MILC Platform Partners with Large EU Project

The EU has been making necessary advancements to help creators secure the rights of what they produce while also creating a platform to share their work. It was with this in mind that the MediaVerse project was born.

Recognizing that sharing your aspirations with like minds will further any creative’s development, the EU brought together a host of social researchers, artists, technology developers, media publishers, and stakeholders from all other adjoining industries into one body and called it MediaVerse. To foster the growth of this EU-funded program, the EU put together an advisory board wherein the founder and CEO of the MILC platform, Hendrik Hey, serves as a member.

This “union” is a welcome development as it potentiates the drive for the decentralization (perhaps tokenization) of media content production, sharing, licensing, and monetization. It will be a case of one complementing the efforts of the other, one furthering the reach, benefits, and impact of the other.

One of the beautiful things about MediaVerse is that there is no discrimination between amateurs and professionals. Just about anyone, professionals and amateurs alike, can be a part of the MediaVerse node (MV node). The MV node is a software that is an extension of the MV server, which enables all who are part of the network to easily share their content on the MV network.

Their content will be available on the servers for as long as they need it. The content on the MV network will of course be licensed with appropriate laws, and the network will regulate to what degree content can be used to ensure copyrights are not infringed upon.

This approach to media content sharing is essential, especially with the way content creators have been treated by the top shots of the media industry, YouTube and TikTok. It goes without saying that this will further even the playing field in an industry where these two have been touted as having the final say in monetizing media content on their platforms. Even when they do not “own” them.

There have been cases of a tug-of-war between these platforms and content creators (the big dog wins most of the time) regarding how much a media is supposed to accrue. How can you win a case against one who is the defendant, judge, and jury? This has frustrated creators into the depths of under-productivity because they are not paid their works’ worth. MediaVerse seeks to empower and treat creators fairly.

The level playing field MediaVerse aims to achieve can only be made possible if there is a marriage between the content & technical side of things. As a result, the advancement and innovation achieved in the MediaVerse project will be employed in the media content ecosystem.

It is a known fact that for innovation to occur, you need a diverse and multifaceted team, a Venn diagram of experience. This intentionality can be seen in MediaVerse’s choice of partners. Research and technological innovations are marshaled by universities and research institutions (like CERTH, LINKS, and UAB) alongside IT startups and companies (like ATC, ATOS, FIN, and VRAG).

At the same time, media experts (like STXT and DW) provide industry insights. So it is a case of different portions of a machine working collectively to achieve the collective goal for all content creators.

The partnership has been lauded as a testament to the unification of European countries to better the earning power of creators. So far, six countries (Belgium, Germany, Greece, Italy, Spain, and Switzerland) have contributed resources to the cause. This is good news as some of the most impressive ideas (startups) to have graced the annals of history have gone out of existence because they lacked funding.

To ensure MediaVerse does not meet the same fate, the EU set aside five million euros for the project. And this is different from the sponsorships it currently enjoys from private entities. As expected, this collaboration has sparked positive reactions from all corners of the media content industry. Partners and those headlining this paradigm shift are just as happy at the dawn of the new age in media content making, licensing, and sharing.

Here’s what Hendrik Hey, the CEO of MILC, has to say: “I am very happy to be part of this impressive network. All partners have set out to change and improve the media industry for the long term. I hope we can contribute our part to this vision and serve as a good partner for all project participants.”

The vision of answering the fundamental questions posed by the inefficacy of the current structure of the media industry is more significant than one person, platform, or country.

Mr Hey’s statement is both a battle cry and that of relief. A cry that echoes throughout the industry rallying for help to achieve the utopic media content environment and comfort from the burden of dealing with the fact that an idea may never see the light of day. Enter a new dawn.

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

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