Edgar Allan Poe earned just $24 for “The Raven,” now one of the most famous poems that thrills and inspires readers, listeners, and viewers the world over. Adjusted for inflation, his masterpiece would have earned him $754.91 in 2018, while his entire oeuvre, including poetry, prose, and non-fiction brought him $6,200, or about $195,018 adjusted for inflation. That’s all he got for 20 years of work that brought us one of the most impactful and enduring literary writing ever produced.
Poe’s financial distress stroke a chord with Austrian producer and composer David Brandstaetter, who was shocked to know how little the writer got for The Raven. While Poe lived many years ago, his experience resonates with today’s creatives who have to fight for fair payment and combat copyright infringements to earn a living.
You may create an immortal masterpiece that will transcend cultures and bring you eternal glory. You may be the greatest genius of all times and still live and die in poverty as greatness does not pay the bills.
“Poe’s work, especially The Raven and Annabel Lee, has always inspired me. He not only wrote some of the most famous poems of all time, but he also established the foundations of the detective story and science fiction!” Qravity founder David Brandstaetter said.
Being a sound designer at Rockstar Games Vienna and a producer at Sony DADC, David knows the needs of content creators, creative teams, project managers, and consumers. That’s how he came up with the idea of a platform for digital content that can facilitate the production and distribution processes.
David Brandstaetter founded Qravity in February 2016 to help bring original content to market. It didn’t take long to produce a working version of the Qravity platform ready for testing.
“In July 2017, we had a unique collaboration and communication tool for creative teams. Qravity also tracks tasks in such a way that creative members receive stakes in the content they help make. For example, a person who writes lyrics for a song gets a share, say five percent, of the song’s revenue. Every time someone buys that song, the lyricist gets five percent of that payment,” David explains.
However, the platform needed secure and transparent tools to protect copyright and prevent piracy, while keeping the whole process equitable. Blockchain and smart contracts technology fits in perfectly. It provides Qravity users with immutable and transparent records of their stakes in the projects they support and develop. Digital tokens called QPT confirm their input. Qravity delivers creators a share of revenue earned by the content they helped produce based on the amount of QPT they hold. They receive payments in Qravity’s cryptocurrency, QCO, which can then be traded on crypto exchanges, or spent in the Qravity marketplace.
“I was speaking with my friend and business partner Sascha Dennstedt, Qravity’s Co-Founder and CFO, about Poe and how, in some ways, little has changed financially for artists,” says David, “He said that we should integrate blockchain into Qravity. Some research convinced me that this made perfect sense.”
Qravity’s decentralized content production and distribution platform is designed to help content creators get a fair reward for their work and support their living. In doing so, the project strives to support continuous creation and consumption of high-quality digital content.
Qravity team is launching a pre-sale to support the development of the platform. Early contributors will be eligible for 30% bonus, available for two weeks, July 2-16, 2018. A regular token sale will run from July 17 to September 5, 2018.