We live in a day and age where technology has made everything easy. Gone are those days when we need a pigeon to deliver a message, write letters to communicate or have difficulties in traveling long distances. One more aspect in which technology has made life convenient is in creating marketplaces for buying and selling. Technology has made it possible to sell anything from anywhere you are to wherever your buyer is located, independent of borders or distance. Isn’t that fantastic?
Most people, especially artists and content creators have had really difficult days before technology, where they struggled to sell or make profits from their creations. Either due to the barrier of distance or because of piracy, leaving them handicapped or restricted from earning a living from their work.
This has been a major challenge, and although the introduction of digital streaming platforms gives the foundation for a new economic model that would benefit the artists themselves, centralized streaming giants like YouTube and Spotify still take the lion's share of the revenues coming from artists’ creations. That being said, innovating the current technology behind digital streaming platforms can prove to be the long-awaited solution to this problem that has been eating away into the soul of every artist.
By creating a new peer-2-peer ecosystem based on cryptocurrency and blockchain technology, new streaming platforms have the potential to restore power and total control to artists, thereby assisting them to determine how their products are being priced and consumed.
Meet BeatzCoin
BeatzCoin is a digital currency created on the Tron Blockchain. It is a utility token that is being used on the VibraVid platform, a multi-chain decentralized digital streaming platform where content creators and users engage and earn instantly in cryptocurrency.
This platform is efficiently designed to stream audios and videos. It allows creators to upload, store, market, lease, and sell their content to users and also comes with the benefit of being able to crowdfund and sell merchandise and event tickets directly to their subscribers and fans.
BeatzCoin, powering the VibraVid platform, provides an ecosystem that allows peer-2-peer exchange between content creators and users for goods, services, and as a reward for enjoying content. BeatzCoin can also be used for the purchase of content on the platform, as well as for the promotion of creators’ content.
Components Of The Platform
To complement the three primary aspects of BeatzCoin which are the Video/Audio Streaming, Payment Incentivization, and License & Distribution Control, the platform is built using the BitTorrent File System (BTFS). This decentralized protocol allows for files to be shared and accessed by many distributed devices and also allows for the transfer of large files without the use of a centralized server.
Files on the platform will be accessed in relation to cryptographic hashes that verifies every data that is being transferred. The hashes are assigned upon upload of files to the VibraVid platform, which allows the files to be distributed amongst users and tracked via a BitTorrent distributed database of peers.
Also, it will be impossible for creators to have their files stolen on the platform through the use of third party plugins, as all files will be embedded directly to the site to prevent users from right-clicking and downloading files from the platform. Unauthorized downloads will also be curbed by the use of MusicTrace and hidden video watermarks which will be embedded on the platform.
All cryptocurrency transactions on the platform between users will be done using the Tron Mainnet. Transactions between wallets on the platform are confirmed in as fast as 3-5 seconds. A near non-existing standard Tron transfer fee of 0.1 TRX will be charged for each wallet to wallet transfer while VibraVid will be charging a small transfer fee in BeatzCoin for sustenance.
To prevent the upload of illicit materials on the platform, the team will monitor every content that is submitted for upload. In case an illicit file gets uploaded, its hash will be blacklisted which in turn makes it irretrievable. The community will also be able to determine materials that are not safe for viewing through directly reporting the content to VibraVid.
There Is A Solution For Every Problem
Although digital streaming platforms were introduced to make the lives of every creator easy in terms of how they get their work to reach their fans and users, there is, however, no denying the challenges that came with it. With a very high number of videos and audios uploaded to the major streaming platforms across the globe every minute, it is becoming increasingly difficult for a new or emerging creator to be noticed. It really is exhausting, spending time to create quality content and struggle to get people to see or hear it, let alone purchase it. This affects the quality of their work and causes a distaste in their consumers as they end up focusing most of their energy on marketing their product than creating quality works for their consumers.
Existing platforms focus mostly on increasing advertising revenues and there are little to no participation incentives to users while content creators on their platform. In some cases, content creators are offered a premium marketing solution while users get nothing for consuming content on the platform.
In an attempt to change the status quo in favor of content creators and users, VibraVid will be incentivizing them to create and enjoy quality content on the platform. This will, in turn, see a content creator focus on creating quality contents that his/her follower enjoys but will also earn them income based on the popularity of their content.
Content creators and users will be paid in BeatzCoin to create, watch or listen to what they love. Users will be able to decide if they want to see adverts when consuming content and creators can also decide if, and how frequently they want adverts to be displayed during the duration of their content.
A Platform For All
VibraVid is a simple-to-use platform with an easy onboarding process for anyone that wants to be a part of it. Upon registration, a Tron wallet is automatically generated that is uniquely identified with your account. All earning in BeatzCoin will be sent to this wallet.
VibraVid is beneficial to each and every one of its users, creating an avenue to earn for both the creators and the users. It gives total ownership to the creators and grants complete freedom to everyone to be able to decide what is shown to them and when.
There will be daily challenges on the platform to help keep up interaction and engagement as well as earn users of the platform BeatzCoin. There will be the option of searching for content by audio or video and play them on mobile or desktops. Creators can attach a cost to some of their content while others will be free to play by the users as decided by the creator.
Creators will be able to create crowd-funded projects and also sell merchandise and tickets to events. They will be allowed to set up bounties for users and also get rotation spots on VibraVid TV and VibraVid Radio streaming platforms.