Researching a MediaFi Token Approach Based on GameFi Platforms
This is something I have been leaking in previous articles for a long time but we are transitioning Dream and Hustle altogether to a bigger platform solution that hosts other media brands. This content platform will host multiple media types from articles, e-books, podcasts or audio narratives, videos, and original music. We are still developing this platform but I have decided to make a major pivot after realizing while I was in Dubai that we had all the pieces within Dream and Hustle to pursue a blockchain media solution, similar to blockchain gaming.
We live in a world where corporate media is promoting agendas and outright bold lies with no sense of impunity. We got these social justice warriors wanting to de-platform and cancel culture everybody who offend their fragile self-esteem. We have artists having to impress a rule of media elitists and seek approval from gatekeepers to have their creative works released to the public. Then we have corporate advertisers who try to flex their position to say do not support this independent journalist or we will pull our advertisement. Or someone from the Democrat Party wants to come out on stage at a Black Arts Festival to make an appearance asking Black people to register to vote and vote Democrats and expect nothing in return.
Look at the music scene where we see activists working to pull an artist like Ye off centralized platforms like Spotify because they fell out of favor or offended their fragile ego. How do we fight this and create a platform where listeners connect with their favorite artists without all this woke/cancel culture stuff trying to mandate who we are supposed to support and not support? Look at these Black bougie clown media platforms many co-opted by corporate media like Fox Soul that is not even acknowledging certain Black talent but wants to prop up some lame character like Jason Lee, who celebrates this propped-up cornball? We need a solution for this kind of nonsense we are dealing with content, especially Black-orientated content.
The solution vision I want to see is aligned with Web3 – create a blockchain, token-driven platform that allows content to be created and distributed through distributed ledgers. The organization is run as a DAO with the voting power performed through the issuing of tokens like GameFi. Token owners can vote on DAO-related matters and sell their tokens or keep them to collect value. Content creators can earn tokens for their content and sell their tokens or even better, sell or license their content.
Let’s discuss examples of content. A blog featuring stocks and crypto tips, Video Journals of news coverage and analysis, podcasts of AMSR and relaxing sessions, street fashion snaps, sista in Thailand modeling photobook – as you see, new paradigms of content that can be created and distributed on a free market platform driven by the token economy.
There is one distinct element that separates our vision with MediaFi from GameFi – we have to evaluate the play-to-earn concept. I think the definition I’m hearing is play-to-earn means the time a player sits there and plays a game they get rewarded with tokens. To me, this sounds like a loyalty program or gamification concept and I don’t understand the value proposition to either us or the customer for play-to-earn.
Instead, I support fan engagement or follower engagement. The content creative like a podcaster can perform a meet and greet with their listeners and they will know through token transactions who their customers are. Or release exclusive content to token owners that purchased a license to listen in the past. But we have to explain the financial incentive part.
We want a system where any profits from the platform are distributed directly back into the token core value like a dividend. Instead of a stable coin concept, the token core value is backed by revenue sharing. A percentage of proceeds of platform commissions is distributed throughout all of the tokens increasing the core value. We feel this is a more stabilized growth model than the wild speculative model of Ethereum NFTs that has crashed a lot of crypto-businesses during the crypto crash.
Here is the real part and I think most of you know this – the blog you reading right now, Dream and Hustle is already built like this and powered by our Toshikiso platform. Tokens drive all content that is marked as membership which is why non-members cannot view them. We have agreement systems set up to pay creatives every time their content is downloaded, or withdrawn from the member account, we take a platform cut and send the rest over to the creatives themselves. And we have a media distribution system set up to play media all around the world from white papers to original music.
In fact, our Early Adopters who have access to Toshikiso can create this same solution with our APIs using Digital Assets, Blockchain Vault to hold assets, Agreements to settlement payment distribution, and tokenized media distribution to produce licensed redeemable digital tokens. But we are working on our own research to deliver the version of this MediaFi model and will have more information very soon on our progress as this is the next generation of Dream and Hustle and the direction of real media is not compromised by centralized platforms that are pressured to engage in censorship from cancel culture and radical activists trying to harm creatives who offend their fragile ego.
Also, you know bougie crap like Blavity and other Black media won’t be able to compete with MediaFi. Because these bougie Black media do not and cannot put out media that the Black consumer actually wants and will pay for. Don’t forget about fan engagement – we can create our own MediaFi conferences and host them in Dubai or Singapore as well as attend crypto conferences. We can distribute the MediaFi music streams in crypto-cafes and display leased-based artwork in barbershops – yeah, look at all those clown-bougie Black folks running around like roaches, cannot run those compromised Black media sites to promote liberal and Democrat agenda to a Black audience anymore, lol.