Cinedigm, a serious American content material distribution firm, is making use of blockchain expertise to certainly one of its streaming channels.T
Cinedigm, a serious American content material distribution firm, is making use of blockchain expertise to certainly one of its streaming channels.
The corporate has partnered with decentralized video supply community Theta Labs to combine Theta’s peer-to-peer streaming expertise and cryptocurrency rewards into its CONtv Anime channel airing a variety of anime collection and films.
CONtv Anime will characteristic micropayments in Theta Gas (TFUEL), one of many two native tokens on the Theta blockchain. The token shall be used as a reward for sharing video content material by using extra bandwidth and computing sources in addition to watching the channel’s content material. In line with the announcement, followers will have the ability to earn as much as $15 in tokens per 30 days just by watching content material on their browser.
By incorporating Theta’s blockchain-based streaming expertise, Cinedigm intends to spice up person engagement and monetization whereas decreasing prices. Theta Labs mentioned that its streaming expertise can decrease video supply prices by at the very least 50%.
Cinedigm’s senior vp of merchandise and expertise, Tony Huidor, mentioned that the corporate views the partnership with Theta as a long-term alternative. It’s a “key differentiator within the trade and we imagine it should contribute to sustained viewer development and engagement within the premium OTT phase,” Huidor mentioned.
Wes Levitt, head of technique at Theta Labs, mentioned, “On this first implementation, CONtv customers will earn TFUEL micropayment rewards for watching the content material and relaying it to different CONtv customers. Future integrations may see rewards used to unlock different content material or distinctive experiences for token holders.”
“That is Cinedigm’s first publicly introduced partnership with a blockchain challenge, although they lately publicly expressed curiosity in NFTs for his or her content material library which we see as a really thrilling potential collaboration level,” Levitt added. Theta Labs initially teased this partnership with Cinedigm in late 2020.
Earlier this 12 months, Theta Labs enabled comparable TFUEL micropayments options for initiatives like dwell poker leisure platform World Poker Tour and leisure distribution platform Shout! Manufacturing facility.
As beforehand reported by Cointelegraph, the Theta community has seen some accelerated growth lately, attracting collaboration from Fortune International 500 corporations like Google, Samsung and Sony. Amid the community development, Theta Community’s token THETA hit new all-time highs in 2021, getting into the highest 10 cryptocurrencies by market capitalization in March.