Smart Contracts Redefining Media With $MLT 📺
Smart Contracts Redefining Media With $MLT 📺
Let's take a look at a project redefining the metaverse with smart contracts and evident utility👀
Smart Contracts Redefining Media With $MLT 📺
Key Takeaways📍:
MILC aims to streamline the content licensing process and reduce sales commissions from 30-50% to 10% by utilizing blockchain technology and automation.🔻
The metaverse component of the platform offers unique features such as a content marketplace, a cryptocurrency exchange, and an art gallery.🌏
The project's team, led by the established entertainment brand Welt der Wunder TV, consists of individuals with decades of experience in various industries.📺
The Media Industry Licensing Content platform is a project that aims to remove inefficiencies in content licensing and discovery by utilizing the power of web3. MILC is a daughter project of Welt der Wunder TV (World of Wonder TV), an independent TV network based in Germany and Switzerland. The resultant platform leverages the power of metaverse 3D UIs to create an engaging experience of global content trade and curation.
What is Media Licensing Token?
Media licensing token (MLT) is a utility token for the MILC (Media Industry Licensing Content) platform. This token eases the process of media licensing through smart contracts on the platform.
The platform lets partners interact with the platform using fiat currencies. Still, each payment on the platform passes through an exchange procedure that converts fiat to MLT, creating demand for the token.
The team is working to increase this demand by utilizing the token on the platform launchpad and using it for governance and staking in the ecosystem. The project team also aims to implement a community reward mechanism using the token to create an ecosystem digital economy.
MILC Trinity — Project, Community and Metaverse
MILC is an amalgamation of 3 significant components.
MILC Project (The licensing platform)
MILC Community
Metaverse platform
The MILC project utilizes the power of blockchain using smart contracts to automate the process of buying and selling content. The value proposition is the elimination of middlemen to bring in automated licensing. This process creates an opportunity to reduce sales commissions from 30-50% to 10%.
The metaverse and community platform is a WebGL metaverse that gives a 3D experience to interacting with a community and using the platform. The metaverse is a hub for social interaction, communication, and entertainment. However, the main features of the metaverse that set it apart from other metaverse platform are as follows:
Content palace: This building serves as a marketplace for content providers and buyers like TV broadcasters and VOD platforms.
Crypto Exchange: This is a building in a metaverse that allows users to exchange cryptocurrencies.
Art gallery: A place in the metaverse to display and sell physical or digital art.
The community is the third and most important part of the project. This part of the metaverse takes elements from the UI of Twitter, Facebook and Telegram to give users a familiar experience. Each community member will be rewarded for their activity in the platform using the $MLT token.
The digital experience creates unlimited potential and possibilities for growth and added features to the platform.
Curtain calls — The team behind MILC
As stated before, the project is being created under the supervision of Welt der Wunder TV, an established entertainment brand in Germany and Switzerland. Welt der Wunder has been active in the market for over 25 years and was valued by EY at EUR 48 million in 2020.
The founder and CEO, Hendrik Hey, has been in business for decades and serves as Went der Wunder's Principal CEO. Markus Satzger, CTO of MILC, also boasts decades of experience in the IT industry as a project manager, systems management specialist operations coordinator, and a C-level executive in different organizations. Finally, Martin Jessel, the COO of web3, also has his hands dirty in project management, community management, and consultancy, creating a dream team for the project.
Dive into $MLT (Tokenomics)
The utility and governance token, MLT, has a limited total supply of 200 million tokens. The allocation of the token according to the whitepaper is as follows:
Team — 10%
Advisors — 5%
Foundation reserve — 17.5%
Marketing and liquidity — 28%
MLT swap — 9.5%
Private sale — 28.5%
Public sale — 0.5%
According to the roadmap, a token burn mechanism that burns 0.5% of the tokens used for purchases using the MLT token will be implemented. This burning process will continue till the supply shrinks to 100 million tokens.
The project's vision is to remove the dependency of the token from secondary markets by increasing its utility inside the platform as much as possible.
The Media Industry Licensing Content (MILC) platform aims to improve content licensing and discovery using web3 technology. It features a utility token, MLT, for easier media licensing. The platform also includes a metaverse for social interaction and an art marketplace. MILC is backed by a team with vast experience and plans to reduce token dependency on secondary markets.
It’s important to note that this research was written for the sake of educational purposes and pure entertainment value! Please DYOR on every project and remember, this is not investment advice🙏
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