Decentralized Video Sharing Platform: Empowering Creator-Centric Future
December 27, 2022
Today whether you are traveling via Bus, Train, or Plane, most people in your surrounding are using mobile phones. Smartphones' growing popularity and use cases have opened many business opportunities worldwide. Video sharing and streaming is one such market that is growing exponentially.
Video-sharing platforms are becoming crucial for education and entertainment as users get hooked on the perception of consuming information through visualization.
With the integration of blockchain technology, video-sharing platforms are providing better monetization options, enhancing streaming quality and copyright protection. For this, more content creators are moving towards decentralized video-sharing platforms like Odysee. Proponents believe blockchain-based video-sharing platforms will revolutionize the video streaming sector, benefiting content creators and audiences.
The growing demand for decentralized video-sharing platforms offers an opportunity for budding entrepreneurs to launch their video-streaming platforms. If you plan to be a part of this revolution in the video streaming sector, then our blockchain experts at RisingMax are happy to assist you. Our team leverages their in-depth knowledge and expertise to build creator-friendly blockchain video-sharing platforms. Connect over a FREE consultation call and discuss your decentralized video app idea in detail.
What Are Decentralized Video-Sharing Platforms?
Decentralized video-sharing platforms are similar to video-sharing platforms where creators post their content and users watch. However, the main difference lies in the network behind the decentralized video-sharing platform. The peer-to-peer (P2P) network in a decentralized video-sharing platform makes it easy to transfer files securely. To ensure fast data transfer, the data is broken into smaller blocks that are easy to transfer and download, thus ensuring high download and browsing speed.
A decentralized video-sharing platform works on a P2P network to transfer data but with an added encryption layer of blockchain technology.
Video Streaming Market Worldwide: Facts & Statistics
Revenue in the Video Streaming segment is projected to reach US$139.20 billion US dollars by 2027 with an annual growth rate of 11.48% (CAGR 2022-27).
With $34100 million in revenue, the United States generates the most revenue in the video streaming segment.
Several Subscription Video On Demand (SVoD) hits 1.2 billion users worldwide.
The number of SVoD segment users is projected to hit 1.63 billion users by 2027.
The average revenue per user (ARPU) is projected to amount to the US $69.66 in 2022.
User penetration will be 15.2% in 2022 and will be 20.6% by 2027.
The video streaming market is a growing business opportunity for entrepreneurs to capitalize on and be the market aggressor. Many entrepreneurs partner with blockchain development companies to launch their own video-sharing platforms. If you are interested in decentralized video-sharing app development, go through our next section to learn how they work.
How Does Blockchain-Based Video Streaming Software Work?
Blockchain-based video streaming software works on distributed peer-to-peer networks. The p2p network in decentralized video-sharing apps is connected with nodes that viewers can use to access the network. Here’s how the complete streaming ecosystem in a decentralized video-sharing app works.
The information will be passed to broadcaster nodes upon receiving a video streaming request from the streaming platform. The broadcaster then passes the information to the orchestrator nodes to handle streaming and distribution networks. With the help of CPU/GPU orchestrators, distribute the video. Orchestrators charge a gas free from the broadcaster, thus completing the entire streaming ecosystem.
The orchestrator plays a major role in blockchain-based video streaming software. To become an orchestrator, a certain amount of crypto tokens needed to be staked. To ensure maximum security and transparency, orchestrators’ tokens will be slashed if the video is streamed maliciously.
Blockchain-Based Video Sharing App: Revenue Model
Blockchain-based video sharing platform offers a combination of traditional and new revenue generation methods for content creators. While centralized video-sharing apps are more platform-centric in terms of revenue generation, decentralized video-sharing apps empower content creators. Here are some popular revenue generation models for your decentralized video-sharing platform.
Decentralized video-sharing platforms won’t charge any fees from the content creators to maintain a channel. On the contrary, blockchain-based video streaming apps rely on streaming fees to generate profits. Because of this, decentralized video-sharing platforms can generate regular profits even without ads or brand collaborations.
You can change a fixed subscription fee for users who want to view premium content on your platform. This is a proven revenue generation model where users pay monthly, quarterly, or yearly fees to view premium content from their favorite content creators.
Decentralized video-sharing platforms like Odysee generate revenue with content promotions. Content creators can pay an advertising fee to promote their content on top to ensure maximum content reach. Creators can ensure maximum fees while paying a fixed promotion fee.
Another revenue generation method from your blockchain video-sharing platform can be in-app ads. You can embed the commercial at the start of the video or pay views a fixed amount to view ads. Paying viewers for ads might look like paying from your own profits, but this will surely attract a large viewership on your decentralized video-sharing platform.
Benefits Of Blockchain Video Sharing Platform
Video Content Ownership
One of the biggest advantages of blockchain video-sharing platforms, they don’t rely on third-party servers. The peer-to-peer network empowers creators to have complete ownership of the content. Content creators can post videos on their terms and need not worry about blocking or restricting access by the host.
Better Video Streaming
Decentralized video-sharing apps use peer-to-peer structures to stream videos. In a P2P network, there are multiple points between the server and users, which allows it to maintain a higher speed while downloading and reading data.
