Blockchain Based Video Sharing Multimedia development company Viuly is pleased to announce an early investment of EUR 150,000 from crypto investment firm Krypton Capital. The deal comes 2 weeks before Viuly’s pre-ICO on October 10th, strengthening its bid to establish the world’s first decentralized blockchain-based video sharing platform. Taking into account advertising, the online video industry is worth hundreds of billions of dollars, and Viuly is on a mission to become the major decentralized platform in the industry.
Viuly’s goal is to revolutionize the traditional video sharing industry with a first-of-its-kind platform that envisions a fair, unrestricted space for online video while rewarding authors, users and advertisers alike.
Viuly’s mission stems from the current state of affairs in a centralized economy of video sharing, where revenues are unfairly distributed, content is restricted and users are not rewarded. The Viuly platform leverages the benefits of blockchain to overcome these problems through decentralized content distribution, tokenized payments and transparent processes.
Viuly’s mission is to transform the current centralized video sharing economy to reward all network participants. Authors stand to gain much more – up to 65% – of advertising revenue, while users will receive up to 40%. Advertisers will immediately enjoy the benefits of commission-free decentralization.
Blockchain Based Video Sharing
The Viuly platform will be fully decentralized, eliminating single points of failure. Built on the IPFS protocol, it allows a distributed network of data storage without a shared control center. Anyone in the world can offer their extra disk space for video storage in return for VIU tokens.
Censorship will be made obsolete on the Viuly platform. All users can access all content freely without restrictions and filters. The native system of pre-moderation relies on users themselves to determine if content adheres to a common set of ethical standards. Randomly selected moderators (users with the highest user-assigned ratings) will be alerted when the system flags content as potential violations. If the moderators confirm the violation, the content is deleted and its author’s rating downgraded.
However, the Viuly platform will still adhere to DMCA copyright requests.
The main tool for transferring value between the network is the VIU token, issued on the Ethereum blockchain. Whether it is rewards for users watching video, or payment for premium content by authors, VIU tokens feature full transparency and anonymity.
VIU’s growth prospects are predicted to be directly associated to its userbase growth, influencing demand and turnover. VIU tokens will never be reissued after the crowdsale.
Viuly’s unique solution of the future for today’s online video industry has already attracted backing from Ukraine-based blockchain investment firm Krypton Capital, who have invested EUR 150,000 in Viuly development. The deal reflects well on Viuly’s vision, as Krypton Capital’s “smart money” philosophy aims to establish strong ecosystems of related companies to grow values and revenues together.
Viuly will launch a pre-ICO on October 10th 2017 to raise further funds to develop the world’s first decentralized video sharing platform. Following this, a public ICO will run from November 1st to 15th. A maximum of 550 million VIU tokens are up for offer at a base rate of 1 ETH = 2,000 VIU.
Viuly benefits from the vast experience of its founding team, with specialists in corporate management, blockchain business, marketing development, promotional strategy and project development. It also relies on support from an established financial technology advisory.
Ruslan Popa, Founder and CEO
Ruslan Popa has more than 12 years of experience creating and managing IT start-ups. He has served as CEO of several payment service providers, including the likes of RuPay, Qiwi and Rompay Solutions. Popa has an excellent track record of producing quick results and high financial performance in the companies he managed.
Silviya Martirosyan, CMO
Silviya Martirosyan built her reputation as a strong and creative leader, launching and promoting some 30 projects in retail, corporate and financial sectors both at federal and regional levels. Martirosyan comes with six years of experience directly managing a team of nine sector experts. With her background in business administration and strategic management, she brings strong communication skills and solid marketing acumen to Viuly.
Aleksey Vasyanin, CDO
Aleksey Vasyanin spent more than a decade helping companies to create and structure their corporate profiles. As a project management expert, he helped create, structure and develop partner networks in a highly competitive telecom market. Skilled in e-commerce solutions, VAS services, financial planning and content production, Vasyanin also excelled at optimising business processes and personnel management.
Yuriy Chayka, Advisor
Yury Chayka delves into his rich experience as an entrepreneur and investor to help develop Viuly’s vision. He is President of the Ukrainian E-business Association, ideologist and founder of Fintech Cluster. He is also the founder of Ukraine’s first mobile wallet, MobiPay and co-founder and partner of fintech solutions provider Finovate Studio. He founded a slew of payment systems including RBKMoney, Autopay, Interkassa, MoneXy and mWallet.
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