Cinedigm, a large American content distribution company, is applying blockchain technology to one of its streaming channels.
The company has partnered with the decentralized video delivery network Theta Labs to incorporate Theta’s peer-to-peer streaming technology and cryptocurrency rewards into its CONtv anime channel, which airs a wide range of anime series and films.
CONtv Anime offers micro payments in Theta Fuel (TFUEL), one of the two native tokens on the Theta blockchain. The token is used as a reward for sharing video content by using excess bandwidth and computing resources and viewing the channel’s content. According to the announcement, fans can earn up to $ 15 in tokens per month by simply viewing content on their browser.
By integrating Theta’s blockchain-based streaming technology, Cinedigm aims to increase user engagement and monetization while reducing costs. According to Theta Labs, streaming technology can reduce video delivery costs by at least 50%.
Tony Huidor, senior vice president of products and technology at Cinedigm, said the company sees partnering with Theta as a long-term opportunity. It’s a “key differentiator in the industry and we believe it will help drive sustained growth and engagement of viewers in the premium OTT segment,” said Huidor.
Wes Levitt, Head of Strategy at Theta Labs, said: “With this first implementation, CONtv users will receive TFUEL rewards for micropayments when they view the content and share it with other CONtv users. In future integrations, rewards could be used to unlock other content or unique experiences for token holders. “
“This is Cinedigm’s first publicly announced partnership with a blockchain project, although they recently publicly expressed an interest in NFTs for their content library, which we see as a very exciting potential collaboration point,” added Levitt. Theta Labs initially spiced up this partnership with Cinedigm at the end of 2020.
Earlier this year, Theta Labs enabled similar TFUEL micropayment features for projects such as the World Poker Tour live poker entertainment platform and the Shout! Entertainment distribution platform. Factory.
As previously reported by Cointelegraph, the theta network has recently accelerated and attracted collaboration from Fortune Global 500 companies such as Google, Samsung and Sony. Amid network growth, Theta Networks Token THETA hit new highs in 2021 and hit the top 10 cryptocurrencies by market capitalization in March.
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