Blockchain-based video content sharing platform Flixxo is set to turn online video streaming on its ear with a platform that rewards content producers and viewers alike. Their eagerly anticipated token sale launches on October 24, 2017.
What is Flixxo?
Flixxo is a community-driven video content sharing platform that combines blockchain technology with the Bittorent communications protocol to create a decentralized alternative to YouTube, Twitch, and other similar social sharing platforms. Innovative smart contracts plus the power of peer-to-peer file sharing work together to put power, not to mention revenue, back into the hands of content creators.
Here’s how Flixxo works:
Content creators upload a video to the peer-to-peer Flixxo network and decide how many Flixx tokens it will cost for a user to watch their video. More than just a pay-per-view model, the smart contract associated with the platform’s blockchain technology allows for a lot of versatility. Creators can determine what percentage of Flixx earned will be shared with partners as well as with users who seed the creator’s video.
Once a user pays Flixx to watch a video, they can seed the video for other users to access. When other people decide to watch the video, the user will then earn Flixx by being part of the seeding network. Content creators can choose to have a higher percentage of earned Flixx go to seeders in order to promote their work.
Rodrigo Saiegh, executive producer at FAV! Media, which produces social media content for such giants as Sony and HBO, praised Flixxo’s model:
There are a bunch of new trends on digital content production, looking for disruption on digital distribution. By growing up an economy for teenagers and milennials, Flixxo will develop new business opportunities for such content.
Flixxo Token Sale
On Friday, October 13, 2017, Flixxo will launch their Flixx token presale. The main token sale itself will begin on October 24, 2017, and last for 30 days or until the hard cap of 75,000 ETH is reached. There is a total token supply of one billion Flixx that will be distributed as follows:
- 30% (300 million Flixx) will be sold in the upcoming presale and token sale
- 10% (100 million Flixx) will be allotted for the development team and partners, vested proportionally in two years.
- 10% (100 million Flixx) will be held by Flixxo to cover overhead, bounties, etc…
- 50% (500 million Flixx) will be distributed in a “predefined and regulated manner” via smart contract as an incentive for users and contributors to join the platform.
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:
Beyond the Token Sale – A Glimpse into Flixxo’s Future
Adrian Garelik, the CEO and co-founder of Flixxo, explains the driving force behind Flixxo:
I’ve long been in love with cinema, which is why I love how the internet has facilitated the spread of works from people all over the world. However, the major video distribution sites are monolithic, centralized, and offer paltry rewards to creators for all their hard work. Flixxo represents a major shift as we are putting power and choice back into the hands of those who love to create or watch videos online. Blockchain technology is revolutionizing the world, and it’s time for that revolution to come to online video distribution and consumption. Creators are rewarded when people watch their work, and users gain by being part of the peer-to-peer community. We’re creating a decentralized home for video lovers where the audience and creators actually hold all the cards and reap the rewards.
The furor surrounding Flixxo doesn’t end with the token crowdsale. The project’s roadmap reveals some exciting milestones ahead. Having already successfully developed and tested a fully functional alpha version of their platform earlier this year, Flixxo plans to open its Los Angeles headquarters in Q1 2018 and officially launch its fully functional platform in Q2 2018.
Q4 2018 will see Flixxo implementing the ability to white label and integrate their platform with other video platforms as well as the launch of a Flixxo marketplace and decentralized Flixx exchange.
Finally, in Q1 2019, Flixx will roll out integration capabilities for other platforms, such as gaming, music, and marketplaces.
Are YouTube’s days numbered? What do you think about Flixxo’s platform? Let us know in the comments below.
Images courtesy of Flixxo