Cinedigm, a large US content distribution company, uses blockchain technology on one of its broadcast channels.
The company has partnered with the decentralized video delivery network Theta Labs to integrate peer-to-peer theta streaming technology and cryptocurrency rewards on the CONtv Anime channel, which broadcasts a variety of anime series and movies.
CONtv Anime will include micropayments in Theta Fuel (TFUEL), which is one of two tokens on Theta blockchain. The token will be used as a reward for sharing video content with extra bandwidth and computing resources, as well as for displaying channel content. According to the advertisement, fans will be able to earn up to $ 15 in tokens per month simply by viewing the content in their browser.
Using flow technology based on theta blockchain, Cinedigm aims to increase user engagement and generate revenue while reducing costs. Theta Labs said its live broadcast technology can reduce video delivery costs by at least 50%.
Cinedigm Senior Vice President of Product and Technology Tony Haidor said the company sees the partnership with Theta as a long-term opportunity. It is “a major factor in the industry and we believe it will drive sustainable viewing growth and engagement in the premium OTT segment,” Hudor said.
“In this first app, CONtv users will earn rewards in the form of small payments to TFUEL for viewing and sharing content with other CONtv users. Future integrations may have rewards that are used to unlock other content or unique experiences for token owners,” said Wes-Levitt, Director of Strategy at Theta Labs.
“This is Cinedigm’s first announced partnership with the blockchain project, although they have recently shown an interest in NFT for their content library, which we consider to be a very exciting potential for collaboration,” Levitt added. Theta Labs initially teased its partnership with Cinedigm in late 2020.
Earlier this year, Theta Labs activated similar TFUEL micropayment features for projects like the World Poker Tour entertainment platform and Shout! Factory.
As previously mentioned by Cointelegraph, Theta network has experienced some rapid development in recent times, attracting partnerships from Fortune Global 500 companies such as Google, Samsung, and Sony. Amidst network growth, Theta Networks’ THETA token reached full new employment in 2021, entering the 10 largest cryptocurrencies by market value in March.