Blockchain-based multimedia ecosystem combining popular streaming services
Price on ICO
Mar. 14, 2018
Apr. 4, 2018
1 CRNC = 0.24 USD
ICO is over
The idea is simple – you use Current to consolidate different streaming services that you regularly use into one mobile application. You can search and link YouTube, Spotify, SoundCloud, Facebook, and Twitter accounts from the same app and combine media content by genres, artists, styles and other criteria into playlists and channels. One more pleasant feature is an ability to download the audio and video content to your device to be able to play it offline. The Current app is already on the App Store and has more than 200,000 installations. Moreover, the app was ranked in top 100 apps on the App Store in such countries as Canada, United Kingdom, Australia, and New Zealand. The blockchain integration of the app is planned on Q3 2018.
Their ERC-20 tokens called CRNC will be the primary currency in the ecosystem and the app. All you need to earn tokens is streaming your favorite content on the platform, provide a feedback or share your personal data. Then you will be able to spend the tokens to buy premium subscriptions for other services or tickets to events. If you are an advertiser, you will have to purchase CRNC to host advertisements on the platform.
The company plans to create 1 billion tokens, 35% will be sold, 35% go to miners, the team will receive 12%, the rest will be sent to partners, advisors and for the Current foundation. Users will mine tokens by accruing an hour of consumption on the platform. As the the platform popularity will grow, the token will become more and more valuable.
The core team consists of 15 members. Dan Novaes, CEO and co-founder of the company, co-founded four other companies, was published on Forbes and Entrepreneur. Other team members has exhaustive experience in developing mobile apps, websites, launching ecosystems, design, blockchain, machine learning, PR, and science. The team looks very professional and solid. They also have 13 advisors and investors mostly dealing with cryptocurrencies.
Overall the project looks serious, led by a strong team that knows how to make projects of that kind, the idea is simple and clear, which sometimes an extra advantage. What’s to be highlighted is a functioning application, which means that the project won’t sink even if the ICO goes below expectations. Therefore, their long-term perspective looks bright and stable. Among possible concerns we’d mention that being on the App Store for quite a long time, the app hasn’t got the expected level of hype, though the upcoming ICO may fix this. And one more challenge is attracting and keeping users on the platform by rewarding them with CRNC. If users won’t see any value in the tokens, they may switch to other apps.
We like this simple and attractive idea. You keep watching and listening absolutely the same services and channels, but at the same time earn tokens, discounts and other preferences just because you watch and listen the content on the Current platform.
Current has created a digital token (CNRC) that uniquely rewards a person’s time, money spent, and data shared during the media streaming experience. This token can be used on a broad range of products, services, and in-platform ad- vertising.
By consolidating popular media networks into one place, Current already provides more than 160,000 users with a more convenient search and discovery experience. With the launch of CRNC, users will be rewarded for streaming content from their favorite networks like: Spotify, YouTube, SoundCloud, and more.1 The platform combines behavioral data points surrounding the types, times, and topics played by each person across multiple networks to serve up better recommen- dations than any single network alone.
Blockchain technology allows for a new system of transparent accounting that is needed for the instant valuation of time, data, and attention. The Current protocol aligns the interests of all stakeholders in the media consumption cycle to create network effects that drive adoption. By creating a new standard of exchange, Consumers get more choice in how they pay for media, both Creators and Curators get a new form of com- pensation, and Advertisers get more transparent accounting and audience information.
The protocol interacts within the Current plat- form in addition to any other host media network. This introduces a new revenue stream and incentive mechanism for the host network giving it the ability to scale effectively. Over time, dev- elopers will leverage the identity profiles created for future blockchain based systems.
Associated agencies AmaZix Community Management for Crypto Projects
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