Welt der Wunder is a major player in the media industry in Germany. It has established a broad market presence where the video content is purchased from producers and used to broadcast on its own TV stations in Germany and other countries. As a part of the professional media industry, Welt der Wunder has established a network of premium video content producers. Welt der Wunder has an operational Video content platform since years now and they are quite aware of the market potential and challenges.
Please Note: This is a Press Release
The tokenization of video content will empower the producers of the video content to trade without the intermediaries bringing down the cost of the video content by 30-50%. The market will be more transparent as blockchain Smart contracts will be the unit of trade.
Currently, the international global trade of video content is based on licensing agreement but it lacks the standardization of license terms and pricing. As a utility token MILC already has a user base ready that will lead to a direct flow of revenue once the blockchain starts.
BY utilizing the potential of blockchain and incorporating a deep understanding of the mechanisms of the international video licensing industry, Welt der Wunder is coming up with a blockchain solution for video content producer and consumers.
Problems and their solution that MILC brings
MILC blockchain initiative is a solution to multiple problems prevalent in the International video content community.
No standardization of Licensing
Being open to the international market, standardization of licensing laws has been the bone of contention between the producer and the consumer. The contract laws are different and both the parties end by redeveloping the contracts wasting a lot of time and money .. MILC is a unified platform where both parties are made aware of standardized contracts and some individual negotiations at a personal level too.
No channel for defined usage rights
The video licensing is a complicated procedure. In order to simplify it, MILC blockchain asks every producer to pre-define the usage rights, while the video is uploaded to MILC cloud. Thus consumer is always aware of how the videos can be used
Country of licensing
Every country has its own set of licensing contracts and pricing for video content. A video content in Korea may cost more as compared to India. As there is no global standard for pricing, the intermediaries exploit the producers as well as the consumers to fill their pockets making the business not conducive. MILC will standardize the price of the video content such that it is visible to all those participating in the platform. Without any guesswork, the consumers can even avail transparent pre-defined discounts for a long-term contract with the same producer.
How does the tokenization work?
The content producer uploads his video content on the MILC platform and attaches a smart contract value to it. His video content is uploaded to the existing cloud storage and only a low-resolution playable file is made available on the platform for the consumers to make an informed purchase decision.
For the consumers to get into a licensing agreement, they need to pay for the selected video. The purchase order can be completed by paying in both crypto and fiat. The internal exchange automatically converts the cash that came in after a content was purchased into MILCs. These MILCs are transferred to the content producer’s wallet. Only after this happens, the content file is released to the consumer. The platform seals the deal with just 10% flat fees which are considerably lower than the ones charged by intermediaries that go up to 30%-50%.
Final thoughts
The resulting platform brings security to the content producers and a standardization of the licensing to both the parties. Welt der Wunder is a highly reputed name in TV industry and that factor adds to the security of the tokens.
To find out more, visit https://www.milc.global/
Read the white paper here.
Media Contact
- Name: Hendrik Hey
- Email: hendrik@milc.global
- TG Group: https://t.me/wdw_milc_en
- Website: www.milc.global