast content industry. Ethereum Blockchain with smart contracts makes for a perfect solution.

Pain Points for Content Creators

The industry has not changed in over 80 years. Today, it continues to be a largely offline and extensive process, involving multiple dis-jointed parties – the creators, the owners, the distributors, the increasing array of formats (eg. mobile, free-to-air TV, cable, OTT, cinemas, etc) and then there is a global consumer base with differing interests and language preferences.

The whole ecosystem today is highly fragmented and content creators are challenged to optimally monetize their content. Compounding the monetization challenge is the fact that content creators also face extremely high costs of distribution. Because the value chain is a cumbersome process for content to reach end viewers; typically 30% to 40% of the value of the content is being lost to cost of distribution via third-party commissions and fees. Hosting a conference booth and meeting events with champagne in the South of France at the Cannes Film Festival is no cheap affair.

To give some context on the potential value of a piece of content, let’s take well-known franchises like “Game of Thrones” or the “F1 Series”.   These projects can be sold in 193+ countries via free-to-air, cable, satellite and streaming mobile platforms, that is, it can potentially be sold 600 different ways once you factor language and territorial configurations.

An “A” list project can potentially earn millions of dollars via such a syndication, however, a lesser known title is lucky to be sold in 10 countries and monetized in 10 ways. Hence the potential to optimize the value of this content is at least 50 times more for the content creator if they can easily monetize their content across the various permutations.

The chief pain points of content sellers are:

  • Rights are tied up for the long-term (average 2-5 years) in distributor exclusivity contracts
  • Distributor fees are significant; averaging 35% of the value of the content
  • Rights are typically sold in bulk with other content which limits differentiation for content creators
  • The multiplicity of currencies and the vagaries of the fluctuating exchange rates
  • Content ages very fast and becomes less attractive to distributors to market

Such problems, which appear daunting are actually very easy to address, provided you have a global platform and a globally trusted ledger. Enter Ethereum Blockchain.   

Pain Points for Content Buyers

Content buyers purchase rights to play the content on their own networks and channels, such as Netflix and cable TV channels like Sony. The buyers also face a host of problems:

  • The content discovery process is fragmented and manual
  • Delayed verifiability of the rights
  • Limited by distributor’s rights options
  • Bundled rights instead of customized selection

As we can see, these problems can also be solved by implementing a global platform and a globally trusted ledger. Thus, Blockchain is not an add-on, but a natural solution to the problems faced by the content rights industry.

Existing Solutions

There are companies operating traditional marketplaces for trading content rights today; like RightsTrade (2011), TRX (2015) and AllRites (2015). With the advent of the blockchain, we are starting to observe the emergence of companies like Hubii Network, LiveTree, and AllRites exploring the use of blockchain to democratize content.

In the case of AllRites, the company was established by media professionals with decades of experience in the industry. Being intimate with the distribution challenges, they are proponents of blockchain and are moving their existing marketplace onto the Ethereum Blockchain.

But they are not stopping there, the AllRites vision is to create an integrated B2B and B2C ecosystem to holistically support the overall industry. Built on Blockchain technology, the AllRites ecosystem will drive trade efficiencies between content producers and buyers globally, facilitate funding of creative ideas and offer direct streaming to end-customers. Two associated B2C platforms will complement their existing marketplace – RiteFund and RiteStream. For consumers, these platforms allow individuals to directly support and benefit from creative concepts that they believe in.

With RiteFund, the platform facilitates content creators to list their projects and allows prospective contributors to help get a project of their choice off the ground, like Kickstarter, but with infinitely more transparency in rights management and benefits sharing thanks to smart contracts.

RiteStream is for content owners with unsold rights to optimally monetize their content via direct streaming to a global viewership base. The smart contracts seamlessly manage viewers, rights availability and revenue sharing in the backend. For example, an OTT player, like iFlix, may purchase rights to showcase a piece of content in only 30 countries, with RiteStream that same piece of content can potentially be monetized in the remaining 163 countries by direct streaming, if viewers are interested in that content. View RiteStream like the “Spotify” of TV, Movies and Sports content.

