Since the latest so-called ban — which turned to be a “mistake” — the crypto universe wondered which blockchain-based video platform will turn itself into the new YouTube, a safe haven for free speech and, at the same time, the tool that will bring a fair economical reward to content creators.
First we need to understand what YouTube is, and how it brings value to the content creators that decided to upload videos to the platform, to reach audiences with a message or to make a living out of it. They are called YouTubers.
YouTube is unique. It is backed by Alphabet INC — the mothership of Google — , one of the biggest companies in the universe, whose revenue model is selling your information. They gather such information out of the big data generated by the multiple interactions that you and other billions of users do every second on every region of the world. In order to exist, YouTube needs more and more users, and it can acquire those users by subsidizing the upload, storage, and delivery of petabytes of shitty videos. Everything feeds the monster. The more rubbish, the more information they can gather from people consuming it.
Along with kids playing Fortnite, cute kittens and flat earthers, crypto enthusiasts found a place to reach an audience and speak about… well, crypto. YouTube can turn John Doe into PewDiePie or Ivan on Tech. YouTube has a huge audience waiting for new videos. That’s the great thing about YouTube, it has more than two billion users worldwide, and these users come to be served with anything that has an image in motion, at least once a month if not once a day.
Ladies and gentlemen of the crypto universe: we are a niche. If we create a “Crypto-YouTube” we are just gathering ourselves. We are speaking to ourselves. Audiences will still be looking for content somewhere else, probably on YouTube.
What would this “blockchain-based-YouTube” offer to the masses? What’s the selling point of this platform? Decentralization!
Who really cares? Tell my nephew to leave Instagram and start using this new decentralized social platform… will he care? Will he move? Are his friends already in? Nah…
What about a censorship-resistant video platform? Is that really possible? Ask LBRY or BitTube what would happen if a kid uploaded a video of himself killing a cat. Would they keep the video on their platform? Would they allow him to monetize on $TUBE or $LBC? As the CEO of Flixxo, I would definitely remove these videos and wouldn’t allow them to monetize on $FLIXX. We have the tools to remove videos, they have the tools to remove videos. If they didn’t, they wouldn’t even have a video platform. Look for DMCA policies on their terms and conditions… If I decided to upload Avengers End Game, they have the obligation of removing it. If they don’t, their token worth nothing.
A possible solution would be leaving the “moderation” — which is a euphemism of censorship — to the community. The problem is that the editorial line of your platform — there’s always an editorial line — will be controlled by the most active group in your ecosystem. Luckily they would have an understanding of all things, allowing every voice to have space in your platform. But that won’t happen. Along with the crypto enthusiasts, racists and extremists were also banned from YouTube long ago… What if they control your platform? A solution to this new problem would be creating niche platforms, but again we are missing the point of having a massive audience waiting to watch new stuff.
We haven’t talked about monetization yet. I will use our own token as an example. If our content creators got rewarded with $FLIXX for their contribution, but our platform model wouldn’t lean on top of ads, and the advertisers didn’t have to go to the market to buy $FLIXX… where would the value of $FLIXX come from? Where would the demand for the token be?. Advertisers need an ideal environment/place for their brands, they need to know that these brands are tied to the right editorial line — did I tell you?… there is always an editorial line — . If my ad was shown after a racist video or the video of a crypto enthusiast promoting a crypto-scam, I wouldn’t be happy. And I wouldn’t give away my money to your platform.
Platforms that decided to leave the advertisement model, would need to choose another model. Subscription, pay per view… anything. There should be a cash flow somewhere. If the model relies only on a token, and the value of the token depends on more users using the platform, then that platform would need an eternal flow of new users in order to be sustainable. And that is not likely to happen.
Video platforms need users. Users can only be reached with great content or with a new value proposition. That’s why we have decided to focus on short-form series and on moderated user-generated content. That’s why we have decided to produce some quality content. And that’s why we came out with the new GVOD model, a disruptive model that makes sense in the thriving video platform industry. And we use BitTorrent protocol to distribute content not because we are anarchists, we use it because it is cheaper than traditional content delivery networks. And we use it because it is eco-friendly, and has the potential of saving 1% of the world’s electricity consumption. We are a company, and we want our token to be valuable. We are not idealists, we are building a sustainable business model.
Our model will not replace YouTube. And it will not replace Netflix.
Neither we nor any other crypto platform will. Our job is to provide alternatives, to test new models. Not to develop another YouTube. If we managed to attract a massive wave of users to one of our platforms, if these users understood the model and if they finally started to be curious about crypto and blockchain, then we would have succeeded.
Theta, DTube, BitTube, LBRY, DLive or Flixxo, you name it… the question is not which one is the best one or which one is going to replace YouTube. The question is how to work together, how to reach audiences together, how to educate together.
What we can learn from each other, what we can integrate from the other platforms in order to have better platforms is key to create an ecosystem.
Together we thrive. Let’s start the conversation.
CEO of Flixxo