Source: Circles Project Blog
Over the past few years, individuals who used to create content for a living on entertainment mediums have been subjected to loss of profits because of factors that include: controversy, lack of support from a hosting website, or even trending list manipulation. These individuals being content creators, are forced to reconsider options to help their financial situation after it has changed or been disallowed due to the content within their videos. Signing onto advertising companies, switching to a less popular entertainment website, or losing their vision just to stay afloat is becoming more prevalent within the entertainment sphere.
Because of this, the Circles Project team is working to create an easy way for people to share and promote content creators’ work, while earning dividends for both themselves and the content creator, as the video or article is shared. The idea is to allow the community of a specific medium or topic to help spread popular or quality content with others in order to give the content creator more views, and by extension, more profits, for producing quality material. By sharing or “circulating” an article or video for example, people will be able to promote the content they deem worthy of recognition and in turn, earn small returns based on how many times that content is “circulated” again after they had promoted it. This way, users are incentivized to circulate content to help the creator as well as themselves.
Because we would like content creators to be rewarded for making quality popular content, Circles will exist as a means for users to find media they like and will provide a way for the owner to earn profit outside of the medium the media was published on. This will allow for better community input on what content will be shown as popular, instead of allowing large companies such as Youtube to populate popular listings with the company’s own interests. Without the video platform company in charge, content creators will be able to create what they want, without having to worry about an advertiser or company stepping in to prevent them from profiting because their work is deemed “unacceptable.” In the case of Youtube, the owner of a video considered unworthy would not be allowed monetization of their content, thus cutting profit out of their work. Because of this, the content creators can be at the mercy of these companies on whether their work is quality or acceptable enough to earn money through the platform. In doing that, Youtube decides which videos are subjected to monetization and which are not.
The Circles Project utilizes Circles: an ERC20 Token operating on the Ethereum Blockchain to be used for the dividends and tipping system the project’s smart contract will orchestrate. The goal is for users to easily find, explore, and share content they like without extra hassle. This will be handled using a browser extension (resembling Metamask) to avoid forcing the user to download a new browser or software piece. The first browser supported on the Circles platform will be Google Chrome, due to its dominance in the web browser field. Then after a working model is completed on Chrome, the team will move on to providing support for other popular browsers as well.
The Circle Project’s code will be available for interested participants via Github. Additionally, the token launch contract and address will be provided ahead of the sale and publicly available no later than September 1st. This is for ensuring transparency and trust with investors, should they decide to participate.
Token launch will begin on September 18th 2017 at approx. 13:00 GMT.
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