PRESS RELEASE. ZCON PROTOCOL is a blockchain-based ‘web content +commerce platform’ that leads viewers to purchase products such as clothing and accessories by naturally exposing the products in the web content. This is done by involving content and product teams from the early stage of planning process prior to the broadcasting of drama and entertainment.
Over the past five years, market for web dramas and web entertainment have grown exponentially. This is because channels for content consumption shifted from TV to mobile platforms.
Although web video content is drawing a large amount of attention, its profit structure is being pointed out as a problem.
Currently, the primary profit source of web content is the advertising revenue set according to the rate on the platform, such as in the case of PPL advertisements.
In this simple revenue structure, however, production costs are often not covered.
Due to such poor profit structure, actors and production companies who participate in content production often do not receive sufficient compensation.
In addition, in light of the COVID-19 pandemic, non-face-to-face shopping is increasing. Content producers can make stable profits by allowing viewers to easily purchase products exposed on the video content. Content producers can also create high-quality content based on K-story and and enter the global market through the ‘ZCON PROTOCOL’ platform.
Web content has been suffering damages from illegal copying and downloading issues. Although profit is expected to increase as the web content market grows, if copyright issues are not resolved, profit will not fully go to content creators.
Even with the popularity of the Korean Wave and increased demand for Korean content, illegal downloads in countries with low awareness on intellectual property rights will continue to damage production companies.
ZCON PROTOCOL’s blockchain technology can verify the copyright of video content and protect the intellectual rights of creators.
With the video contents in which they appear, actors can generate profits by NFTizing and selling photo books and special videos, thereby securing fans and taking up various opportunities.
As Korean dramas continue to gain popularity in the global OTT ‘Netflix’, interest in K-story-based video content is steadily increasing. However, as the market mainly is composed of large entertainment companies, content diversity remains insufficient and the gap between the rich and the poor companies is increasing.
ZCON PROTOCOL seeks to secure content diversity and establish an ecosystem in which compensation is properly made on fair performance for all ecosystem participants.
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