About MEDIA Protocol
MEDIA Protocol disintermediates the relationship between content publishers and consumers by creating a direct economy for the exchange of content, data, and incentives, including financial incentives. MEDIA Protocol enables publishers, brands and content creators to deliver the most relevant content in pursuit of a more transparent, efficient and enjoyable online experience.
Today, content distribution is inefficient and mediated through social platforms and search engines that control large audiences. These content distribution platforms harvest huge amounts of valuable engagement and preference data from content consumers, but offer creators and publishers little in return. MEDIA Protocol enables the exchange of value between these actors for mutual benefit. The economic function of the protocol is designed to create a direct channel for publishers to promote content through balanced consumption incentives directly to consumers, for consumers to pay directly for gated content, and to spend tokens rewarding favoured content creators and publishers. The protocol is designed to support an ecosystem of localised and community-centric content distribution apps that cannot currently overcome the economies of scale perpetuated by incumbent platforms.
MEDIA Protocol is a platform that can directly compensate content creators for their work, without any middlemen taking a cut or collecting private data. The MEDIA protocol is not an app itself, but rather a software development kit that programmers can use to create decentralized apps; one has already been created using the platform.
The group has also released its own cryptocurrency, the MEDIA token, which will serve as the sole currency used in the ecosystem of apps built using the platform.
Team Behind the MEDIA Protocol
MEDIA Protocol is the work of a moderately large team of sixteen employees. The team is relatively young, but many of them are highly accomplished programmers with remarkable educational backgrounds. Much of the team also works for Codec.ai, an artificial intelligence company that has already developed several powerful platforms for the marketing and communications industries.
MEDIA Protocol’s project has not yet gained much coverage from online publications, and the group has no presence on social media aside from a Telegram page with fewer than 30 followers. However, this is reasonable considering that the company is still very early in its roadmap; the platform is not due to be released until the second quarter of 2018, and even then it will still be under development for at least a few more months.
Though the company still has a low profile online, representatives are currently presenting the platform at several conferences each month all around the world.
MEDIA Protocol’s Technology
MEDIA Protocol’s actual product is a software development kit designed to easily create the back-end architecture for decentralized apps meant to share media, including videos, music, or text.
Content creators can directly publish their work, and earn profits from users if they set up a subscription or paywall feature, or from advertisers who gain exposure through the traffic they draw. Users can also earn tokens for their participation, either as a reward for distributing content across their social networks or from advertisers who choose to pay for their attention. Ultimately, each app that implements the protocol will differ in both its reward system and its content.
The first app developing using the MEDIA Protocol is called CryptoCatnip; an early version is currently available on both Google Play and iTunes, but it will not be fully functional until the MEDIA token is released. The app is entirely devoted to cryptocurrency news.
The platform will also include a Content Recommendation Server, which will leverage the team’s existing talent with artificial intelligence to connect users with content they’d likely be interested in. The system sounds remarkably advanced, using not only tags and keywords but a sophisticated engine that can analyze content to determine its topic and themes.
All of MEDIA Protocol’s work is open source, so users can analyze the code for themselves to verify its security and stability.
MEDIA Protocol’s work will be published on GitHub, so software developers interested in using it to create an app will be able to access it for free. The organization’s website and publications make no mention of licensing fees.
The group states that its MEDIA tokens will be sold in an ICO, beginning with a private sale in the first quarter of 2018 and progressing to a full sale one quarter later, but neither its website nor its publications offer any details about the sale’s date, prices, or know-your-customer measures.
The only information offered about the token is that it is ERC-20 compliant with its own blockchain, and that addresses can be saved within the platform for seamless transfers.
The Verdict For MEDIA Protocol ICO
The MEDIA Protocol system presents an interesting idea, but several similar platforms are developing simultaneously that it will need to compete with. Furthermore, the organization currently provides frustratingly little information about its ICO, and it appears that it may be falling behind on its published roadmap.
The team behind the MEDIA Protocol project is remarkably accomplished and holds great promise, but their platform’s success will ultimately depend on the enthusiasm and creativity of developers, and users’ willingness to embrace its internal cryptocurrency.
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