Currently, the use of cryptocurrency is mainly used within the crypto community. But it is still alien to the mass consumer and does not play a role in their daily needs. The market is waiting for a simple and convenient solution that will optimally overcome the obstacles preventing the wide use of cryptocurrency. Multimedia platform Litenett will alleviate these obstacles and consider the interests of all users. Litenett.com is both a social network and a large media resource with its own payment system. The service rewards active user behaviour and allows the use of social communication channels to promote goods and services. Our mission is to make cryptocurrency interesting and accessible to every user and business community.
Big Data, Business Services, Communication, Cryptocurrency, Entertainment, Internet, Media, Platform, Smart Contract
"MULTIFUNCTIONAL, MULTIMEDIA SOCIAL NETWORK WITH DECENTRALIZED PAYMENT SYSTEM ON BLOCKCHAIN, CONNECTING COMPANIES AND TENS OF MILLIONS OF USERS DIRECTLY
Currently, the use of cryptocurrency is mainly used within the crypto community. But it is still alien to the mass consumer and does not play a role in their daily needs. The market is waiting for a simple and convenient solution that will optimally overcome the obstacles preventing the wide use of cryptocurrency. Multimedia platform Litenett will alleviate these obstacles and consider the interests of all users.
Litenett.com is both a social network and a large media resource with its own payment system. The service rewards active user behaviour and allows the use of social communication channels to promote goods and services. Our mission is to make cryptocurrency interesting and accessible to every user and business community.
Project Litenett is, in fact, a large media resource with its own payment system and consumers united in a social network.
Our monetization model covers such areas as Music, Radio, Podcasts, Cinema, Video, and has a platform for people's diverse communication with the ability to create personal pages, groups, videos and microblogs.
In order to attract to us as small and also the largest media market players, we have created opportunity to manage their own products for music companies, cinema networks, radio stations and event companies. Having verified access to the common database, each company can independently, without intermediary services, deliver its products and services directly to the user through our platform, which will significantly reduce their expenses.
Litenett is not just a simple network to connect all social networks. It is a service that rewards active users’ behaviour, a meeting place for content sellers and consumers, and also a network that provides social communication channels to promote goods and services.
Three Pillars of the Litenett social network:
· communication between users and their interaction with companies;
· purchases of digital content and physical goods;
· reward for watching ads and taking active part in actions on the network.
o dashboards for companies;
o dashboards for users;
o chats and microblogs;
o mobile app;
o Radio and podcasts;
o Groups and artists;
o Releases and music catalogue
Video and Movie Portal:
o Video blogs creating;
o Earnings on Views;
o Films schedule programs
o Tickets purchase
o Payment system on Blockchain;
o Separate Dashboard;
o Top cryptocurrencies
o Low transaction fees
Our model gives every person the opportunity to earn by viewing ads and participating in the life and development of our community, which will undoubtedly attract millions of users, which will attract the big world brands and advertisers of different levels.
Litenett will reward users for viewing ads. 30% of the funds received by the project from advertisers and revenue from other services will be directed for payments.
Our platform carries one of the most important solutions to existing problems in the crypto market by integrating the decentralized crypto economy into social spheres, into everyday life, and by expanding the payment infrastructure and the ability to conduct secure crypto-payments to both advanced users and ordinary people using only a mobile application on the phone.
For businesses, our platform will become a convenient and simple solution, allowing us to communicate directly with the end consumer. The result: saving of significant funds by eliminating intermediaries in the distribution of their product and saving up to 10% by avoiding using third-party payment systems.
Our project presents a unique combination of a social network and a platform for companies. First of all, this is a new informational media platform with an expanded messenger and payment system; it presents not only the standard functionality of a social network, but also allows users to buy music, tickets to the movies or other events in the app, while the user gets a reward for viewing ads. For more detailed description of the project please check our website and technical documentation.
Content monetization options
Rights holders of video and audio content can use several methods of monetization:
● placement of audio advertisements in the radio - audiospot section;
● placement of audio advertisements in the section of free music - audiospot;
● providing unlimited access to audio content for a subscription fee;
● Placement of video advertisements in the section of video - videos;
● providing unlimited access to movies and paid video content;
● Banner and text advertisements.
Leading social networks earn 8-10 Euros per user annually on average. We calculated the average planned profitability of Litenett social network in relation to the growth of the audience:
· With a user count of 1 million per month (12 million per year) at a rate of €2.5 per user - the profit will be €30 million.
· With a user count of 10 million per month (120 million per year) at a rate of €3.0 per user - the profit will be €360 million.
