Viuly offers blockchain-based video sharing. Find out everything you need to know about Viuly and their ICO today in our review.
What Is Viuly?
Viuly, found online at Viuly.com, is a decentralized video sharing platform. With Viuly, authors can sell access to their premium content, receive donations from users, and earn from in-video ads.
Users, meanwhile, can watch free videos and get rewards. Advertisers place ads and pay fees directly to users. Advertising budgets are distributed among content creators and general viewers. There’s no middleman – like YouTube – charging high fees.
All payments on the platform are done automatically in VIU tokens. Transaction history is stored on the blockchain.
The ecosystem revolves around Viuly tokens, or VIU. These tokens are based on the Ethereum blockchain. They’re the main tool for transferring value between advertisers, content creators, and users.
Overall, Viuly aims to disrupt the multi-billion dollar video sharing market. They want to target major providers like YouTube by offering a decentralized, transparent, efficient platform with minimal fees.
Here are some of the core features of Viuly:
- Video content storage is decentralized (Viuly uses the IPFS protocol)
- Users can upload videos and create channels for free
- Video producers can sell access to premium content
- Viewers can support and donate to content creators
- Users can receive rewards in exchange for watching free videos
- Anyone can buy premium content using VIU tokens
- Advertisers can advertise on the platform and send payments directly to users – including video creators and viewers
- Open source software built on the Ethereum blockchain and smart contracts
What Problems Does Viuly Seek To Solve?
Viuly believes video sharing platforms like YouTube are ready for disruption. The company identifies core problems with today’s video platforms, including all of the following:
Users do not receive any rewards for watching videos; a user’s attention is a valuable resource, and yet user attention “is exploited without proper compensation,” explains the Viuly whitepaper.
Advertising expenses are increased due to intermediaries and fraud; Viuly claims that advertisers spend 15 to 20% of their budgets on fraudulent clicks, including bots and other methods of click or viewer fraud.
Video creators receive less profit; today’s video sharing platforms take 50 to 60% of advertising revenue, which means the people who are making content on the platform – the video producers – aren’t being fairly compensated for their work.
Viuly plans to solve these problems by rewarding users for watching videos, helping advertisers save on the costs of intermediaries with transparent statistics and accurate data, and giving video creators 65% to 90% of revenue raised by the platform.
How Does Viuly Work?
Here’s how Viuly works for each member of the video sharing economy:
Advertisers can upload ad videos to the platform. Advertisers can set a cost-per-view, then target demographics based on country, city, gender, age, and interests.
Advertisers can add their banner or a short promotional video for up to 30 seconds to appear in videos that are listed as free to view by uploaders.
Advertisers can add a video that promotes a specific product or service to the Viuly marketplace along with a text description, technical characteristics, and price.
The video will only be shown to users in the selected target group. The advertiser pays the cost-per-view to the platform, with the author receiving 65% of the money and the user receiving 25%. If a user is interested in a particular product, he or she can buy the product or service advertised in the video by clicking the “Buy” button and paying VIU Tokens directly from their wallets to the wallet of the advertiser.
For Content Creators
Video creators can upload their video and specify the price on a per-view basis. Users who are interested in watching premium content can pay the indicated cost, then immediately get access to the video. This could allow content creators to sell video lessons at a premium price, for example.
Video creators can also create a paid channel. Users can pay a daily, weekly, monthly, or yearly subscription fee for that channel.
Advertising is embedded in each video. Video creators can specify their videos as free to watch, which indicates they’re ad supported (not subscription based). However, users can also launch a video as “ad free” and place a donate button below the video. Viewers can support creators by sending them VIU tokens.
Users can watch free videos without ads. Or, they can support content creators through the donate button, subscribe to paid channels, or watch ad-supported videos.
However, users also have the opportunity to earn money by just watching advertisements. Users can choose to watch video advertisements uploaded by advertisers. In this case, they get 90% of the cost-per-view specified by the advertiser.
Users can spend their VIU tokens directly from their wallet. They can buy goods and services advertised in the videos they’re watching, for example, or pay sellers with VIU tokens.
Who’s Behind Viuly?
Viuly is led by CEO Ruslan Popa, CMO Silviya Martirosyan (CMO), Aleksey Vasyanin (CDO), Zahid Ali (Founding Partner and COO), Blake Pope (Founding Partner and PR), and Mahendra Panchal (Founding Partner and Blockchain Developer).
Popa has 12+ years of experience creating and managing IT startups, and has served as CEO of several payment service providers- including RuPay, Qiwi, and Rompay.
The development team released the alpha version of their platform in Q3 2017. They aim to launch their video sharing platform by Q1 2018. By 2019, they aim to have 25 million people on the platform.
The Viuly Token Sale
There’s a total of 1 billion Viuly tokens. During the token sale, 1 ETH = 2,000 VIU Tokens. 55% of the total supply of tokens is available for sale; 25% is going to the team (frozen for 1 year), 10% to a development fund (frozen for 2 years), 7% for mentors, 2% to a bounty program, and 1% to a bonus program.
There’s a hard cap of $30 million USD for the token sale.
The pre-sale is scheduled for October 10 to October 13, 2017, during which buyers can receive a 40% bonus. A maximum of 30 million tokens will be sold during the pre-sale.
The general crowdsale is scheduled from November 1 to November 15.
Video sharing platforms like YouTube dominate the marketplace. However, they provide a subpar experience to advertisers, content creators, and viewers. Viewers don’t get paid for watching advertisements. Content creators only get 40 to 50% of revenue generated by their videos. And advertisers lose money to fraud and middlemen fees.
Viuly aims to solve all of these problems with a decentralized video sharing platform. To learn more about Viuly, or to participate in the token sale, visit online today at Viuly.com.