Blockchain-Based Royalty Distribution System for Streaming Platforms

As a burgeoning startup in the Streaming Platforms industry, we recognize the critical need for innovation in royalty distribution. Traditional methods are often opaque, slow, and prone to disputes among artists and content providers. To address this, we aim to create a blockchain-based system that utilizes smart contracts and NFTs to automate and transparently manage royalty payments. The project involves developing a decentralized application (dApp) where content creators can mint NFTs representing their work. These NFTs will integrate with smart contracts coded in Solidity to automatically distribute royalties based on predefined terms whenever their content is streamed. We plan to utilize the Polygon network for efficient transactions and IPFS for secure, decentralized storage of metadata. The project will also include integration with existing Web3 wallets like MetaMask to facilitate easy user onboarding. Key technologies will include Solidity for smart contract development, Web3.js and Ethers.js for blockchain interaction, and Chainlink oracles for off-chain data integration. Our goal is to enhance transparency, reduce disputes, and ensure timely payments for artists, thereby creating a more equitable streaming ecosystem.