Terranova Picks: MILC, Decentralizing the Entertainment Industry
2 min readThere are millions of hours of quality videos created and watched every year. However, there are still many obstacles when it comes to connecting individuals to art and entertainment.
A central issue often mentioned is the restrictive and outdated distribution and licensing rules. This is because they continue to harm smaller, startups in the entertainment business. In addition, placing significant control in the hands of select, powerful studios.
Other problems observed in the entertainment industry include:
- A lack of agility between the process of creating entertainment and delivery to the final buyer.
- Inefficiencies in commercial ad transactions that increase costs by about 30-50%
- The current global pandemic halting major programming.
Looking at this scenario, it’s possible to see a weak industry, with less variety, less innovation, and more repetition.
This is what the MILC project is trying to address. It aims to solve the important challenges of the global media industry.
Get to know MILC
The Swiss company SwissTXT, a subsidiary of the Swiss public-service television, SRG, developed the MILC platform. It aims to revolutionize the international video content trading industry.
Furthermore, the platform presents itself as a bridge between the audience, content creators, buyers, and distributors. As a result, this connection allows the audience to directly impact and receive benefits from the creation and distribution of quality new content.
The issues the platform aims to address include the global availability of all video content. In addition to the discovery process for buyers, complex licensing for the entire industry, and early feedback from its audience.
In addition, the MILC Platform’s content and media hub is an easy-to-run marketplace for any content-seller or buyer. It includes the offering, marketing, rights management, contracting, and the final delivery of the content in any imaginable technical format.
Token Ecosystem
MLT is the utility token of the MILC platform. It serves as a form of exchange within the media industry.
As such, network participants receive the token as their reward for producing content in MLT. In addition, the token holders can invest in films they like. Ultimately this creates a token-based crowdfunding model.
MILC is a great example of practical applications for decentralized projects outside of the financial sector. As decentralization grows, it will spread to all sectors and this platform is one such way it will do so.
The post Terranova Picks: MILC, Decentralizing the Entertainment Industry appeared first on BeInCrypto.