For esoteric sports like, Extreme Sailing – they have ardent fans globally but such a sport is very niche and unlikely to garner support from mainstream broadcasters. With RiteFund, fans of Extreme Sailing can directly support creative talent who are also passionate about their sport and who are creating great content about it. These same creative talents can now monetize their content by streaming it directly to the Extreme Sailing fans globally via RiteStream.

Blockchain Technology Deployed

The team at AllRites believe that if the content itself can be reliably audited, the management of its rights becomes a much simpler exercise. Thanks to the Ethereum Blockchain, each ID can be a smart contract that manages the identity and purchase history of the rights belonging to one piece of content at an individual level. Thus, the rights can be sliced and diced in multiple ways and the buyers can buy only those rights which they need. The smart contract tied to each content piece records the transaction history of that content piece individually in a transparent and immutable manner.

While the content rights can be viewed by all prospective buyers, the sellers can be assured of optimal monetization due to the plethora of ways in which the rights have been divided into.

The ID tied to the content can be managed by creating a non-fungible token. It could be similar to the EIP721 protocol that was famously used by CryptoKitties. Thus, the sale and purchase of content rights can be recorded on individual non fungible tokens without affecting the entire ecosystem.

A global fungible token that adheres to the ERC20 standards can take care of the sale and purchase aspects of the deal. To ensure trust, AllRites will be storing the content as decentralized encrypted files which can be unlocked only by a private key.

On successful completion of a sale, the seller sends the private key to the buyer while the buyer transfers the payment tokens to the seller. As an added layer of security, the key and the tokens corresponding to the bid made on the content rights can be placed in an escrow. Once the sale is finalized, a smart contract takes over and governs the transfer of the private key and the tokens to the new owners in an automated manner.

Regarding the case of content creators with unsold content, the RiteStream platform caters to them. Here, the platform becomes the universal global distributor of the rights that went unsold and streams it directly to the viewers in exchange for tokens. In this case, content creators get a platform like YouTube, but with an infinitely better monetization potential.

It has also been seen that content creators, despite having amazing ideas, often struggle to get their plans off the ground due to lack of funding. Consumers are robbed of potential gems. In the music world, its analogues with the likes of Justin Bieber and Carly Rae Jepsen being discovered via YouTube.

With Ethereum, smart contracts can be implemented which facilitate the transfer of funds from fans and supporters directly to the content creators in an easy and trackable manner. Once the content is created, it is uploaded onto the AllRites Marketplace where content rights can be transacted. After subtracting for platform fees, all proceeds can be seamlessly transferred back to the fans/supporters corresponding to the ratio in which they were contributed.

Conclusion

Using blockchain and smart contracts makes the business of content rights deal making and distribution a lot less complicated and instantaneously verifiable. Blockchain takes care of the globally trusted ledger needs, the smart contracts take care of transactions by automating them.

This translates to tremendous efficiency gains for both content buyers and sellers. And, for owners of content, the age-old challenge of optimally monetizing their content is solved.

The added bonus is that in this new decentralized and immutable ecosystem driven by blockchain, consumers can finally have a direct say in what content they want to support and watch.

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Dreams Quest Partners with The Sandbox 4225

Quest

Metaverse – December 15, 2021Dreams Quest and The Sandbox, a subsidiary of Animoca Brands and the leading open NFT metaverse platform, are pleased to announce they have entered into a global strategic partnership, combining Dreams Quest’s industry-leading character development with The Sandbox’s expansive metaverse and next-gen technology.

With collaboration playing an increasingly critical role in every aspect of the metaverse and GameFi space, the companies recognize that they need to accelerate the development of cross digital solutions. The partnership brings together strategic skills in gaming, business and technology, that bring value to gamers and facilitate financial opportunities to more users.

“The Dreams Quest – The Sandbox partnership is a powerful combination. The Sandbox virtual metaverse allows users to create and play games within a game and has a collaborative approach that is uniquely complementary to the Dreams Quest ecosystem. We believe this partnership will help the GameFi sector bring mass adoption as the arena shifts to retail players looking for play-to-earn games,” said Paulii Good, Dreams Quest Co-Founder and CMO. “It’s also been wonderful having Sébastien Borget, the Co-Founder and COO of The Sandbox, as one of our strategic advisors.”

