Problems of content creators and Advent of conteNFT
With the rapid development of 4.0 technology, content creators can easily share unlimitedly the content they have created with the world. They can even earn income from their content, such as selling them or earning from advertising money. However, because they can only sell through centralized sites or platforms, they have to pay many fees for these sites/platforms. Or in the case of content creators who profit from advertising at centralized sites like YouTube or TikTok, this is also quite precarious, as these companies determine the advertising profit rates. There is an unequal distribution of advertising profit in some areas, so this is not a steady income either. And most importantly, not every content creators can reach out to many viewers and earn back advertising profit. In addition, there are three main problems for content creators.
1. Centralized Platform Shortcoming and Copyrights & Ownership Problem
With modern technology nowadays, anyone can share their creative content online with people around the world. In addition, content creators are also taking advantage of this strength of the internet to share their content globally and make money by selling them. However, the emerging problem is that content shared online is easy to copy, even with registered intellectual rights.
Online social media platforms such as TikTok, Instagram, and Facebook are becoming more popular, and many content creators are generously demonstrating their strengths in these online platforms. They only can make money by selling their content through a centralized platform which charges an expensive. Such as at https://creativemarket.com/ or https://www.designcuts.com/ etc.
However, online platforms may look good, but they include problems. New technologies always have further issues. When many content creators upload their work to the online space to share and sell, some early viewers can duplicate these works quickly and sell them like their own works, and these things shouldn’t happen. This sad reality is occurring all over the world. It’s a world where not only famous creators but also promising content creators are being copied. Unless they are worldwide celebrities recognized by many people, it is challenging to protect their digital content by copyright. And in the end, it is complicated to protect their content in the online world.
2. High fees and price bubbles in NFT Market
To solve centralized platform shortcomings and The Copyrights & Ownership Problem, we have developed blockchain-based NFT technology. We used NFT as a Decentralized service so that the cost will be much cheaper than a Centralized service in theory. However, most NFT platforms run on the Ethereum main net, which means users have to pay outstanding fees and experience the network’s slow transactions.
Of course, when we trade anything online by Cefi or even Defi we also have to pay a fee. In short, depending on the case, the fee will be expensive or cheap. However, recent NFT trading fees on Ethereum main net are unreasonably priced.
Currently, 99% of NFT markets such as Rarible, SupeRare, and Foundation, including OpenSea, the leader of the NFT marketplace, are being serviced based on Ethereum Mainnet.
At the same time, due to the recent increasing transaction fee when using Ethereum main nets such as DeFi, Dex, Uniswap, etc. The costing Gas records an average of 1 block, starting with a fee between 10 dollars to 20 dollars, and in particular, an average fee of 100 dollars when registering for NFT should be taken.
This high costing transaction fee is an annoying barrier to entry NFT market for new content creators and new buyers; it is also becoming a burden to whoever uses the Ethereum-based NFT marketplace. Because new creators are afraid that they will lose the expensive NFT minting fee forever if they can’t sell their NFT items. Consequently, contradictions have begun to arise in the need to purchase an NFT item at over $40, which is more than twice the price of that 20$ NFT item. Therefore, if you look at the products currently registered in the Ethereum-based NFT market, you can feel many bubbles in the price. The NFT items were priced up many times due to this problem.
Unfortunately, most of the NFT marketplaces are only enjoying this sad reality, which is that users have to trade NFT items at a higher price than the actual NFT itself because of the high fee. Nevertheless, it seems like there are no attempts to solve this problem.
3. The recent NFT market is full of artworks and lack the fun
Most of the major NFT marketplace platforms today focus solely on expensive artworks and luxury collectibles. These artworks may not appeal to everyone, especially teenagers. They are attracted to some interesting content such as memes and short video content on TikTok or Instagram. When asked in the 2020 GlobalWebIndex survey how TikTok users mainly use TikTok, the majority of respondents answered: “to find funny/entertaining content.” So you can see, the demand of users to watch these kinds of content is incredibly high. In addition, according to omnicoreagency.com roughly 50% of TikTok’s global audience is under the age of 34, with 26% between 18 and 24.
We look forward to engaging more users with other new exciting content. Furthermore, we will not only be a marketplace where users can buy and sell NFT items, but we will also focus on bringing the new concept of the NFT social network marketplace to the world.
Content creators can prove their work is original and exclusive; they can also sell them and even get royalty percent back every time their NFT content is resold. Something that was never existed before. We aim to create a marketplace where content creators can get more value than just from advertising profits and solve the repetitive problem of the current NFT market. On conteNFT, anyone can create and sell short video content without considering the amount of subscribers or views; if only one user buys it, the creator can still make a profit, not like TikTok or YouTube platform’s earning method.
4. Advent of conteNFT — A new fun concept of NFT marketplace
As we have seen above, there are still many problems, but unfortunately, many NFT marketplaces are ignoring the problem, and it is difficult to find an attempt to solve it.
Most of the blockchain industry, including NFTs, is being ignored by many people due to its unstable price, and even leaves the chance of being a scam. Besides neglecting the essence of the great technology of blockchain and NFT, most people are only interested in price rather than technology and NFT content. We have no right to blame people who only focus on price because we made it that way.
Since we could not just stand and watch this problem, we started the conteNFT project to solve it. With the advent of conteNFT, users will no longer have to worry about such issues. conteNFT is the NFT marketplace where users can create, buy and sell digital collectibles most easily and cost-effectively. Users do not have to know about specialized knowledge such as coding. We are aware that many global creators are not familiar with blockchain and Non-fungible tokens. For that reason, we do our best to make conteNFT in the easiest way for users to understand and optimize these technologies.
It is impossible to solve everything at once from scratch. Therefore, we do not intend to stand and watch it quietly. We will continue to think continuously to solve the problems that occur in the present market, and we will solve them one by one. Then there is no doubt that content creators will focus on their work without worrying about the cost and copyright issues. And by focusing on new fun short video content NFT such as Meme or videos like TikTok or Instagram, we will empower content creators to refresh the world’s NFT market in a new way of contributing their content.
[***This content is for information purposes only and is not financial advice. We will not take any responsibility for your losses when you invest in Crypto Currencies or assets related to Crypto Currencies.***]
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