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What if you were paid to read and share this article? “Pumped” is about to make that a reality.
Music and movie streaming services have managed to develop commercially viable subscription-based models. News publishers, however, have not replicated their success. This is because they have been unable to convince consumers that good quality content deserves a fair remuneration.
While consumers agree that a publisher’s investigative, editorial and reporting efforts have monetary costs and value, studies show that most consumers remain unwilling to pay for content with their hard-earned money. This leaves publishers with two tactics to generate revenue for online content: paywalls and advertising. Both these approaches are frustrating and annoying for consumers. Publishers have long been eager to find a sustainable monetization model for high-quality news content.
MulTra GmbH, a German company based in Frankfurt, has been working on a blockchain powered ecosystem called Pumped which aims to solve the problem of content distribution and monetization for content publishers. Its unique technology has finally opened the way for content publishers and consumers to seamlessly monetize content creation and even consumption.
How Pumped Enables Content Monetization Using Blockchain Technology
A news story’s “worth” is determined by the amount of attention it receives from consumers. Therefore, its value is directly linked to the consumption of its content by consumers.
MulTra GmbH has designed a new economy for content monetization through the Pumped ecosystem which rewards content publishers and consumers with MulTra Tokens (MTT). In this ecosystem, consumers are rewarded for consuming news content while publishers are rewarded for the consumption of their content. All this takes place through the blockchain-powered Pumped App, which has been under development for the last 18 months. So how exactly do you reward both content creators and consumers? Read on…
Publishers run monetization campaigns on the Pumped App with the purchase and deposit of MTT. These deposited MTT are awarded to consumers each time they perform the desired consumer behavior – such as reading, sharing, or engaging with an article – since such interaction is what increases the value of the content. The publisher sets the criteria for the desired action and the corresponding token award for each action.
Consumers can use the earned MTT in many ways. MTT can be used to subscribe to the subscription-based services of any number of Pumped content publishers or towards any number of products on the Pumped Rewards Platform. Consumers can also choose to hold their MTT and trade them on exchanges for the equivalent fiat currency value. The value of the MTT will be maintained and constantly increased as publishers, advertisers and consumers continue to inject, engage, earn, redeem and deplete the MTT within the Pumped ecosystem.
Pumped creates a revolutionary new content economy
Studies show that consumers are much more willing to pay for content when paying with rewards. This is because consumers are psychologically more willing to spend what they have been “rewarded” instead of what they have “earned”. When consumers deplete their MTT for paid-content, publishers earn MTT in return and can choose to then either re-invest them in the Pumped ecosystem or trade them in for fiat revenue. This multilayered process enables monetization for publishers without forcing consumers to pay for it.
The unique technology of Pumped sends traffic to the publishers’ own distribution platforms without forcing them to comply with the proprietary format restrictions, as is common on most social media platforms. By targeting the right audiences with an interest in their content, Pumped nudges consumers into an appreciation of high-quality news and effectively triggers their willingness to pay for content while creating new content consumption habits.
Pumped solves the misalignment in the content-access value-exchange by using the Nudge Theory by Richard Thaler, who was awarded the Nobel Prize for his work. It disrupts the traditional business processes for content monetization. By “achieving something useful for the society”, Pumped also empowers the vision of the Ethereum blockchain founder Vitalik Buterin. Pumped is respectful of consumer choice, sustainable for publishers and built to scale rapidly.
An Ethereum Media Alliance is already being formed that shares mutual common purpose and quality standards to interact with premium online content from trustworthy sources. This community of publishers and consumers will find a home at the Pumped Residence for in-person exchanges, meetups and intensive workshops to align consumers behind the success of publishers.
Unique aspects of the Pumped MulTra Token ITO
An Initial Token Offering issuing the MulTra Token (MTT) will start 19th February 2018 at 15:00 CET. Funds raised in the Pumped ITO will essentially cover the costs of creating, developing, and operating the worldwide infrastructure of the Pumped Economy. The MulTra Token (MTT) will be listed and tradable on major exchanges in Q2 2018. Some unique aspects of the Pumped ITO are as follows:
- MVP is Already Built
While many ICOs have future product development plans that rely on the success of their fundraising, MulTra GmbH has already developed a unique technology-based Pumped MVP.
- Immediate distribution of MulTra Token (MTT)
Usually, companies that launch an ICO raise investments to pay for machines which execute the requested token mining operations. That process leads to delayed token delivery of up to 10 weeks after investors have purchased the cryptocurrency.
MulTra GmbH has already generated all the MulTra Token (MTT) in accordance with the ERC20 Standard on the Ethereum Blockchain in November 2017. For this reason, participants in the Pumped ITO receive their MulTra Token (MTT) immediately.
- Preventive compliance with capital market law
Although financial regulation is not applicable to the Pumped ITO, MulTra GmbH and its legal advisors have already submitted the relevant documents to the regulatory authorities. MulTra GmbH has even published a Token Offering Document additional to their Pumped whitepaper. This approach keeps the Pumped ITO ahead of the curve when regulations come into force.
- ICO made in Germany by a disruptive company
Led by CEO Onik Mia and an excellent team of some of the highest-profile German professors, lawyers, CEOs and media consultants Pumped has been developed by MulTra GmbH based in Frankfurt, Germany. MulTra GmbH provides innovative and disruptive solutions to clients that include Samsung, Deutsche Bank, BMW, Lenovo, Huawei, Sky, GlaxoSmithKline, Johnson & Johnson, and many more. MulTra GmbH is not new to creating disruptive business models; that’s what it does!
You can join the Pumped ITO before it gets listed on exchanges, benefiting from its increase in value as it completes each milestone outlined in the Pumped whitepaper. Secure your profits and be part of the new content economy!