Decentralized content sharing startup Flixxo will begin its token sale in a few days, on October 24th, 2017, at 14:00 CET. Flixxo is going to raise funds to cover further development of its token-powered platform that will try to become the anticipated “decentralized YouTube” and grab a chunk of the giant’s market.
The platform itself is a video sharing network based on a distributed content storage system where the actual videos will be transferred p2p, via BitTorrent, and stored locally on users’ computers to mitigate the costs of hosting services and potential reliability and security issues tied to a centralized storage.
The social side of the system is fueled by a digital token — Flixx (FLX). Users may use FLX to access desired content, reward contributors or pay others for sharing and seeding their content. Apart from receiving FLX as a reward from peers, Flixxo users may opt to earn tokens by viewing ads and sponsored content.
“Use your Flixx to reward the producers you follow, encouraging them to create more awesome content. Or keep your Flixx in your wallet and use them to buy a movie ticket, a pair of shoes from an online retailer, a chest of coins in your favourite game or even convert them to old-fashioned cash or up-and-coming digital assets, like Bitcoin”, — the developers explain.
Any content-centered platform bets its success on the quality of the content in question. In this regard Flixxo tries to balance between freedom from censorship and curated content. The developers consider utilizing community-based moderation and certain rules for content contributors.
“We know there is a thin line between filtering or curating content and censorship, and it is a fact that we have an open network for everyone to upload any content. However, Flixxo as a platform will apply certain filtering based on clear rules – there should be a behavior-code for uploaders in order to offer the right content to the right user”, — Flixxo creators say.
Flixxo team also claims that the platform already has built-in mechanisms that will limit pirated and spam content distribution.
In their recent blog post Flixxo made an important announcement pertaining to project’s new partnerships. Namely, Flixxo has recently partnered with Bancor, a project that hardly needs any introduction. Among project’s other partners PopcornTime, Stremio, AdEx, FAV!Media, CoinFabrik, RSK Labs and Wings are mentioned.
Flixxo token sale is expected to go on for 30 days or until Hard Cap amount (75,000 ETH) is reached. Token price will be fixed at the rate 1 ETH = 4,000 FLX, excluding bonus opportunities. According to the developers, purchases made during the first day will get 30% bonus, purchases made during the rest of week one will get 25%. Subsequently bonus amount will be decreasing by 5% each week, reaching 10% at the end of the campaign.
As much as 50% of issued token will be allotted to motivate new users and prominent content creators to join the platform and form a healthy core community.