Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Artistokens is Positioning Itself as a Decentralized Alternative to Traditional Streaming Services

Cryptocurrency Aug 08, 2022 09:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters Artistokens is Positioning Itself as a Decentralized Alternative to Traditional Streaming Services
 
TWTR
-1.35%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

The art industry is arguably one of the most dynamic in the entertainment world and is also one of the most disadvantaged by the existing centralized system.

Over the years, creators have had to exhibit their creativity by leveraging third-party applications such as streaming services and social networks. Sadly, these third-party applications are largely centralized and, as such, control revenue generation and end up determining the sharing ratio, which often favors the platform more than the creators.

To end this decentralized art exchange protocol, Artistokens is on the mission to give everyone (i.e., users) the freedom to share, stream, and ultimately monetize different art shows or exhibitions of their choice.

The decentralized protocol is community-led and is largely controlled by a network of users who are collectively addressed as artists. These artists leverage a blockchain-based alternative to existing streaming platforms, publish content, monetize, and distribute them directly to fans.

With Artistokens in the picture, artists are not only able to bypass the existing centralized system but also maximize their earning potential while building a more intimate creator-fan relationship across the board. However, that’s not to insinuate that content creators alone are the only ones that can benefit from signing up on the platform.

Artistokens artists generally comprise three main categories of users: ‘ performers (content creators),’ ‘Fans (content consumers),’ and ‘service providers.’ While some users fall in just one of these three demographics, others may fall into all three. Regardless, the role played by users of each demographic is distinctive and attracts varying rewards.

For instance, performers or content creators are tasked with creating and uploading digital art content such as music, movie, artworks, or any other form of creativity they are willing to showcase with their fans. Fans of content consumers are on the platform to support their favorite by streaming whatever there is to stream.

On the other hand, the third category of artist networks – Service providers – are tasked with the immediate responsibility of handling application traffic and securing the network. They can equally participate in streaming songs, art, and shows exhibited by performers.

In terms of reward, the Artistokens network has its own native asset, $ART, which provides network security, as well as exclusive access to unique features, and community governance. Based on the Binance Smart Chain, the $ART token particularly aids all kinds of transactions executed within the platform, allowing holders to consume, share and monetize any art content of their choice.

Speaking on why they want to revolutionalize the creative industry, Artistokens CEO claimed that the project is geared towards helping young people showcase their talents while supporting them achieve their goal.

“The company is ready to support everyone who wants to achieve something in life. Thanks to our platform, young talents have the opportunity to be closer to the stars of sports , stage , cinema,” the CEO added.

Technology-wise, Artistokens makes use of a mono-repository where all the parts that build and maintain the protocol are contained. Particularly, developers or service providers can access the repository for features, including smart contracts, unique services, and other supporting libraries they may ever need when integrating on the platform.

Artistoken will Eventually Build its own Metaverse

Beyond creating an alternative to traditional streaming services, Artistokens ultimate goal according to the CEO is to create a “world of art game.” This also implies that a metaverse project is in the work, one that will accommodate artists of all genres alongside their fanbase.

However, unlike the main platform’s structure, the metaverse treats everyone as players who go about collecting rare NFTs, enhancing their attributes and commercializing them via a dedicated marketplace within the artistokens network.

Speaking of NFTs, Artistokens CEO revealed that there will be 3 collections of NFT – ‘Art Bulls,’ ‘Art Panda,’ and ‘Art Lions’ – distributed before the start of sale, during pre-sale, and after presale. Specifically, the CEO claims there are a total of 1111 NFT up for distribution, however, the largest portion of this, ‘Art Lions,’ will be distributed during the initial DEX offering (IDO).

Also, there is another educational feature in the works which will enable keepers of Artistokens NFT to receive non – patent discounts across Art education or sports classes organized within the network’s virtual schools or that of a partner’s schools . So far, Artistokens have successfully partnered with 75 different Art and sports schools with more to be added before the project officially launches.

In the end, Artistokens aims to motivate underprivileged creators and support them in pursuing meaningful lives through gaming and education.

To learn more about Artistokens please visit the official website, Twitter (NYSE:TWTR) or contact the team via Telegram or Discord.

Continue reading on DailyCoin

Artistokens is Positioning Itself as a Decentralized Alternative to Traditional Streaming Services
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email