Contents Protocol is a decentralized protocol to revitalize the premium content material industry. Through Contents Protocol, content distribution structures will be capable to furnish transparency to consumer facts and insight to the content material providers, which will assist them create better content material in the future and incentivize users for their activities and contribution, which will inspire them to become extra active shoppers in the industry. WATCHA, Inc. has been working WATCHA and WATCHA Play for over 6 years in Korea and Japan and currently has 4.5 million users with 400M reviews. To pace up the growth of the Contents Protocol's Ecosystem, the Corporation will launch an open supply reference platform for each content material class of TV, Music, Comics, and E-Books, reducing obstacles for workable content platform operators to do enterprise in the ecosystem.
Centralized online platforms, such as Netflix, are many users’ preferred method of consuming content these days. While platforms like Netflix provide great services, a few problems arise from the use of such centralized platforms:
- Platforms Abusing Lack of Supply in the Market – Platforms like Netflix and Hulu are behemoths, and as such, are able to abuse their position in the market since there aren’t many competitors. Even though these platforms thrive off the content provided by content providers, they charge exorbitant commissions to content providers, ranging from 30-70%. Worse, as the platforms continue to grow, they favor their own original content vs. those of 3rd party content providers, leaving the latter with much fewer viewers and revenue.
- Non-transparent and Unreliable License Fee Payments – Centralized online content platforms aren’t subject to any transparency standards when it comes to their revenue distribution systems. As such, how licensing fees are calculated and paid out are only known to the platforms while content providers have no option but to oblige since they live and die through distribution on these platforms.
- User Contribution Not Rewarded – Similar to platforms like Facebook, where users contribute to the growth of the platform by adding friends, posting content, etc. but all value from that activity flows to the top (Facebook), centralized online content platforms also take advantage of user activity. Though users contribute value to the platform in the form of things like reviews, curation, and more, which greatly help the platform itself, the users are not compensated for their efforts accordingly.
Decentralization as a Solution
To battle the problems and inefficiencies posed by centralized online platforms, Contents Protocol is building a decentralized premium content exchange protocol for content providers, platforms, and users alike.
Revenue will be distributed fairly and transparently based on contribution to the Contents Protocol ecosystem, which is measured using the smart contracts of the Platform Contribution Measuring Engine. Compensation is measured using the smart contracts-powered Contributing and Distributing Engine.
Users are compensated for their network contributions – promoting content or platform outside the platform, reviewing content, providing purchasing and rating data to the recommendation engine, etc. (5-12%). Content providers are compensated with a high percentage of the licensing fee (70-85% vs. 30-70%) that is also transparently tracked and recorded on the blockchain as well as paid out automatically in real-time (vs. in monthly cycles) – if paid in Contents Protocol tokens – using smart contracts. The platform is compensated 5-10% of the initial user payment for content. All compensation percentages are decided by the platform that distributes the content, using the ranges mentioned.
To help quicken the growth of the Contents Protocol ecosystem, the team will launch an open source reference platform for each of the content categories in the ecosystem: TV, Music, Comics, and eBooks and then find 3rd party platform operators for each reference platform. That is to say that Contents Protocol is not a closed network but one that brings together different platforms using Contents Protocol.
Open source reference platforms will make doing business in the Contents Protocol ecosystem easier for content platform operators, as little develop resources will be needed when open source solutions like high-quality platforms and content management system (CMS) interfaces are already provided. Furthermore, the Contents Protocol Foundation will help connect content providers and platforms.
Contents Protocol Being Built by Watcha aka “the Korean Netflix”
Contents Protocol is being built by Watcha, otherwise known as the “Korean Netflix”. Watcha already has 4m users and 400m reviews across its various apps: Watcha and Watcha Play. In 2015, Watcha was named Best App of the Year in the Korean App Store while Watcha Play earned that award in 2016 and 2017. From 2013-2014 Watcha was the Best App of the Year in the Korean Play Store while Watcha Play was the best Korean app in 2016.
Watcha also expanded to Japan in 2015, and have millions in investment ($12m Series C round in April 2018) from significant players like Kakao Ventures. (Kakao Ventures is the VC fund of Kakao, a South Korean Internet company, which among other things, owns KakaoTalk, the predominant Korean messaging app used by 93% of Korean smartphone users, or 75% of the entire country).
The tokens that will power Contents Protocol are Contents Protocol Token (CPT) and CP Power (CRP).
5-10% (decided by distributing platform) of user payment for content is automatically converted (if paid in fiat vs. CPT) to CRP and staked to the content’s pool to pay the various members of the ecosystem (users themselves, content providers, platform).
Users can boost their compensation rewards by choosing to stake more CPT in content and/or the platform. Likewise, content providers can earn bonus licensing fees by staking CPT on the platform.
TOKEN SALE: 17 DEC – 21 DEC
Token type: ERC20
ICO Token Price: 1 CPT = 0.0015 USD (0.00001600 ETH)
Fundraising Goal: 3,800,000 USD (40,000 ETH)
Total Tokens: 10,000,000,000
Available for Token Sale: 30%
Whitelist: YES (SINCE 11 SEP, JOIN )
Know Your Customer (KYC): YES (PERIOD ISN'T SET)
Know Your Customer (KYC): YES (SINCE 7 DEC)
Min/Max Personal Cap: 0.1ETH / 50ETH
Token allocation is as follows.
- 30% token sale
- 15% business development (content)
- 15% business development (platform investment)
- 5% community building
- 15% company and team
- 4% advisors
- 7% reserve
- 7% copyright management
- 2% old user distribution and bounty (incentivizing current Watcha users to participate in the Contents Protocol ecosystem)
The team is the team behind Watcha, which has a lot of success in online content but other spheres as well.
For example, CEO and Co-Founder Taehoon Park worked as a developer on Nexon’s Maplestory (huge massively multiplayer online, or MMO, game that was the #6 MMO game by worldwide revenue in 2014) and was listed on Forbes Korea’s 2030 Power Leaders list in 2014.
Advisors for Contents Protocol are impressive, too:
Teddy Zee – Zee is former EVP of Columbia Pictures and former SVP of Paramount Pictures. He is also a member of the Oscars, Emmys, and Producers Guild of America.
Jun Kim – Kim is a partner at Kakao Ventures.
Simon Kim – Kim is the CEO of Hashed, Korea’s leading blockchain investment fund, and advisor to other high-profile projects like ICON and Kyber Network.
Shaun Dije – Dije is the Co-Founder of DigixGlobal, the first Ethereum DApp, and Founder of Ethereum Singapore Meetup, the largest meetup of its kind in Asia.
For More Information
- Official Website : contentsprotocol.io
- Facebook : https://www.facebook.com/ContentsProtocol
- Twitter : https://twitter.com/contents_prtcl
- YouTube : https://bit.ly/2Qy2uVc
- Official Telegram Announcement : https://t.me/contents_protocol
- Telegram Channel (ENG) : https://t.me/contents_protocol_en
- Telegram Channel (KOR) : https://t.me/contents_protocol_kr