Hello all,
I would like to open discussion on an idea I am developing.
First of, my background is in audio engineering and music production. I know first hand all the work that gets put in to the creative process, from idea to actualization. The big issue is creative content being properly monetized.
We all know Youtube has made many negative aspects of centralization visible, to the crypto-space, but also creatives of all likes.
I was watching a video of a musician breaking down a re-harmonization cover of a song. The song was re-envisioned, properly covered, and provided intellectual conversation of the theory of the piece. In standard copyright law (USA), you can cover any song you want, sell the album, and pay $0.09 per album sold towards the original copyright owner, no special permissions required. YT instantly will demonetize the creative contributor’s content and pay the copyright owner all revenue.
This issue has popped up many times in the audio community, even has had influencers attend Senate hearings to plead their case.
I know there have been talks of decentralized media platforms, yet there are many issues with media based chains. Media tends to carry much greater bandwidth to store the content.
I would like to propose a platform where all content providers will maintain and host their own media (much like Nano token has each wallet maintain its own blockchain), hash the media to the main chain (media isn’t stored, but only hash of media file).
Validators on the chain would have to stake, and verify that the content is original. A form of slashing would incentivize proper verification of material, and will be rewarded for their work.
There would be a pay per play mechanism as well as rewards for contributing verified original work, so just uploading verified content could earn rewards.
My idea is being developed in the process, so there absolutely holes to fill. Sorry for the lengthy post, but I would greatly appreciate any criticism early on to provide perspective on what I am not considering, and if you steal the idea and implement it better, well, we can use new solutions!