Blockchain content distribution allows content creators to publish their work and get paid for their talent without a middleman. Initially, blockchain became prevalent with cryptocurrencies, like bitcoin, but recently, the finance and banking sectors have embraced the technology.
The basic idea is to have a decentralized approach where everyone participating in the network or the transaction is responsible for content distribution and secured transactions. This decentralized work model is the key methodology employed in cloud storage, payment processing, and cybersecurity. Interestingly, a blockchain plays a key role in content creation and distribution. The web page ranking lies with the content creator rather than in the hands of the content.
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Content Distribution Platform
Most artists prefer YouTube for hosting and distributing content, and it is secured as well. For all these features, the users allow the company to benefit from their content. It is unfair for these artists as they don’t get their entire share of the profit for their talent. YouTube is a popular platform on the Internet for publishing videos, and artists find it very comfortable as the platform takes care of all the logistics behind publishing and distributing their videos. It allows the creators not to be bothered about other stuff and simply focus on the creation alone. The content creators find YouTube a reliable and high-volume platform.
Blockchain Content Distribution Platform
Flixxo, a decentralized content distribution platform, allows creators to publish their content to specialized users who pay cryptocurrency tokens to enjoy it. The users participate in Flixxo by simply making videos on their computers and sharing them on peer-to-peer services like BitTorrent. This decentralized crowdfunding and hosting solution works towards offloading the cost of running the network on the users but also makes it lucrative and rewarding for the creators.
The best part of blockchain content distribution is that it provides the necessary security for its participants. It is in a network and does not allow hackers to compromise the entire network. They might reach a single node but won’t be able to break into the network as blockchain technology supports decentralized hosting and encryption systems.
The Need for Decentralized Distribution
More than the creators, distributors get paid the most. Whether on YouTube or a physical medium, the distributors benefit a lot. A talented artist performing on-screen would earn a heavy paycheque, but the studio behind the production earns much more as they release it worldwide. Blockchain breaks the conventional centralized approach and makes content distribution decentralized. Those who once controlled content hubs will no longer be able to exercise the same degree of control and benefit from it.
The Future of Blockchain Content Distribution
The motive behind fostering blockchain content distribution is that the audience can pay their amount to their favorite artists instead to the subscription channel. Ultimately, the real talent and the original creator get their reward. Blockchain technology encourages the users in the network to contribute toward hosting the content. The cost that YouTube incurs from hosting billions of videos and a global audience is distributed evenly.
This understanding enables the people behind the screen to be noticed and paid for their contribution. The users, too, can pay less as blockchain technology eliminates the middleman. They are happy to watch what they want without paying for irrelevant content.
We are witnessing tremendous growth in using Blockchain technology in all sectors. When protecting intellectual property, financial transactions, and content creation, blockchain tops it all. The world is slowly moving toward digitizing all entities. Blockchain technology has brought a change in contracts and licenses.
When Bitcoin was introduced in 2008, it was used to send funds to anyone anywhere in the world. It used digital money, crypto that embraced cryptography. The cryptocurrency, Bitcoin, uses blockchain technology to store transactional details. The fundamental difference between bank transactions and other online payment systems is that cryptocurrency requires no middleman. A middleman is like a central authority like a bank or government that monitors the transaction between the sender and the receiver.
Being a central power, they can censor, revert, surveil, and share your details with other third parties. It is not the same with crypto. It eliminates third-party involvement, and the sender and the receiver can have a direct transaction. Blockchain technology was introduced as a realization of cryptocurrency operations.
What Is Ethereum?
Ethereum is a decentralized technology for building apps for organizations that handle huge transactions and communications without a centralized authority. It acts similar to blockchain technology, and you control your data and the data shared in the network. Ethereum has its own cryptocurrency, Ether, which is used to pay for transactions in the network.
Benefits of Ethereum
1. Alternative for Banking Service
The users can access Ethereum and its products, such as lending, borrowing, and savings services. All they need is the internet.
2. Guaranteed Privacy
Ethereum can be used to form a private network. It builds its economy based on value and not on surveillance.
3. Eliminates Middleman
Money transactions and digital agreements are performed on a peer-to-peer network. The users need not go through a middleman.
4. No More Authority
Ethereum is decentralized, and no third party or government can interfere with its functions, such as sending and receiving payments or using services on the Ethereum network.
5. The Irrevocable Rules
Ethereum makes sure to proceed with a transaction or an agreement without changing, altering, or updating the agreed-on rules.
6. The Component-Based Approach
The components are composable since all the apps are built on the same blockchain technology. Users can make use of blocks to create services from scratch.
NFT (Non-Fungible Token)
An NFT (Non-Fungible Token) is unique and cannot be replaced with something else. For instance, bitcoin is fungible. You can trade one for another bitcoin. They cannot be exchanged or traded equivalently like other cryptographic assets. NFTs are created using cryptocurrencies that are based on blockchain technology. Physical currency and cryptocurrency are fungible, meaning they can be exchanged for another cryptocurrency. But, NFTs cannot be traded or exchanged like other cryptographic assets.
