Online video solutions firm Viuly is in the process of initiating the beginning phase of its platform launch as it sends out its native VIU tokens to one million Ethereum wallets.
The platform’s team created a snapshot of the Ethereum blockchain on November 5, and with it they identified Ethereum addresses holding between 0.1 to 3,000 ETH as eligible for their so-called automated “airdrop.”
Airdrops are a marketing strategy that startups sometimes use -- it's basically when a blockchain project decides to distribute free tokens, or coins, to the community in hopes of shining a light on their platform. Since November 12, the Viuly team has distributed tokens at a rate of 20 VIU for every 1 ETH held in these wallets (capped at 60,000 VIU).
VIU tokens also began trading on popular Bitcoin and cryptocurrency trading platform Bit-z on the 19th of November.
The token distribution campaign is expected to be complete by November 21, and expects to have culminated in a complete distribution of 500 million VIU tokens to 1 million unique personal Ethereum wallets. Viuly is hoping that this strategy maximizes its reach to its potential user base and accelerates the adoption of its video sharing platform.
The current industry of online video sharing is a highly centralized one -- whether it be Youtube, Facebook or otherwise -- the space is dominated by large, hierarchal platforms that act as middlemen between advertisers, content creators and users. Through the principle of decentralization, Viuly’s platform hopes to eliminate high commissions from ad revenues and places control of content within the network itself, creating a peer-to-peer video sharing framework.
As a result, content creators could earn more from higher ad revenue and advertisers may get better value by leveraging the platform in order to produce more efficient marketing -- on top of all of this users are rewarded with a share of revenues. Without centralized censorship to restrict content and limit viewing, authors gain creative freedom and users have free access.
Through blockchain innovation, the platform is based on the IPFS protocol, featuring a fully-decentralized distributed network of data storage that compensates individuals for storage. With Viuly, there are no more shared control centers and single points of failure are all but eliminated.
Viuly’s mission is to disrupt the multi-billion dollar industry of online video sharing with its blockchain-based solution. Through decentralization and transparency, it aims to create a fair and open video network operating on an equitable model of revenue sharing.
VIU tokens are the native currency powering the Viuly video platform. They are used to transfer value between advertisers, content creators and users.
Viuly will be a full-fledged platform for users and content creators to share and watch videos, while immediately earning rewards for their interactions. This ecosystem will attempt to enable a fair, unrestricted environment to share, watch, and upload any content.
Visit the Viuly’s Official website: https://viuly.io/
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