Flixxo vs YouTube: The David and Goliath of Video Sharing Platforms
Flixxo is changing the landscape of video sharing and challenging YouTube by combining BitTorrents and smart contracts to create the first legal, decentralized content distribution network. Their token sale begins on October 24, 2017, at 2 pm CET.
Since Flixxo first burst onto the crypto scene in early September, people have been getting increasingly excited about the project, which is already being called the “decentralized YouTube”. Thanks to its unique monetization structure that rewards both content creator and viewer, Flixxo hopes to take a significant bite out of YouTube’s 1.3 billion user market.
BitcoinTalk user btcltcdigger commented:
One day, you’ll turn on your PS4 system (maybe PS5, who knows) and there, next to Netflix will be Flixxo.
Redditor u/Lloydie1 was similarly optimistic:
Woohoo. Take YouTube’s profits and split it to content creators, viewers and advertisers. Brilliant!
Of course, no project can rest on its laurels for long. Like comedian Eddie Murphy says, we find ourselves wondering, “What has Flixxo done lately?” In a recent blog post, the Flixxo team brought readers up to speed on some of the latest developments, including the addition of Transform PR CEO Michael Terpin to the project’s advisory board and Flixxo CEO Adrián Garelik’s upcoming appearance at the CoinAgenda Global conference in Las Vegas.
To add further value, security, and functionality to their project, Flixxo has forged a number of strategic partnerships. These include AdEx, Bancor, CoinFabrik, FAV!Media, Stremio, Wings, as well as RSK Labs and Popcorn Time, the founders of which are among Flixxo developers. Bitcoinist also spoke briefly with Garelik, who confirmed that Flixxo is currently in talks with several content-producing companies whose names have yet to be announced.
Flixxo is a video sharing platform that enables users to upload videos, share them with the community, and get rewarded with Flixx tokens (FLX). It is based on a peer-to-peer (p2p) distributed content storage system from which the actual videos will be transferred via BitTorrent and stored locally on the viewers’ devices.
The benefits of such decentralization are two-fold. First, it eliminates the need for costly hosting services and the massive bandwidth required to stream a large library of video content. Second, it removes the reliability and security issues typically associated with centralized data storage.
As a social network, Flixxo is fueled by Flixx (FLX) digital tokens. Users of the platform can use FLX to access content and reward contributors. Content producers can also use FLX to reward users for sharing and seeding their content. In addition to receiving FLX as a reward, users have the option of earning tokens by viewing ads and sponsored content. Since viewing these ads is strictly opt-in (e.g. users have to actively choose to watch it) the problems associated with annoying and intrusive traditional advertising become irrelevant.
The Flixxo developers explain:
Use your Flixx to reward the producers you follow, encouraging them to create more awesome content. Or keep your Flixx in your wallet and use them to buy a movie ticket, a pair of shoes from an online retailer, a chest of coins in your favorite game or even convert them to old-fashioned cash or up-and-coming digital assets, like Bitcoin.
The success of any content-centered platform is dependent largely on the quality of that content. To that end, Flixxo aims to strike an equitable balance between freedom from censorship and curated content through the use of content guidelines and community-based moderation.
According to Flixxo creators:
We know there is a thin line between filtering or curating content and censorship, and it is a fact that we have an open network for everyone to upload any content. However, Flixxo as a platform will apply certain filtering based on clear rules – there should be a behavior-code for uploaders in order to offer the right content to the right user.
Flixxo Token Sale
Flixxo’s token sale will begin on October 24, 2017, and will last for 30 days or until a maximum of 200 million Flixx has been sold. There is a total token supply of 900 million Flixx which will be distributed as follows:
Flixx tokens can only be purchased with ETH and will have a fixed exchange rate of 1 Flixx = 0.00025 ETH (1 ETH = 4000 Flixx). Early investors in the project are eligible to receive significant discounts:
- 30% discount for those buying within the first 24 hours (1 ETH = 5200 Flixx)
- 25% discount for purchases made within days 2 to 7 (1 ETH = 5000 Flixx)
- 20% discount for purchases made within days 8 to 14 (1 ETH = 4800 Flixx)
- 15% discount for purchases made within days 15 to 21 (1 ETH = 4600 Flixx)
- 10% discount for purchases made within days 22 to 30 (1 ETH = 4400 Flixx)
At the end of the token sale, funds will be allocated as shown below:
Do you think that Flixxo can challenge YouTube and make significant in-roads into the video-sharing giant’s market share? Let us know in the comments below.
Images courtesy of Flixxo