Crypto streaming service Esports turns bandwidth into profit

  • Theta is a blockchain project that underpins a peer-to-peer video streaming network that rewards many of its 1 million monthly users in exchange for unused bandwidth.
  • Theta’s market value has reached around $ 6 billion and is in the top 20 for digital tokens.
  • Unlike many other big crypto projects like Bitcoin, Theta is still very centralized.

One of the biggest drawbacks of most cryptocurrencies is that they have few real advantages other than speculation.

For theta digital tokens, blockchain projects support peer-to-peer video streaming networks that reward many of their 1 million monthly users in exchange for unused bandwidth. According to data from CoinMarketCap.com, after increasing over 300% this year, Theta’s market value has reached around $ 6 billion, making it one of the top 20 digital tokens.

Sony and Samsung Electronics are one of the industry giants behind the efforts developed by esports live streaming startups. Investors such as Sony also bet coins. This is the process used to help validate transactions that create new blocks on the blockchain network. In exchange, they receive rewards in the form of secondary tokens called TFuel. TFuel rose in value to around $ 2 billion.

” [Theta] The tokens have grown over 100 times since we invested, ”said Samuel Harrison, Managing Partner of Blockchain.com Ventures. This partner owns shares, owns coins and acts as a transaction verifier. Hundred. It’s about $ 6 now.

Users of the Theta network can not only watch live streams and video game movies such as MGM, but also share bandwidth with others to earn Tfuel tokens.

“Fat viewers can get $ 5-10 a month,” said Mitch Riu, CEO of Thetarabo, in an interview. “It’s important in developing countries, and it pays for half of your Netflix subscription,” he said, the average Theta.tv user watching about 63 minutes a day.

Theta’s audience hasn’t increased, but Liu says she’s been stable for years. “We made the strategic decision not to compete with YouTube,” he said. The co-founder of YouTube and Twitch is one of the company’s advisers.

Instead, the company is expanding the range of services it offers. It is also integrated with NFT, a non-fungible token. These are usually digital arts saved on the blockchain. Singer Katy Perry said this week that she will make her NFT performance available on the network and acquire a private stake in the company. Theta Labs has also launched a decentralized exchange, hoping for a more decentralized financial application (DeFi) that users can borrow, lend, and trade on a peer-to-peer basis.

“Compound and Uniswap can run on Theta without any code changes,” Liu said of two of the most popular DeFi apps launched on rival blockchain Ethereum.

Unlike many other big crypto projects like Bitcoin, Theta is still very centralized. Theta Labs has about half of the top 16 validator nodes that create blocks. However, there are also thousands of so-called Guardian nodes that anyone can configure to check if the transaction was processed correctly and finalize the block. Theta Labs owns 20% of all Theta supplies and private TFuel tokens.

When Liu and his co-founder Jieyi Long founded the company in 2015, it was called Sliver.tv and was to focus on live virtual reality streaming for video game tournaments. With millions of streaming service users in Brazil and Eastern Europe, we have found that streaming videos to these parts of the world is expensive and the quality of the video is poor. As a result, the company switched to using blockchain for video distribution and staged a $ 20 million private token sale in late 2017 for Sliver.tv’s subsidiary, Theta Labs.

Faced with many competitors in the video category, like VideoCoin and Livepeer. Crypto company Tron owns BitTorrent, a popular video file sharing software.

Crypto investor Aaron Brown, a contributor to Bloomberg Opinion, said, “The price basically follows Bitcoin and there are no big ups and downs. Tech news is good, but not overwhelming.

But theta equity investors like venture capital firm DHVC are believers, not speculators.

“It’s not just an incentive or a financial goal, it’s actually about creating a new ecosystem,” DHVC partner Ali Farahanchi said in an interview. “It’s a new way of doing business when you have a streamer that can provide your network with computing time. It’s kind of decentralized streaming. We are just getting started.

Source: News24

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