The streaming video industry is experiencing rapid growth, with the OTT video sector expected to reach $200 billion in 2023. However, the industry’s revenue-sharing dynamics are heavily skewed, favoring streaming platforms over content creators. This centralized structure results in limited earnings for creators, prompting recent strikes by industry guilds like the Writers Guild of America, Directors Guild of America, and SAG-AFTRA.
How decentralized video streaming works for the benefit of creators and viewers. Source: Replay
To address these challenges, Replay, a decentralized video streaming protocol, is leveraging blockchain technology to create a transparent and fair distribution ecosystem. Replay records content usage and compensation data on a distributed ledger, ensuring real-time compensation for creators. The platform also introduces gamification elements like badges, missions, and digital collectibles.
RewardedTV: Reinventing Viewer Engagement
Replay’s first streaming service, RewardedTV, rewards viewers with digital tokens, enhancing viewer engagement. Users can redeem these tokens for digital goods, and the platform includes features like leaderboards and competitions.
Empowering Creators and Redefining Distribution
Replay’s asset management portal offers creators real-time insights into content consumption data, enabling them to control their business models. The platform also allows creators to establish direct relationships with platforms, publishers, and communities that support them, giving creators more control over distribution.
The streaming video market is expected to grow at 14.3% CAGR. Source: Replay
Replay has joined the Coinbrit Accelerator program due to its potential to revolutionize the Web3-driven video industry. The platform’s experienced team and successful track record make it a promising addition to the accelerator program. Krish Arvapally, CEO of Replay, expressed excitement about the partnership and the progress in building a Web3 standard for tracking and monetizing video engagement.
RewardedTV’s Impressive Milestones
As of May 2023, RewardedTV boasts 100,000 registered users, offering over 4,000 video-on-demand options, 120+ linear and live channels, and access to 20,000 titles, including content from prominent brands like Yu-Gi-Oh!, The Washington Post, and WatchMojo.