For Rewards to Content Creators

The services that utilize block chain technology to provide appropriate rewards to content creators will create a turning point for the vitalization of content creation ecosystems.
The services that utilize block chain technology to provide appropriate rewards to content creators will create a turning point for the vitalization of content creation ecosystems.

 

Much attention is being paid to services that utilize block chain technology to provide appropriate rewards to content creators. As the new services are giving creators money which current platform operators receive as commission fees, there is a growing expectation that the new services will create a turning point for the vitalization of content creation ecosystems.

According to the block chain industry on March 28, services such as "Steemit", a blog-based service provider, have been making debuts and provide creators with virtual money as rewards. One puts up articles or photos on Steemit like a blog and users click the “Like It” symbol. The more “Like It” clicks a creator receives, the more cryptocurrencies can the creator receives as rewards. When Steemit was born, many bloggers moved to Steemit. It is said that it is attractive that creators can earn profit via virtual money according to readers’ evaluation of articles rather than attracting ads.

SK Telecom began to build a music platform that can provide more loyalties to music producers by using block chain technology. It is expected that the company will take the wrap off a prototype of the music platform based on block chains in June.

SK Telecom hopes that the platform will help strengthen copyright holders’ rights by reducing transaction costs and blocking illegal downloads of copyright-protected music files. YD Online well known as a game company announced that it would promote block chains as its new growth engine item and enter the music platform business similar to that of SK Telecom. Gemmy Company, a company with a music platform based on a block chain is also pushing forward with a plan to apply virtual money 'Gemmy Coin' to music distribution in cooperation with the Recording Industry Association of Korea.

Overseas, block chain-based services for content creators are emerging one after another. Kodak famous for its film introduced a service model that strengthens the rights of photographers through the Kodak One Photo Trading Platform. However, as ICO, originally scheduled to be had in January, has been delayed, the release of Kodak One is expected to take some more time.

A project was launched to increase profits for creators through video platforms like YouTube. The video sharing platform Verasity pays virtual currency 'Vera' when you register videos. Users can help creators’ activities by watching videos with Vera or donating Vera. "There are around 15 million visual contents around the world. Among them, only 1% is profitable, and profits go to video platforms," Verasity co-founder Adam Simons said. “By using block chain technology, we can connect users directly to creators so creators can receive profits that have been taken by platforms."

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