Flickto births DeMe – Demystifying the future of Media

What is Decentralised Media?

DeMe or Decentralised Media refers to a host of  Media corporations that are being propelled through being set up on Blockchain Networks, most notably Flickto, a Cardano media-incubator are the creators of the DeMe movement; stated that media should be open source and owned by stakeholders such as consumers, creators, and their intermediaries. Flickto aims to utilize the ideas of DeMe to create an open-source platform that gives people full control and authority over their data, the media projects that are created, produced, funded, and ultimately distributed through its innovative voting system that will be launched on its platform.

Its main principles of DeMe are that it is:

• Censorship-resistant 

• Permissionless

• Final and Fluid 

• Open-source

DeMe will rely on digital assets, such as ADA to provide platforms to establish themselves. DeMe’s main improvement on traditional media outlets is that contrary to the formulaic approach that is used by Hollywood where TV, Film, and Documentaries lack originality and diversity, Flickto will be implementing DeMe in such a way that it will no longer fail the creators who have to conform to a current revolving door of the cookie-cutter content rather they will have complete creative control to tell their authentic story, and the community will get to see greater representation, originality, and inclusivity. DeMe will re-connect consumers with the media, in an era where a few corporations hold the power.

Advantages of DeMe

Traditional media relies on institutions such as production studios and Media Outlets to act as intermediaries to provide content. 

“ The biggest advantage of DeMe is that it’s permissionless to participate in it, the rules apply to everyone, with all participants having an equal chance to participate in voting rounds and all creators have the same opportunity to receive funding regardless if they are a Film director, Musician, actor, etc. The second advantage is that the liquidity is ‘borderless’ anyone can access Flickto’s project as they all have access to the market from anywhere & any time of the day Finally the Creator and Community both benefit from receiving passive income “

1. Built on the blockchain, means it will benefit from all the advantages of the networks that host them such as the elimination of a single point of failure. 
2. Easy access for individuals such as underrepresented communities and those from low-income communities who under traditional circumstances would not have access to the early stages of media financing as it doesn’t benefit from the intermediaries 

Challenges involved in DeMe

Like its financial counterpart DeFi, the ecosystem is still in its infancy and will have certain challenges it will need to overcome as it continues to evolve.

The industry will have to deal with:

Lack of data: Flickto is the first of its kind, Prior to embarking on this mission, the media industry was closed off, consumers had previously only been purview to Budgets and Profits of Blockbuster films. Flickto will aim to make this more transparent with case studies on how projects are valued, and the corresponding costs associated with distribution.

System Failure: Since the ecosystem is not fully established, users need to minimise the risk of potential failure. The last step towards this goal is currently being looked at such as verified smart Contracts.