Blockchain-based video-sharing apps offer encrypted data storage that eliminates the possibility of falsifying original data. Blockchain technology makes it easy for creators to encrypt their videos and ensure no duplicates of the original content.
Video Content Rights
Integration of blockchain technology allows video content creators to tokenize their video files and convert them into NFT format. Converting digital files to NFTs allows video creators to prove and protect their content ownership rights. Creators can easily buy, sell and trade NFTs to earn cryptocurrency for their work.
Integrated Smart Contracts
Blockchain video-sharing platforms come with integrated smart contracts that allow content creators to earn rewards and connect with audiences. Smart contracts ensure the creators that whenever there is a sale of NFTs, they will get a fixed share in terms of royalty.
These platforms eliminate the need to show viewers unnecessary ads to generate revenue. Blockchain video-sharing platforms generate profits from streaming fees. No need to rely on brand collaboration or advertisements to generate profit from blockchain video-sharing platforms.
While centralized video streaming platforms are subject to single-point failure, blockchain video-sharing platforms have no such issue. Blockchain video-sharing platforms work on peer-to-peer networks that make them completely secure from single-point failure.
Blockchain video-sharing platform allows content curators to earn direct revenue by streaming video. Viewers of the blockchain video-sharing platform can subscribe to the contract from their favorite content creators with cryptocurrency on the platform.
Zero Charge For Creators
Centralized video-sharing platforms charge a fixed fee from the content creators to stream their content. YouTube charges, on average, $300-$400 for content creators to run their channels on the platform. However, with a decentralized video-sharing platform, content creators have zero charges to showcase their content.
Numerous other advantages of decentralized video-sharing platforms attract budding entrepreneurs to invest in decentralized video-sharing development. Without a doubt, with the increasing popularity of blockchain, NFT and web3, these platforms will advocate users' entertainment in the future.
Our Blockchain Video Sharing Platform Development Process We Follow
Our blockchain developers have mastered the art of blockchain application development. We have created a six-step blockchain video-sharing platform development process that allows us to meet our customers’ requirements without any hassle.
Let’s have a look at how we transform your blockchain-based video-sharing application into reality;
During this development phase, our team connects with clients to discuss the project scope and gather project requirements. Our main goal during this phase is to connect as much information about the project to assist us during the next analysis phase.
Based on the above discussion, we will analyze the client's business requirements and discuss how we will deliver the same to our clients. After discussing the idea's feasibility, our team moves forward to the project planning stages.
During this phase, our team of blockchain developers carefully analyzes project requirements to create a development plan. Our team will find the best possible solutions to meet the client’s decentralized video-sharing platform requirements. We will create a project roadmap and divide the entire development phase into smaller milestones. This allows clients to monitor the project status effectively, and we can deliver the expected results.
Keeping the client’s requirements in mind, our blockchain development team moves forward to turn your business idea into reality. The team keeps track of project milestones to complete projects within the agreed time frame. We deploy the best development tools and methodologies to build best-in-class results.
During this blockchain video-sharing platform development phase, our QA team test the project for any issues or bugs. Issues during this development phase will be forwarded to the development team for resolution. Our team follows this entire process and repeats it until the final product has zero bugs and errors.
To ensure the smooth running of decentralized video-sharing platforms, we provide affordable post-deployment maintenance and support services. Our blockchain experts will monitor your project 24*7 for timely updates and technical issues with the platform.
Reach out to our experts at RisingMax Inc. for the development of your blockchain project. Our team will leverage their expertise to build top-notch solutions no matter how complex your decentralized app development requirements are.
How Much Does It Cost To Build A Decentralized Video-Sharing Platform?
When it comes to decentralized video-sharing app development, it’s hard to share an exact cost as multiple factors are involved. Connect with our experts to discuss your decentralized video-sharing platform requirement. After understanding your project requirements and needs, our team will share the exact development cost of your project.
Factors that determine the cost of a decentralized video-sharing platform;
Blockchain video app type.
Add-on platform features.
Decentralized video-sharing app complexity.
Video sharing platform architecture.
Integrated security features.
Development tech stack.
Location of blockchain technology development company.
Team strength and expertise.
Based on the abovementioned factors, decentralized video-sharing app development companies will charge. Most blockchain development companies in the USA will charge you $50k to $60k for basic decentralized video-sharing applications.
Why Choose RisingMax Inc. For Blockchain Video Sharing Platform Development?
At RisingMax Inc., we have a pool of certified and experienced blockchain developers that can turn your decentralized video app idea into reality. No matter how complex your project idea is, our blockchain developers leverage their expertise to build secure, future-proof, and affordable solutions for our customers.
Here’s what you get with RisingMax Inc;
Unmatched blockchain expertise.
Affordable blockchain app solutions.
Reliable and secure business solutions.
Certified metaverse and blockchain developers.
Transparent pricing policy.
24*7 customer support
The business opportunity in the video-sharing market won’t stay forever. Becoming one of the pioneer decentralized video-sharing platforms will give you an edge over others.