PressCoin is a special form of Initial Coin Offering. It is ideal to step back so we can get our hands around the size of this digital currency opportunity. This post will discuss the potential growth of PressCoin over the next few years and serve a $100 B market, and how we can gauge the market size that is presented by this ICO.
The declining news economy
We now understand the role of the Internet, specifically Google and Facebook in the continuous decline of journalism as well as the broken democracies around the globe. Emily Bell, the Director of Digital Journalism at Columbia School of Journalism delivered a speech entitled “The End of the News as We Know It: How Facebook Swallowed Journalism”. Her 2016 speech had a wide impact, and her projection really dug in a year after.
The media industry, a significant channel in the flow of information around the world, had to rely on Google and Facebook in order to survive. And it seems that the industry is struggling to adjust to the changing times. The recent US Presidential election was mired in blatant propaganda propagated by paid trolls. “Fake News” became a popular search term within weeks.
The two mega internet companies, Google and Facebook, are supplying the vast volume of online traffic to news sites, despite the fact that they are raking in the largest piece of the pie from content that they don’t even produce.
This new status quo is not only damaging the media economy, but it also cannibalizes the advertising sector. Around 30% of the world ad industry (around $ 560 B) are now in digital format and about 60% of this is now controlled by Google and Facebook via fully automated digital markets. Furthermore, the entire digital ad growth is shifting towards Google and Facebook.
To put it simply, the media economy has been bleeding for around two decades now, and it can be too late to implement any scalable solution. The media industry has been disrupted by the Internet.
Stagnant Innovation in the Media Industry
Unfortunately, the depth of this problem has also affected the innovation in the industry. Media startups that have been funded by venture capitalists have emerged in the last five years. However, these online media organizations such as Vice, Vox, and Buzzfeed have very minimal growth. The media economy has proven itself unable to come up with new business models and unable to organize a unifying strategy against the current Internet duopoly.
Meanwhile, it is in a positive light that the industry is at least aware of the gravity of this problem. And being a huge market, a viable solution here is in a clear position for disruption and a high risk-reward solution will grow.
PressCoin – the digital token for the media economy
At its core, PressCoin is a set of platforms that is established to serve all the players in the online media network. This includes entrepreneurs, investors, activists, neighborhood organizations, non-government organizations, advertisers, pollsters, citizen reporters, politicians, media agencies, PR firms, digital agencies, merchandisers, news agencies, subscribers, readers, moderators, commentators, curators, editors, journalists, and publishers – and other players in the media industry. They can access PressCoin so they can improve their line of profession.
The unique platform of PressCoin will also have deeply rooted marketplaces to allow principal players – mainly publishers – to work together and develop content within the ecosystem. PressCoin is positioned to fix the broken world – not only the broken media economy – but also the damaged democratic facilities that have been let down by publishers around the world. From its end, publishers will be enticed to participate in the PressCoin ICO in three primary ways:
- Exclusive access to a connected pool of economy readers in the PressCoin platform who could bring more value to their publications via active contribution
- The chance, via trading this digital token, to own an equity of the platform technology via smart contracts.
- Exclusive access to the data-driven publishing technology created to provide a high-quality experience for readers.
Publishers will have the ability to trade online traffic, advertising, and content using the PressCoin tokens as the glue that will bind all the players together.
News usage and the GDP of the media economy
At this point, we will learn the usage of PressCoin as a disruptive force in the current situation. As this token grows – initially to unify a declining industry – the creators of this token sees rising demand for this cryptocurrency via organic liquidity. PressCoin is designed to bring wealth back to publishers and empower them to invest more in the development of their content. In the last 10 years, the online giants have made online advertising a global, borderless market.
This will fuel the growth acceleration of PressCoin as the token will compete in the same field – initially on the sides, collaborating with early adopters – most likely niche media outfits, bloggers, and publishers.
Bigger publishing companies are expected to catch on the trend as the GDP of the emerging PressCoin economy grows. Media companies will soon realize that they need to upgrade their production processes if they want to survive.
And alongside this economic growth, the value of news can be used as an indicator of the business health. When the volume of business is rising, the GDP will also rise, if not, it will decline.
Remember, governments usually add liquidity to the markets by printing more money. The process for token sales also follow the same philosophy, triggering economic activity within the ecosystem by providing a means for players to deal with each other and grow their wealth as one.
PressCoin’s growth projections
The economy composed of advertising, news, media and other related fields is estimated to be in between $650 Billion to $1 Trillion in size. This depends on how many adjacent industries you will consider in the estimate.
PressCoin aims to take at least 5 percent of this global market within five years – grabbing between $30 Billion and $50 Billion opportunity.
And every dollar of revenue, once it moves through an economy comprised of inter-related members will have a follow-through impact on triggering more deals as the currency change hands in the exchange of products and services.
This is gauged as the currency velocity, which has the tendency to be higher in more robust economies. PressCoin’s basis of usage is formed on the sum total of all these transactions.
In this manner, PressCoin aims to build high-quality of organic, usage-based demand as well as liquidity in the cryptocurrency markets. PressCoin’s initial listing on the CointypeX is scheduled before the year ends when all investor tokens are already disseminated.