When it comes to the basic need of humans, food, shelter, and clothing might have been at the top in the earlier days. But, the need to be entertained is fast catching up as one of the top needs.
This is the reason why the media and entertainment industry today estimates at a whopping 500 billion dollars and is only slated to grow further from there.
From the moment you watched something in a theater or even on YouTube, you became a part of this industry. However, so far, what we see and how we see it has always been governed by entertainment providers and there is little to no transparency as to how things are moving.
This is soon going to change with the inclusion of the radical blockchain in the entertainment industry. Blockchain comes with a number of benefits with transparency in operations being the most obvious advantage.
LiveTree ADEPT (Advanced Decentralised Entertainment Platform for Transparent Distribution) is a digital platform that brings in all the benefit of the blockchain for the entertainment industry.
Blockchain for the Entertainment Industry
The entertainment industry has long suffered from the ill-effects of a centralized system. This allows the distribution platforms to create a monopoly and, in turn, control this industry at large. With blockchain, a decentralized system can be created where the control is no longer in the hands of a few.
This system brings balance to media and entertainment industry and offers equal opportunity to content creators. Crowdfunding did try to solve some of these issues, however, there’s still a big gap.
Anyone can join the crowdfunding platform to pitch their ideas and, if the supporters are interested, they can back it up by pledging their support by paying for the project. This helps in the creation of content, however, the real problem comes in the marketing and distribution of this content.
With the help of blockchain, there are a number of ways, in which LiveTree ADEPT will redefine the entertainment and media industry.
1. Creating a Decentralized System
Even in today’s digital era, the media and entertainment industry heavily relies on conventional systems. LiveTree ADEPT’s blockchain is a simple yet sustainable solution to these problems. It allows content creators to collaborate with other service providers while proving the utmost transparency as well.
It helps content creators by finding talent and eases out the process of getting them onboard with the help of automated contracts that are all available via the blockchain. In turn, the workforce is awarded seeds, based on their involvement with the project that they can easily cash out at the end of the project.
2. Faster Implementation
Blockchain basically eliminates the need for a third-party to take care of the business. Today, the most amount of time is spent on the hiring of talent for any given video production. This complex and lengthy procedure is replaced with the help of smart digital contracts.
All this helps in bringing a greater deal of transparency as they all know what they will receive at the end.
3. Better Promotion
Similar to the blockchain, this platform offers a commission to parties that promote the projects. Similar to cryptocurrency mining, the more they work, the better they are paid for it.
All this does not end here. Similar to bitcoins, there’s a limited number of seeds that are generated by each project and, as the demand grows for a particular project, the value of the seeds also grow along.
Word-of-mouth is a proven way of promotion and has been around for centuries. LiveTree ADEPT benefits from it and rewards the backers in return.
4. Equal Opportunity to Grow
Since everything is on a decentralized system, only one party does not reap all the benefits of a successful production, which is a big problem with the current entertainment industry. With conventional crowdfunding solutions, backers can help in bringing a product to life, however, there’s very little they get in return.
Even as a viewer, when someone pledges their support for a production, they receive an incentive in the form of a seed offering equal opportunity for anyone to grow. This, combined with conventional rewards-based crowdfunding system, is a serious advantage that comes with LiveTree ADEPT.
5. Pre-pay-per-view Model
The LiveTree ADEPT enables a pre-pay-per-view model, which allows viewers to back a production that they would like to see being made. This allows content producers to gauge the interest and deliver accordingly.
Even when the production is underway, if a viewer pledges its support, they become a part of a much larger ecosystem where they are also awarded seeds based on their contribution. Therefore, it’s not just what you are getting to see at the end of the day, it’s also what you’re investing in, at the same time.
With the help of blockchain, all efforts are collaborated towards making a successful production.
6. Offers Better Security
Piracy is one of the biggest problems that the media and entertainment industry has not been able to counter effectively, to this day. With the help of blockchain, a viable solution can be offered for this problem as well.
Due to its open-source nature, all information of the content is available on a public domain. Blockchain helps in managing the sharing rights of the digital content and ensures fair compensation for all parties.
7. Great Move for Smaller Media Houses
The use of blockchain is definitely a huge help for smaller production houses as it takes care of a lot of processes and provides a viable and sustainable solution to them. However, for bigger production houses, this poses some problems.
They already have all the systems and process in place, therefore, they do not need to move to a new platform. However, this system opens up newer avenues for content creators to join and start creating wonderful content in no time.
And There’s an ICO As Well
Similar to its projects based on the blockchain, LiveTree has also announced its ICO or Initial Coin Offering. Much similar to an Initial Public Offering or an IPO, it helps the company raise funds for its projects while giving a portion of equity to the investors.
They are offering equity in the form of seeds and anyone can buy these seeds right from the official website. At present, the ICO offers 1,000 seeds for 1 Ethereum unit and there’s a cap of 256,250,000 seeds for this ICO.