Viuly recently went to Block O2O, Hong Kong based summit where the current and future states of blockchain are discussed. The summit was held May 8th and 9th in PMQ, within the fashion and entertainment district of Soho, Hong Kong.
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The decentralized video sharing platform met with people all over to discuss not only blockchain, but their own blockchain based program. Viuly utilizes the blockchain to provide a platform where videos are censorship resistant, more resilient to cyber-attacks, and provide more revenue to the content creators.
Big video platforms like YouTube take the lion’s share of revenue, usually around 50-60%. Viuly looks to change this status quo, providing creators with 95% of income.
More financial incentive for creators means more creators will be attracted to the platform, which translates to more content for the viewers. Viewers can be paid to view content, which is a monetary reward for them.
For advertisements embedded in videos, viewers can receive 25% of the cost per view specified by the advertiser. For promotional videos, this figure goes up to 90% of the specific cost per view.
All this is transacted with the native VIU token, which is used to pay viewers and content creators. The token can also be used as donations to channels, and viewers can also use the token to purchase goods and services detailed in videos.
More engaged viewers are attractive for advertisers, as it means cost effective marketing for them. The revenue from advertisers is distributed to the content creators and visitors, completing the positive cycle of growth.
This growth pattern has been effective, with the video sharing ecosystem already having more than 1,000,000 users and 76,000 channels that produce content.
Block O2O Details
Block 020 was a perfect opportunity, with more than 100 investors, 100 speakers, and 1800 delegates from 30 countries present. The audience consisted of entrepreneurs, engineers, financers, economists, and regulators discussing cryptocurrency technology.
Viuly took full advantage of this demographic, with the team participating in closed investor meetings. They took this time to pitch their company to interested partners and investors. Viuly team members Igor Glavatskiy, Zahid Ali, and Andrei Druta also went to the stage for presentations.
Glavatskiy is Chief Visionary Officer (CVO), while Ali and Druta are advisors. Ali is asked for expertise regarding strategic business development, while Druta counsel is given for business development.
They discussed the projects ethos, Viuly’s achievements, as well as what their roadmap means for the future of the blockchain based video platform.
Meeting with OKEx
When the team was not at Block O2O, they were visiting OKEx headquarters, meeting with people behind the crypto exchange.
This quarter saw not only the platform launch, but the addition and development of additional services. This trend of development will continue into 2019, where they hope to achieve 25 million users.