StreamSpace, a Texas-based blockchain start-up, is all set to revolutionize the film industry by eliminating the existing distribution channels between filmmakers and their customers. Utilizing decentralized storage systems and blockchain, StreamSpace has created a secure platform where filmmakers can set a price for their work and receive payments directly from the customers.
StreamSpace has just announced the start of their Initial Coin Offering. This token sale will continue till February 27, offering a total of 250 million StreamShares (SSH).
StreamSpace is a secure platform for video distribution that has been created with the goal of disrupting the present-day idea of video content distribution by eliminating the middlemen. It will empower independent filmmakers to retain financial control over their film projects while enabling consumers to receive quality film content directly from the creators.
A few global distribution giants have ruled the roost in the global movie industry for many years. Surprisingly, about 80% of the films produced each year are never seen because they fail to secure the necessary distribution support from a major studio. Filmmakers are often left with no alternative but to rely on film festivals and similar channels. This has led to a situation where consumers face an erosion of choice as they mostly have access to major blockbuster releases promoted heavily by the studios. Independent filmmakers are left without adequate multichannel distribution relationships and a paucity of income.
StreamSpace is currently in the process of building a novel distribution platform and an ecosystem that will create links between filmmakers and their fans, revolutionizing the film industry in much the same way the music industry has changed over the past decade or so. The filmmakers will be able to set a price for their content and receive payments immediately from consumers. The system’s secure monetization engine will place more than 90% of payments directly into the hands of the filmmakers.
StreamSpace can also help filmmakers use crowdfunding techniques like ICOs, a powerful new tool that is more effective than conventional crowdfunding services. To ensure secure storage and transmission of files, StreamSpace will utilize encryption and blockchain technologies. Moreover, consumers will finally have direct access to quality film content from the independent creators.
“Today, as video relies on high infrastructural costs on bandwidth and storage, only three companies can afford to deploy a global platform, and they have monopolized the market, creating an environment in which authors are not monetizing, users only reach low-quality content, and advertisers cannot reach their audiences,” says Robert Binning, the CEO of StreamSpace. “Our goal is to become the world’s leading destination for innovative film content, with a deep catalog that will enable personalized viewing experiences and that will be rewarding for our two core customers, independent filmmakers, and indie film aficionados.”
StreamSpace has been built around nine key components:
- Secure storage method
- Blockchain transaction ledger
- Front-end decoder and embedded HTML5 player
- Content recommendation engine
- Secure digital wallet
- Private token exchange
- Community-focused front end
- Social media channels
- Initial Coin Offering / Token crowdfunding campaigns
StreamSpace operations are based on digital wallets and smart contracts through the Ethereum Virtual Machine capable of executing smart contracts on the Ethereum chain. All transactions on StreamSpace’s platform will take place using StreamShares (SSH) tokens. Film enthusiasts can watch a film by adding money to their digital wallet and initiating a token transfer to the wallet of the copyright owner. After receiving the tokens, the copyright owner can convert them to fiat currencies and withdraw.
StreamSpace has circulated only a limited number of StreamShares in the market, and these tokens can be purchased with Ethereum or Bitcoin. Since the start of the StreamSpace ICO, the price of StreamShares has increased on a daily basis, and will soon reach the maximum price of $0.30.
StreamSpace is a blockchain powered streaming video on demand service that looks to revolutionize the film industry by eliminating the existing distribution channels between the filmmakers and their customers. Making use of cutting-edge decentralized storage systems and blockchain technology, they have built a secure platform where independent filmmakers can exercise complete financial control over their creations and consumers have access to quality film content directly from the creators.
