BitcoinChaser: What kind of problem, market deficiency or opportunity inspired you to launch your project?
Viuly: At its most basic level, VIULY is a video sharing platform based on the blockchain. The main idea behind VIULY is to provide a way for a video sharing network to directly benefit and share rewards between themselves. Because it’s decentralized, there won’t be any central control mechanism so you get a censorship free platform.
I thought a great deal about this idea when I saw the unfair nature of the current industry – how our competitors run their platforms, without sharing rewards fairly and controlling so many aspects.
I felt that authors should be able to sell access to premium content, receive donations and earn more from in-video ads. Users should earn rewards for watching free videos. Advertisers should be able to choose where to place ads and be allowed to pay directly to users.
I believed that a decentralized platform would result in more equitable distribution of advertising revenues among content creators and users. No more middlemen!
A tokenized rewards and payment system, like VIULY’s VIU tokens, would allow automatic payments on the platform, storing every transaction forever on the blockchain. VIU tokens would be based on the Ethereum blockchain, executed by smart contracts. VIU tokens, therefore, would represent the main tool for transferring value between advertisers, content creators and users.
So that’s the whole idea! I hope to bring the VIULY network together to enter this huge, multi-billion dollar video sharing market and completely change the game.
BC: How will your project address this problem, market deficiency or opportunity in a unique way?
Viuly: Blockchain tech certainly opens up a lot of possibilities to improve efficiency in the video sharing industry due to its inherent characteristics. These include decentralized distribution, transparency, immutability and security.
With smart contracts executing all payments and related processes automatically, there is no need for 3rd party interference to delay processes. Everything is automated and transparent to everyone on the blockchain. Settlements and transactions are quicker and more efficient on the blockchain: no more waiting for payments and no more ambiguity about how much you will get.
Another efficiency is how the network is in full control. The platform rewards the entire network (as described above) but, more importantly, it does this while eliminating middlemen and their ability to restrict. Decentralization negates the need for 3rd parties, putting control of the network in the hands of the network. This results in a system that is free: no censorship and access restriction. This will minimize user frustration in censorship and restricted access because the network decides quickly which content is allowed and which content they want to access.
BC: How do you think that competition will develop in this segment of the market following your ICO?
Viuly: It’s exciting because it promises to change the industry on so many levels! There have been many players who’ve tried to introduce changes and innovations to the scene. But I honestly believe that VIULY is really here to revolutionize the entire video sharing experience, to take the experience and rewards structure to a new, different level. I believe that VIULY offers a strategic advantage over our competitors; one that will take us into the future of video sharing.
We hope to do this by focusing on three basic solutions that most of our competitors have simply ignored and believe that these benefits will appeal to ICO participants!
- BENEFITS ARE SHARED – WE ALL GAIN A PART OF THE BENEFITS WITHIN THE NETWORK
- THE SYSTEM IS FAIR – DECENTRALIZATION MEANS THAT CONTROL IS WITHIN THE NETWORK AND IS AUTOMATIC
- A TRUE MARKETING TOOL
BC: For all those who have read your white paper and are still on the fence about contributing to your ICO, what can you tell them that could lead them to buy into your project?
Viuly: I would like to say that it is important to focus on the key objectives of the project, the platform’s vision and potential benefits. I appreciate that the whitepaper could do with better – needless to say, any attempt at summarizing an idea that continues to develop and evolve will always have room for improvement.
But I believe it’s still early days and everything is a work in progress, so we always endeavour to better things in every possible way and greatly appreciate all the input and advice from our community.
Our aim is a network that allows people to do what they love doing and earn from what they love doing. Besides the obvious additional benefits, including additional or stand-alone income, VIULY hopes to foster innovation within the network and industry.
I believe this vision will be VIULY’s main catalyst and this is what we must keep our eyes firmly on.
Viuly ICO Information
|Pre-ICO Start Date||October 10, 4pm GMT|
|Pre-ICO End Date||October 13, 4pm GMT|
|Public ICO Start Date||November 1, 4pm GMT|
|Public ICO End Date||November 15, 4pm GMT|
|Token Price||1 ETH = 2000 VIU|
|ICO Token Supply||550 million|