Now in Open Beta, BitMovio Brings Blockchain, Tipping to Video
Unconventional video service BitMovio has launched in open beta today, and is available through browsers or iOS and Android apps. Stocked with gaming, sci-fi, and fantasy content, the video service aims to blend of Netflix, Twitch, and Patreon. It was created with blockchain technology and lets content creators monetize through a variety of models, including subscription, tips, gifts, and micro-transactions. Creators can offer live streams and interact directly with viewers. The service launched in private beta late in 2018.
At the moment, there isn't much to watch on BitMovio. It has 800 hours of what it calls premium content, but the highlights are little known horror and sci-fi oldies. Much content is user-generated and focused on gaming.
Viewers can pay for content with cryptocurrency and an in-platform currency called MoviBits. The service supports transactions and tips at the moment, and plans to offer channel subscription and a rewards-based advertising model in the coming weeks. It's also planning to create a crowd-funded payment platform built on blockchain.
"We welcome any new creator seeking to expand their reach by showcasing their content to BitMovio’s rapidly growing audience of millennial and Gen Z viewers," says Jerry Kowal, the service's co-founder and chief content officer.
Whether ensuring creators get paid, content stays locked down, or personal data is treated like intellectual property, blockchain offers solutions to some of digital media's biggest challenges, according to a CES panel.