Video creation, conveyance & consumption trends around the world is experiencing a major disruption. Production houses and studios who once subjugated the Entertainment & Media landscape are now eagerly looking over their shoulders at the adamant, aggressive and ambitious online streaming service providers such as YouTube, Netflix, Prime Video etc. This phenomenal growth of the online video content in the last decade has triggered a notable shift in the balance of power. But is the shift of control from oligopolistic studios and production houses to like-minded video platforms a sustainable option? Or there exists a better option which raises the expectations of the content yearning consumers and simultaneously rewards them for watching and reviewing videos. And also, maintains a robust, transparent and egalitarian relationship between content provider and content creator. The response to this is certainly affirmative.
Entertainment & Media industry is subtly poised to experience the blockchain disruption and incorporate a pragmatic use of cryptocurrency. The existing greed driven business models of online video industry is set to experience a major setback with the emergence of blockchain based video platforms which will place the control back in the hands of the users who feed the entertainment economy- viewers and creators.
Through a P2P centered content platform on the blockchain, Refine Medium’s objective is to place the onus of media content back into the hands of the viewers and creators. The solution will help disrupt the current trends which focus on the monetization efforts of advertisers while cutting out users and creators from revenue sharing. Refine Medium allows for the creation and review of videos in a peer to peer delivery to enable users to vote for quality content and ensure that all stakeholders can participate in revenue sharing while also ensuring that relevant, engaging content can be effectively promoted. Copyright moderators unique to the ecosystem will also play a major role in preventing any content right infringement, which is one of the major objectives of the decentralized media provider. A state of art user wallet designed to hoard XRM tokens and the details of each transaction made on the Refine Medium platform. Implementation of technical protocols for secure, scalable and uninterrupted streaming experience of the consumers.
How Refine Medium intends to capture the E&M market?
- The model implemented by Refine Medium through blockchain technology creates a direct creator-to-consumer network, replacing intermediaries in the process.
- “Copyright Agents” of existing video platforms will be replaced by “Copyright Moderators” in the Refine Medium platform.
- The negotiation agreements and payment terms will be governed by smart contracts with no scope of manipulation.
- The platform is built upon blockchain technology with control of data being distributed across various nodes all over the world. Each and every manoeuvre is recorded on the blockchain which eliminates any data discrepancy by third parties.
What is the Refine Medium MVP?
Our Goal is to build a complete decentralized media platform. As we are at an early stage, our team has deployed an MVP to earn knowledge about consumer views and market demands.
Refine Medium MVP – www.mvp.refinemedium.com The MVP includes the 3 major functionalities-
- User Accounts
- Video Upload and Streaming onto an IPFS storage.
- Transactions of Refine BETA Tokens on the blockchain to the User’s wallet.
We are planning to expand the functionality of our MVP and fulfill some critical requirements. We are exploring new opportunities towards the use of Gaia to store and stream videos in a decentralized manner. This will help us to build a decentralized Android Application too, along with the Decentralized Web Application. The technical team has already begun the research and testing.
What’s in it for Investors?
- We are organizing an event for our IEO on Probit.
- Refine Champion: Top three buyers of Refine Tokens will be given complimentary Refine Tokens from the platform. Top buyer, 2nd biggest and 3rd biggest buyers will get 15000, 10000 & 5000XRMs respectively.
- Quick100: The first 100 Investors will get additional tokens from the platform. In addition to the tokens bought, first 50 Investors will get 1200XRM tokens while the rest 50 will get 600XRM Tokens.
- Refine Referral: Investors can avail the benefits of referral system, which rewards investors a percent of investment made by investors they refer. The payout is smooth, instant and 100% transparency is ensured. This referral system is extended up to two levels. Let us try to understand this with an example. Say that user A refers User B and B Refers C. If B invests 10 Ether, A will get 1 Ether as a reward (10% of investment made) and if C invests 10 Ether, user A and B will get 1 Ether each. This provides an earning opportunity for investment pools and users with contact in crypto industry.
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