“The Sandbox open metaverse aims to be the place where NFT projects come to life and enable their community to create stories with their favorite NFT characters using our #no-code Game Maker,” said Sebastien Borget. “Dreams Quest provides a universe of heroic fantasy that will inspire all creators.”

As an indication of commitment to the partnership, Dreams Quest will be adding special edition NFTs of its high profile characters to The Sandbox NFT marketplace, starting with a voxel version of Dreams Quest’s frost giant.

By virtually connecting Dreams Quest to The Sandbox the collaboration creates an immersive and decentralized gaming experience where gamers are in complete control of their NFT cards while pushing towards a metaverse-based economy.

Quest1

About Dreams Quest

Dreams Quest is building the first-ever metaverse-based economy, a self-sustaining DreamsVerse where people will be able to participate in the decentralized play-to-earn RPG game using dynamic NFTs. Unknown factors will affect character attributes in-game, and post-game outcomes will dynamically change the NFT card attributes and write them on the blockchain (the ethereal scribes) to show game history for each card.

Discord: https://discord.gg/dreamsquest
Telegram chat: https://t.me/dreamsquesttavern
Twitter: https://twitter.com/DreamsQuestNFT
Main website: www.dreams.quest

About The Sandbox

In The Sandbox, creators and brands can build, own, and monetize immersive 3D worlds and game experiences on a virtual LAND they own. With The Sandbox’s play-to-earn model, every creator is free to share, trade, or sell their creations while retaining full ownership and revenue. To date, over 165 brands, such as the Walking Dead, deadmau5, Atari, Rollercoaster Tycoon, The Smurfs, among others, have built exclusive experiences. The Sandbox Alpha is live now, with full launch scheduled in 2022. For more information, please visit www.sandbox.game and follow the regular updates on Twitter, Medium, Telegram, and Discord.

Dequency Executes First-Ever Music Synchronization License Smart Contract on the Algorand Blockchain 3436

Music synchronization licensing marketplace, Dequency, has executed the first-ever sync license on a public blockchain. “Late Night People” by Goldfish ft. Soweto Kinch was licensed through Dequency’s SmartSync contract for use in Algorand’s Decipher conference, held November 29 – 30, 2021 in Miami, Florida.

Keatly Haldeman, CEO of Dequency: “Our vision for Dequency is to cut out the middle man in music licensing transactions so that creators maximize earned income and get paid immediately. By executing the first-ever on-chain sync license transaction, we’re one step closer. We made history today.”

Goldfish: “From the start we have always been about disruption and this is the best kind bringing musicians and producers closer to being able to earn income directly from their creations. Being part of the very first sync is a real honor and we cannot wait for the future as the music industry is in need dire need of technology like this to take it into the new realms of possibilities the blockchain presents.”

Dequency is built on Algorand, a blockchain that is known for its environmentally friendly “pure proof of stake” consensus mechanism. Initially catering to on-chain content such as motion graphic NFT projects, video games and metaverse productions, Dequency showcases recording artists offering their music to license and facilitates communication between the parties to foster community.

“We are thrilled that Dequency chose Decipher as the launch pad for demonstrating their new smart contract licensing for artists and all event music was licensed on chain,” said Keli Callaghan, head of marketing at Algorand. “Dequency is at the forefront of creating new blockchain-based economic models for creators and it is amazing to see history being made on Algorand in a way that truly benefits artists.”

About Dequency
Built with Web 3.0 technology and ethos, Dequency seeks to connect visual creators directly with recording artists and other music rightsholders and provide a simple, transparent, and fun licensing experience. With the ultimate goal to create a fully-decentralized, trustless music licensing marketplace Dequency provides creators income-generating opportunities with minimum fees and instant payment. Visit: www.dequency.io.

