A study revealed that the estimated turnover of the global TV industry in 2018 would cross the mark of 500 Euros and the most traded commodity would be the video content. The MILC token is an initiative by Welt der Wunder that will open a marketplace for video content owners and producers and consumers where they can trade in a standardized manner without the intermediaries pumping the price of content at zero value addition.
The automated blockchain-optimized processes will tokenize the video content already present in a high-quality form in its cloud media library. The Welt der Wunder is a major player in Germany and other countries, they have a deep network with the high-quality video content providers. Being the market leader for so many years, the group knows the tricks of the trade and has collaborated with Swisscom and SwissTXT for a secure financial transaction platform.
MILC automatically becomes a utility token as the ecosystem is in dire need of standardization of video licensing.
Business Model of MILC tokens
MILC blockchain is a disruptive effort to bring a video licensing standard at a global level. Under the current scenario both the content owners, producers, and consumers are struggling while licensing the video content across the international borders. The licensing laws varyacross borders making it difficult for the consumers and producers to develop a common consensus of trade. The usage rights, usage periods, exclusivity, usage type, partial clip sales, broadcast frequency and all make video licensing a challenging task. The intermediaries reap the benefits of this complexity of nature of trade and charge heavy fees that may range from 30%-50% leading to a price stress in the market.
The business model of MILC tokens thrives on the blockchain bring transparency to the market and offer consumers and producers a single global platform to trade without the intermediaries.
- The MILC business model starts with tokenization of the video content. The content owner decides a smart contract and uploads the video content to the blockchain platform. The high-quality video content is uploaded to the media library on the cloud.
- A low-resolution copy of the video is made available on the platform where the consumer and view the video to make a purchase decision. The blockchain brings the security to the video content as this low-resolution video cannot be copied or downloaded.
- The video content owner selects the license conditions at the time of tokenizing the video. If the consumer wants to purchase the video content, he will have to agree to the transparent conditions of purchase laid out that include usage rights, usage periods, usage frequency and all.
- Once the consumer agrees to buy he needs to make payments in fiat (USD or EURO) or crypto (BTC or ETH).
- With the integrated exchange, the blockchain converts BTC and ETH to MILC tokens, releases them into the content owners wallet and then the video can be downloaded by the consumer. This process ensures that the video content of the owner can never be misused until he makes a payment towards it.
- The MILC platform will charge just 10% of the flat fee on the trade, a stark contrast to 30-50% fee charged by the intermediaries.
Final thought
As a utility token, MILC will bring security and standardization of video licensing and price to the ecosystem. Once the ecosystem becomes stable and the challenges posed by intermediaries are removed, the global TV industry that heavily depends on the video content for its expected trade volume is bound to grow and may even cross the 2018 benchmark of the year 2018.
To find out more, visit https://www.milc.global/
Read the white paper here.
Media Contact
Name: Hendrik Hey
Email: hendrik@milc.global
TG Group: https://t.me/wdw_milc_en
Website: www.milc.global