Replay Boss Says Ongoing Labor Strikes Prove “Lack Of Visibility Around Content Is Untenable” & Claims Blockchain Platform Launch Provides Alternative
13.09.2023 - 11:37
/ deadline.com
EXCLUSIVE: “The fact that the WGA and SAG-AFTRA strikes continue to rage on unresolved proves that the lack of visibility creators have into their content is untenable.”
Krish Arvapally, CEO of Web3 blockchain platform Replay, made the argument as his company launched its proprietary blockchain on the video, entertainment and media-focused Theta Metachain today.
Replay hopes its platform can revolutionize how entertainment dealmaking is done by providing a better platform for creatives to protect and monetize their IP. Theta Metachain is a system of interconnected subchains that aims to make digital transactions almost instantaneous and provide heightened transparency between creatives and vendors.
The Replay blockchain works to “measure and provide instant payout for engagement in online videos, solving issues of fragmentation and disparate viewership metrics in streaming,” according to the tech company. The issue of transparency and access to metrics remains central to the WGA and SAG-AFTRA strikes, propelling to offer its subchain as a Web3 solution.
Replay is minting its RPLAY token, which means allowing providing a basis for its users to measure engagement and offering an instant digital currency for their content. In effect, the token will operate the protocol, and track payments and how videos are performing.
“Content owners that license to streaming platforms still get their checks via snail mail, months after their content airs and with no insight into how those payments line up with actual viewership, despite the fact that all of this content is being enjoyed online,” said Arvapally.
“Replay blockchain is an open standard for tracking content viewership across smart TV, mobile and web. With RPLAY token