About The Dequency Team
Dequency was founded in early 2021 by music industry veterans Keatly Haldeman and George Howard with support from investor Mark Ross. Haldeman is a lifelong musician and co-founder and CEO of Riptide Music Group, a publishing company and record label specializing in the synchronization of music to picture. Riptide’s roster includes songs by artists such as Foster The People, Selena Gomez, Migos, Quavo, Big Gigantic, Black Flag, The Turtles, Goldfish, and Fatboy Slim. George Howard, JD/MBA is a distinguished professor of music business/management at Berklee College of Music. He is a founding member of Open Music Initiative (OMI), an open source protocol to increase transparency for royalty distribution. He is the former president of Rykodisc, the world’s largest independent record label, and cofounder of TuneCore, the world’s largest independent digital music distributor. Mark Ross is a music, film and concert producer, and a longtime entertainment business investor and entrepreneur with more than 35 years in the business of entertainment. As a music executive, he signed several multi platinum artists, most notably Pantera, and is responsible for the sale of tens of millions of records. The former Executive Director of Quincy Jones Productions, Ross has produced some of the largest and most successful live events in history.

About Algorand
Algorand is building the technology to power everything from the creator economy to the convergence of traditional and decentralized finance. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for anyone to transition into the new digital economy. The leading decentralized infrastructure of choice for visionary leaders across more than 1000 global organizations, Algorand is enabling the simple creation of next generation financial products, protocols and exchange of value. For more information, visit www.algorand.com.

Lydium Ecosystem Prepares for Financial Revolution in Agriculture Sector with LYD Coin 3585

LYD coin lydium

Lydium continues to expand its financial network, which continues to grow with new agricultural cooperative contacts and agreements every day. Lydium, whose ICO sales continue to be in demand on a global scale, aims to be a new ecosystem that includes the entire agricultural sector and LYD Coin to be a cryptocurrency used in the entire agricultural sector.

Nowadays, the share and strategic importance of the agricultural sector in the global economy has become more important than ever before. Despite the fact that the agricultural production around the world has increased nearly 3 times in the last 50 years, many agricultural products are insufficient to meet the demand of the constantly growing global population. It is seen that the biggest reason for this is that agricultural producers, due to financial problems, cannot reach the resources needed for production and technologies that will increase efficiency in production. Arguing that the solution to the financial problems in the agricultural sector is through a decentralized financial system, Lydium seems to have convinced the sector representatives and investors in this regard.

LYD Coin will be a cryptocurrency used in the entire agricultural sector

Lydium, which is the first project that brings DeFi to the agriculture sector, one of the most important sectors in the world, enables producers to reach the financial resources they need in a fast and easy way with the local currency LYD Coin. Lydium, which offers high-yield opportunities for investors and fast and easily accessible financing for producers by bringing together global individual and institutional investors and agricultural producers on the same platform, aims to solve the scalability and efficiency problems of the blockchain with its double-layered blockless distribution technology, and in this direction, aims Lydium Financial Network to be an ecosystem used in the entire agricultural sector by integrating the benefits and facilities of decentralized finance in the agricultural sector.

Lydium lyd coin

It is possible to participate in ICO via lydium.org with all cryptocurrency exchanges

Lydium, which has the advantage of being the first defense project of the agricultural sector and aiming to become one of the largest decentralized finance ecosystems in the world, investors who are interested in the Lydium Project, which continues its ICO 2nd Phase sales with high demand globally and offers high-yield opportunities to its investors by increasing its value in each phase, can buy LYD token by sending Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), TRON (TRX), Dash (DASH), and Cardano (ADA) via lydium org over cryptocurrency exchanges. You can also follow Lydium’s official Twitter account at https://twitter.com/lydiumorg to be informed about airdrop events and take advantage of airdrop rewards. Lydium, which is preparing to create a financial revolution in the agricultural sector and developing an ecosystem that includes the entire agricultural sector, is one step closer to its goal in every ICO stage it completes.

Vietnamese project DeFiHorse raises $5 million in private round 3680

DeFiHorse has raised $5 million in capital from several overseas ventures to produce a stunning horse metaverse project, in both gameplay and graphics, based on blockchain technology.

