It wouldn’t be fair to the entertainment industry if blockchain technology couldn’t revolutionize video content consumption. And that's exactly what VirtuTV does, bringing blockchain technology to Youtube, Udemy, and Patreon. Virtu is all set to decentralize these platforms to bring the power of the content back to the content creator and the content consumer.
It aims at creating the next generation content consumption experience, where creation and consumption are rewarded.
Know The Virtutv Team
The team consists of a group of blockchain enthusiasts and developers with extensive experience in start-ups, development, and blockchains. The team is comprised of Pavan Katepalli as an adviser and full-stack developer, Vincet Porta who is also a full-stack developer and a co-founder, as well as Nick West, William Vasquez, Dzmitry Dubarau, and Matt Davis.
The team aims to tackle some of the issues like demonetization, censorship, unfair compensation practices, and high monetization turn-around time that content creators face in the wildly popular content platforms like Youtube.
Being A Content Star
The platform uses an ERC20 Ethereum standard coin called VRTU tokens for content compensation and transactions. 1 ETH buys 160 VRTU prior to the platform launch. There will be 100 million VRTU in static supply in the platform, 50% of which is earmarked for the early VirtuTV users.
The platform is a very simple to use distributed content hosting system, where you can post video content by singing up. On singing up, you will also get 10 VRTU coins to get you started in the platform.
Earning Big In VirtuTV
You as a content creator are paid per view or from donations made by the viewers for unlocking locked content. Content creators are also compensated by the advertising revenue generated in the medium. In either case, VirtuTV ensures that a majority of the revenue goes to the content creator.
Built with the Ethereum blockchain and smart contract technology, the videos are stored on a decentralized, peer-to-peer data store, and if you are not a content creator, you can earn by streaming content to users or flag inappropriate content on the platform to earn from the community bounty pool.
All Of Social Networking
VirtuTV comes equipped with all the usual social networking engagement tools like Profiles, Likes and Dislikes, Nested comments, Video channel subscriptions, and sharable video links.
Where Is My Wallet?
The Anonymous Content Creator
In VirtuTV, the content creator can remain anonymous and does not have to reveal personal details about themselves to receive or give payment. Unlike the popular centralized content platforms, this gives the content creator the benefit of anonymity and safety.
Power To The Content Creator
VirtuTV ensures that the power remains with the content creator and not with the advertisers. You are going to have your freedom of expression completely preserved here.
Videos that fit the policies of the platform can never be altered or taken down.
Do You Have The Reputation?
You as a content creator will be rated. If you have high reputation scores you will also get to have promotional advantages with your content in the platform.
But…What About The Market?
The platform is going to face tough competition from big centralized video content platforms like Youtube and it isn’t going to be easy for VirtuTV, especially when the customer has the option for free content in these centralized platforms.
Success Is Around The Corner
For VirtuTV, despite the competition, we feel that success is just around the corner, especially when they have the potential to attract high quality content. Whether this new platform succeeds or fails will be entirely up to the consumers.