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Are Movies And Streaming The Next Frontier For NFTs?

What is VideoCoin

A smart contract enables multiple scripts to engage with each other using clearly defined rules, to execute on tasks which can become a coded form of a contract. They have revolutionized the digital asset space because they have enabled decentralized exchanges, decentralized finance, ICOs, IDOs and much more. A huge proportion of the value created and stored in cryptocurrency is enabled by smart contracts.

APR 13 NFT Evening

VIVID creates NFTs from any type of media, including JPEGS, video, audio and more. Its advanced decentralized video processing infrastructure handles the complex tasks of video encoding and transcoding, and cost-effectively processes video of any length and format – from TikTok videos to feature-length movies. Halsey Minor, who previously founded CNET and Salesforce, is now heading up VideoCoin, a project aiming to remove the limits for video NFTs. VideoCoin has https://www.tokenexus.com/ teamed up with decentralized storage service Filecoin to crack the storage problem. The aggregated storage capacity of the entire Filecoin network already exceeds over 2.5 billion gigabytes – enough to store 725 million 1080p high-resolution movie files. The advent of smart money and the blockchain allow all of these resources to be identified, tested, and compensated to create a much less costly way to deal with what has become 80% of Internet bandwidth, video.

VideoCoin Token Sale

The same applications could be created in the cloud, each built for and used by many companies at the same time. It was far cheaper and less complex and the cloud quickly swallowed company servers and centralized all of the complexity using new cloud application providers. The VideoCoin token is an important part of the ecosystem and is its native protocol token. Storage miners can earn VideoCoin tokens by storing videos, and they receive better rewards by pledging more storage.

What is VideoCoin

Natural Selection Tour x Vivid Labs:Trailblazing NFT experience for action sports

Vivid Labs sees NFTs as going well beyond today’s notion of mere digital collectibles, where 1 NFT equals 1 asset. We reimagine NFTs as storytelling media, capable of weaving multiple elements into a compelling and ongoing narrative over time. VideoCoin isn’t the only project to enter the market with a blockchain-based video platform. Theta has attracted investment from Samsung and Sony to develop its peer-to-peer video distribution network. Theta is building its own network of storage and distribution and will accommodate the number of nodes to host all the video content on its network.

  • Our editorial team does not receive direct compensation from advertisers.
  • Once the world understands what we have here, we believe the next generation of anything-you-want-to-do-with-video will be built on the VideoCoin Network.
  • So large that they need to be compressed, encoded, stored in bits, delivered in bits, decompressed, reassembled, and finally burnished back to that highest quality.
  • Proof of ownership uses an encryption key with cross-platform compatibility, meaning that the NFT keeps its market value independently of what happens to the issuer.
  • For example, “every minute of every day, 10,000 more dogecoin are issued. That equates to nearly 15 million doge per day or over 5 billion doge per year,” she says.
  • Coinbase’s regulation troubles have continued into this year, with the SEC blocking a new lending product Coinbase planned to release in September 2021.

What is VideoCoin

Written by Vivid Labs Team

What is VideoCoin

Beginner’s Guide to VideoCoin: System for Storage, Distribution & Encoding Video Content

  • Bitcoin was the first cryptocurrency introduced to the public and was intended to be used as a form of payment outside of legal tender.
  • Without the advent of cryptocurrency, it is impossible to pay people for doing something.
  • Client-server computing was born and the age of decentralized computing began anew.
  • VIVID is a next-generation NFT publishing platform that allows anyone to create, manage, and sell advanced NFTs.
  • They can be used as art, a way to share QR codes, ticketing and many more things.

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