LETITPLAY - The Audio Layer of The Internet
A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, LET IT PLAY which is a decentralized platform with attention economy which allows any new portal, blogger of community to easily create, distribute and monetize audio versions of their content has arrived.
We are creating a decentralized ecosystem with attention economy, which allows any news portal, community, blogger or website to create, distribute and commercialize audio version of content. Yet, even content as popular as news is far more likely to be found in text or video form, and audio content on the Internet remains a second-class citizen. The main reason is that production of audio content brings no direct pro ts to the Content Providers, and requires additional investment into its production. LetItPlay provides a solution to this problem. LetitPlay is backed by EOS blockchain technology. Decentralized nature of this solution allows us to implement a genuinely transparent and fair attention economy designed to reward content creators for consumer attention to content, including listens, likes, comments and reposts. Similarly to what Steem has done for text content, LetItPlay will do for audio.
LetItPlay prepares the Internet for it’s audio future by creating a decentralized ecosystem with attention economy which allows any news portal, blogger or community to easily create, distribute and monetize audio versions of their content.
LetitPlay is developed using blockchain technology, thanks to which content authors will be rewarded for the attention of users to the content: listening, reviews, comments and messages. Like Stim and the Voice. This will allow not only to recoup the production of audio content, but also to gain access to a new channel for distribution and monetization of content, to reach a new audience.
LetitPlay within its ecosystem will bring together not only content authors and regular users, but also service providers, those who will help create audio content: speakers, audio editing studios, translators, editors, etc. This means that any news portal or blogger can create audio content not only for yourself, but also with minimal effort, because this will be enough to hire your favorite student and choose the right voice to prepare audio content.
Letitplay ecosystem is created as open as possible, so it can join other developers of specialized applications and services - content distributors. On the LetitPlay block-chain, applications for music, audiobooks, audio guides, etc. can be created. And in the future, after small improvements, LetitPlay will understand the same saving of attention in many other areas: video, games, even.
All payments between members of the ecosystem will be conducted in the local currency Play, in which the authors are rewarded for the attention of users.
Automatic aggregation of existing audio content. LetItPlay creating adapters for various content aggregators to import it to LetItPlay automatically. Automatic voicing of news by synthetic voices of text news. Attraction of separate consumer categories with development of news content and popularity statistic. Voicing by live human voices for top mass media.Engagement of bloggers. They generate their own content and attract audience to LetItPlay. LetItPlay will allocate Play tokens from the community development fund to content providers, so that launch an internal economy.
THE CRISIS OF VISUAL PERCEPTION
Visual Perception is exhausted! Youtube and TV, books and blogs, facebook and video games have overtaxed our sight. And yet content grows more and better and we do not have the time to appreciate it.
GOOD OLD AUDIO
On average people have 3 hours per day for audio. How about you?The majority of content can be heard rather than seen without any information loss: news, blogs, books, articles, etc. Let’s say you are driving and ask LetItPlay “Give me a 30-minute digest of the latest news” or “Suggest movies playing this weekend”. LetItplay then compiles a 30-minute playlist based on your request and personal preferences. And your time spent driving is never wasted time.
WHERE TO GET SO MUCH AUDIO?
Less than 1% of information is available as audio: podcasts, audio guides and audiobooks. While the remaining 99% of the Internet is silent: news, blogs, books, articles, etc. Blockchain LetItPlay will solve this problem with the help of the attention economy.
ADVANCED ATTENTION ECONOMY
In LetItPlay we implement attention economy similar to Steem but more complex and balanced to take into account interests of all acting parts in the ecosystem. The basis of attention economy:
Consumer with his attention determines the content value
The valuable content should be rewarded
Consumers are different and their attention has different value
Play and PlayPower
An utility token for payment transactions in the ecosystem
Play tokens will be emitted as a reward to Content Providers according to Consumers listens, likes and shares
Determines user influence in the Ecosystem
It is also a powerful competitive tool to win the Consumers attention
The amount of PlayPower also determines the weight of vote for decisions in decentralized governance
PlayPower determines the value of the Consumer attention to content and Ads
PlayPower affects Service-providers rating in marketplace search results
The reward for Distributor for delivering content to Consumer depends on his PlayPower
The amount of emitted reward depends on PlayPower. High PlayPower increases the probability for content to be recommended to Consumers
Advertisers compete with each other for the Consumer attention via PlayPower. Higher PlayPower leads to higher probability of delivering ads to Consumer
PlayPower determines the weight of vote for decisions in decentralized governance
More than 100 Content Providers has already joined to our platform and are creating content for you every day Our web-widgets have been used more than 1 million times More than 2000 audio tracks are added to LetItPlay per month: news, blogs, education, fun and much moreAll of these can be found in our mobile apps for iOS and Android that are already available for download.
Having consumers, producers and service providers within one ecosystem will drastically change audio content market.
New freelance opportunities will be created for narrators, editors and translators
Service Providers will get access to global market
Service Providers will get a stable commission source.
Consumers will get tons of quality content.
The cost of audio production will decrease by an order of magnitude (falling below $1 per minute)
Audio-version creation time will decrease down to 30 min.
Content Providers will get an affordable and fast way of audio production.
Distributors will get a unified source of content to use in their apps.
LetItPlay PLAY ICO
The playhead is an ERC20 based on the network chain. The date of sale of the Ethereum ICO token will be from April 2 to June 1, 2018, the tokens will be divided into four stages at the time of sale. 60% of the 1 000 000 available PLAY tokens will be available for purchase during a public sale.
Total supply: 1 000 000 000 PLAY
Tokensale stage I (ETH) : 1 MAY 2018 – 15 JUN 2018
Token price : 1 ETH = 10 000 PLAY
Bonus stage 1 : +20% PLAY UP TO 7 MAY 2018
Bonus stage 2 : +10% PLAY UP TO 14 MAY 2018
Bonus stage 3 : +5% PLAYUP TO 21 MAY 2018
15% Ecosystem fund
1% EOS sharedrop
36% Product development
35% Community development
12% Reserve fund
Andrey Durakov: CEO
Kirill Yurkov: CTO
Grisha Klimov: Web and Cloud Expert
Aleksander Drem: Business Development
Danil Gubaydulin:Product Manager
Vadim Kropotin: Product Manager
Anastasia Sumergenova: Content Manager
Igor Demin: Community Manager
Victor Borodulin: Community Manager
Alexey Tyurnin: iOS Developer
Salavat Gazizov: Full stack Developer
Daria Badanina: Android Developer
Alexey Krayev: Blockchain Developer
Polina Abrosimova: iOS Developer
Design and Marketing Team
Alexander Klimov: UX/UI Designer
Anna Shekhtman: Designer
Anna Osokina: Designer
Alina Ibragimova: Design & Marketing
Kevin van der Veer
Justin Fondriest (Fuzzy)
Da Vinci Capital
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Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.