About SleekPlay
The ubiquity of connected smart devices and their ever-increasing capabilities has led to a boom in demand for the consumption of rich media content such as music, videos, and games. This has, in turn, led to the popularity of on-demand streaming providers such as Spotify and Netflix as well as game publishers or developers like EA games and Gameloft.These offer huge varieties of content while adopting traditional monetization models (e.g. ad-based free tiers or paid subscriptions). These monetization models while successful in the past, have led to poor user experiences and declining revenues for the companies that adopt them meaning that alternatives are needed.
The on-demand streaming industry has been hit the hardest with dwindling revenues and practically zero profits [cita-tions]. Reports conclude that on average streaming services lose about $1.5 billion every year1. In addition, content creators on these platforms are usually not compensated fairly. This situation requires a functional solution that benefits all actors in the digital content distribution and monetization ecosystem.
The Sleekplay platform combines the amount of time a typical user spends on their devices, the computational power of those devices and the power of block-chain computing to deliver a monetization model that’s beneficial to the user, content creator, and service providers.
SleekPlay is a content monetization platform that reinvents the way digital content-driven applications are consumed, distributed and monetized. In essence, Sleekplay is a new cryptocurrency and blockchain powered platform for long-session applications that incentives users with rewards for contributing device computing power and creates a new stream of income for application developers. Long-session applications such as streaming and gaming apps as well as other applications that engage users for hours at a time are prime beneficiaries of the Sleekplay blockchain platform.
Content Monetization Reinvented
- Attractive Revenue Model
The Sleekplay content monetization model gives application developers or service providers the opportunity to earn revenue without compromising on the delivery of a quality user experience. Unlike traditional models that generate revenue but at the expense of users and brand equity, our platform leverages on new technology to provide a dynamic solution that eliminates the need for compromise on quality while also generating adequate revenue for developers or providers to remain profitable.
- Incentivized Engagement
Our model for content monetization is user-centric and user-friendly. We see the users as an integral part of the online content ecosystem, and as such, we provide a platform that enables rewards for engagement. The goal system adopted by Sleekplay encourages users to spend more time on applications, consuming content which overall is beneficial to the service providers and content creators.
- Flexibility
Whilst our model is dynamic and can comfortably replace traditional models without sacrificing profits, it is very flexible. Application developers/service providers can implement the Sleekplay mod-el alongside traditional models. Our seamless integration makes this possible as significant changes are not required to existing infrastructure. The advantage thus, is that new adopters of Sleekplay can ease into the model and appreciate how viable it really is while still generating revenue with other typical models.
- Favorable Compensation Structure
Our compensation structure is extremely competitive and one of the highest across the spectra of content monetization. We understand that the application developer/service provider should realize appreciable value for the content they deliver. Our model allows a fairer payout to our partners in comparison with industry standards. Payouts are made on a daily basis to avoid bureaucracy in accessing funds by our partners. Being a blockchain based platform, payments are also very fast and immediately available to our partners to facilitate business decision making and activities.
SleekPlay Advantages in the Incentivized Monetization Landscape
We recognize that we are in a market space that is still growing but already very competitive. However, we believe that our understanding of the problem and approach to solving it sets us apart from a few others entering the space. We offer a well-packaged solution that promotes cross-platform integration, zero demand on user technicality and profitability through our unique goal system.
Problem Definition: Traditional Monetization Models
- The Ad Model
Application developers and content creators adapt the ad model as a means of monetizing content. Users are given free access to content in exchange for viewing ads. However, these ads are interruptive in nature and impact negatively on overall user experience. Despite the poor experience, users are limited as to how much content they can access in an ad model scenario. Research has shown that users on mobile devices find ads more annoying than on TV platforms.
Research has shown that when users’ cognitive resources are required to complete a certain task within an application, e.g. gaming, advert interruptions can be very severe. Advert interruptions also cause a slowdown in content engagement and eventual departure of the user from the app.
Factors such as frequency of ads & un-targeted ads hinder how much users can enjoy a particular application adopting such a model for monetization. Eventually, brand equity is compromised and users are lost. Certain application developers that choose to eliminate the ad model in order to deliver quality to their users are torn between charging higher premiums and losing out on ad revenue. Clearly, a better option for monetization is re-quired that maintains quality user experience, does not drive up premiums and achieves the revenue targets of application developers.
