The video has become the chief source of online content, but the current top video sites, such as YouTube, are not taking advantage of the latest technological innovations and offer most content creators very little reward for their efforts. Flixxo is a blockchain-based application developed by RSK and PopCorn Time founders that uses smart contracts and peer-to-peer file sharing to fundamentally transform social networks into social economies.
Changing the Face of Online Video Streaming
Flixxo began when one of the co-founders of RSK (Rootstock), the smart contracts platform on top of bitcoin, who happens to be also a filmmaker, Adrian Garelik saw the potential of the Bitcoin cryptocurrency in creating an open and democratic video distribution platform. In 2017, he teamed up with Federico Abad, the UX/UI professional who created Popcorn Time, an immensely popular and innovative streaming application and one of the first decentralized applications. They were then joined by Pablo Carbajo, a cryptocurrency expert who had built up the renowned Riecoin digital currency. Rounding out the foundation of the Flixxo team is Javier D’Ovidio, the CEO of Edrans, a worldwide company that specializes in big data and artificial intelligence. Together, they began work on a new platform that would bring the power of blockchain technology and smart contracts to social media video distribution and consumption, allowing for greater interaction and rewards for both content creators and users.
Flixxo offers a decentralized alternative to YouTube that puts power, not to mention revenue, back into the hands of content creators. This is done by how the platform’s tokens, called Flixx, are used. Content creators upload a video to the peer-to-peer Flixxo network, and they decide how much Flixx it will cost for a user to watch their video. However, the smart contract associated with the platform’s blockchain technology allows for a lot of versatility. Creators can determine what percentage of Flixx earned will be shared with partners as well as with users who seed the creator’s video. Once a user pays Flixx to watch a video, they can seed the video for other users to access. When other people decide to watch the video, the user will then earn Flixx by being part of the seeding network. Content creators can choose to have a higher percentage of earned Flixx go to seeders in order to promote their work.
Rodrigo Saiegh, executive producer at FAV! Media, which produces social media content for such giants as Sony and HBO, praised Flixxo’s model:
“There are a bunch of new trends on digital content production, looking for disruption on digital distribution. By growing up an economy for teenagers and milennials, Flixxo will develop new business opportunities for such content.”
Unlike other video streaming platforms, advertising on Flixxo is extremely non-invasive. Advertisers purchase Flixx from content creators as they possess the majority of tokens in existence. The advertisers then decide how much Flixx they will pay out to users who choose to watch their ads. Everybody benefits from this system, and an organic financial ecosystem is created.
Flixxo Token Sale
Overall, Flixxo will issue one billion Flixx tokens, and this number will remain fixed as Flixx cannot be mined. The Flixxo token presale began on October 13th, and the Flixxo crowdsale itself will begin October 24th, 2017, and will last for 30 days. During the crowdsale, a total of 300,000,000 Flixx will be available for purchase. Flixx can be bought with ETH, and 1 Flixx equals 0.00025 ETH (1 ETH = 4000 Flixx). Those who invest early can gain significant discounts. The bonus program for the Flixxo crowdsale is:
- 30% discount for those buying within the first 24 hours (1 ETH = 5200 Flixx)
- 25% discount for purchases made within days 2 to 7 (1 ETH = 5000 Flixx)
- 20% discount for purchases made within days 8 to 14 (1 ETH = 4800 Flixx)
- 15% discount for purchases made within days 15 to 21 (1 ETH = 4600 Flixx)
- 10% discount for purchases made within days 22 to 30 (1 ETH = 4400 Flixx)
Flixx Token Distribution
The distribution of Flixx tokens will occur in the following manner. Thirty per cent of the total tokens (300,000,000) will be sold during the Flixxo crowdsale. Ten per cent of the total Flixx supply (100,000,000) will be allotted for the development team and partners, and these tokens will be vested proportionally in 2 years. Another 10% (100,000,000) of Flixx will remain in the company to cover the costs of the token sale, advisors, bounty program, and future partnerships with content creators. Flixx allocated for partnerships will not be cashed out but will instead act as a lien while creators work to earn more tokens by making additional uploads. The remaining 50% of the tokens (500,000,000) will be distributed via smart contract to entice users and creators to join the Flixxo platform and help build a strong community.
Adrian Garelik, the CEO and co-founder of Flixxo, states, “I’ve long been in love with cinema, which is why I love how the internet has facilitated the spread of works from people all over the world. However, the major video distribution sites are monolithic, centralized, and offer paltry rewards to creators for all their hard work. Flixxo represents a major shift as we are putting power and choice back into the hands of those who love to create or watch videos online. Blockchain technology is revolutionizing the world, and it’s time for that revolution to come to online video distribution and consumption. Creators are rewarded when people watch their work, and users gain by being part of the peer-to-peer community. We’re creating a decentralized home for video lovers where the audience and creators actually hold all the cards and reap the rewards.”
The Flixxo token crowdsale that begins on October 24th, 2017, is just the beginning. The first quarter of 2018 will see the opening of the company’s LA headquarters, while the second quarter will see the debut of the functional platform. Flixxo plans on featuring network integration with other video platforms by the fourth quarter of 2018, as well as the premiere of the Flixx exchange and Flixxo Marketplace. Early 2019 will be witness to the platform integrating with gaming, music, and marketplace platforms for greater versatility and functionality. In the end, the Flixxo token sale will herald a major change in video streaming as the power and innovation of blockchain technology is merged with the flexibility of BitTorrent peer-to-peer file sharing.