Content Delivery Meets Cryptocurrency Rewards

The Rhovit platform offers an elegant solution to content delivery that empowers users and content creators with a cryptocurrency based rewards mechanism.

The world we inhabit is changing, and it’s changing fast. Media, once constrained to physical copies, cable networks, and movie reels, has been liberated by the internet. New systems have come to rise that are quickly laying waste to the old structures that once prevailed as consumers cut cables in favor of content streaming services.

Similarly, digital news has supplanted the newspaper and magazine era, relegating the former mainstay print business to ever diminishing niche markets.

A Bright New World Of Digital Media

The scope of services and networks have continued expanding. In today’s media rich landscape, we have our choice of platforms to turn to for entertainment. Alongside the old networks and cable channels a diverse collection of options have bloomed on the internet.

It became clear to the companies licensing mainstream media that a delivery system must rise up to tap into this new marketplace, and so Netflix, formerly a DVD delivery service, began to stream a growing library of its content online, and meanwhile the once free ad-rich Hulu site transitioned to a subscription service.

In this proliferation of content creation, paradigms shifted. A new type of celebrity sprang up as YouTube streamers began to amass millions of followers. People who never had a voice before were suddenly given lease to start their own blogs, and by becoming popular and building huge followings to the point where they became acknowledge by the mainstream, they transformed from bloggers to influencers.

Catering to these individuals, platforms like Tumblr, and later Medium became a relative soapbox for anyone to share their passion, expertise, or concerns with a wider audience. As time passed other services emerged where content contributors can earn rewards from the charity of the crowd, or generating posts such as Steemit and Trybe.

While streaming media services and digital publications thrive, we’ve seen some relative giants emerge, but even huge platforms like YouTube don’t come without their thorns.

These days content creators can’t seem to catch a break thanks to murky copyright claim systems that often lead to the demonetization of their content.

Meanwhile, authors who spend time and effort to write valuable articles may never see more than a few dollars for their overall efforts on blogging platforms. Millions of people may read an article, but that doesn’t guarantee the writer will see anything substantial in return for their contribution.

On the other hand any users who consume content on the range of platforms out there, and are responsible for generating ad-revenue, see nothing in return for their participation. They are often mined for their private data that is sold in huge blocks to corporations.

This value doesn’t return to the users, but instead helps to propagate the very system that keeps tabs on their data points to track trends in commerce.

By implementing a system that rewards both content creators and consumers participating on the platform, Rhovit sets itself apart.

The Challenges Behind Building A Dynamic Network

Right now, Rhovit is building an entertainment, news, advertising, and broadcasting network that rewards content consumers and creators with a meritocracy system. Using Rhovit’s unique incentive driven platform, content creators can tap into a new income vector and earn passively based on the popularity of their posts.

Unlike Trybe, Steemit, and Medium, Rhovit gives readers and authors a means to earn rewards simultaneously. However, when compared to other more established content delivery platforms, Rhovit lacks a robust library of articles and videos, and sharing content on the platform isn’t as cut and dry as it is on competing sites. The team is still at work developing solutions to these obstacles.

Another issue Rhovit faces revolves around the free Points offered to users so they may unlock content. Each Point is worth half a cent, and when users spend them 100% of their value goes directly to the content creator. When those Points run out, users will either have to wait for the next weekly Point disbursement, or pay to get them right away. This might cull some of the participation on the platform after the initial free Points are spent, possibly limiting the scope of earnings for content creators.

Users themselves dictate the rate of rewards that content creators on Rhovit receive. Since there is a “payment” in the form of Points for each view it means that the number of views directly relates to actual profit the author takes home, but it also may result in lower overall views when comparing metrics to those of other sites.

Despite these challenges, those with followings who are fed up with platforms such as YouTube may see Rhovit’s meritocratic rewards system as a viable alternative to having their videos irrationally demonetized or taken down. A smaller library of content now means that content creators have a first mover’s advantage in this burgeoning ecosystem. In addition, giving users the option to purchase more Points when they run out of free Points will satisfy any latent demand in the marketplace.

Keeping Users Engaged With Rewards

Users who peruse the platform are incentivized to keep clicking so that they can cash in on the Rhovit cryptocurrency program. Points are distributed to every user each week, based on each user’s participation; the more Points you spend, the more will be distributed to you.

This means you have to spend them to earn them, and with tons of articles ranging across a wide variety of topics and videos to choose from you’ll have no trouble doing it.

Spending Points to unlock articles and videos does more than reward content creators. For every 2 points a user spends they earn 1 Loot, and once 20 loot are accumulated you’re rewarded with an RBIT token, a cryptocurrency on the NEM blockchain that will be traded on major exchanges. Claim your RBIT tokens to send them to your NEM wallet, or keep them on the platform and turn them in for exclusive content like comics, videos, digitals goods, and more!

Each new user who signs up unlocks a special bonus of 50 Points so they can get the ball rolling and curate their own customized content stream from a growing range of available articles and videos. Spend Points to make your own content collection based on your own unique preferences.

By building a meritocratic rewards system, Rhovit allows those who meet the demands of content consumers a chance to thrive. Content creators have a competitive advantage in the early days of this burgeoning ecosystem. To find out more about about becoming a content creator log on to rhovit.com today.

Disclosure:

The author consults with the Rhovit team and has a vested interest in the project.

Content Delivery Meets Cryptocurrency Rewards was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

Publication date: 
05/20/2019 - 10:07
Author: 
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