DeFiHorse announced the fulfillment of a $5 million private investment round on Dec. 7. The financing round was completed in less than a week, with the involvement of numerous well-known blockchain funds, including Exnetwork Capital, Poolz Ventures, BullPerks and Avocado Guild. DeFiHorse was formerly fostered by Coincu Ventures, one of Vietnam’s leading investment funds for significant blockchain initiatives.

DeFiHorse is one of the NFT metaverse projects in Vietnam that has received the most funding from a private round to date, at $5 million. According to the project’s spokesperson, the additional funds will be utilized to further develop DeFiHorse with the long-term goal of becoming a technology unicorn founded by Vietnamese and bringing promising blockchain technology closer to everyone.

“We intend to present to the world a high-end NFT metaverse in which everyone can own at least one NFT horse and horse farm. The player can proudly own NFT horses and farms just like elite people own horses in real life,” Mai Truong Giang, CEO of DeFiHorse, stated.

The success of DeFiHorse’s fundraising is not surprising. Before acquiring financing, DeFiHorse made a big splash in the community when it was led and mentored by several globally known advisers in the blockchain space.

Before launching DeFiHorse, Giang achieved many accomplishments. He was named a Forbes “30 Under 30” Vietnam honoree and has been the driving force behind the development of various companies. DeFiHorse is advised by Steven Nguyen, founder of Metub and Coincu; Hung Dinh, founder of Rada; and Duong Vi Khoa, vice president of the Vietnam Recreational eSports Association.

Unlike many other projects, DeFiHorse is building a metaverse in which users can own horses and earn income from competing, buying, selling or even breeding horses.

DeFiHorse is set in the year 2099. The horses are equipped with cutting-edge technology such as quantum technology, gene technology, artificial intelligence and space travel. DeFiHorse’s four distinct horse breeds are inspired by the mythology of Greek gods:

  • The Chaos: The game’s rarest horse breed, created by the big-bang explosion. 
  • The Titan: The toned-body horse breed made of scorching coals and fire. 
  • The Poseidon: The deity of the sea with endless ocean force. 
  • The Heroic: The earth and nature’s metaphorical god.

 

The form of the steeds is one of the most notable aspects of DeFiHorse. The NFT horse is depicted in 3D, both mythological and realistic. The horse prototype in the game is designed based on the Arabian horse, which has the best form globally and can run at a lightning pace.

Giang claims that all of the unique creations in the DeFiHorse realm are the work of young, talented Vietnamese individuals. Players may also let their imaginations run wild thanks to the game’s extensive customization options. Because of the nature of NFTs, each horse in the game is a different character and has unique strengths.

DeFiHorse is centered on races in which users may manage their horses and compete for distinctive rewards. To make the racing experience more appealing, DeFiHorse added a “tap to earn” function that allows users to engage genuinely with their horse to assist it in improving its pace compared with other rivals. The race outcomes assist players in earning different awards, increasing the worth of horses, thereby generating economic value.

According to the roadmap, DeFiHorse will release the first demo online in 2022, followed by iOS and Android operating systems, incorporating AR technology, and holding worldwide tournaments with up to $1 million in prize money.

Label Foundation Has Announced an Official Deployment on Binance Smart Chain 3732

Label Foundation has recently announced its readiness to deploy on the Binance Smart Chain, utilizing the cross-chain bridge that they have developed in cooperation with the Tokyo-based blockchain development company, Curvegrid. The deployment of the bridge pinpoints to the initiation of the Label’s integration into the Binance Smart Chain’s ecosystem.

Label may be understood as a blockchain-oriented international education content platform which presents an incubation system that readily supports various promotion, distribution and investment processes in an attempt to eliminate obstacles and challenges pertaining to existing content production as well as investment procedures.

Previous to this development, Label Foundation has expanded its ecosystem with key partnerships within the blockchain and education industry. It has already collaborated with OPENTRACK, a leading music education platform operated by Clesson. The partnership will provide a batch of world-class instructors that will provide early content within the Label ecosystem. They announced that they are committed to bringing world-class artists, such as Scoop DeVille, Mark Lettieri, Docskim and many other Grammy-nominated artists to their platform to incubate and NFTize their IP rights.

