After the Vice Industry Token ICO which offers up a blockchain-based model that allows consumers of pornography to be paid for their time, we now have Current Media who are seeking to offer a similar service for music and film lovers, all with a little help from investor Mark Cuban, Shark Tank billionaire and owner of the Dallas Mavericks NBA team.
Instead of having to go to multiple sources for your favourite music, videos and films, Current Media provides a platform where it is all bundled together and bound up within a single reward system.
“Attention is a Commodity”
According to Current Media CEO Dan Novaes, “Consumers today are just giving away their time, attention, and data for free — when those are the most valuable commodities in their lives.”
They are proposing, then, to pay you for that attention and data. Of 1 billion CRNC tokens, 35% will be made available for a month-long ICO which starts on March 14th. The remaining 65% will be mined by users consuming content on the platform.
Similar to the Steemit blockchain model, mined CRNC will be split between the content creators and content consumers. The user can put their tokens towards premium memberships on content sites like Spotify. Artists, users and curators can also earn CRNC through referrals.
Unlike Steemit, however, traditional content aggregators like YouTube and Spotify will also be able to benefit from the service as they retain all ad revenues and customer analytics while increasing their numbers of premium subscribers. The technology uses blockchain to record and reward all contributors to the platform.
Meanwhile, early investor in Current Media Mark Cuban has announced that from next season you’ll be able to buy tickets for Dallas Mavericks games in Bitcoin and Ether. Although if recent price movements in cryptocurrencies continue much longer there may not be many crypto-investors who’ll be able to afford a ticket.
