Creator's Portal (to add/upload content)
Consumer Content Platform (to watch/explore content)
Market Place (to swap/trade content-NFTs)

CryptoWood

Chainlink Hackathon Entry: https://devpost.com/software/cryptwood

What's CryptoWood?

CryptoWood is an NFT based streaming service where creators can upload their content and create tokens to access them. Users can buy these token and watch the particular content. The token can later also be sold by the user in the market place.

What's the difference between CryptoWood and other streaming services?

The token purchased by the user also has a buy back value depending on the popularity of the content. It is unlike other streaming services where we just pay to watch the content. CryptoWood uses blockchain and Chainlink, the pivotal data is base on smart contracts, which is safe and won't be interfered by any third party.

What's the main advantage of CryptoWood?

With the buy back value of the access token, the user is more likely to watch content here than on any other streaming platform. The token value is dynamic and will depend on the ppularity of the content. Lets say in the rare cases where the show gets very popular and has limited access tokens, the user can even sell the token for more value than he has bought it for. There is also a concept of burning a fixed number of old tokens to generate tokens for new shows.

Inspiration

It was inspired by the fact that tokens can be used to access content and have dynamic pricing based on the content's popularity. SquidGame was sold to Netflix for approx $30mn while Netflix has earned more than $900mn from it.

What it does

It provides an NFT based streaming service to upload/watch content and a market place for buy and sell of their access tokens. It is a streaming platform that facilitates True Price Discovery.

E.g. Taking the difference in actual value and sold value of SquidGame, clearly creators need a mechanism to allow “True Price Discovery”. At CyptoWood, the creator will release access to its content in a phased manner allowing for Demand to drive prices for high-quality content and hence add to the earnings of the creator. The creators will also earn royalty from the resale of the tokens. It is a lifetime earning.

For consumers, it is a streaming platform that allows Watch and Earn. Now even consuming content can become a source of income. Users who are able to discover high-quality content in its infancy can buy-and-hold that NFT and later sell it as prices increase when demand picks up. In some sense, they will not only be able to invest in the creator but also the content itself. As the content grows in demand (since there is a fixed amount of access tokens available) they can sell it for a higher price in the marketplace