Label Foundation’s primary objective is to hence provide its users with high-quality educational and entertaining resources. Apparently, with their migration to the Binance Smart Chain ecosystem, Label will be able to leverage all the best features of the mainnet to scale and increase their performance of their decentralized application.

An innovative platform

Through Label, an NFT framework has been constructed atop the Ethereum Network and Binance Smart Chain, and it is supported by the LBL utility as well as governance tokens, with a single purpose of establishing a fair profit-sharing economy with permissionless IP rights incorporation. Label is hence a decentralized P2P (Peer To Peer) incubation platform that invests in high-quality entertainment and education material via the DAO (Decentralized Autonomous Organization) voting system, allowing donors to collect profits via the NFT ownership mechanism.

Also, the Label platform creates an ecosystem that seeks to establish an unbiased and decentralised incubating system, with the goal of providing content creators in the MOOC industry with improved accessibility. It therefore strives to enhance a seemingly unfair profit structure which is often prevalent in the sector and to also prevent copyright infringement instances from occurring throughout the industry.

Bridge with BSC

As per the latest developments, Label is now officially bridged to Binance Smart Chain (BSC) and the token shall be deployed via the MultiBaas Middleware, built by Curvegrid. The bridge shall link Ethereum Mainnet with Binance Smart Chain, allowing for the smooth movement of LBL tokens from ERC-20 to BEP-20 and vice versa.

Additionally, Solanium shall be joining LABEL as a strategic adviser, assisting in the expansion of the LABEL ecosystem. In the Solana (SOL) ecosystem, Solanium is a platform based in Amsterdam and primarily used for governance voting, decentralized fundraising, and time weight token staking. Furthermore, Label’s IDO is also anticipated to take place on RedKite and NFTb for the purposes of conducting public sale.

As per its whitepaper, Label aims to offer an unrivalled sales framework and infrastructure situated on the usage of blockchain technology via the aforementioned incubating system. Through this, experts, professionals and specialists alike can be found and invested in. Moreover, through effective system integration, Label will also create a fair profit sharing environment for the purposes of intellectual property rights. Lastly, with the establishment of its NFT Market, Label will launch a virtuous loop that will initiate the Global Value Chain by making the IP rights embedded in the non-fungible token readily transactable. To that end, it is also partnering up with various organizations from the entertainment and media industry to focus on the cultivation of its respective incubating system.

Blockchain Security Solution Provider CYBAVO Selected to Participate in Tokyo Financial Award 3929

Blockchain security firm CYBAVO has been selected as a participant for the Tokyo Financial Award, Financial Innovation Category. Chosen from a pool of 88 applicants, CYBAVO is one of the 16 companies that have moved into the next phase of the prestigious award.

The Tokyo Financial Award is hosted by the Tokyo Metropolitan Government (TMG) as part of its “Global Financial City: Tokyo” project, which aims to revitalize the city’s financial sector and reaffirm Tokyo’s position as the top global financial city in Asia. The award is designed to attract FinTech companies, both local Japanese and international organizations, to develop and provide innovative products and services that contribute to enhancing Tokyo residents’ daily lives and solve problems that Tokyo’s government may face.

CYBAVO offers a comprehensive solution that helps large enterprises and governments securely manage digital assets, providing a set of tools that help key players in the digital asset industry protect their assets, ensure regulatory compliance, and enhance operational efficiency.

CYBAVO recognizes Japan as being one of the most important markets for blockchain and cryptocurrency development. As early adopters of Bitcoin, Japanese users are among the more mature and technically-savvy users, pushing this technology further in terms of global exposure and adoption. With its expertise in the cybersecurity industry, CYBAVO looks forward to working with Japanese organizations to help them adopt the blockchain with confidence, knowing their funds will remain secure.

The 16 companies moving into the next phase of the award selection process will go through a final judging round in December, where their products and services will be ranked and 3 will be selected as award recipients in February of 2022. Before then, they will be offered the opportunity to meet with industry experts and mentors, participate in networking events, and receive business-matching opportunities with companies in Tokyo, including financial institutions.