Viuly‘s decentralized blockchain platform for sharing videos has welcomed its 1 millionth user this week, after seeing a flurry of uptake in the past few months, with hundreds of thousands of new users signing up for the new way of watching and sharing videos online. The Estonian-based tech firm has witnessed 700,00 users sweeping to its Viuly platform in the first quarter of 2018, sharply taking its total user base up to reach the 1 million user mark.
Drawn to its free-to-upload video features, which also reward all active participants with the platform’s native digital currency, the VIU token, online users are experiencing the multiple benefits of a fair, open and decentralized ecosystem for video sharing.
In tandem with this swelling userbase, Viuly has seen the number of channels on its platform more than double in size since February to reach over 70,000 unique video channels. That comes along with video content almost tripling from 90,000 three months ago to over 260,000 today. Best of all, a quarter of a million users are visiting the platform every day to watch and share videos.
Viuly’s model of equitable revenue generation means that video producers don’t need to pay fees to upload and manage channels. Instead, unlike traditional video sharing sites, users who actively participate, either by creating and uploading or simply just watching videos, are being rewarded with VIU token.
VIU is the currency used to pay for products and services, such as advertising packages, over the platform. It is also tradeable against Bitcoin on the open market via cryptocurrency exchanges. To underline its commitment to community support and growth, a portion of funds from every advertising package sold goes directly towards supporting Viuly’s growing community.
Viuly envisions a rebalancing of the multi-billion dollar online video sharing industry, via a blockchain-based decentralized platform that eliminates the intermediaries of traditional platforms to create a fair and transparent system.
Empowering users and taking back control from unfair practices of third-party intervention, advertising revenue is shared back with creators and viewers, reflected in an incentive model featuring VIU tokens. Respecting and uplifting the ideals of freedom of speech and access to data, Viuly users will finally experience a fair and open environment for content. Viuly access is unrestricted, with all viewers allowed to access any video content on the platform.
With a peer-based moderation system, the community also decides what kind of content is allowed, gaining a reputation for their ratings. With Viuly, anyone is able to access and share any content, regardless of political or social jurisdictions. Recognizing Viuly’s idealistic mission and commercial potential, blockchain investment firm Krypton Capital has already backed the platform with EUR 150,000.