A SWOT Analysis Framework On Media Protocol
In this episode of my ICO review, I want to carry out a SWOT analysis framework on Media Protocol. A SWOT analysis is a business tool to carry out the strength, weakness, opportunity and the Threat of a business model. It is an essential tool that helps assess a business internal and external factors, which can affect a business model. The SWOT analysis helps a business to carry out a thorough business plan and strategically work on the project to propel it to success.
Strength
A Working Product: As many ICOs comes to the market to raise funds, most of them just present a Whitepaper idea and want to collect investors fund without real product or prototype. It's just not enough to have an idea; working on the idea to have a prototype or real product is more important before requiring fund from investors. Most often projects without prototype fail because its "Just A Whitepaper Idea", coupled with the current state of the crypto market you would almost fail without a prototype.
Media Protocol saw this need and have taken a step further to actually develop a working product before requesting funds through a crowdsale. They have built their first dApp "CryptoCatnip" that uses Media Protocol solution, consumers can read, watch and share content and be rewarded with Media Tokens. As someone who is thrilled by the project idea and the team behind it. I decide to have an overview of the mobile app and my experience was satisfactory. I guess you did be interested, so I drop the link below for you to download the app on Android or IOS device and share your thoughts too.
Improve Content Efficiency For Better Performance: The Media Protocol ecosystem interact directly with consumers and publishers receive direct feedback from them. This enables publishers to improve their content and increase the efficiency of the promotion.
There is a lot of poorly written content all over the internet and there is no medium for content promoters or creators to track the performance of their contents and be able to improve its efficiency for better performance. The centralized media platforms interrupt the feedback mechanism between content creators and consumers. They stand as a stumbling block to content efficiency. These has also contributed to a large number of poorly written contents online. The Media Protocol is disrupting the status quo by creating a truly decentralized content marketplace, content creators could get direct feedback from consumers and be able to adjust their content for better performance. The platform is built on the ethereum blockchain and uses a smart contract to reward consumers for their activities.
Formidable Team: The team is one of the major ingredients of the project's success. Media protocol has strategically picked their team to propel the project and the team members have a good amount of experience from their niche. The CEO has over a decade of experience in the field of advertisement and they have 4 core backend and blockchain engineer in their team to accelerate the project to full functionality.
Great Partners: In the business world, businesses alias to create a more formidable product. Businesses come together to compliment each other's weaknesses. Currently, the Media Protocol team has already partnered strategically with over 20 crypto projects. The right partners are those with complementary skill and with their diverse talents could create a product that is explosive that finds a true use case for the products. The right partner is very important as it creates the right emotional support, increases productivity and creates a more stable product.
Weakness:
This is a project that leverages the power of blockchain technology to create a transparent and sustainable platform. Blockchain itself has not gotten mainstream adoption, it would take a little more time for it to truly reach its full potential.
Opportunity :
In this section, I would discuss the opportunity that is available for media protocol.
Huge Market For Content Promoters And Customers: This platform would serve as the marketplace for contents, content owners and/or promoters would be able to allocate an amount for their content to be promoted on the platform. A report from polar.me estimates content advertising to be valued at $12.8 billion in 2016 and growing at a spectacular rate of about 32%. It is expected to reach $50 billion by 2021. Consumers would directly get access to promote over $50 billion in content advertising.
Revolutionary Community Powered Reward Mechanism: Have you ever wondered where and how do those big social media/media giants generate their funds from? Have you realized the huge amount social media platforms makes on a yearly basis? A report gotten from socialmediatoday.com highlights the market capitalization of the top 6 social media giants. From the statistic Facebook market capitalization is approximately $434 billion, Snapchap market capitalization is about $18 billion, Pinterest market capitalization is around $11 billion, Twitter market capitalization is about $13 billion, LinkedIn was sold to Microsoft at $26 billion, and Youtube is roughly worth $90 billion.
I was wondering how the world would feel if these funds are fairly redistributed to those who actually did the job; if these earnings are fairly distributed to those who actually read, watch and share these contents. There need to be a shift in paradigm and Media Protocol are at the frontier to reward consumers for their activities through smart URLs, they are rewarded for their activities to promote a content if they read, watch or share media contents.
Decent Return On Investment For Investors: As a platform that wants to disrupt the $50 billion content advertising sectors. For content to be promoted on the Media Protocol Platform, content owners need to purchase Media Token to monetize their content, which increases the token price over time, thereby rewarding investors a higher return on their investment.
Threats:
The only threat I find to the project is the availability of the big giants already in the centralized market. The Facebook and Google are already big players in the content media advertising. However, as a strong believer of blockchain technology, I think the Media protocol would take up a considerable market share as the technology is disruptive as it creates a medium of direct interaction with consumers.
How Does This Opportunity Work?
The idea behind Media Protocol is really simple to grasp, it only requires you to do what you ordinarily would do online, and you are rewarded for your actions. Usually, you go online "Google Search or Any Media Platform" to read about an article or a content that interest you and you like, share or comment on such content. Media Protocol is not far from that, just that this time you are rewarded to perform these actions. You do not need any special skills to get involved in the media protocol ecosystem. I illustrate a scenario below with Tom who is a frequent internet user.
Tom Before Media Protocol.
Tom is a frequent internet user and loves the whole spectrum of idea sharing mechanism the internet offers. Tom is a curious individual who asks the why of almost anything, and all the time runs to the internet for an answer to his troubling questions. He goes to Google search and ask his questions and gets a variety of answers from different viewpoints. At the end of his curiosity, he only gets enlighten while liking, commenting if there is an area he is not clear about, and then shares the content to his friend on all social media platform to also digest the answers and they also drop their comments, likes, and share. Tom has played a major role in promoting that content but was not rewarded for his interest and curiosity.
Tom After Media Protocol
Tom recently came across the Media Protocol platform and he is delighted by the platform and all it offers. Media protocol being a platform where content promoters are rewarded for their interest in a decentralized manner. Tom began to really get involved in the Media protocol platform, he was rewarded for his activity in promoting contents, he received Media token for his like, comment and share for the contents he loves and he is enlightened. Media protocol rewards Tom for his interest, curiosity and the time spent online.
Official Contacts
Website : https://www.mediaprotocol.org
Telegram : https://t.me/Media_Protocol_Community
Medium : https://medium.com/@mediaprotocolsm
ANN Thread : https://bitcointalk.org/index.php?topic=3396313.new
Facebook : https://www.facebook.com/MEDIAProtocol/
Twitter : https://twitter.com/MEDIA_Protocol
Whitepaper : https://www.mediaprotocol.org/papers/whitepaper.pdf
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Good Luck, Happy Investing.
This article is not a financial advice. Investing in ICO may be extremely risky, always remember to do your own research and consult financial and legal advisors before investing in ICOs.