With just 600,000 users per year, we will already be able to generate €1,500,000 of profit. That is only €2.5 per user per year. Given the existing statistics, this will be the lowest advertising tariff on the market, and that is what will attract advertisers.
Up to 30% of the company's profits will be allocated to pay users for viewing ads and for other activity programs. Token turnover inside the platform will already be between 9 - 430 million euros in 2019, and this without taking into account the external exchange of the token or the stock market, if any.
After the launch of the project, out of net profit, the company guarantees to repurchase tokens at the market price, but not lower than $ 1.0. We guarantee repurchase and full refund of the token price once the net profit of the project reaches $ 5 000 000 of net profit per year. This amount will be reached already at 2 million users per year, which amounts to 416 thousand users per month.
Advertisement on the Litenett platform and user rating system
On the Litenett platform, advertisers will receive a large set of tools for the placement and targeting of advertising content. The posted advertising materials will be displayed on the advertising listing. The pages, where advertising materials are displayed, are divided into groups and categories (targeting). Deep targeting is performed not only by interests, groups, age and regions, but also by the activity and rating of users, thereby, the advertiser can avoid unnecessary expenditure on showing ads to overly active users manipulating the displays to get more rewards. Thus, the advertiser is insured against diversion of resources.
Group creators do not need to search for an advertiser, as the group administrator selects advertising materials on the advertising exchange, which also displays the intended advertising budget. The administrator simply places the material in his group or on his page and the system itself charges the reward. When the budget is reached, the advertising material stops.
Rating system, user evaluation and promotion
Each user receives a reward for any advertisement, which he watched or clicked on. It all depends on his actions: just reading, clicking on the link to the page inside the platform, leaving a comment, “liking” or rating post, or switching to a third-party advertiser resource. The more actions the user makes and the longer he remains on the resource, the more reward he receives. These rewards are not visible for everyone, but the user can see his own amount on his dashboard.
To avoid manipulation by users, who deliberately click and go through all the ad units displayed to them, without any interest in the product or service of the advertiser, solely for the sake of receiving the reward, a rating system will be introduced.
The system tracks user behaviour, clicks, transitions, purchased goods or services, and ranks a user's behaviour rating. The higher the rating, the higher the payment for actions. Users who intentionally click and move on all displayed ad units will thereby reduce their rating, the number of ads displayed to them, and, correspondingly, the reward amount.
Additional reward for subscribers
More active users, who create groups or pages to generate interesting thematic content and attract many subscribers, can place someone's advertising post in their group. They will receive additional rewards if their subscribers make transitions, actively read, comment and evaluate the content. In this case, the system calculates automatically and charges the person who posted this promotional material on the portal.
Rewards for creators of copyright video content
The user receives rewards for views of his copyright video, downloaded by other users, same as, for example, on YouTube if there was an advertisement posted there.
Types of advertisement and rewards
An advertiser can select and set one or more types of advertisements, depending on the specificity of the target audience and one or more methods of reward for the views.
Types of advertisements depending on the specificity of the target audience:
· common, without a target audience;
· for the target audience, where the advertiser chooses and allows one or several thematic groups to post their content;
· advertising only for the target audience without the ability to post in groups;
· combination of the above.
· views, the quantity of views is estimated;
· likes evaluation or smiley rating system;
· click and transition to the advertiser page;
· click and transition to a third-party advertiser resource;
· subscription to the advertiser's page;
· combination of the above.
Any user can create advertising content. Similar to Facebook, our goal is to make the advertising model more complex and more targeted; we will pay reward from each Euro or USD received for advertising shown to you. Rewards are paid in tokens that can be exchanged on the dashboard for the top cryptocurrency or through the stock exchange for any other cryptocurrency. They can also be sold to us for fiat money. You can deposit and withdraw money to your account without paying a commission. Just like you do not pay PayPal for depositing Euro or USD to your account, you just pay for the transaction on the account. A small commission will be charged for cryptocurrency transactions by blockchain itself, as it all happens everywhere.
Work on the project started in 2013, and by the time we launch ICO, 60% of Litenett project will already be implemented. There is already a working prototype of project http://beta.litenett.com/
In addition to technical implementation of the project, we are actively working with leading radio networks and global music and film companies filling our database with materials. Today our database has more than 30 million songs, over four million music albums, hundreds of thousands of films and a full database of German films, more than 10,000 radio stations, hundreds of thousands of artists and actors.
Social network Litenett was created by Alex Capital GmbH. ICO, a company registered in Germany. We are a team of developers, which has implemented a number of media projects in the European market over the past 9 years.