Struggling Artists, Take Heart: Blockchain Can Help You Too

There’s something romantic about the notion of the struggling artist. Sketching portraits in the cobbled streets of an aging city, scribbling novels by candlelight in a dimly-lit apartment, eating noodles from a cup… Who doesn’t love a struggling artist? Struggling artists, for one.

Let’s be honest. Writers, actors, dancers, singers, filmmakers, creative types in general… most of them put in hours of endless slog for very little reward.

Once the door of opportunity slams in their face enough times, they begin to buy into the belief that “making it big” is a mere pipedream. Or that they have to be incredibly lucky to get ahead in this world. Well, being lucky may help. But then again, some people say you make your own luck.

Struggling artists of the world, take heart. Blockchain has a service for you, too.

Get Rewarded for Your Work

Social media has opened up many doors, undeniably leveling the playing field for independent artists. Anyone with a smartphone and an internet connection can add their contribution online. But while they may get their content on the net, that doesn’t mean it will be seen – or that they’ll get much financial reward.

The trouble with mainstream video platforms is that content creators are only paid if they generate a high number of views. YouTube, for example, pays around $1 per 1,000 views. But with blockchain technology’s ability to monetize smaller transactions, that model is beginning to change.

POP Network is a blockchain-based, peer-to-peer video sharing platform that will allow for micropayments in cryptocurrency beyond one billionth of a penny. Not only will artists be rewarded for their work and every view and engagement, but the network will help content contributors find opportunities outside the traditional Hollywood or digital ecosystem.

Enabling Content to Flourish

Verasity is a next-generation video sharing platform with a similar objective – not only to reward artists for their work, but to cut out the middlemen taking chunks of their profits. David Orman, its CEO, explains:

We want viewers to use our VERA currency to pay content creators, directly, through the touch of a button in the video player. Just by clicking a button. Content owners can choose to accept donations, switch on pay-per-view, or enable subscriptions. This flexibility allows content to flourish as well, ensuring creators can find the right model for their business.

Verasity is also aiming to help producers and publishers create new content through its ‘‘Spark Marketplace”, which uses smart contracts to enable fans and followers to support and finance the growth of their favorite creators. Orman enthuses, “We are developing the VeraSpark system as a tool to help all creators, so they can finance anything from needing new camera equipment all the way to creating a feature film!”

How is Blockchain Being Used to Do This?

Blockchain’s ability to monetize the most minute of transactions and cut out intermediaries through smart contracts is fundamental. But its proof-of-work is another key element.

Verasity’s own blockchain technology will eliminate another of the biggest problems with existing video platforms – fake views and bots. Advertising fraud is big business, set to cost advertisers an eye-watering $19 billion this year alone.

With a patent-pending Proof-of-View (PoV™) technology, blockchain can eradicate fake views and bot traffic by providing ‘true’ media accountability. By eliminating fake views and bots, Verasity’s platform solves many problems that exist today including “distorted content recommendation, ad-fraud and even the promotion of fake news.”

So, unless you secretly enjoy working for free or getting paid in beer, blockchain technology is offering new opportunities to monetize your work. You don’t have to ditch the cup noodles if you really enjoy their taste. But at least now you can eat them with a silver spoon and perhaps a glass of champagne.