Storichain is DApp and storytellers agreement protocol that create stories, distribute and manage story IPs. It is also a protocol that provides a contract for story creation contracts. Users can change their positions in the story chain ecosystem as writers, producers, and readers, and participate in story creation before they are published as individual media such as movies, dramas, cartoons, and games.
Industrial value and scope
Although ‘storytelling’ has a long history with the development of mankind; it was not long before when have paid attention to its potential economic value. Even in industries such as publishing, movies, and broadcasting, which are literally based on those stories, cultural values have been considered more important than the industrial aspects. When a ‘story’ with a well-structured narrative meets the Smart Contract technology of blockchain, it can be transformed into ‘story asset’ which has the potential for securitization .
Problem of allocating excess earnings
The stories are distributed in the form of publication or videos in final stage. The subject of distribution is usually the publisher for publications and film (video) distributors for videos. The distributors invest in marketing and infrastructure to maximize the added value of the original material, which is the story. The problem is that while the invested cost used by the distributors are easily measurable, it is hard to measure the labor costs of creators and consumers that was inputted during the process of generating added value.
Efforts to improve treatment of creators
As times change, interest in improving the treatment of original story creators within the story industry is on the rise. Over the past decade, there have been a variety of attempts such as policy support, platform diversification, and software experiments to make this possible. In Korea, there is a government platform called the ‘Storium,’ and there is also the ‘Korean Film Scenario Market’ which is run by the Korean Film Council. However, due to the lack of technical support for anti-plagiarism, many writers are not uploading work.
For webtoons, due to the number of increasing mobile users in China, Japan, and developing countries, the market size increased by 15% in 2017 compared to the previous year ( 812 million ). In the 3Q of 2017, South Korea’s sales in the contents industry were
$25.8 billion and $2.239 billion. There are about 6,098 films a year produced in the global film market, and the number of scripts prepared by the production companies for future production is about five times the actual films produced.
So far, most of the content-based blockchain projects have stored the ‘Text Data’ of the story inside the blockchain. However, Storichain does not store the original text data of the story within the blockchain. This is because considers the contributions made to the creation & transaction stage and the ownership transfer of the stories more than the text/image data of the story itself. refers to these kinds of data as ‘Activity Metrics.’ Since the activity metrics are used distribute the profits accumulated by the story.
The act of ‘creation’ is sometimes referred to as a ‘ping-pong match within head.’ This is because when a writer writes a story, he/she has to communicate back and forth with the imaginary characters for new lines and ideas, just like how people play ping- pong. This is maybe also applicable to the writers who create their work all alone, without any help from the others. While he/she may be sitting in his room alone, trying to make something out of nothing with a sheet of paper in front of him, they are still exchanging lines.
The business model of Storichain is to receive a certain fee from the story creators and the traders by providing them with a protocol for a contract through the Smart Contract. This kind of business model is referred to as the ‘Contract Protocol Business,’ and the name of the protocol is called ‘StoriEco.’ Prior to moving on into the protocol business model, Project will test-run a service model that implements some features of the app using a smart contract.
Junes Lee CEO
Yoonchul Chung CCO
Mickey Choi CBO
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