Blockchain Enabling Decentralized Video Sharing
Decentralized video sharing platform Viuly has recently achieved its most recent milestone target of 1 million users with most of the new users having joined only recently, with around 700,000 users signing up in the last three months. The blockchain-based video sharing platform does not charge video uploaders any fees for displaying their content. In addition to the free service, Viuly also incentivizes its users through a participation program in which active users are rewarded with the VIU cryptocurrency.
The company aims to disrupt the multi-billion dollar industry of online video-sharing with its blockchain-based solution. Through decentralization and transparency, it aims to create a fair and open video network operating on an equitable model of revenue sharing. VIU tokens are the native currency powering the Viuly video platform. They are used to transfer value between advertisers, content creators, and users.
In addition to the 1 million users, Viuly has seen the number of channels on its platform more than double in the last couple of months. The total number has risen from 30,000 to over 70,000 and with that has come to an increase in video content, with over 260,000 videos, up from 90,000 videos 3 months ago. The number of daily visitors has now reached 250,000.
Viulys platform generates revenue without charging video uploaders fees for managing their channels. The platform allows all users, channel holders, and video uploaders to earn the platform’s native token, and tradable cryptocurrency, the VIU token, for viewing or uploading videos on the platform. The VIU tokens can be traded against bitcoin or used by users to buy various advertising packages. It intends to function much like a social media platform but also to be rewarded for their continued support and participation. To achieve this, some of the funds from each advertising pack go directly to the Viuly community.