AMA Recap Crypto Library with MILC


On 17th June 2021, MILC conducted an AMA in the Crypto Library Community. Our guest is Kartik Arora. Lots of questions as usual from the Community about MILC progress. The MILC team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into MILC.

Let’s take a look at the most interesting points of our conversation.

Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Kartik Arora (MILC) : I am Kartik Arora. I have been working on the community/marketing front in this industry for more than 4 years now, and I have built a fairly good network since. I have worked for quite a few projects while being in the background, and recently got this opportunity to be a contributor in the MILC Project. I will be leading the marketing front for MILC, and will be using my well-established network to create most awareness about it.

A little Team Background: 
MILC platform is being developed by Welt der Wunder TV team. Welt der Wunder has been in the media industry for over 25 years, and are a well-established firm in Germany and the DACH region. They have years/decades of experience in Content management, licensing, buying/selling, production and broadcasting industry. MILC platform will take the media industry a step ahead by solving some prevalent issues that this industry faces all over the world.
Crypto Library Team : What is MILC? and how your team can create this project?

Kartik Arora (MILC) : MILC's vision is to make the world of content more fairer, profitable, faster, accessible, and transparent to all participants, whether professionals or everyday users. Team has experienced various issues in the media industry, because of which the team decided to work on the MILC platform which will solve all such recurring/hectic issues. Quick summary about MILC platform: MILC platform aims to provide the industry with an open new marketplace for every professional and non-professional content provider and buyer that incorporates cutting-edge broadcast, blockchain and AI-technology which can become a game-changer for the entire media content industry.
It solves four fundamentally important challenges of the global media industry:
  • Global availability,
  • Discovery process for Buyers,
  • Complex licensing,
  • Early feedback from viewers.
MILC will ease up the licensing process, help in reducing the cost of generated content by removing middlemen, get early feedback on generated content directly from the consumers, and will make the content available all around the world in one go. Simple but a long-awaited solution at one place!

Crypto Library Team : What features and products does MILC want to offer us? And why we should choose MILC?

Kartik Arora (MILC) : 
Lets understand how MILC platform benefits the participants: Content Creators, Publishers and Viewers.
  • Creators will be able to upload their content, monetize it according to their terms, promote/market it, and even get funded from the community (Content Launchpad). 
  • Publishers (Streaming platforms like Netflix/Amazon, Broadcasting firms, VOD services etc) will get access to tons of content which is readily available for reuse/broadcast because of the easy licensing procedure.
  • Viewers get tons of content at fingertips, at low price and in their local language because of AI-translation and subtitling features. Plus they will also be able to propose and vote on changes because of the governance features.
MILC platform will be a one-stop platform for all your needs!

Crypto Library Team : Please tell us about $MLT token! What are the token use-case, distribution, and where we can buy it?

Kartik Arora (MILC) : Already live and being traded on Uniswap amd Pancakeswap.
The token of MILC platform will be $MLT.
  • $MLT token will be used to pay for any purchase taking place on MILC platform. $MLT token represents a one-click-solution including contract signature, approval and payment.
  • $MLT token will also be used as a governance token for the community to propose and vote for changes in the platform features, or in token utility.
  • The MILC platform will also act as a "Content Launchpad", where content creators can get funded for their work, and $MLT token will be required to participate in that.
  • And we will also support the $MLT token staking with our platform launch.
Crypto Library Team : Please share some information about your roadmap, your recent progress, and your future plans?

Kartik Arora (MILC) : What's coming next is our Public launch of our MILC platform. It has been in works since 2017, and we are finally reaching near to the public release of it!! It is expected to come out by mid-July. Just a matter of weeks now!! This will be our biggest milestone, but after that our product will support content from non-professionals too. This should go livr in around 6 months, but this will bring much more content supply and choices for the viewers.

Also will work as a career jumpstart for many good content creators! 
Crypto Library Team : In terms of MILC's Faster Payments section, the MLT token is expected to establish itself as a viable payment alternative, but how long the community have to wait? Why isn't it appropriate to accept FIAT currency for smaller transactions?

Kartik Arora (MILC) : Actually, a user can pay for the content using FIAT or $MLT tokens. He/she will have both the options. FIAT payments makes the whole process much easier for non-crypto users.
Even if they pay with FIAT, our integrated exchange API will convert the FIAT into $MLT tokens as $MLT ie required fot all transactions. (Greatly increases $MLT usecases) and about the speed of txns, that can be optimised by changing the gas fee used.

Crypto Library Team : I read that users who stake their $MLT Token will be rewarded with various in-game benefits. Could you explain us in detail about the benefits? Will these benefits be unlocked with a minimum amount of tokens staked or will be proportional to them?

Kartik Arora (MILC) : $MLT stakers will actually be earning $MLT tokens as staking rewards. They can also receive some extra benefits as more programs and promotional activities takes place. Exact details of the staking program, minimum requirement, statistics and other details will be out near our launch. Stay tuned for that!! 
Crypto Library Team : $MLT holders can participate in LaunchPad projects. Can you please tell what kind of projects will they be? Will there be any kind of projects, or will it be only related with what Milc is offering? Such as only content projects.

Kartik Arora (MILC) : Any content creator will be able to crowdfund his project. That's what the "Content Launchpad" will be for. Just share a demo/trailer to the users, and the community will decide if they want to fund/invest in it or not. Purely community-driven.

Crypto Library Team : At present all types of intermediaries are really exploiting both producers and consumers. How does MILC aim to eliminate them from the ecosystem? And what advantages will the MILC platform provide for both producers and consumers?

Kartik Arora (MILC) : MILC platform will remove the middlemens in the Content industry. Distributors' need is also heavily removed as content uploaded on MILC platform will be available all over the world in one go. Content Creators, Content Buyers (Publishers/Broadcasters etc), and Audience, all will be able to directly interact with each other in the MILC platform. MILC platform thus acts a bridge between Content Producers, Buyers and the Audience. VOD/Streaming/Broadcasting platforms will be able to get content easily on MILC platform, thus there won't be any shortage of content for them. Producers will be able to directly interact with their audience and get their valuable feedback. Then they can make some necessary changes based on their early feedbacks, and produce high quality content for the wider audience. Early feedbackers can also get rewarded for their valuable feedback. 

Crypto Library Team : I see that one of the pillars on which MILC is based is to provide availability of video content, however, does your platform also support audio, in a similar way to YouTube?

Kartik Arora (MILC) : Yes any kind of content can be monetized on the MILC platform. Videos will play a big role, but Audio can also be uploaded and monetized by the creator.

Crypto Library Team : What information does the platform require from users of MILC as content creators and what would they have to do to have access to all the functions of the platform?

Kartik Arora (MILC) : Content creators will just have to go through a small KYC process. Regulatory reasons.
  • All features are available to them then.
  • Viewers will also get all features for free.
  • Content is what which is monetized here.
Crypto Library Team : Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable?

Kartik Arora (MILC) : Our platform is built together with Swiss TXT media firm, which focused on media/IT solutions. They have been in this industry since 1983 and are highly experienced. Our platform has fun smoothly in the last few yesrs tested, and we sre confident on the public launch. More about SwissTXT: