Digital content and streaming services such as YouTube, Twitch, Netflix, Spotify, etc. have become an integral part of our daily lives. Today, 99 % of the households in the US are subscribed to at least one streaming service.<\/p>\n
PitSnap is a new blockchain initiative that plans to connect the digital media and entertainment industry with the blockchain technology and revolutionize the market by changing the way artists and creators are rewarded for their efforts and expand their monetization options to new heights.<\/p>\n
During the past years, the creator economy has become an industry of its own. Twitch and YouTube are today used by many creators from newcomers to well-known celebrities alike. In addition, streaming services are providing a major chunk of revenues, leaving traditional sources of entertainment far behind.<\/p>\n
There is however one big issue. Even though digital content is clearly the future and has already arrived, the revenue for creators is very low, with the majority of profits going to the handful of platforms that can exercise a monopolistic power over the market. As such, for many digital content creators it’s very difficult, if not impossible, to make a living off their work, unless they have millions of followers.<\/p>\n
Another issue many traditional artists face are live performances and fan interactions, which cost a lot of money, effort and require considerable preparation. This forces traditional artists to slowly become digital artists who can go live whenever they feel like it, be it to share a sample of their work, to talk to their fans or to give an entire concert. This is not only true for the music industry, but also for the field of entertainment, such as comedy shows, etc. This necessity, however, makes the issue with artist and creator rewards even greater.<\/p>\n
PitSnap is offering a new approach to solve the above mentioned issues. The project could revolutionize the entire industry, ensuring fair and equal payment for content creators for their hard work. While most streaming platforms for example rely mostly on advertising revenues, PitSnap is using Pay per Content methodology. This means that content creators are paid a price defined by them for every user accessing their video or stream. This creates a fully transparent process for artists and creators that allows them to set a price as low as 0,10 cent for a video that can be watched by their fans without any ads as many times as they want. In the end, even at a price as low as 0,10 cents the artist or content creator needs considerably less views or streams compared to leading platforms like Youtube and Twitch.<\/p>\n
PitSnap uses blockchain technology and its own native token called PITS that is used to pay for creators\u2019 content. The project utilizes integrated AI features for content creation and multiple additional monetization methods under one roof, while fans enjoy a completely ad free experience and connect on a more personal level with their favorite artists and creators.<\/p>\n
The PitSnap project is run by an experienced team with a great amount of knowledge both in blockchain technology and in the media and entertainment sector. They are well aware of the issues in the respective industries and have been working towards the creation of the PitSnap ecosystem for a long time.<\/p>\n