Viewly, a decentralized video platform powered by blockchain and peer-to-peer video sharing technology, announced on Wednesday that it has sold out its private pre-sale, raising nearly USD 8 million. The public token sale begins today.
Viewly is using the blockchain to eliminate the ad-based revenue model used by traditional online video companies to open the door for creators to monetize their content – even those without huge audiences, according to the company’s statement.
“Viewly can be described as a Vimeo 2.0 that will leverage the blockchain for creative monetization features that other platforms don’t or can’t provide,” explained Stefan Furlan, Director of Viewly, in a statement. “It will be a home for quality content and a midpoint between YouTube and Netflix for anyone starting out, where no one has to worry about subscribers and watch times in order to monetize their content.”
The company plans on releasing Viewly Alpha during its public token sale, as well as a Chrome extension. Without creators even needing to leave YouTube, the extension will allow people to use VIEW tokens to tip and support them. This is the first step in solving the demonetization problem, says the company. The extension will eventually support the Viewly platform itself and potentially others as well.
“Traditionally, video content would be passed through a distributor with many people down the line taking a cut before a reward would come to you,” explained filmmaker Steven Fletcher, one of those creators. “With Viewly allowing a filmmaker or other creator to be in total control of their content distribution.”
Viewly uses a peer-to-peer network and smart-contract-based transactions on the blockchain. Creators can utilize fan patronage, micro-payments, sponsorships, memberships, premium content and more to monetize their content.. Smart contracts allow for payments that are instant, trustless and permissionless.
Viewly’s public token sale runs for 30 days or until the hard cap of USD 12 million has been reached. The minimum contribution is 0.1 ETH.
For more information on Viewly or to download the whitepaper, visit https://view.ly/.