- The Subscription Model
Content is monetized by charging the user a fee for a pay as you use basis or on a monthly basis. However, the expectations of a generation have changed; users simply want things for free and an option that comes as such will be preferred by the user. The subscription fee model is not bringing in the required revenue to make these providers profitable. Year on year earnings of service providers like Spotify, show that the number of paid subscribers remain low compared to free users and not enough revenue is generated to help them turn in a profit as a result12 there is definite price sensitivity; users will not bear high prices.
In-app purchases have boomed in recent times as the way of attracting revenue without charging fees or showings ads, how-ever, Sleekplay believes that this should be incentivized, whereby, these purchases can be discounted for users based on their contributions to the application. We believe that this is more attractive and encourages more purchases.
Solution: The Sleekplay Model
- A Unique Goal based Monetization Model
Our platform gives application developers a new way to monetize content and offer users incentives for contributing the computational power of their devices. Users can enjoy premium access, quality experience and unlimited content at no cost whilst application developers generate revenue from the value of their user-driven contributions.
Current industry monetization models revolve around a free ad tier approach or a subscription fee system for accessing premium content. We recognize the adverse effect adverts have on the overall user experience and brand equity. Hence, Sleekplay is built around a goal system.
The goal system forms the backbone of the Sleekplay monetization model. The goal system is built around the idea of long session engagement by users on Sleekplay powered applications or services. Users are given application engagement goals that are time-bound and tangible. Users that adhere to the set goals accrue all the incentives associated with the premium offering of a given Sleekplay powered application as well as direct incentives from the Sleekplay plat-form. Developers also benefit from increased application engagement.
- System Actors
Developer:
The owner, publisher or developer of an application, game or service. They are responsible for integrating with the Sleek-play platform.
User:
The user of a Sleekplay powered application, game or service.
SleekPlay API:
Handles distribution and sharing of rewards and payout.
How it Works: Value Flow Diagram
What determines a Goal?
A goal represents the daily amount of engagement time a user must put into a given Sleekplay powered application in order to enjoy incentives provided by the said application, as well as rewards offered by the Sleekplay platform directly.
A goal on the Sleekplay platform is a constant determined by, on one hand, device computing output and on the other hand, figures derived from our research done on long-session applications and core application categories (i.e. Media streaming applications and games).
From our research on our core long-session application categories, we deduced the following:
Average user session time for music streaming apps – 60 mins
Average user session time for video streaming apps – 140 mins
Average user session time for games – 180 mins
The average from our research is 121 mins (approx. 2 hours). Therefore, the constant value for a goal on the Sleekplay platform is 2 hours. This represents the amount of time a user is encouraged to use an application for in order to accrue rewards.
Blockchain Dynamics
- Cryptonote Based
SleekPlay as a blockchain platform is built around the Cryptonight Protocol that forms the backbone of all Cryptonote coins. Our decision to go with the Cryptonight Protocol to build the Sleekplay blockchain is based on its
- Lightweight nature that allows it to run on everyday devices such as laptops, mobiles, game consoles, etc.
- Its egalitarian proof of work that prevents extremely power machines from having an undue advantage, thus, maintaining fairness within the network.
- (III) It's adaptability that allows us to change certain parameters to better suit our targets as a platform.
- Overall acceptance as an industry standard protocol both for now and the future. Monero is a prime example of a cryptocurrency based on the Cryptonight Protocol and is very stable and trusted within the space.
- Mobile Mining
The Sleekplay blockchain enabled platform is designed to monetize applications that have a cross-platform focus. Whilst we strongly believe that mobile devices will continue to improve in terms of processing capacity, our model attracts adoption through mobile mining and encourages users to incorporate a plethora of devices to fully benefit from Sleekplay. This way, we are able to leverage on the ubiquity of Smartphones to grow the network but still overcome certain infra-structural limitations currently facing the technology.
- Web Wallet Manager and GUI Wallet
The Sleekplay platform has a web wallet manager which anyone can sign up and own right way. The wallet is a secure de-terministic wallet and it is live on the blockchain and the GUI is being developed. These wallets are extremely secure with a passphrase that only the user has and can only be hacked if someone physically gains access to that passphrase. The wallet will enable transactions to take place within the Sleekplay ecosystem.
SleekPlay Coin (Coin Economy)
The SKP coin economy is based on a number of factors integrated into the network to ensure that value goes up over time and the community backing the coin benefits as a result.
