5 Ways Blockchain Technology is Disrupting Entertainment and Media

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The technological applications of blockchain technology are continually being tried and tested in a variety of ways on new unsuspecting industries. Entertainment and media are next in line, as individuals and groups worldwide are exploring ways to apply blockchain principles and adopt its ethos of decentralization, democratization, and distribution.

Read on for the 5 ways Blockchain technology will enhance entertainment and media sharing

1. Decentralized Distribution & Security

Blockchain technology does not rely on a single storage point for all data. Data stored on the blockchain is in ‘nodes’ and all users in a node group both have access to all the nodes and possess an identical copy of the complete node tree. When applied to film and TV, for example, it means that there is no single storage point to draw on. All followers and subscribers participate equally by viewing and using the content while storing it. The added bonus of decentralization is that there is no single point of failure, making it very difficult to attack and compromise the entire system.

Democratized

Building on decentralization comes democratization. Since all users are technically equal in status and participation under the blockchain ecosystem, the playing field is leveled. Applying this to entertainment and media means equal participation among artists, producers, and creators hand in hand with their followers, users, and viewers.

Smart Contract Transparent Billing

This is undoubtedly the most significant application within the entertainment and media industry. Recent concerns and dissatisfaction about the unclear billing models used by some of the Internet’s largest content hosting platforms have not gone unnoticed. Efforts are underway to create an ecosystem where the billing is managed by the content creators and not by the distributors and the majority of revenue is distributed among the developers. By using ethereum smart contracts, it is clear from the outset what agreement a user is entering into and billing is initiated automatically when the contract criteria are met.

Cut Out the Middlemen

Blockchain technology by nature is decentralized. How does this apply to entertainment, film, and movies? Simple. The entertainment and media industry has been built around central production hubs (Warner, Fox, Universal etc.). While their creation of today’s industry has been phenomenally successful, the majority of all revenues are held within the production circle. Remove the need for the central hub, and the middlemen of film, TV, entertainment etc. disappear overnight with content creators and users/ viewers are directly connected via blockchain technology.

Global Market

The Internet enabled the disruptive power of NetFlix, Amazon Music, Hulu, and others with live streaming and a global audience. Now, by using the blockchain, this can be taken a step further. Through using a global platform built on the blockchain artists, authors, actors, and developers can connect directly with their audience regardless of region, country or demographic, taking control of their follower-base.

Current Steps

Numerous projects are experimenting with blockchain applications: linking entertainment with social media, content sharing, token production investments and applying it to specific areas such as virtual reality. While projects such as TaTaTu, Flixxo, DECENT, MovieCoin, VARCrypt focus on specific aspects of blockchain technology uptake, a central ‘umbrella’ platform capturing all of the core tenets is missing. Such a project is hugely ambitious, but the potential rewards for everyone are exponential.

BUCKY House aims to do just that. Through their ecosystem content creators can link directly with their followers and receive the majority of revenues raised from their sales. From content creators and production houses to freelance authors & designers, advertisers, app developers, viewers & subscribers: if you are interested in creating, promoting and viewing world-leading content, while knowing that your proceeds are going where they should be and not to unnecessary intermediaries, then visit us today to learn more about our platform and Bucky Coin token sale. www.buckycoin.io

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A Decentralized & Democratic Blockchain Solution – Bucky House

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The Entertainment Industry Today

Centralized Revenue, Growth in Online Content and Blockchain Solutions

At present, the global media and entertainment industry – including film, TV, radio, music, news, and literature – is valued at around $2 trillion USD. That’s a lot of green by any measure, but the sector is currently experiencing changing dynamics that could potentially up-end the entrenched traditional aspects of the industry: centralization of content, control, and distribution being the main ones.

The disruptive power of the Internet and the exponential growth in online paid content is already a reality, and while most entertainment providers survived, others fell (we loved Blockbuster while it was here). While online content and improved technology have brought cinema-quality viewing into people’s homes, the next great disruptor is shaping up to come over the blockchain network, where decentralization and democratization of content and revenue are set to take things a set further.

The Present Day Centralized Revenue Model

Walt Disney, Fox, NBC, Time Warner… these are household names and have been for decades. And for good reason too: combined, the major production houses contribute $632 billion to the US economy annually. Aside from receiving the lion’s share of the US domestic entertainment and media market revenue, these producers share the largest proportion of the global market worth as well. Other industries are growing around the world, with the second and third largest being in China and India, but their proceeds still pale when placed in the shadow of the American establishment.

