Cinedigm, a serious American content material distribution firm, is making use of blockchain technology to considered one of its streaming channels.
The firm has partnered with decentralized video supply community Theta Labs to combine Theta’s peer-to-peer streaming technology and cryptocurrency rewards into its CONtv Anime channel airing a variety of anime collection and flicks.
CONtv Anime will characteristic micropayments in Theta Fuel (TFUEL), one of many two native tokens on the Theta blockchain. The token will probably be used as a reward for sharing video content material by using extra bandwidth and computing assets in addition to watching the channel’s content material. According to the announcement, followers will have the ability to earn as much as $15 in tokens monthly just by watching content material on their browser.
By incorporating Theta’s blockchain-based streaming technology, Cinedigm intends to spice up consumer engagement and monetization whereas lowering prices. Theta Labs mentioned that its streaming technology can decrease video supply prices by not less than 50%.
Cinedigm’s senior vp of merchandise and technology, Tony Huidor, mentioned that the corporate views the partnership with Theta as a long-term alternative. It’s a “key differentiator in the industry and we believe it will contribute to sustained viewer growth and engagement in the premium OTT segment,” Huidor mentioned.
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Wes Levitt, head of technique at Theta Labs, mentioned, “In this first implementation, CONtv users will earn TFUEL micropayment rewards for watching the content and relaying it to other CONtv users. Future integrations could see rewards used to unlock other content or unique experiences for token holders.”
“This is Cinedigm’s first publicly announced partnership with a blockchain project, though they recently publicly expressed interest in NFTs for their content library which we see as a very exciting potential collaboration point,” Levitt added. Theta Labs initially teased this partnership with Cinedigm in late 2020.
As beforehand reported by Cointelegraph, the Theta community has seen some accelerated growth just lately, attracting collaboration from Fortune Global 500 firms like Google, Samsung and Sony. Amid the community progress, Theta Network’s token THETA hit new all-time highs in 2021, entering the top 10 cryptocurrencies by market capitalization in March.