The media sector is always innovating — harnessing the latest and greatest technology to create and distribute content in the battle for eyes and ears. From virtual reality music videos to CGI in blockbuster films to video game streaming, there’s no shortage of ways to grab our attention. Of course, great innovation brings great hurdles, and the media industry certainly has its share — digital piracy, inaccurate royalty distributions, fraudulent content and erroneous data to name just a few.
Blockchain in Media and Social Media
That’s where the decentralized ledger system blockchain comes in. Right now, it’s most prominently used in trademarking and rights management, but the applications are numerous.
For starters, the recorded distribution of music and movies allows artists to be paid fairly and maintains accurate data on streams and purchases. And the scourge of “fake news” can benefit from Blockchain’s ability to establish the origin of a story or fact — where all nodes unanimously agree on a single source of truth. Additionally, blockchain-produced movies — like No Postage Necessary — open up new avenues of revenue through cryptocurrency payments.
Though still in development when it comes to media integration, Blockchain technology is poised to shake up the industry. We’ve rounded up seven companies that illustrate blockchain’s media potential.
Blockchain Media Companies
- Live Bash
Blockchain Media and Social Media Companies
Located in Chicago and Los Angeles, Live Bash allows performers — from musicians to comedians — to book stage time, livestream a set and create NFTs of performance moments on the fly. These minted moments, which fans can buy and collect, are built on proprietary blockchain technology.
Binded is a blockchain copyrighting technology for photographers. Photographers upload their images, which are stored on a copyright vault that is secured by a unique fingerprint saved on a blockchain. Once images are uploaded and secured, artists can share their work and track similar images to help thwart any copyright infringements.
The Binded blockchain has recorded and protected more than 350,000 images. The company has also simplified Instagram photo copyright registration. Each time a user posts on the social media site, the added hashtag #Binded prompts instant registration of the photo.
Sapien is a social news platform that gives users control of data and content. By posting content the community unanimously agrees is true — or by interacting with other members — Sapien creators earn SPN tokens they can use throughout the platform and marketplace.
Since launch, Sapien community members have created more than 24,000 pieces of news content, posted 42,000 comments and earned 148,000 SPN tokens.
Rally’s online platform helps creators set up communities and economies to drive further engagement with their followers. It allows users to launch their own branded cryptocurrency, set up ways to incentivize and reward fans, and gate exclusive content. Best of all? The company says using Rally requires no prior crypto experience.
Audius is a music-streaming platform for the Web3 era. That means users can listen to curated playlists, discover new emerging artists and share songs with friends — all while earning token rewards. On the other side, Audius positions itself as a creator-friendly service, equipping artists with metrics and tools to deepen engagement with fans, so they can grow their platform while maintaining their independence from major labels.
Mirror is an online publishing platform pushing the media industry into the far reaches of Web3. With Mirror, you log in with Ethereum, store your writing on Arweave (a decentralized storage network), mint your posts as collectibles, collect crypto subscription payments and set up a DAO. You can even embed NFTs in your posts.
Verasity bills itself as a blockchain company where eSports, adtech and digital rights management collide. More specifically, the company aims to increase advertising revenue for video publishers by eliminating ad fraud with its Proof-of-View technology. And on the eSports side, Verasity has partnered with some big gaming names like PUBG Mobile and Riot Games.