Online Content and Shifting Trends

Improved technology, including HD, 4K, Smartphones, and tablet devices have been fully utilized by online streaming platforms. YouTube, NetFlix, Amazon Prime Video and Music, Hulu, HBO Now and others have quickly become household names everyone recognizes. The majority of the large producers have adapted to the market change, but it has been a struggle with broadcast TV under considerable threat. Some have made the jump to paid advertising as their main revenue source through using big data to monitor consumer habits online, and deliver targeted ads. Estimates place ad spending per company at $73 million for smart devices alone in 2018.

Only A Part of the Trend Shift

Naturally, those who lose out under the traditional model are the content creators and to an extent the traffic drivers. Not to mention end-users paying increasingly greater subscription fees to access content. The middleman has become so second nature (creator – distributor – end user) that it is difficult to imagine media and entertainment without one.

If online content and improved technology have effectively made broadcast TV a redundant service, then the application of blockchain technology removes the need for a middleman to distribute content. This effectively connects creators directly with end-users. Take YouTube as an illustration of the current dynamic. Research shows that breaking into the top 3% of views a month (1.4 million views plus) equates to a meager $17,000 a year. Considering the phenomenal effort to first create the content, and then actively grow and nurture the follower base, the question begs: where is the revenue from ads mainly going? Clearly, transparency is lacking.

A Decentralized &Democratic Blockchain Solution

Enter the BUCKY House (BUCKY) platform. It takes the core principles of blockchain technology (transparency, trust, participation equality, and decentralized distribution), and applies them to entertainment and media. BUCKY House provides content viewers and creators with the freedom to view and distribute content directly without the need of an intermediary sitting on top, scooping up revenue.

 

If you are interested in creating and promoting your great content, then visit us today to learn more about our platform. Likewise, if you love viewing great content, and love paying less for it even more, then visit us today to see how BUCKY House works for you.

Everyone is welcome to participate in the BUCKY Coin (BUCKY) token sale and contribute to the development of the platform. And when we say everyone, we really do mean everyone.

“Skip Ad in 5 seconds”? We don’t hear that phrase over here! www.BUCKYCoin.io

Unclear Billing, Changing Dynamics, and the BUCKY House Model

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Block chain technology is already proving disruptive, and for the good, within finance, banking and investment. With new industries being penetrated by blockchain enabled innovations and industry giants mulling their options, whether to adopt blockchain applications or not, one industry where changes are already birthing, is entertainment and media.

Online Entertainment: the Current Dynamic

The revenue sharing model of the large online platforms, such as Google, Instagram, and Facebook, is one where the majority of proceeds (mostly from ads) is retained by the distribution platforms. This model has gained ill favor recently, and to illustrate this point: breaking into the top 3% of YouTubers with 1.4 million monthly views may only translate into $17,000 USD per annum unless you have a celebrity covering your back.

By exploiting smart contract technology and node content distribution on the blockchain network, a system can be created the users of a specific content network are in turn the owners and beneficiaries. This enables content and revenues to be distributed equally among all participants, and eliminates unnecessary intermediaries through direct interaction of the network members, regardless of whether they are content creators, users, or both.

The BUCKY House Model

By using the BUCKY House ecosystem creators such as authors, designers, musicians, actors, and developers are directly connected with their audience. Within their network of users who share their interests and passions, the creators set the fees for use of their content. This is managed by the ethereum smart contract system, and the billing is transparent from the outset. Payments are automatically authorized by smart contracts when specific criteria are met.

By utilizing this model, subscribers effectively pay less for exactly what they want and nothing more while the content developers receive the majority of the revenues with a portion distributed between the followers who host their content. Advertising doesn’t fall into the equation.

The Underpinning Philosophy

The philosophy forming the foundation of the BUCKY House platform is one where creative individuals and groups can publicize themselves and their work to establish a network of followers. Through the open source ecosystem they can distribute their content unbounded by geography, demographics, politics etc. and have complete freedom to decide their own fees and monetization model.

“Your Content – Your Rules – Your Billing”

The BUCKY House slogan in effect means that creators have complete freedom to decide their content and are unrestricted by others (production houses in particular). They create the rules for distributing their material among their follower network. The creators and followers together decide and agree upon the parameters of the smart contract, including the proportion of revenues allocated to the various parties.

