MILC AMA Recap
MILC Platform aims to provide the industry with an open new marketplace for every professional and non-professional content provider and buyer that incorporates cutting-edge broadcast, blockchain and AI-technology which can become a game changer for the entire media content industry.
Today we have Eugen Nussbaum as Business Director & Kartik Arora as Project Lead of MILC Platform joining us to answer our questions for the next hour.
I am Eugen Nussbaum, based in Munich, Germany.
I am Business Director at Welt der Wunder, the brand and company behind the MILC project, since 2013.
During this time I have seen pretty much all facets of the media and broadcast industry, from production to buying/selling and broadcasting especially video content.
I am Kartik Arora.
I am the Project Lead of MILC Platform.
I have been working on the community/marketing front in this industry for more than 4 years now, and I have built a fairly good network since.
Question from the CryptoRank team
#1. Could you please tell us more about yourself and your experiences?
Eugen: – I came in touch with blockchain technology and crypto in 2016/2017, when we have been working intensively on the opportunities that blockchain and crypto offer in our industry and are convinced that this technology is a game changer in this sector and for this reason we have opened up the project to the crypto world.
Kartik: – I have worked for quite a few projects while being in the background, and recently got this opportunity to be a contributor in the MILC Project. I will be leading the marketing front for MILC, and will be using my well-established network to create most awareness about it.
Also a little Team Background:
MILC platform is being developed by Welt der Wunder TV team.
Welt der Wunder has been in the media industry for over 25 years, and are a well-established firm in Germany and the DACH region. They have years/decades of experience in Content management, licensing, buying/selling, production and broadcasting industry.
MILC platform will take the media industry a step ahead by solving some prevalent issues that this industry faces all over the world. 🎬
#2. Can you tell us about MILC Platform? What problems do you solve, both in the space and for the community?
Kartik: – About MILC platform:
MILC platform aims to provide the industry with an open new marketplace for every professional and non-professional content provider and buyer that incorporates cutting-edge broadcast, blockchain and AI-technology which can become a game-changer for the entire media content industry.
It solves four fundamentally important challenges of the global media industry:
– Global availability,
– Discovery process for Buyers,
– Complex licensing,
– Early feedback from viewers.
MILC will ease up the licensing process, help in reducing the cost of generated content by removing middlemen, get early feedback on generated content directly from the consumers, and will make the content available all around the world in one go.
Simple but a long-awaited solution at one place!
#3. What upcoming development are you most excited about?
Kartik: – Our biggest milestone in the near term is our platform launch, which is expected in just 3 months (or less).
Team has worked on the platform development since 2017, internally tested in 2 media firms for years, and now we are very close to its public launch! 🚀
Accordingly we are also having our TGE event very soon, on May 17th to be precise, as the $MLT token will play a key role in the MILC platform! 🎬
More details on our dual IDO on BSCPAD and ZENDIT:
Questions from Twitter
#1. What information is asked to use the MILC platform as a content creator and what would they have to do to have access to all the functions of the platform?
Kartik: – Sure!
A content creator will go through a small KYC to register himself on the platform.
Once done, he can upload any content he generated and monetize it according to his own preferred terms.
He will also get access to “Content Launchpad”, where he will be able to get funded for his content, and alsp promote it accordingly to the audience.
Pretty easy, but great usecase. 👌🎬🎬
#2. Do the token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project?
Kartik: – Yes token holders will be able to participate through governance in the platform.
They will be able to vote on platform features changes, and also on token utility (burn rate, staking rate etc).
Community/holders will play a key role in the MILC ecosystem. 🎬🎬
#3. Revenue is one of important aspect for all projects to survive and maintain the project/company.Also What is the way to generate profit/revenue of this project?
Kartik: – So MILC platform will charge 10% on the purchase amount.
This is significantly lower than 30-50% charged by other mediators.
Plus this 10% will also go lower as MILC platform sees adoption.
One another thing to note is that this 10% cost is also utilised to provide extra features like Ai-translation and subtitling, making the content more appealingto global users/viewers. 🎬🎬
Questions from Telegram
#1. As part of the audience community in MILC ecosystem, how do we get rewarded for viewing content and what would be our participation in the platform?
Kartik: – You will be able to provide direct feedback to producers, and these producers can reward you for providing valuable feedback.
You can also invest in content you like through the content launchpad platform.
Plus you can also use the platform for personal use.
Ai search algorithms, translations and subtiliting will make the whole user-experience seamless and friendly.
#2. There are major competitor like amazon, YouTube e.t.c. What are the competitive edges your project have in a way that it will draw more users to the platform? I know that the content consumers and the content creators can easily make money through the platform. Is there any opportunity for the audience/viewers?
Kartik: – These platforms are actually our customers, not competitors.
They can get tons of content from us at fingertips, as licensing and trade process is super-easy here. Not complex like used to.
#3. Can you tell us why content creators need to complete a KYC model? Also which others requirements do you need to set and go?
Kartik: – This is required for regulatory purposes.
Plus the person uploading content must provide content originated by him, and such steps forces them to not do any wrong acts.