With an exception of award-winning screenwriters of Hollywood blockbusters, content creators have seen better days in the past. In fact, most of them are forced to create new content on a regular basis just to make ends meet.
A new blockchain-based platform wants to change that, and help the creative folks earn a decent income from their work.
Content creation platform and marketplace
Called Qravity, it is an online platform that will enable creators to collaborate more efficiently when developing monetizable digital media such as including movies, video games, music, ebooks, and applications. On the other hand, it will also serve as a marketplace from where consumers and distributors will be able to purchase or rent this original premium content.
Built on the Ethereum blockchain, Qravity will record every project’s progress and guarantee that every team member has a stake in the project. If/when a purchase is made, the platform will distribute profits among creators and project founder according to their respective stakes.
“Qravity tracks tasks in such a way that creative members receive stakes in the content they help make,” the company’s founder and CEO, David Brandstaetter, told Cointelegraph. “For example, a person who writes lyrics for a song gets a share, say five percent, of the song’s revenue. Every time someone buys that song, the lyricist gets five percent of that payment.”
Two kinds of tokens
Qravity will support two kinds of tokens: the first, QPT, is Qravity’s internal digital asset that cannot be purchased on crypto exchanges. It will be used to keep records of the creators’ project stakes, with project founders being able to allocate fixed amounts of QPT to tasks according to their own criteria.
The second token, marked as QCO, will act as an actual currency that individuals and distributors will use to license or purchase content directly.
Helping content creators earn a decent living
Qravity was partly inspired by the story of the 19th-century poet and author Edgar Allan Poe. His famous poem “The Raven” has only earned him $24, which is the equivalent of $754.91 when adjusted for inflation in 2018. If there was a system such as Qravity back in Poe’s time, his earnings during the 20-year literary career would be worth a total of $195,018 today.
Realizing this, Brandstaetter — who is an Austria-based composer and producer — figured out something has to be done about it since today’s situation is very similar for the content creators. And so he teamed up with Sascha Dennstedt, Qravity’s co-founder and CFO, to create a system that would work to the benefit of the creative people around the world.
The game plan
The Qravity team says they only intent to host commercially viable content, and will be reviewing all proposals carefully to ensure that stakeholders stand to make the highest possible profit.
The company completed is minimum viable product (MVP) in July 2017, and has afterwards started planning for blockchain integration.
Qravity will start its token sole in mere days, offering bonuses to early investors. The Initial Coin Offering (ICO) will be split into 5 phases, and the sooner you enter — the better deal you’ll get.
The first project on the platform will be a 3D animated feature film called Lizzard Maddoxx, which production will start in September 2018…