FORMLESS announces the launch of decentralized music and video streaming protocol SHARE
The content distribution engine for the Metaverse and the internet experiences of the future is now available on Ethereum and Polygon Mainnets.
BOSTON, Aug. 16, 2022 /PRNewswire/ — Today, Formless, Inc. announced that the Share protocol for audio and video content distribution is now available on the mainnets of both the Ethereum and Polygon blockchains. The protocol changes how digital content, such as music, is valued and distributed––giving content creators control, and shifting how they get compensated for their art.
Founder Brandon Tory commented, “The way digital content is distributed puts control in the hands of only a few companies. This has led to business models that largely benefit those companies and marginalize creators. For example, payout rates from music streaming are so low that 99% of artists cannot make a living from their music. We have an opportunity to change that by leveraging blockchain and Web3 tools to benefit artists directly.”
The Share protocol enables creators to distribute their music, podcasts, videos, and other content peer-to-peer using smart contracts. The creator controls the access terms, including the price and the duration of time that the content is available. Consumers can then view or listen to the content by paying for access, and the creator receives royalty payments instantly.
“At Formless, we believe that while ownership is important, providing opportunities for creators to have control is just as essential for unlocking the potential of the creator economy. We created Share to give creators control of how they distribute their audio and video content in a massively scalable way on blockchain. This gives them a new way directly reach consumers and make more money than going through a distribution intermediary,” commented Tory.
Today, content creators can register to pilot the Alpha version of Share to distribute their content, and developers or organizations interested in using the protocol for their Web3 or streaming applications are invited to review the protocol documentation.
About FORMLESS, Inc.
Formless is a Boston, Massachusetts headquartered music technology company with the mission of creating virtual and physical experiences that enable people to live more fulfilling lives. Formless was founded in 2018 by Brandon Tory, a signed artist, former Staff Engineer at Google AI, and former Senior Engineer at Apple. Tory’s story of pursuing his dreams as a musician and engineer in parallel is featured in national media that include: Forbes, CNN Great Big Story, CNBC, and Yahoo Finance.
For inquiries contact [email protected].
SOURCE – FORMLESS, Inc.