The fourth decentralized social media platform that caught my attention is called VibraVid. It’s a YouTube-like media streaming platform where content creators and users earn crypto.
YouTube (2006 – present), the second most visited website on the planet, is the world’s largest video hosting service. 400 hours of new videos are uploaded to YouTube every single minute by 800 million unique monthly users.
YouTube has managed to attract larger audiences than television itself and has historically been used by independent creators and large media companies alike. Some of the most successful indie video producers have become multi millionaire celebrities in the process.
But things have changed. They have changed because YouTube is a social media platform and as a social media platform, YouTube is a high traffic advertising platform designed to engage and entertain the masses with the goal of obtaining advertising dollars.
While YouTube’s advertising revenues are in the billions and tend to double every couple of years, established YouTubers report considerable losses due to increased censorship. Additionally, newcomers aren’t able to join YouTube’s Partner Program and monetize their channel until they reach 4,000 lifetime video views.
Discoverability vs. Quality
Most free streaming services make it rather difficult for talented creators to grow their viewership and monetize their content. As a result, an exorbitant amount of time, effort and resources is invested in marketing rather than the production of quality content.
As previously mentioned, blockchain technology, when compared to traditional business technology, has been developed to change the status quo by decentralizing business operations in favor of what is known as the P2P (peer to peer) sharing economy which rewards all its participants. In short, each income producing project is an economy in itself (i.e. ecosystem), consisting of a community of peers who are its beneficiaries.
VibraVid is here to provide an alternative to the existing model by rewarding content creators and users for their time and effort. Advertising revenues are distributed to both parties in exchange for content and traffic.
As a creator you can upload, store, market, rent and sell video and audio content. You can also sell merchandise and event tickets and accept tips from your fans.
Additional ways to earn come from allowing ads to be shown with your content. Creators with the most views earn higher rewards.
To market your work and grow your fan base, you can offer bounties and prizes and feature your content.
You can also crowdfund your work projects on the VibraVid platform.
As a user, you earn cryptocurrency for watching and listening to content and for opting to view ads.
You can also earn additional crypto for helping creators promote their work via bounties and prizes.
If you choose to save your earnings instead of spending them right away, you’ll earn dividends.
Who is it for?
VibraVid is a media platform for people who create and/or enjoy video and audio content, including music, film, entertainment, education, news, events and performances.
– popular video creators looking for alternative monetization platforms
– newcomers looking to start earning immediately
– video and audio artists
– musicians, singers, bands and music producers
– actors, comedians and movie producers
– documentary film makers
– audiobook creators and distributors
– online teachers and courses
– audio and video subscription providers
The BeatzCoin token
– total supply: 1 billion tokens
– unsold tokens will be burned
– tokens will become coins with an independent open source blockchain in the future
– tokens will be earned by creators and users and used as currency on the platform
VibraVid creators and users will be able to stake BeatzCoin and earn dividends. The proper description for this type of coin, rather than being proof of stake (POS), is POLS (proof of locked stake).
Locking is a form of price control as it tends to reduce price volatility. Instead of being dumped following a listing, the crypto is kept off the market for a predetermined period. Only a small amount is made available for trading which limits the supply, in theory, increasing demand. A limited supply helps keep the price stable or leads to price appreciation. If demand exceeds supply, people determined to buy the crypto become willing to pay more to get it.
Either way, in order to earn dividends, owners must keep the token in a wallet, thereby locking the funds.
The VibraVid ICO is scheduled to take place in late 2018/early 2019 and will start with a pre-sale. KYC/AML are mandatory and a third party audit will be conducted post ICO, the results of which will be shared with investors.