Blockchain Uptake of Media & Entertainment Subscribers

The more cynical-minded reader may be thinking: “these blockchain tech companies are basically replacing production houses.” However, the shift is more fundamental than this. While blockchain networks require maintenance, and of course need a revenue source, the financial structuring completely departs from previous models. Through creating an ecosystem where users control their own content and directly interact with their followers, the control fees shifted away from a central hub and directly into the hands of those involved in creating and using that content.

Furthermore, blockchain is efficient at handling micropayments, something which large corporations and banks avoid, and the transaction costs are minimal. Through regular micropayments between users, the platform receives sufficient revenues from minimal percentage fees to maintain its costs.

Upcoming Token Sale (BUCKY)

Visit us today to learn more. If you are interested in creating, promoting and viewing world-leading content, knowing that your proceeds are going directly to the creative community, then you are welcome to participate in the upcoming BUCKY Coin token sale and contribute to the platform development. www.buckycoin.io

Democratizing Entertainment with BUCKY House

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BUCKY House and BUCKY Coin (BUCKY) have ambitious plans to harness the blockchain potential within the entertainment and media industry. As the founders put it, their aim is to:

“Empower Digital Media Participants via Blockchain Technology”

How exactly do they plan to achieve their laudable aim, especially when the industries they are tackling are dominated by a handful of production moguls?

 

Read on for the complete BUCKY House  low-down including the platform overview, who it appeals to, and the disruptive power it has.

BUCKY House  and BUCKY Coin  (BUCKY)

BUCKY House  is launching their BUC token in support of their P2P integrated platform on the Ethereum network. Through their platform, BUCKY House  is using blockchain technology to provide complete freedom and transparency for content distribution, billing, and profit-sharing. This enables users to set extremely competitive fees for their content and in turn, allows content creators to proliferate within the BUCKY House  ecosystem.

They are providing the avenue for passionate indie and small-mid sized content developers seeking funding to utilize the capabilities of the BUCKY House  platform to share and disseminate their content directly with their followers while receiving the fees they have decided on in return.

The BUCKY House  and BUCKY Ecosystem

Built on the Ethereum network, the BUCKY House  open source ecosystem is a Democratic Autonomous Organization (DAO) with the BUCKY smart contract token used for transactions on their dCSDN (decentralized Content & Services Distribution Network) platform. Furthermore, their platform is tamper-resistant, highly scalable and readily available to users. BUC is in robust compliance with ERC20 and compatible with all standard crypto wallets.

The BUCKY House  Content Delivery Network (CDN) is the first of its kind to provide blockchain-enabled P2P transactions within the entertainment and media industry. Content creators and users are brought together through content, subscriber and peer nodes under the smart contract transaction system.

The Advantages of the BUCKY House  Platform

Through their platform production houses, musicians, authors, animators, game & app developers, advertisers, bloggers, and celebrities can create their own content and services. BUCKY House  has strategic partnerships providing a wealth of eBooks, animated series, computer games, movie, TV shows, music and more to the platform which users will have access to. Contributors can make their work available to all users at fair prices where the creators receive the majority of proceeds.

The BUCKY House  ecosystem is built on the founders’ vision of “your content, your rules, your billing.”

Disruption Potential within the Entertainment & Media Industry

The BUCKY House  vision is to eliminate the need for middlemen within the media and entertainment industry and through doing so, democratize participation and distribute revenues equally with transparent billing. The ecosystem provides the sharing platform and the BUCKY token enables transactions between users with complete freedom and completely unbounded by geography, location or region.

In essence, when users sign up to BUCKY House , they step into a world market where they can upload and distribute their work for prices that they set with clear billing, and users can pay fair fees knowing that the majority of their proceeds are directly allocated to the relevant parties.

Upcoming Token sale (BUCKY)

Everyone is welcome to participate in the upcoming BUCKY Coin (BUCKY) token sale and contribute to the development of the platform. And we really do mean everyone. From content creators and production houses to freelance authors & designers, advertisers, app developers, viewers & subscribers: if you are interested in creating, promoting and viewing world-leading content, while knowing that your proceeds are going where they should be, and not to unnecessary intermediaries, then visit us today to learn more about our platform and token sale. www.BUCKYCoin.io