Following the announcement of the partnership between KardiaChain and Yeah1 Group, CafeBiz — the most reliable news source about the business environment in Vietnam — has published an in-depth analysis of this collaboration. The article discusses how the largest entertainment media network and the biggest blockchain infrastructure in Vietnam will solve the problem of motivating, encouraging users, and reducing advertisements annoyance.
Original article in Vietnamese published by CafeBiz:
Viewers, channel creators, even advertisers can now gain more benefits on a mutual social networking platform powered by blockchain technology.
Are Youtube/Social Network users’ rights neglected?
In the booming Industrial Revolution 4.0, Youtube is still the dominant force in the digital entertainment force. The platform remains the world’s largest video sharing platform and the world’s second-largest social network in terms of active users. On average, people spend billions of hours watching videos on YouTube daily.
It is worth mentioning that the current state of advertising on Youtube is “bombing” viewers. Ads usually appear suddenly with repetitive nature. Most of the ads introduce inappropriate products, which annoys all viewers to grab their attention.
The YouTube platform currently offers five main types of ad placement, three of which appear directly in videos, including banner ads, skippable ads, and non-skippable ads. They can be placed at the beginning, at the end, or any preferable point by the channel owner, or according to Google’s automatic algorithm. However, in reality, the algorithm works differently from how it is stated. And obviously, free users are forced to view the ads unless users are willing to pay for premium service, which is only available in some countries.
As a result, end-users are now besieged by advertisements, partially from revenue pressure by both the platform and the content creators themselves. The platform sets ads to be repetitive, while creators enable as many advertising options as possible to profit and cover production costs. Moreover, the viewers do not receive actual values from these ads bombardment despite their commitment to the platform.
The “win-win” solution for all parties.
Regarding the concerns about optimizing benefits for users in participating in any social networking platforms, KardiaChain has formed a partnership with Yeah1 Group, the largest entertainment media network in Vietnam. The collaboration aims to solve the “earning” problem for end-users and encourage them to persevere with the ad placement while watching their favorite content.
KardiaChain will provide blockchain technology solutions including:
- Tokenisation of a video-sharing social network platform to watch videos and live streams from Yeah1’s celebrity roster, KOLs, and influencers.
- KOL’s NFT: Users can use KAI to initiate a smart contract in the NFT of their favourite KOLs to either trade KOL’s merchandise, collectibles, or require services according to the KOL’s skill set.
- Crowdfunding to develop new projects and promote new talents.
On the other hand, content creators’ major income source comes from advertising delivered by the platform they operate on or via their owned sponsorship deals based on their reputation. However, this is a long-overdue process, and creators occasionally have to work free of charge to build up their influence. Even advertisers do not gain their desired return of investment despite spending vast amounts of resources.
To put it simply, the implementation of blockchain technology will create a “smart economy” for the entertainment industry. All parties, including viewers, content creators, or advertisers, will get true benefits and value based on a seamless, transparent data flow.
KardiaChain’s representative, CTO & Co-Founder Huy Nguyen, said: “With the blockchain technology platform, KardiaChain expects all participants in the value chain to have certain benefits, based on their contributions. Those values are publicly shown, transparent, and are the foundation for a long-lasting connection. We believe that when the project is deployed on a large scale, Vietnamese users will have more opportunities to choose the right entertainment channel to both enjoy and earn without any annoyance.”
The power resonance between a pioneer interoperable technology platform and a multi-channel powerhouse will create a new status quo on the market. KardiaChain provides blockchain solutions in many business fields such as finance, real estate, while Yeah1 has rich experience and capability in multiple types of media and entertainment platforms. Together, they can promote new entertainment industry developments, especially in a rapidly emerging field like streaming.
KardiaChain is the first fully- interoperable blockchain platform with cross-chain interaction in Southeast Asia, helping to improve and digitise the products and services of traditional organizations and businesses. KardiaChain was founded in 2018 with a Vietnamese core team, including engineers and experts with experiences in different fields around the world, from London to Silicon Valley. With a peak capitalization of $ 350 million, KardiaChain was voted by Yahoo Finance as one of the top trending technology companies in 2021.