Littlstar Media announced that it has launched Ara, a new blockchain-based platform designed to give creators and artists greater control over their content.
The company, which counts Sony and Disney among its investors, says it wants to use distributed technology to support new business models for the creative community so that they are less dependent on the platforms of other technology companies to create an audience and get paid .
"Artists and creators are struggling to get paid for their work, and their livelihood and their voices can be compromised by the whim of the platforms they publish," said Tony Mugavero, CEO of Littlstar and Co-Creator of Ara, in a statement . "Right now, the audience is a draw, but third-party platforms have all control, and Ara puts control back in the hands of creators and their fans, allowing a more direct connection and a better way for fans to reward their favorite artists. "
Littlstar has previously raised $ 10.5 million from a group of entertainment and media companies, including Sony and Disney. He's been working on the Ara project for a couple of years.
Ara is a suite of blockchain-based protocols aimed at decentralizing content ownership and using tokens to authenticate transactions between publishers, creators and consumers. The company imagines that Ara is used to support content such as games, movies, music and photos, among others.
Part of the Ara system allows a wide range of devices to connect to the platform to create a distributed network of unused processing power.
The company also believes that consumers will benefit from retaining control over their data, rather than having them exploited by third-party companies to help discover content and advertising models.
"The use of blockchain, distributed ledger technology and cryptocurrency allows the existence of a completely new participatory system," Mugavero said in a statement. "This system eliminates the need for" trusted "third parties to track and maintain access and ownership, which have demonstrated over and over again to betray our trust Today, our lives are so dependent on digital that every sector in the world can exploit this technology in some way ".
