STORICHAIN – Grow Story Together
Long before it became known as it is today, Harry Potter was just a novel. Starting from J. K. Rowling’s thoughts poured into the novel, Harry Potter managed to enchant many people and unexpectedly earned more than 400 million dollars from books sale. Moreover, along with the increasing interest, Harry Potter was adapted into films that also achieved great success. That is the power of the novel. A good novel not only makes many people fall in love with it, but it can also turn into a very profitable business. Novels, as well as scripts, webtoons, scenarios, etc., use stories as the source of their products. They are categorized into story industry, a growing industry with an estimated market size of close to 1.45 trillion.
Behind the success story of Harry Potter and the size of this industry, story industry has many problems. One of the biggest problems is idea theft. In this digital era, social media can be used for promotions or places for exchanging opinions, however, writers are reluctant to use it because of ideas theft. Another problem is profit sharing. There is no reliable data to provide adequate compensation or share excess profits among all story contributors fairly. These two problems arise due to a lack of trust among the parties involved. The best solution to ensure trust between all parties is to utilize blockchain technology and smart contracts.
Storichain is a global project that provides protocols for story industry via blockchain. Unlike other blockchain-based content projects, Storichain does not store original text data from the story but instead stores data in the form of contributions from all participants to the story called activity metrics. Activity metrics are used to calculate growth index as a basis for distributing profits.
Activity metrics are contributions made during the creation and transaction phases to systematically measure who contributed to the story, when and how they contributed, and how much each creator contributes to the story in the case of collaboration. In Storichain, contributions are calculated based on user roles. Storichain divides users into 3 roles, namely:
Storytellers are writers and people who contribute to the narrative through illustrations, translations, acting, and uploading videos.
Readers are users who read stories and give reactions after reading Storimations. Storimations is a story format that allows users to enjoy stories through video.
Producers are users who support the story by staking cryptocurrency into the story. The producer will read the story, do supporting activities, or purchase the story IP.
To facilitate understanding of Storichain, Storichain can be likened to a plant. Seeds are likened to the ownership of stories and to grow seeds/create stories, plants must get enough sunlight, water, and fertilizer. Sunlight is the reaction of readers, water is the author’s creation to make their own story with permission of the main author, and fertilizer is the support given by the producer. The three main elements of Storichain work together in growing the story and for their contribution, they get a contribution rate recorded in activity metrics. If the plant has been fruitful, the user will get a TORI based on the growth index.
Token Symbol: TORI
Token Standard: ERC-20
Initial Supply: 4,000,000,000 TORI
1 TORI = 0.0034-0.0035 USD
TORI is a utility token that will be used in the Storichain ecosystem such as for purchasing creative templates, paid reactions, support, and more.
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BTT Author Link: https://bitcointalk.org/index.php?action=profile;u=2256570