A blockchain-powered platform called "Snapparazzi" is set to be launched as a decentralized independent media sharing & advertising forum where users get paid for the media content they generate. The platform is expected to address the problem of incomplete media coverage.
When an event of political, social or entertainment value occurs randomly somewhere in the world, a TV or news crew is not always there to capture it. Now, anyone with a smartphone and the Snapparazzi App can record exclusive photos and footage of newsworthy events which can be sold to TV, newspapers, and other media outlets.
"SnapReporters" around the globe will receive notifications to inform those close to the scene that a video opportunity has arisen using the geolocation technology. The platform will enable media companies to buy exclusive footage in real-time and in a very cost effective way.
The Snapparazzi platform could disrupt the video-on-demand and digital ad spending markets, which will be worth $90 billion and $291 billion respectively by 2020.
Snapparazzi's media content market is powered by the native digital utility token SnapCoin (SNPC). This Ethereum-based token is used for every transaction and facilitates payment within the Snapparazzi platform.
Once the buyer and the seller agree on the content price, in an open auction-type process as per the terms of the Smart Contract, buyers pay for the content in fiat currency. However, the content creator will in turn receive the payment in the native SNPC token.
Snapparazzi earns money by charging commissions on the transaction value of the generated content.
The Snapparazzi Token Pre-Sale began on September 14, and will last until September 24. It already raised $5 million in a private sale. The Initial Coin Offering will take place between October 1 and October 29. A total of 735 million SnapCoin tokens will be on issue.
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