As we noticed recently, there have been an increased amount of online materials related to blockchain technology, cryptocurrency, tokens etc. Maybe you’ve heard about these terms previously and you thought it that sounded complicated, too much or not worth it to try. With the Current platform, everything works very simply and you don’t need to have the prior knowledge about how blockchain technology works. Current Media Network also known as CRNC is an all-in-one platform that includes a list of popular streaming services like Soundcloud, Youtube, Spotify and more. While using these services, Current offers a few different ways to earn cryptocurrency.
CRNC currency and how tokens are spent on Current
CRNC, pronounced “currency” represents the digital token of Current. A token is obtained when the user streams media within the platform. The tokens can actually replace your cash when using them within the Current app for digital and physical goods:
• premium services: offline listening, add-free streaming or exclusive content
• donations and payments: send tokens to other users, buy tickets or physical goods
• advertisers: promoting your campaigns within the Current network
• future apps: being able to use your tokens for goods available on other apps outside of the Current platform
Then, each token that is earned will be split amongst the stakeholders: creators, curators, consumers, and referrers. The formula is simple and smart: initially used to reduce the costs of subscription and ultimately to encourage and support creators in uploading their content.
• The easiest way consumers can accumulate more platform tokens is by playing your favorite media within the Current platform.
• Finding and curating media content into popular channels rewards the users (the curators, in this case) with 20% share of tokens depending on the consumption of their channels and playlists.
• Creators can upload their content to platforms of choice (Youtube, Soundcloud, Spotify and more) and get paid their usual license fees in addition to a 20% allocation of accumulated tokens when the user consume that content via Current.
• Referrers
Therefore, as the platform increases its trust in blockchain technologies, stakeholders are impacted and earn tokens differently.
What is the total supply of tokens?
Current has settled a fixed total supply of 1,000,000,000 tokens allocated. During the token sale, 35% of all tokens, meaning 350,000,000 CRNC tokens will be available to purchase. You can find below how the remaining tokens are allocated:
• 35% Mining Awards
• 35% Token Sale
• 12% Team
• 10% Community growth & Strategic Partners
• 5% Advisors
• 3% Current Foundation
How can users redeem tokens within the Current platform?
Users will be able to redeem their CRNC tokens for their premium subscriptions while streaming to different services, such as Spotify, which is one of the media partners. The user can simply select which service they would like to redeem their CRNC for, following for Current to provide them a key to upgrade their service on that network.
The CRNC wallet – the simplest Onboarding
Using the Ethereum MultiSig wallet as their standard, Current will automatically create a CRNC wallet for every user. Giving the simple way of earning with CRNC, Current “will be the first digital wallet the mainstream public will own”.
Want to know more?
The token pre-sale takes place from the 7th of February to 21st of February 2018. You don’t want to miss it! So check their official: Website, Bounty Thread, ANN Thread and join the Telegram group.