A new decentralized content production and distribution platform is using blockchain to ensure project founders and content creators receive fair compensation for their hard work – helping passionate and talented professionals in creative industries to earn a living.
Qravity has created a space that enables visionaries to collaborate more efficiently and profitably when developing monetizable digital media, including movies, video games, music, ebooks, and applications. It will also serve as a marketplace where consumers and distributors can purchase or rent this original premium content. Built on the Ethereum blockchain[1], the platform uses virtual tokens to securely record every project’s progress and guarantee that every team member has a stake in the project. Qravity then distributes profits derived from finished content among its creators and project founder according to their respective stakes.
The company’s founder and CEO, David Brandstaetter, explained to Cointelegraph: “Qravity tracks tasks in such a way that creative members receive stakes in the content they help make. For example, a person who writes lyrics for a song gets a share, say five percent, of the song’s revenue. Every time someone buys that song, the lyricist gets five percent of that payment.”
Content creators receive an immutable and transparent record of their project stakes in the form of a digital token known as QPT, an asset which is used internally within the ecosystem and cannot be purchased on crypto exchanges. Project founders allocate fixed amounts of QPT to tasks according to their own criteria, such as task complexity or the estimated time required for a task to be completed. Founders can also set the amount of QPT they themselves receive upon project completion.
Qravity’s cryptocurrency is called QCO; within its ecosystem, individuals and distributors can use it to license or purchase content directly. Royalties
