Is Blockchain-Based Watch-to-Earn Monetization the Future of Video Streaming?

What Is Happening?

Coub.com, a micro-video streaming social network, has launched its blockchain-based 'Watch-to-Earn' content monetizing mechanism. Web Similar Analytics, reported that more than 30 million users used Coub.com. The company is entering the Web3 area with the introduction of the Watch-to-Earn model, giving its users the opportunity to get real rewards for each activity that is represented in the content they contribute. When micro-videos are launched in NFT format for purchase and resale on the native platform marketplace, users are going to earn rewards for their likes, comments, reposts, and shares.

What is Coub.com?

Coub is a video-sharing website that is accessible on both iOS and Android devices. By utilizing pre-existing videos from YouTube, Vimeo, or their own files, users may make and distribute looping films up to 10 seconds long. The company was founded in 2012 by brothers Anton and Igor Gladkoborodov and is situated in New York City, USA.

On Coub, users can take any video, trim the best part, combine it with other videos, and add soundtracks. The site claims to have introduced short videos before TikTok appeared and it is now undergoing a Web3 redesign. Coub describes its video approach as a “creative and compelling multimedia format that crams as much material and depth as possible into a minute-long clip.”

How is Coub’s Web3 Video Space Going to Work?

In order to preserve the intrinsic fluidity of the user experience, Coub is trying to ensure the transition to Web3 is as seamless as possible. To further integrate the platform into the Web3 space, the new version of Coub.com is going to feature a native non-custodial Coub Wallet directly tethered to the native NFT Marketplace, allowing users instant access to monetization tools and the ability to profit from the sale and royalties of content they generate.

In an effort to decentralize the platform, the Coub.com team plans to implement CoubDAO. CoubDAO will empower its users by granting them voting rights on proposed platform improvements and development vectors. All interactions on the platform will be supported by vCOUB governance tokens, which are given for platform engagement, and COUB utility tokens, which may be used for trading NFTs and unlocking new W2E chances.

Coub.com is collaborating with renowned blockchain auditing companies to ensure platform security and is combining an on/off-chain legal system with a ContentID engine for equitable monitoring of royalties and usage of lawful library music snippets. Throughout the rest of 2022, the platform will expand its roster of modules, giving early adopters access to a number of special features and advantages.

Registering to the platform is simple, and several fun options exist for more active users. Viewers and creators will increase their benefits by watching more coubs, gaining accomplishments, and accumulating customized statuses as they go through the levels. The community is occupied with various activities from daily challenges and treasure hunts for "hidden gems" to cutting-edge competitions.

How is this Web3 Video Platform going to help Users?

The decentralized platform is going to encourage users of Coub.com to continue and strengthen their creative efforts, transforming them from passive content producers to genuine stakeholders of the social network and the artworks they publish.

After Covid, now more and more people, especially members of Generation Z, utilize the internet and place a premium on rapid, non-verbal communication. Therefore the Web3 launch of Coub NFts is more relevant.

Final Thoughts on Web3 Video platforms?

The primary goal of Web3 is the true democratization of each and every aspect of life. Entertainment is an important part of human civilization. Given how today's internet users, notably Generation Z, are fond of short videos and memes, providing users complete say over the platform's trajectory and every decision made, from the kinds of material that may be shared to how points are awarded within the ecosystem is very important and going to help in the mass adoption of web3.

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Image credits: Domenico Loia, Christopher Gower and Radek Grzybowski.