Blockchain firms such as Steemit and ASKfm are joining the content marketing industry in order to decentralize the industry from big players to the publishers of the content.
There has been a significant growth in the content-marketing industry in the last few years. The internet audience is never holding back themselves in appreciating their unique content and advertisements. As per the Interactive Advertising Bureau (IAB), the digital advertising industry revenue has reached an all-time high in 2017 at $88 Billion USD, showing a 21.4% more growth when compared with 2016.
Problems faced in Content Marketing and Digital Ad Industry
One of the major problem faced in the content marketing industry is centralization. The present system is highly influenced by the big firms in the world where publishers receive very little profit for their efforts. Publishers and creative content creatives share their content on social media (almost for free) and their content is monetized by the intermediary who connects consumers and content creators. This makes system imbalanced because creators don't get benefit from their content.
It can be observed that various digital ad revenue companies like YouTube, Facebook, Twitter, Instagram, and other platforms collect, however actual content creators don't receive any profits. The firms place an advertisement about the content, earn revenue from it and then remove owners of content from the system.
This daunts the development of content by publishers keeping poor quality content on sites. Moreover, the intermediaries possess rights to censor content which suppress the freedom of speech of the publishers. Hence, there is a requirement of a solution to promise freedom of speech and the monetizing of content by publishers is enable.
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Blockchain Technology provides a solution of Content Marketing Problems
Blockchain Technology is a decentralized system which allows a peer to peer connection by removing all the intermediaries in between. Some of the most amazing content marketing blockchains are Steemit and ASQ protocol.
The Steemit Blockchain
The Steem Blockchain is a platform which provides monetization of published content and creative content on the platform. The blockchain operates on Smart Media Digital tokens, STEEM, which are also used as a reward on the system. The published content on steem should be unique and creative. These users publish more content on the platform by adding more value to the blockchain by inviting more users on site. Content is then kept for curation, users are given chance to vote, report scams, and flag posts for ranking the content.
The ASKfm- Backed ASQ Protocol
This protocol enables users to directly monetize the content without even depending on the advertisement revenue. The consumers order the content for the ASQ protocol, here they have to pay using ASQ tokens. This enables creators to get paid for their value. This is almost similar to buying music from iTunes.
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The firm provides its service to 215 million users worldwide and more 45 million Ning users which offers a possibility to outrun Steemit in the field of content marketing. Also, ASQ project can be customized as per the need of publishers and consumers.
From above, it is clear that by integrating blockchain into the content marketing industry offers great chances to solve the consistent problems faced in the industry.