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The social networks of online video streaming are set to undergo a seismic shift with the launch of the Flixxo token sale on October 24th, 2017.
The video has become the key source of online content, but our beloved YouTube is not able to provide the latest technological innovations to apply and as a result, it has a limited functionality. Flixxo is a blockchain-based application developed by RSK and PopCorn Time founders. Its the most powerful feature is smart contracts and point-to-point file sharing to completely transform social networks into social economies.
Once Adrian Garelik, one of the co-founders of the top bitcoin contracts platform Rootstock (RSK), realized the Bitcoin cryptocurrency is a perfect tool for creating open and democratic video distribution platform. That was the motive for Flixxo has been developed later. The notable thing is the Flixxo team was constantly growing to gain more and more intelligent and enthusiastic people.
In 2017, Federico Abad, the UX/UI professional who created Popcorn Time, a popular and innovative streaming plugin and one of the first decentralized plugins joined the Flixxo project. Then the team was enhanced by Pablo Carbajo, a cryptocurrency expert who had created the renowned Riecoin digital currency. Finally, the Flixxo team was fully completed by Javier D’Ovidio, the CEO of Edrans, a worldwide company that specializes in big data and artificial intelligence.
Together, these people started working on a new platform development which would be able to combine blockchain technology and smart contracts to social media video distribution and consumption, allowing for greater interaction and making the profit for both content creators and users.
Flixxo is a decentralized alternative to YouTube that transfer power to the content creators directly. This is done by how the platform’s tokens, called Flixx, are used. Content creators upload a video to the point-to-point Flixxo network, and they decide how much Flixx needed for a user to watch their video. However, the smart contract related to the platform’s blockchain technology allows for a lot of diversity.
The founders can define 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, he/she 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.
Rodrigo Saiegh, Executive producer at FAV! Media, which produces social media content for such giants as Sony and HBO, spoke well for Flixxo product:
“There are a bunch of new trends in digital content production, looking for disruption on digital distribution. By growing up an economy for teenagers and millennials, Flixxo will develop new business opportunities for such content.”
There is one more distinctive feature of Flixxo. It provides absolutely non-invasive advertising. Advertisers purchase Flixx from content creators as they possess the majority of tokens in existence. Everybody benefits from this system, and an organic financial ecosystem is created.
Flixxo will issue one billion Flixx tokens, and this number will be kept at this level. The Flixxo token pre-sale began on October 13th, and the Flixxo crowdsale itself will begin October 24th, 2017, and will last for 30 days. During the crowd sale, 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).
The distribution of Flixx tokens will occur in the following manner. 30% per cent of the total tokens (300,000,000) will be sold during the Flixxo crowdsale. Then 10% of the total Flixx supply (100,000,000) will be handed round the development team and partners, and these tokens will be vested proportionally in 2 years.
Another 10% (100,000,000) of Flixx will remain for a 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 are working to earn more tokens though making additional uploads. The remaining 50% of the tokens (500,000,000) will be allocated via smart contract to entice users and creators to join the Flixxo platform and help build a reliable and powerful community.
Adrian Garelik, the CEO and co-founder of Flixxo, stated:
“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.“
Flixxo is a long-term project. So, the first quarter of 2018 will see the opening of the company’s LA headquarters, while the second quarter will see the release of the functional platform. Flixxo plans on customed 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 marked by the platform integrating with gaming, music, and marketplace platforms for greater diversity and functionality.
While talking about the integration it’s necessary to highlight the most recent event related to Flixxo. The partnership between Flixxo and decentralized advertising network AdEx was established. It provides both companies with great experience and allows experts to share their skills and best practices. Moreover, it’s expected that easy-to-manage and extremely innovative blockchain-based platform development will be the result of this integration.