An American content company, Cinedigm has ventured to explore the innovative technology, as it has incorporated blockchain into one of its streaming channels, CONtv Anime. The company has further collaborated with Theta Labs, a decentralized video delivery network in order to integrate Theta’s peer-to-peer streaming technology and providing cryptocurrency rewards to its viewers for watching and sharing the channel’s content. It will stream anime, sci-fi, horror, and cult shows and films directly using Theta’s fully decentralized technology and protocol.
The channel, CONtv Anime will feature the micropayments using one of the two native tokens in the Theta blockchain, Theta Fuel (TFUEL). As per the announcement, the viewers can earn up to $15 in tokens per month, by watching the numerous content on its browser.
With the initiative of integrating Theta’s blockchain-based streaming technology, Cinedigm aims to boost user engagement and monetize the paltform while reducing costs. As Theta Labs claimed that its streaming technology can reduce video delivery costs by at least 50%.
Tony Huidor, General Manager of Digital Networks at Cinedigm said:
We’re thrilled to integrate Theta network peer-to-peer streaming infrastructure to power our 24×7 live channels on CONtv.com, letting our user base experience the benefits of Theta decentralized streaming. We view this as a strategic long-term opportunity, a key differentiator in the industry and we believe it will contribute to sustained viewer growth and engagement in the premium OTT segment.
Welcoming Cinedigm, Mitch Liu, CEO and co-founder of Theta Labs said:
We’re continuing to drive rapid adoption of our patented decentralized video streaming technology in the high-growth digital media and entertainment industry. We welcome Cinedigm to the Theta family to further expand the Theta network reach to millions of consumers worldwide. This along with Theta’s Edge network of over 30,000 global nodes and validator partners including Google, Samsung and Sony will transform and shape the future of digital media.
Wes Levitt, head of strategy at Theta Labs said:
This is Cinedigm’s first publicly announced partnership with a blockchain project, though they recently publicly expressed interest in NFTs for their content library which we see as a very exciting potential collaboration point. Theta Labs initially teased this partnership with Cinedigm in late 2020.