YOUTUBE has come under threat from their Blockchain rivals, as the latter aim to pay content creators 4 to 5 times more.
The blockchain is used in all areas of data sharing, one area that is now becoming more prominent is the content creation and video platform space.
That could spell bad news for video platform giant, Youtube, as a large group of upcoming blockchain video platforms is on the path to steal many of the site’s users and content creators.
One of the more popular sites, POPchest will be relaunching this month. They state that their platform “hopes to empower creators with more opportunities to gain distribution, viewers, and earn just compensation.”
This comes at a time when recent Youtube controversies such as the demonetization of large amounts of content may potentially alienate some of their creators and their subscribers.
Blockchain startup, Lino has just finished a $20 million funding round and plans to launch by the end of this year.
In an interview with TechCrunch, Lino chief executive Wilson Wei predicted content creators would earn “three to five times” the profits they currently make on YouTube or Twitch.
It is one thing to promise or speculate about how much creators will make – a bit like how everyone knows when Bitcoin will go up to the exact hour – but will they predictions come true? Or is this just another overvalued promise to entice creators to take the leap of faith and join their platform?
If this is the case, this would stir up trouble in Youtube HQ as content creators and take their loyal subscribers along with them.
The way it works is that fans of creators will have to buy individual coins, and then distribute them to their creators after watching, making viewing less of a passive activity.
We don’t know just yet where this will go; the signs are pointing to these companies becoming a massive success, only time will tell.