[DOC] Management of media assets (NFTs) & donations in KCS by creators with FreeFlix Media - Requirements document

[svabhishek]

Type of Proposal

• Feature Request (e.g. functionality)

• Economic Model

• Underlying Technology (e.g. performance)

• Application Development

• Others

Background

Common man, couldn't invest in media assets (namely a film or a song by an artist, etc.). Although there are crowd-funded platforms to encourage running campaigns, they do not have the infrastructure to handle digital assets.

FreeFlix Media Hub aims to build the infrastructure to manage these media assets and enable creators, studios & agencies the ability to create, manage, distribute, monetize & measure performance of digital assets across platforms.

This infrastructure needs early adoptors from a market that understand the potential of these media assets which are non-fungible tokens or NFTs.

Describe The Proposal (No more than 50 words)

This is a proposal to connect KuChain with a blockchain based media module, on the FreeFlix Media Hub, for creators to manage media, raise and gain support from investors & participants respectively, as per the terms defined by creators in the smart-contract.

Additional Overview

Implementing this will mean the user interacts with the FreeFlix Media Hub and use KuChain to trade media assets (NFT), if the module is implemented by either the KuChain team or the FreeFlix Media Hub team.

These NFTs can be exchanged in a p2p manner or can be open to bids for licensing or sale via the FreeFlix Media Marketplace on the FreeFlix Media Hub connected to the KuChain.

Modules to implement on KuChain are:

1. Cosmos IBC module on KuChain to interact with the FreeFlix Media Hub
2. NFT module to handle assets

Below are the modules required for the implementation:

1. Blockchain-based media module

• required to generate media assets / NFTs
• required for exchange of media assets / NFTs within the KuChain chain

2. Cosmos IBC for cross-chain exchange of assets

Process

The implementation possibilities are many. Below are the practicals ones listed:

A) Creator accepts KCS on the FreeFlix Media Hub to license/sell content (NFT)

1. Create an asset (NFT) on the FreeFlix Media Hub
2. Accept KCS on the FreeFlix Media Hub for licensing/sale

B) Use content (NFT) on the FreeFlix Media Hub on KuChain to license/sell

1. Create an asset (NFT) on the FreeFlix Media Hub
2. Transfer the asset (NFT) to KuChain for licensing/sale

C) Use FreeFlix Media Suite on KuChain to mint & manage NFTs

1. Implement the FreeFlix Media Suite modules on the KuChain for asset creation, management, licensing and exchange
2. Create an asset on the KuChain using the FreeFlix Media Suite
3. Trade/license on the KuChain with a SaaS-like base fee per month for the software (paid by the user) with a fee decided by the community of KuChain via governance

Giving flow to the above activities:

1. Creator creates a Content Campaign (a smart contract) with the below terms:

   • Requires a budget of 1000 KCS to create a video for a video on YouTube/dTube:

     • Accept 500 KCS from 50 donors @ 10 KCS per donor and reward donors with 1 Creator Token (CT) for 1 KCS (and for 500 KCS, 500 Creator Tokens are minted)

     • Will accept 500 KCS from 5 sponsors/advertisers @ 100 KCS each

     • Sponsors/advertisers are accepted only if they lock 250 KCS tokens per sponsor, for a milestone based sponsorship.

       This can be set in a model where 50 KCS are to be sponsored to the creator for every 1M views, capped at 5M views, within a timeframe/campaign duration of 1 month (bringing the maximum campaign budget per sponsor/advertiser to 350 KCS)

     • Mint Creator Tokens with the sponsorship value & also donate half (50%) of milestone-based sponsorship to campaign donors for their support to the creative project. This means, 25 KCS out of every 50 KCS received after reaching every 1M views is donated back to users along with Creator Tokens

2. Creator invites donors & sponsors/advertisers to bid on the FreeFlix Media Hub:

3. After donations & sponsorships are triggered, the creator creates the content and publishes it to the desired platform(s)

4. Considering the stats after 1 month (campaign duration):

   • receives under 1M views

     • No further sponsorship is triggered to the creator and locked KCS is returned to each sponsor
     • Creator Tokens (as minted for 500 KCS) are distributed to donors

   • receives between 3.5M views

     • Two milestone-based sponsorships are triggered from locked tokens (i.e. 100 tokens by each sponsor = 500 tokens)
     • Creator Tokens (as minted for 500 KCS) are distributed to donors
     • Half of 500 KCS sponsored by sponsors (250 KCS) is donated to

Business Model (Optional for underlying technology)

• Current model of revenue is when users pay a fee to run the crowd-funded content campaign. Since we believe in making money only when creators make, we charge a fee from the creator for the entire campaign.
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• Other sources of revenue include, implementing the current FreeFlix Media Suite for users on the KCS Network. This media suite enables creators, studios and agencies to automatically create content, manage all the data and media file and distribute all of it as a linear broadcast to various platforms.

Implementation Steps (Optional for economic model)

FreeFlix Media aims to use the below flow of events as a high level reference for the implementation:

1. Creator & consumers register on the FreeFlix Media Network
2. Creator mints his own tokens, on the FreeFlix Media Hub. A Smart Contract is written to accept crowd funded investments into content creation and sponsorships from brands
3. The media asset, once created is used to create an NFT on the FreeFlix Media Hub where this NFT goes through a bidding process for consumers/brands to contribute
4. Post bidding, the NFT is moved from FreeFlix Media Hub to KuChain Network.
5. Once on KuChain, the asset can be exchanged and via the KuChain Media Network (which will have all the offerings of FreeFlix Media, combined with the investor base of KuChain.

Expected Outcome

On-board creators/studios using the KuChain Network to:

1. get funding/donations for crowd-funded user-generated content
2. engage with their community and generate/mint/create Creator Tokens (CT) which are fungibles that are exchanged for non-fungibles; both on the FreeFlix Media Hub and KuChain Network.

Timetable

Here's an estimate of our plan:

Implementation Steps	Time Consuming
FreeFlix Media Hub to be ready	3 months upto late Oct
FreeFlix Media Hub with creator testnet	Nov 2020
FreeFlix Media Hub with KuChain testnet	Dec 2020 (or sooner)
Testing and community participation	Jan-Feb 2021
Total duration	6-8 Months

Additional Context

1. FreeFlix to run testnet and connect KuChain to invite creators to run campaigns for crowd-funded content
2. Tooling for the content operations (also provided by FreeFlix), enables organizations to interact with the FreeFlix Media Network.
3. Tooling for brands to interact with creators in a secure, transparent & auditable manner are also provided by FreeFlix Media.

From an implementation standpoint, integration with KuChain and the support is to be assessed. Since FreeFlix Media also works in the Cosmos ecosystem, integration and interaction doesn't pose a challenge. Although some effort is required from team KuChain during the integration with Cosmos IBC (and it is not a roadblock/challenge as team FreeFlix can also contribute as required).

Contact Information

Contact Email: abhishek[at]freeflix[dot]media