We all have our gripes about social media, but the biggest for creators, who rely upon the platforms to distribute their content, is that they’re helping those companies more than they're benefiting themselves. User engagement means advertising revenue for Facebook, Twitter, TikTok, and others, and the individuals helping to drive that engagement rarely if ever see a cent of that money. But creators are left with little recourse if they want access to the wider audience that social media provides.
RightsLedger started in 2017 as a digital content marketplace for independent creators, producers and distributors to facilitate deals across borders, without any of the issues of trust, transparency, high fees and small payments for creators that exist within the standard distribution model. In solving those issues, they realized that the greatest sources of creator content are the social media sites that provide for an audience and little else when it comes to content rights or reward.
That idea led the RightsLedger team to create Milio (Millennial + Portfolio), where content creators can reach targeted audiences around the world while protecting their content ownership rights. Milio is a community-driven social media platform of dispersed users that rewards creators and all users for the part they play in helping to grow the platform. When you share content, view others’ content, like, or comment on Milio, you’re given MilioPoints Points as rewards; these points can be exchanged to MilioTokens, a cryptocurrency that can be used to unlock premium features on the site. MilioTokens use a decentralized network for its unaffiliated and dispersed community of users. Creators will also soon be able to license and monetize their own content using Milio’s ERC721 non-fungible tokens as proof of authenticity.
Now RightsLedger Malta, in partnership with Quad-i ,a licensed broker dealer, has secured a listing agreement with GlobalTradeX (GTX), an exclusive licensed exchange within the Freeport Area of Bataan, or FAB economic zone, that allows for cross border trade and exchange of digital assets. GTX is bringing MilioTokens to their exchange as part of their mission to democratize the financial system and allow for international trading across multiple asset classes. Users who have earned MilioTokens will be able to go on the exchange to sell their tokens outside of the Milio ecosystem , and those looking to purchase MilioTokens for use in Milio will have a means to do so.
“We saw the value in giving social media creators an alternative, one that allowed them to be rewarded for their work while still retaining their rights, and we leveraged our existing rights management experience to develop and launch Milio. Our platform operates now with over a million users and is expanding rapidly, allowing a growing base of creators to register and license their content daily,” said serial entrepreneur and RightsLedger CEO Ray Young.
By rewarding people for the value they bring to the social media experience, Milio is upending the dynamic that exists between users and the platforms they’ve been forced to rely upon to connect to audiences or see user-created content. Creators no longer have to choose between getting views or getting paid for their creative work, or being forced to give up their rights to their work the moment they post. Anyone can sign up for Milio knowing that they won’t have to give up their power, and RightsLedger believes that it’s this sharing economy, or decentralized network, that is the future of social media.