Synereo Partners with the YouTube of China to Decentralize Content Economy

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The blockchain firm Synereo announced on Wednesday that it is partnering with major Chinese content production company Qiyi Culture to monetize the latter’s content in China.

According to the announcement, the partnership will entail Qiyi introducing WildSpark, a content monetization platform launched by Synereo. In its beta phase, WildSpark content creators already have a “combined footprint” of 1.5 million subscribers, the announcement stated.

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“The platform allows value and information to flow freely, cutting third parties out of the equation while giving creators and curators the chance to monetize their creations and earn cryptocurrency for content they distribute and promote across various social platforms,” the announcement stated.

Ting-Ting Yu, founder and CEO of Qiyi Culture, said his company is excited to partner with Synereo, which has a crypto token called “AMP” to incentivize users to reward content creators and be rewarded for content discovery and attracting new audiences. In other words, the better they are at matching content to new audiences, the more AMPs they’ll receive for their efforts, the announcement stated.

“We’re excited to partner with Synereo and incorporate blockchain technology to decentralize the content economy in China,” says Ting-Ting Yu, founder and CEO of Qiyi Culture. “As the demand for valuable content grows, so does the need to reward our users and partners who create and consume quality content.”

Founded in March 2015 Qiyi stated that it has produced content such as the documentary “The Centennial Code”, entrepreneurial talk show “Tingting Founding”, fashion talk show “Ting Style”, “Sister deformation”, a talk show breaking 10 million viewers per week, and many more.

Synereo was founded in 2014 by Dor Konforty and Andy McCutcheon, and offers blockchain-enabled attention economy solutions, allowing direct and platform-agnostic monetization of original content posted anywhere on the net, according to the announcement.

About Ken Silva

Ken Silva is a journalist who covers the financial services industry in the Cayman Islands and the British Virgin Islands.

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