Contentbox is an open-source decentralized blockchain cryptocurrency project focused upon audio and video content. It solves the problem of monetizing the content, which is a very problematic issue for all content creators.
When Contentbox started to cooperate with CastBox in 2018, the project gained a great promotion which helped to raise the startup to a higher level. CastBox is an audio platform with over 50 million pieces of audio content and 15 million users from 135 countries. Being the founding member of the platform, it significantly contributes to the development of Contentbox. Contentbox plans to create a dApp of Castbox, which is designed to find, save, download, and listen to podcasts.
Contentbox Foundation Ltd. is a company standing behind the project. It’s a non-profit entity founded in Singapore in 2018 by a former Google’s app monetization expert Renee Wang. The location was chosen due to the friendliness of Singapore’s regulations towards blockchain projects. Renee Wang sold her home to fund the company.
The problem Contentbox is trying to solve appeared due to explosive growth of the digital content industry and subsequent development of content platforms. Taking into account a huge share of audio and video streaming in all the Internet traffic (70%!), the industry can’t develop properly until numerous questions are solved including fairness issues. The creators of digital content and their distributors, advertisers, and consumers always face challenges of this kind, so they need a solution to deal with them - this is exactly what ContentBox offers.
The Contentbox platform
Users of the ContentBox ecosystem will gain the following features: a shared content pool, a shared user pool, and a unified payout system. A highly demanded digital infrastructure is created on the basis of the platform. The system alleviates innovation, cooperation and development issues for its stakeholders. The company offers a more efficient method for web and mobile applications to share digital content efficiently, while all payments are made directly without intermediaries. The platform alleviates negotiation over the payment terms giving 15% of income to content creators and sharing the rest of the revenue between the streaming platforms, for instance, Facebook or YouTube.
The platform creates the system of financial rewards for activities promoting the content on the platform and making it more visible for other members.
ContentBox mainnet was launched at the end of 2019 to function as a decentralized marketplace offering transparency, lower costs caused by the lack of third parties and better payment liquidity thanks to automated blockchain-based processing. The tokenization of incentives helps to promote the content.
The platform can also be utilized as a crowdfunding service that can help independent content creators raise funds for the production of films and other types of content.
The Contentbox technology
ContentBox includes the following components: BOX payout provides security and speed of multiparty payments; BOX passport is an identity and attribution service based on blockchain that operates between different apps; BOX Unpack is an app interface developed for partners who work over the digital content apps.
Cross-service on-demand video player is another product developed to be used on the platform. Apart from usual functionality, the media player is provided with the capability to search among movies registered on the platform. Box tokens are charged for live streaming. Smart contracts make it possible to distribute earnings immediately among participants.
The Contentbox ICO and other financial details
BOX is a native utility token of the Contentbox Platform and a core component of the ecosystem. It is designed to be a fuel for the platform. BOX was issued as an ERC-20 coin. When the main net of BOX Payout will be launched, the ERC20 token will be converted to the chain token at a 1:1 ratio.
The Contentbox ICO started on June 1, 2018. The company hit the hard cap of 30,000 ETH in about 3 weeks via private sale, therefore, no public ICO/crowdsale was arranged. It was funded by 12 major investors including Sora Ventures, Sky9 Capital, LinkVC, Dimension11, IDG Token Fund, SIG Token fund and Iconic Shen Bo (one of the founders of Fenbushi Capital). The company distributed the cap evenly among investors (500 ETH per investor), therefore there is no lead investor in the company.
The BOX token
BOX is a utility token that is used for purchasing services within the ContentBox ecosystem. The tokens can be earned via Bounty and Airdrop programs. With its help, it’s possible, for instance, to buy a premium membership and to participate in contests within the app. Also, the content creators can use their coins to promote their own content. Tokens are available for purchase on Bitfinex, Huobi Global, DDEX, Yobit, Idex, and ZBG.
25% is used for presale and targets investors with a locking period of up to 6 months. 15% goes to the R&D team that gets rewards and to the open-source contributors with a four-year vesting period. 30% is given for ecosystem incentives to motivate the participants. 20% goes to the foundation intending to protect the BOX token from speculation and to support the Foundation operations. 10% is allocated for bounty programs and backing of partnerships with audio/video sites or mobile apps.
As for the proceeds, the resources are allocated in the following way: 50% for R&D, 25% - for marketing and promotion, 15% - for legal, auditing and compliance issues and 10% - for general and administrative expenditures.
The Contentbox Team
ContentBox was founded by Renee Wang, a founder, and CEO of CastBox. She launched CastBox in 2016 and gathered a team of 60 talented specialists. She also worked at Google's global mobile advertising team.
The key figures in the company are highly experienced specialists with entrepreneurial, academic and technical backgrounds. The team includes the personnel from CastBox, for instance, Alex He (CTO), a co-founder of CastBox.Previously, he acquired huge experience working for such global giants as Motorola, Xiaomi, and Borqs, where he managed the teams of over 100 employees and was engaged in mobile software research and developments.
Hu Gang, Chief Crypto Officer, and Contentbox CTO is a system architect and engineer with immense experience in building web and mobile applications. Dr. Xiaohui Liu, a blockchain scientist, the owner of one patent and 9 papers in international premier conferences, specializes in distributed networking protocols. Being a former Research Scientist at Facebook, he still manages 2 Facebook open source projects.