IQ Protocol Welcomes SATOR
Utilizing blockchain technology to further transform the television industry as we know it
When thinking about the world of blockchain and cryptocurrency, television might not be the first thing that comes to mind. However, as technologies develop, so too does the world of entertainment. In fact, if you think about the short history of television, its evolution has been shaped by advances that were not initially intended to transform the medium. Most recently, for example, web2 services like YouTube and Netflix have greatly altered not just the way television content is consumed, but also our expectations about the form and content of television serieses. So, even though the influence that web3 technology can have on television may not be obvious to many; for some, it represents an entire industry ripe for change.
IQ Labs is excited to announce that SATOR will be deploying on IQ Protocol. Sator is a decentralized application that aims to further transform the mainstream television industry as we know it. Let’s learn a little bit about how their platform works!
SATOR
Most basically, SATOR is a blockchain-based approach to television production and viewership that is social and participatory. Their goal is to democratize the typical viewing paradigm, wherein viewers generate the value of the content, yet the centralized entities receive the payout. Thus, they work to better align the interests of all parties involved in the creation (production studios), distribution (networks, and advertisers), and consumption (viewers) of series television. They do this by creating a peer-to-peer network in which anyone and everyone can help shape a show’s narrative and character development.
The SATOR platform and the SATOR (SAO) token create and distribute value across scripted series television participants in a manner that incentivizes the health and growth of the network and its competitiveness in an increasingly crowded and coveted space. Thus, Sator is a DeFi app that aims to better align the interests of television content viewers with those of content providers. The Sator Network provides payout to viewers via staking on the blockchain as well as rewarding users with series-based NFTs.
IQ Protocol + SATOR
Thanks to IQ Protocol, the role that NFTs play within the SATOR network will create a richer user experience and a new economy for asset owners. The use case for NFTs on the Sator Network is unique. NFT holders can influence the storylines in the TV show to which their NFT is related. Sator’s integration with IQ Protocol will allow Sator users to lend and borrow NFTs across its content metaverse, creating a richer user experience and a new economy for asset owners.
With IQ Protocol providing the basis for this service, Sator will allow their users — both lenders and renters of NFTs — to interact in a collateral-less, risk-free way. Instead of giving the original NFT to the borrower, IQ Protocol mints an expirable version of the NFT, ensuring that the original NFT is always returned to the owner. If there’s a guarantee that the NFT will be returned after a certain period, lending an NFT is essentially risk-free. The terms are governed and executed by trustless smart contracts, removing any middlemen necessary to uphold promises.
Moreover, it eliminates the possibility of borrowers ending in default, since they are getting an expirable version instead of the actual NFT. The minted “iNFT” can be thought of as a utility version of the original NFT, with specified logic such as the expiry period, how many times the NFT can be used for certain actions, the interest rate and more.
About SATOR
The SATOR.io platform and the SATOR (SAO) token create and distribute value across scripted series television participants in a manner that incentivizes the health and growth of the network and its competitiveness in an increasingly crowded and coveted space. SATOR is powered by blockchain technology which will only continue to advance, ensuring interoperability and other benefits that improve the way scripted series television serves its stakeholders. In this new decentralized model, efficiency and engagement challenges are solved as SATOR.io becomes the foundational platform to all scripted television series looking to leverage new technology in an increasingly on- demand future.
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About IQ Protocol
IQ Protocol is a decentralized money market for digital asset renting and on-chain subscriptions. The next money lego that allows users to rent wrapped expirable versions of digital assets without collateral for their utility, while allowing holders to earn by providing liquidity without risk.