- Demand Mechanism
By limiting the amount of SKP in supply and making it possible for users to trade SKP in exchange for incentives, we are able to generate constant demand for the coin to enable its growth in value over time.
- Limit the amount of SKP in supply to 18.4 billion SKP.
- Reward users with SKP when goals are exceeded, which can then be traded.
- Implementation of further use cases to promote the liquidity of the coin.
- Digital goods economy
Users are rewarded with 25% of the SKP generated. This can then be used to purchase in-app goods. A good example would be virtual gaming goods. This also creates an avenue for developers to get SKP and keeps the coin within the Sleek-play ecosystem.
- Mining
The entire goal system is the backbone of the Sleekplay models is made possible by cryptocurrency mining. To meet the goals, users must mine which in turn will affect the economics of the coin. This is how mining positively affects our overall coin value.
- All devices are connected to a central mining pool to generate SKP for the network.
- All SKP generated directly goes to the pool and then distributed to developers and users based on hashes generated.
- 70/25/5 split between developers, users, and Sleekplay.
- Increased mining within the network resulting in an increase in coin value over time.
- Currency Trading
Having SKP traded on exchanges with high liquidity is also a strategy for having an economically stable coin. To achieve this goal, the coin has been designed to meet all the security and functionality requirements of popular exchanges. We are currently developing a robust GUI wallet which should be ready by the end of the ICO and integration of SKP into exchanges should be easy.
The Sleekplay Crowdfund
- Pre ICO Crowdfund
The Sleekplay pre-ICO will be done in two parts. First, we will have a unique private round which will commence on the 1st April, 23:59 GMT this event and its special rate is held exclusive for individuals contributing 15 ETH and above. These investors will have exclusive access to the entire project, the team and also stand a good chance to join the advisory board for the project. The private round will also offer SKP at its lowest value of $0.002. Our goal in this round is to raise $500,000.00.
The second part of the pre-ICO will begin on the 14th May 2018 at 00.00 GMT. A limited number of coins will be distributed during this pre-ICO and once the allocated amount is exhausted, the pre-ICO will end. The pre-ICO is expected to run for 7 days and the Sleekplay token will be distributed at a special discount during this period. This will guarantee that investors are rewarded for being the first ones to adopt this new innovation and their loyalty to Sleekplay.
The pre-ICO will also help us gauge public interest and perception of our vision and allow us to receive feedback from the community that will help us keep improving Sleekplay. We want this to be community oriented as much as possible.
- Pre-ICO Breakdown
Maximum for pre-ICO: 800,000,000 SKP (12.5%)
Pre-ICO price: $0.008 per coin
Soft cap: $1,500,000.00
Date: 14th May, 2018 - 00:00 GMT
- Main ICO Crowdfund
The main ICO will be announced in June. The main ICO will be run at a set price of $0.01 and once the hard cap is reached, the campaign will end. Any undistributed tokens will go into reserve.
Maximum for pre-ICO: 3,500,000,000 SKP (54%)
Pre-ICO price: $0.01 per coin
Soft cap: $7,500,000.00
Date: To be announced
- Coin Distribution
The total amount of coins within the Sleekplay blockchain is 18,400,000,000 SKP. 35% of the total money supply will be made available and the other 65% will be emitted as users meet set goals within the goal system.
SleekPlay TEAM
SleekPlay Summary
SleekPlay reinvents the online digital content space by combining device power and goals to generate revenue for developers and incentivize users.
Introducing the goal system into the marketplace, allows us to offer a model that is dynamic and robust where both users and developers benefit concurrently. We are able to meet current industry challenges with a feasible solution and envision the way forward for a better way of consuming and monetizing content that remains symbiotic to every player within the digital ecosystem.
This initial coin offering gives us the opportunity both to raise the needed funds for the project and also introduce our model to the world. We are able to generate interest amongst developers and providers to integrate with us and offer their users an opportunity to benefit from Sleekplay.
We see blockchain technology as a stable framework for building the future and reshaping the manner in which activities are carried out in our world. Content monetization can also be positively affected and it is our commitment as Sleekplay to see this happen.
For more information, Please visit the link below:
- Website: https://sleekplay.com/
- Telegram: https://t.me/sleekplayofficial
- Twitter: https://twitter.com/sleekplay_io
- Facebook: http://www.facebook.com/officialsleekplay
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