As a former DJ and music producer, I am always on the hunt for interesting projects that allow creators to monetize their work without the interference of centralized parties. This experience was one of the major roadblocks in my music career, and I believe that the future of art depends on creators having the ability to directly interact with and monetize their fanbases. This was a project that I happened upon and found interesting.
Blockchain Music Entertainment (BME) is a collective of developers from around the world who are contributing to the decentralization of the entertainment industry & empowering those who create. For context, MP3 revolutionized the way music is listened to and shared around the world. MP4, the daughter company of BME and sister of MP3 is the next phase of development, tackling the film & content industries and taking oracles in a new direction.
MP4 is the utility & value token for the Film/Content Industry DAPP – essentially a social media platform where influencers, filmmakers, and content creators can tokenize themselves and their media to interact with web3. Through MP4, filmmakers and influencers have access to a worldwide network of investors to support their creative endeavors. What MP3 does for the music industry, MP4 does for the film/visual content industry.
“We are building a suite of DAPPS to decentralize the entertainment industry, based on a bonding curve curation market. With the blockchain tools and tech we have now, we can put financial and worldwide marketing power into the hands of artists while keeping the rights to their music out of the hands of the record labels.” – MP4 Founder
Bonding Curves
By building a custom profile, content creators are able to tokenize themselves as well as any product, service, or subscription they wish to sell. This is facilitated by deploying personalized oracles using a bonding curve curation market. The bonding curve is a liquid DEX where algorithmic market making is used to facilitate the interactions between service/product providers and consumers, fans, or investors. It acts much like a decentralized reputation tool, and also eliminates many of the barriers to entry holding back the tokenization of the world.
Picture YouTube & Tik Tok meets Patreon, Oracles, & MetaMask. Every time a customized oracle is deployed by a content creator, there will be a 6% tax that goes directly to a treasury wallet and is distributed back to token holders. MP4 is a decentralized platform that rewards content creators as well as their supporters. Now talented film and content creators can pitch their ideas to a worldwide audience of investors on the blockchain and make their creative vision come to life.
Introducing the Initial Film Offering (IFO)
Independent filmmakers using the MP4 platform will be able to create a profile and pitch their vision in video format. They can then easily tokenize that dream on the blockchain with a click of a button. Investors from around the world can now see their filmmaking endeavor, and they can invest in the film to help make it a reality. The key here is utilizing a ‘positive slope’ bonding curve curation market; this creates an incentive for speculators to find and bond to what they believe will be the most valuable films offered by independent filmmakers.
Links:
MP4 Website – https://mp4.social/
AMA – https://bmegroup.medium.com/live-ama-w-the-gem-hunters-tgh-c03cebda6992
MP4 Twitter – https://twitter.com/mp4social