Leading blockchain platform FLETA has entered into a contract with the content revenue distributor Stream Protocol for developing a blockchain mainnet. This mainnet will run on the FLETA network and support the Stream Protocol services. FLETA is also expected to provide overall project consulting for mainnet development. It will also assist Stream Protocol with the adoption of blockchain technologies for establishing a robust Stream Protocol crypto ecosystem.
As of 2020, Stream Protocol is currently operating as a system that accurately distributes the revenue of OTT services. To do so, it uses a Content Smart Contract of a blockchain network that solves the inaccurate income sharing instances and improves the efficiency of content production processing for the entertainment and media businesses. Since the onset of the COVID-19 pandemic, Stream Protocol has witnessed rapid growth in the demand for contactless online media services. The global media and entertainment market is transforming its content ecosystem due to the increased total revenue of the OTT services.
Most of the profit from these services get distributed to a handful of micro-platforms and independent producers. Hence, several other contributors only receive a negligible amount from their actual payments. Stream Protocol’s revenue distribution system fixes these discrepancies and ensures all content contributors get the payments they deserve with a clear and reasonable revenue processing mechanism.
Stream Protocol uses blockchain technology to store the revenue information and disables others from modifying it. Due to the security advantages of blockchain networks, the stored data stays protected and gains reliability as well as credibility.
Like popular cryptocurrency trading platforms such as CryptoSoft, this blockchain-based ecosystem uses the tokens (STPL) and allows viewers to pay for their contents via this cryptocurrency. Creators can use these STPL tokens and earn rewards for their content production. Now, this virtual revenue cycle on the Stream Protocol ecosystem needs a strong blockchain mainnet for seamless execution.
Hence, through this partnership, Stream Protocol aims to build an STPL ecosystem where all participants earn as many profits as possible. Together with FLETA, Stream Protocol’s revenue-sharing OTT platforms will become more distinctive and run on a shared internet economy. FLETA understands the opportunity of building a blockchain mainnet for the media industry during such times. This blockchain mainnet development contract between FLETA and Stream Protocol will bring more efficiency in the revenue distribution cycle across OTT platforms.