Profit sharing between the porn star and the earliest fans who buy shares in her business because they believe she will be the next superstar.
@luckybit this might be a stupid question but I guess lots of people might share this concern:
What is the incentive that will make a music artist (or a porn star) stick to their promise of sharing their future revenues with their token holders?
What prevents a future Amy Winehouse discovered on Muse from selling her music elsewhere (i.e. outside Muse) and thus making her token worthless?
Is there anything, apart from an artist's reputation, that makes this profit-sharing system viable?
@cob would have to confirm this, I'm just someone that's read every interview and posed the huge Q/A to better understand the system.
1) What is the incentive that will make a music artist (or a porn star) stick to their promise of sharing their future revenues with their token holders?
The profit sharing will be automated. I'm not sure if that's handled by the buyback system or smart contracts with streams, tokens and downloads.
2) What prevents a future Amy Winehouse discovered on Muse from selling her music elsewhere (i.e. outside Muse) and thus making her token worthless?
The more creative the rewards, the more volume you should see on token purchases. Think of having the ability to have kickstarter type rewards every day, every week, every month. The artist decides the level of engagement with their audience. There's also a token unlocking system that will be in place. You could publish certain items for holders with a certain amount of tokens and have it controlled from one central application. The selling of music is one of the least interesting features of the system to me. Some reward ideas might look like what I have below.
- Anyone with at least 300 adultjane tokens have access to my livestream on May 3rd
- Anyone with 1000 adultjane tokens can help me brainstorm a new 5 minute scene with BigDongActor
BigDong also has a token, so they cross promote
- Anyone with at least 300 novelistbob tokens can participate in a live stream brainstorming session for my upcoming book
- Anyone with at least 300 painterjack tokens will get a signed copy of my limited edition print
3) Is there anything, apart from an artist's reputation, that makes this profit-sharing system viable?
The fans become the marketing department. If the artist creates great rewards, potential token buyers have every reason in the world to not only invest but tell everyone about the artist.
The 95% profit retention in real time is exciting for the artist, but the rewards system with the ability to make a living loving music is where the viral potential sits in my opinion. The last thing I would imagine an artist would want to do is screw over their fans in this type of system.
One aspect you're missing is piracy/copyright infringement. In the system I talked about (which isn't what Peertracks currently does now), the computation to unlock a song is the piracy protection. Artists would have to work with the platform to make money from digital sales.
I'm not really talking about Peertracks in specific but something better. I think Peertracks in current form offers no copy protection and no distributed computation so you can't even set up an economy where people buy music with CPU cycles. The point is that it takes a certain amoun tof CPU cycles to generate $1 or 50 cents, and those CPU cycles wuold be the cost of listening to the song.
So people would essentially be mining or computing per listen. This would for example allow people to dedicate cycles to scientific research in exchange to have unlimited access to music. The nerds like us would be willing to pay for music this way, and this would mean the artists would have to team up with us (or in some cases they may be us) to make money from their art.
In most cases I don't think an artist will have anywhere else to go but even if they did try to sell elsewhere it wouldn't matter. Computation would micropay per listen to every piece of content, and if you're talking about porn then the cost to view would be measured in computation cycles which earn enough credits to view.
This would make a huge market for computation on the back of the entertainment industry. Done right, the content itself would be encrypted in such a way that the only way to unlock it is for the host computer to run the assigned computation, and while you might have some cracker types who work really hard to unlock, for most people just using spare CPU cycles is not going to be a big enough deal for them to bother with piracy or copyright infringement.
And for artists, if an artist could know for certain every view or every listen would get them paid, they'd be big winners too. As for profit sharing, if artists don't share profits then they'd have to develop their own platform, which eventually they probably would do, but it doesn't mean every artist would be on a platform which isn't fan friendly, and if too many artists get too greedy about it then they might lose fans.
So the idea summed up for the future:
1) Computation is a commodity which can be exchanged for content by building it into the encrypted file.
2) Profit sharing can be enforced by reputation. I'm pretty sure artists will have a lot more loyal fans if they share.
3) Piracy and copyright infringement is actually reduced on fan friendly platforms which can monetize content through renting CPU cycles.
So basically, we just need distributed computation and we can have monetized content. Computation is something everyone can rent to pay for art. The issue with Bitcoin mining is it wasn't distributed computation, it was just for the security of Bitcoin. Distributed computation would be the ability to compute anything in a decentralized super computer, and I would expect there will be potentially trillions of dollars in terms of market cap when you include every device with a CPU, the Internet of Things, all which can rent computation 24/7.
Any file, whether an app, a video, a song, could only open after a certain amount of CPU cycles unlock it. So if you protein fold for 10 minutes you can unlock the song. This would be seen by the user as similar to the amount of time it takes to download the song from Napster (wait 10 minutes).
@cobWhen the time comes, you will need to port Peertracks onto a decentralized computing platform. It would still have to be backward compatible with Bitshares 2.0 via the snapshot and sharedrop mechanisms, but you'll need the ability to embed decentralized computation into the files themselves, into the file format.
So for a stream if it's web based it might be trivially easy and you might be able to do it with the current technology with some sort of extensions so that when people stream the file they compute to unlock similar to pay per view. But then to download the file you would need a new file format where its' like secure .mp3, where the file is encrypted, and every time someone plays the file, it must donate a certain amount of CPU cycles. The CPU would do the work to earn the listen to the file.
I don't see how you could pirate that. Sure you could have people who go out of their way to try to losslessly copy the file but they couldn't make any more money doing that than if they profit shared and got a cut of the CPU cycle profit. And for most people they don't notice or care that their CPU is 100% for 10 minutes while they listen to a song.
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