Current is a blockchain-powered media app that wants to subsidize your premium subscriptions
Blockchain technology, cryptocurrencies, and token sale are all the rage right now. Currently, a new digital currency token (CRNC) is being introduced, which exclusively targets the media industry.
Taking advantage of this new trend is Current, a blockchain multimedia platform which on Wednesday announced it has stockpiled a total of $34 million. Backers include celebrity billionaire Mark Cuban, Mark Ecko, Chandler Guo, Binary Financial and a dozen more of VCs, institutional investors and overseas token buyers.
Current’s main goal is to facilitate the consumption of media and make it even more useful. With this in mind, their service is designed to bring together the best content and features from the most popular media networks including Apple Music, Spotify, Netflix and Hulu in one place and offer a personalized experience.
Current will reward you for consuming media
The company is currently offers its services through a mobile app which is currently available on iOS. The Android version is coming soon.
The system works by rewarding people for their streaming time, ad impressions and personal data shared. Current dreams big: it wants to reduce or completely eliminate premium subscription costs and also facilitate ad purchases. This will be achieved through rewards that one day might be redeemed for CRNC tokens or cash.
Current’s in-app purchases include radio recording for offline listening. The company says it also plans to release DVR features to record premium video content for playback in offline mode. More features will be made available in the upcoming months.
Current believes that fully engaged used can earn as much as $250 – $300 per year. Which will be more than enough to cover the costs of their premium media subscriptions.
Recently, the company also announced it has parented with CoinList in order to distribute its first CRNC token AirDrop to individuals who have participated in their AirDrop events. The platform is allocating approximately $6M in CRNC tokens, with the campaign expected to start in Q3 2018.