Viewly, a decentralized video platform based in Slovenia, announced Friday a token sale that will take place between Feb 20 and March 22. Viewly states that its social video platform aims to replace ad-based revenue models with a peer-to-peer network and smart-contract-based transactions on the blockchain.
The sale will offer 30 percent of /VIEW, an ERC20 token, at a hard cap of USD 12 million, which would value the project at USD 40 million. The crowdsale follows a seed sale of 10 percent of the tokens, held in October 2017. If the hard cap is hit, Viewly’s raise will come in just shy of the USD 15 million median for January initial coin offerings, according to Token Report data.
The Viewly project uses smart contracts and a peer-to-peer network to help video creators monetize content. The platform lets fans pay creators /VIEW via micro-payments, sponsorships, memberships, premium content buys and more. The blockchain application lets sponsors and creators agree to smart contracts pertaining to pricing and deliverables and then transact instant, trustless payments, according to the company’s statement.
In addition, Viewly believes that its bounties will incentivize users to participate in the peer-to-peer content delivery network. Users with extra storage and bandwidth will be able to run Viewly nodes that host and stream videos, and collect /VIEW tokens.
According to the company’s director, Stefan Furland, the goal is to replace the content monetization model associated with traditional video platforms, like YouTube, with a personal patronage one. “Ad-based video platforms are fundamentally flawed for both creators and their audiences,” he said, in a statement. “Only creators with large audiences can make a living off their efforts, and even then, they must give up nearly half their ad revenue. We are opening up opportunities for creators who have small, loyal audiences that don’t work within the current ad-based model. Viewly allows them to build a profitable channel without having to build an entire business.”
As of Feb 1, Viewly’s presale for large and strategic contributors is offering a bonus of up to 25 percent for a minimum of 100 ETH. (The sale will accept /ETH, /BTC, or /EOS.) In addition, buyers who whitelist Viewly before Feb 20, with a minimum participation of 5 ETH, will receive a bonus of 5 percent.
To learn more about Viewly, visit https://view.ly/