Place/Date: Moscow, Russia - October 25th, 2017 at 10:59 am UTC · 7 min read
MDK, one of the largest Russian entertainment communities of over 20 million social media users, today announced the plans to create a new mobile app and to launch a new blockchain project decentralizing social media value and allowing participants to earn cryptocurrency rewards for active content creation, moderation and amplification.
The company is creating the MDK application – a platform for digital communications and commerce that delivers value to the creators, users, moderators, and businesses, and coordinates their actions. MDK app includes an internal reward system to motivate members for useful actions.
In order to launch the app, MDK token pre-sale aimed to raise $1M will start on November 7th. MDK token will serve as an internal currency of the application. Community members can earn tokens for creating quality content, active participation in moderation and commenting.
Market and Motivation
Social media content is created mainly by users. More relevant and engaging content generates more traffic and increases the revenues of social media giants. Facebook has gained $26.9B and VK – $155M in advertising revenue in 2016. Ad spend worldwide has been increasing steadily and is expected to reach almost $550BN USD in 2017.
MDK has developed the platform concept, where contributors can monetize their efforts and gain rewards for what they deliver. The project’s idea is to decentralize economic value and governance in social media and share them among the users. The key target is to establish the new global digital mass market. Therefore, the project’s key audience is not limited with the existing players of cryptocurrency market, but aims to comprise broader audience of internet users.
«Every day we receive thousands of news and memes from creators who wish to share the content with millions of users. Many are talented, but gain little attention or compensation in the existing social media. We envision a platform where everyone can share their content – and it will be up to users to decide its value. Although we don’t want to become yet another posting platform. We are empowering users to create memes, stories, videos, to grow the community, and to share its economic value”, says CEO and co-owner of MDK Roberto Panchvidze.
A total of 1 billion MDK tokens based on Ethereum will be issued. They will serve as an internal currency of the MDK application. Tokens will be accumulated on the platform and distributed between the active contributors through internal reward system. Thus, the MDK community members will be motivated to create quality content. It will attract more users, advertisers and business support, driving the token value on a daily basis.
All purchases in the ecosystem will be made by tokens. MDK users will be able to spend MDK Tokens on internal purchases, premium content, customizing and developing their profiles, promoting their content, and buying products, services, and other valuable assets offered by merchants and other members.
The key innovation is that common users are not required to purchase MDK Tokens. Instead, they can earn them by providing value to other members of the MDK community through content creation, curation and amplification in the MDK application.
“I think that MDK will implement this brave idea with blockchain. It will give the possibility to earn money for users not just for websites owners. MDK has all necessary for success: users, resources, competent managers and, which is the most important – has a will to change the Internet for the better“, comments this project Nariman Namazov, admin of famous imageboard 2ch.hk.
MDK app for iOS and Android – a worldwide entertainment community for the next generation – allows users to create, promote, and curate any content as well as to create local communities based on interests or location.
Content creation. Each user can create content and post it to their local community. After the content is published, it is evaluated by users. The more interesting the content is, the faster its rating grows, and the higher share of the rewards it gets. Content localisation system enables even the novice creators to become stars and gain tokens. Localisation also ensures that users get only relevant and up-to-date content.
Content moderation. Each user has a limited number of votes to spend to evaluate content posted by others. Using a Tinder-like model, the user acts as a moderator to upvote the content, skip it, or complain if they feel that the content is unacceptable. The most active moderators are rewarded with tokens.
Content commenting. Each post can be commented on, and comments that carry additional value can be voted for by users. A part of the reward for the post is be distributed between the best comments.
Gamification. The users rating reflects the number of tokens earned by them. The more tokens they get, the further they progress through the levels of application (getting to next level inquires more and more tokens). Each new level provides the user with new advanced features. Gamification options are aimed to further engage users in the entertainment ecosystem and eventually build a self-regulated community.
Internal reward system. All purchases within the application will be recorded in the internal register. Then, after deducting the commission of the application required to cover the operating expenses and to promote the application, tokens will be transferred to the users’ reward fund.
Business opportunities. For brands, an internal advertising exchange and content promotion options will be available. Those include sponsorship of thematic channels, content competitions, polls and surveys, brand missions, stickers and in-app customization, a marketplace for goods and services.
The launch of app is scheduled for Q3 2018.
“I believe MDK to be an extremely nice and promising project, it’s a very rare case of a huge existing customer base, largest one in Europe in fact and a very promising blockchain based business idea. And it looks nice as well. I love it“, says Pavel Vrublevsky, founder of RNP.com and ChronoPay.
MDK Team and Advisors
The project will be launched by the MDK executive team. MDK is one of the largest entertainment communities in Europe with over 5 million unique visitors per month, over 20 million subscribers, and monthly coverage of over 30 million unique users. The team including Roberto Panchvidze (CEO and co-owner of MDK) and Dmitry Aladyshev (co-founder of MDK), among others, have more than 7 years of experience in in creating and distributing entertainment content as well as community management.
Roberto Panchvidze has worked at MDK for over 4 years. Now he is head of Operational Management in the MDK group, and an expert in the field of creative projects.
Dmitry Aladyshev has established himself as a successful serial businessman. He is an expert in the field of creating popular media.
The project is advised by a legendary Russian internet entrepreneur Pavel Vrublevsky, founder of RNP.com and international payment system Chronopay.com and Nariman Namazov, admin of famous imageboard 2ch.hk.
MDK is the one of the most popular entertainment communities in Eastern Europe with more than 20+ millions of participants and 7+ years’ experience in the creative industry. Today it is a group of companies that unites its own creative agency (whose clients are Burger King, KFC, Unilever, Reckitt Benckiser, Mail.ru, Gazprom Media, Alibaba Group, etc.) and a group of communities in social networks (VK, Telegram, Twitter, Instagram, YouTube) with more than 60 employees.
Disclaimer MDK is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest