VideoChain

We are engaged in the tokenization of real-world assets, including music and video blogs, through blockchain, and facilitating content monetization for creators via smart contracts.

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Inspiration

Despite the Internet being the biggest ever distribution platform, creators in the music and media industry do not earn their due revenues by distributing their content over the Internet. Instead, they end up giving up their content for free. Creators on Youtube, Tiktok, Instagram and Facebook depend on advertisement revenue. Netflix and its competitors use a monthly subscription which is not directly proportional to the usage of any particular creator's video. Many others use pay-per-view models where the consumer goes through a number of steps to make the payment.

What it does

We are providing the creators a path to monetization of content.

How we built it

We propose tokenization of music and other content into NFTs and the usage of smart contracts wherein a smart contract gets executed whenever a user consumes the content. The payment is transferred from the user's wallet to the creator by the execution of this smart contract which requires Blockchain.

Challenges we ran into

We did not have sufficient manpower or budget to add all services we want to provide.

Accomplishments that we're proud of

We have proved our capability to work on blockchain and implement the necessary smart contracts.

What we learned

We have come across the right blockchain with low gas fees and low transaction times to implement our platform.

What's next for VideoChain

We plan to take this project to the next level by improving the front-end and taking it to real customers.

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