Viewly - New Approaches to Content Monetization

cryptotaofficial (56)in #cryptocurrency • 7 years ago

When YouTube platform first went online, it was mostly about fun and opportunity to share videos and socialize. At some point, many people realized that they are actually good at creating videos. They were able to create viral content, attracting hundreds of thousands of views. It led to the emergence of YouTube channels, subscribers and further improvement of the quality of content. Existing channels embraced a huge variety of topics from computer gaming to DIY and educational programs. Another side of the coin, though, is that to produce quality content creators need to spend a lot of time doing that. As a result, content monetization became the key issue for those who made the production of videos their main occupation. An ability to monetize content production, in this case, was essential to give creators an opportunity to make a living off their channels and keep the thing going. One of the standard approaches to monetization was context advertisement. Apart from the fact that YouTube takes a significant share of profits from ads, this form of monetization failed to produce in any way significant results. One of the reasons may be is that advertisements are a somewhat outdated form of marketing. Much more viewers rather would click "Skip Ad" than watch it till the end, and really few people click on the ads. Another way to generate revenues from video content are sponsorships, in which content producers receive financing from certain brands, in exchange including the advertisements for those brands directly in their videos.

Several of the relatively new approaches to the problem of content monetization include patronage and user donations. The former was initially successfully introduced by the Patreon platform. The idea is that part of the content is made exclusive and available only to the Patrons - users supporting creators financially through paid subscriptions. The concept of user donations is similar to "likes" people exchange on social platforms. Only in this case "like" would also mean a transfer of a small amount of money from the user who clicks "like" to the creator of the post. The concept of monetization through "likes" was implemented on Steemit and proved to be workable.

Viewly - a decentralized blockchain platform for storing user-generated video content plans to use both patronage and single-click user donations to help the talented video creators to convert their popularity into revenues. In its core, the system is based on CDN network of hosting providers equipped for storing and delivering video content, and blockchain network for conducting monetary transactions. The choice of providers for CDN is based on the reputation system, defining which of the providers are the most trustworthy and guarantee the best performance. User donations are organized through the platform's internal ecosystem based on the circulation of View tokens. Each user has a donation pool in the form of tokens stored in his or her wallet. Each time the user votes for a certain video, part of those tokens are transferred to its creator. The whole process that takes one click to accomplish is very simple in comparison to the complex procedures users usually encounter while trying to make a donation. Similarly to how it's organized on Steemit, user's comments are also subject to upvotes, which can stimulate participant's activity and communication. The second mechanism the Viewly platform offers for content monetization is the Patronage system similar to that on Patreon. According to this scheme, creators have an option to limit access to their special and exclusive content and make it available only to the most dedicated followers and fans who purchase monthly subscriptions to get unrestricted access to author's videos. Additionally, the system gives content producers ability to crowdsource their upcoming projects, using the support of their fan base. The platform also supports traditional sponsorship model; for those signing agreements with sponsors, Viewly provides a secure escrow service and the system of arbitrage for settling potential disputes.

In short, Viewly will potentially combine the best features of YouTube, Patreon, Steemit, and Kickstarter as a video hosting platform, plus blockchain microeconomy, opportunities for participants to monetize their content by selling monthly subscriptions, and crowdsourcing.

Team

Starting from February 22, 2018, Viewly will be conducting a token sale with an aim to distribute 100,000,000 View Tokens. The hard cap of token sale is $12,000,000. The sale will continue for 1 month or before the hard cap target is reached.

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