NFT is a form of digital asset that represents Internet collectables like art, music, and games with an authentic certificate created by blockchain technology that underlies cryptocurrency. It can by no means be forged or manipulated. NFTs are a part of the Ethereum blockchain. Other blockchain technologies have their own versions of NFTs.
NFT in Content
The most significant use of NFT is that it empowers content creators to build their economy, where creators own their content rather than the platform they use to publish the content. Content marketing is the process of researching, creating, and publishing content for your target audience. Content marketing using NFTs is the same, except that you create content that attracts NFT holders, investors, and community members.
The role of content marketing for a blockchain business is to assist its audience with research and navigation in the cryptocurrency and NFT markets. Content marketing allows you to educate potential investors and customers while creating value for your cryptocurrency business.
OpenSea – Decentralized Distribution Platform
OpenSea is the leading distribution platform for non-fungible tokens. OpenSea is an open, inclusive web3 platform where individuals can come to explore NFTs and connect with each other. This platform lets users buy and sell NFTs on the secondary marketplace and also creates their own NFT collections to sell on the primary marketplace. The primary market refers to the first-time sale of an NFT, also known as a primary sale. The secondary market refers to any subsequent resale of the same NFT, also known as the secondary sale. OpenSea is a decentralized platform for users to buy and sell NFTs and is built on the Ethereum blockchain. Therefore, it requires an Ethereum wallet to buy and sell NFTs on OpenSea.
Initially, the NFT exchange began as a market for exchanging collectables, like CryptoKitties but has expanded beyond collectables. It is a marketplace for various digital assets, content, art, domain names, game items, and music. OpenSea is a versatile platform that supports several wallets like MetaMask, Coinbase, and TrustWallet. Also, it supports blockchain technologies like Polygon (MATIC) and Klaytn (KLAY). The OpenSea marketplace is easy to navigate, with a filter feature to help you find the NFTs you need. OpeanSea aims to build a platform that supports a brand-new economy based on true digital ownership.
A non-fungible token (NFT) is a unique digital asset that acts as a certificate of ownership for virtual or physical assets like photos, videos, and tweets. Each NFT represents a one-of-a-kind cryptographic item that cannot be interchanged with another and is maintained in a digital ledger called the blockchain.
Applications of NFTs include collectables, gaming items, domain names, digital art, digital contracts, and other items backed by a blockchain.
NFT – How Do They Work?
They are digital content that sells for millions of dollars and have attracted the attention of investors, art lovers, gamers, and tech enthusiasts. A few examples of NFTs are:
- The first tweet by Jack Dorsey, CEO of Twitter, was sold as an NFT for a whopping $2.9 million.
- Digital artist Beeple’s masterpiece, “Every day’s: The First 5000 days”, was sold for $69.3 million, the most expensive NFT ever sold.
- A popular animation known as Nyan Cat was sold for $590,000.
- A virtual kitten named Dragon, created by a game called CryptoKitties was sold on the platform for $172,000.
- An NFT, called NBA Top Shot, is one of the biggest NFT series that allows fans to own classic moments in basketball history.
All these examples have triggered marketers to invade NFT marketing as it is an effective tool for enhancing their relationships with their audiences, boosting customer engagement, and creating brand awareness. NFTs fetch crazy money, and everyone wishes to own one. Marketers keen on creating digital assets make use of blockchain technology and cryptocurrency.
Marketers create tokens with these NFTs as they represent items, such as art, audio, video, and other virtual work. These tokens are tailored to specific audiences to target specific messages for specific groups. This strategy increases brand loyalty by allowing its audience to own unique, branded digital items.
1. What is blockchain content distribution?
Blockchains distribute the cost of running a platform to all its participants but reward them for it in equal measure. This decentralized model is available in cloud-storage technologies, payment processing, and cybersecurity.
2. How is blockchain data distributed?
Blockchains rely on distributed ledger technology (DLT). The DLT acts as a decentralized database of information about the transactions between the nodes in the network. All the transactions are stored in the DLT as a series of blocks.
3. What are the two most important aspects of the bitcoin blockchain?
A bitcoin blockchain requires two cryptographic keys – public and private keys. Each individual, or node, has both of these keys to create a digital signature. The digital signature is a unique and secure digital identity reference and an important aspect of blockchain technology.
4. What are the platforms available for NFT?
– Nifty Gateway.
5. What is Minting?
Minting refers to creating a new NFT on a blockchain, most commonly on an Ethereum. It involves recording data that comprises a new NFT in a new block that gets included in the blockchain.
NFT is the new marketing trend that is catching up. It creates ownership for the creators and the users. All the transactions are digitized and encrypted using cryptographic technology, making it hard for intruders to break into the network.
Are you interested to know more about this technology? Read our blogs to learn more about content marketing and the technologies making waves in the marketing arena.