So last month I covered an interesting project called, TriForce Tokens, a cryptocurrency project which, intends to create an umbrella currency for all gaming platforms using blockchain technology. This was the first introduction I got to blockchain being used for a gaming purpose, and it fascinated me, so I decided to research up other projects using blockchain for gaming. Here I came across a project just as interesting – Play2Live.
Traditionally, on current streaming platforms, viewers can only really engage with a stream via a chat system and if they do enjoy their experience, viewers are encouraged to donate money to streamers if they appreciate the content and that’s where the viewers engagement sort of ends.Streamers, on the other hand, receive the donations, monetize their content via advertisements or offer exclusive benefits to the stream via subscriptions.
Play2Live dreams of reshaping model this model, by creating a new streaming platform that allows viewers to earn money, streamers to monetize their content in more creative ways and event organisers to crowdfund e-sports tournaments all under one currency – Level Up Coin, or LUC. Here’s how the project is set to work:
So, instead of being hindered to only watching a stream, donating money or engaging via chat, Play2live intends on giving 5 ways for viewers to generate their own cash. Watching adverts (the platform is ad-free by default), performing tasks set by streamers, voting for content, and sharing their internet bandwidth via peer-to-peer CDN –
On the other side, Play2Live looks at giving streamers 11 ways to earn money, this is mostly enabled by greater functionality from the users. Completing tasks set by viewers (eg. a viewers vote on a task for the streamer to complete, if the task is completed the streamer ears), selling a game via a stream (eg. playing a game, if viewers enjoy the game and the streamer sells they make cash), duels between streamers, and advertisements.
Those interested in hosting esports events can use the technology to crowdfund esports events which integrates the users, giving them a certain degree of autonomy over the event’s productions.
Why I find this project interesting.
The new functionality the team is proposing makes the entire streaming process sound far more entertaining than watching another personality just play games Imagine a sponsored RPG stream where you can complete tasks set out by a streamer to earn tokens to level up say your desired factions equipment, or users who bet on the right streamer gain free copies of the game they are playing. The possibilities seem exciting, and because you’ll actually be earning real cash, the incentive to actually engage with them is far higher than with any other platform.
I find this a great approach to the streaming system – people watching streams are gamers, so why not turn streaming into a game of its own?
Something that I also found quite enticing is the fact that adverts are disabled by default – streamers and viewers can agree to enable adverts, which will allow both parties to earn something out of it. Nobody likes watching adverts, so surely we should get something out of it?
What’s more, there isn’t a minimum withdrawal limit – this is quite a frustrating mechanic many monetized websites use whereby you can only withdraw cash. So as soon as you start earning, you can pull your cash out at any time.
I think merging gaming with blockchain technology is one of the most exciting progressions in cryptocurrency mainly because developers, server hosters and gamers alike constantly need growing computational power to play games and access media which provides gaming news or broadcasts. Play2Live’s vision is there and makes sense from all angles. Gamers have computational power, so why not give them a chance to earn cash by using that power? Gamers are gamers so why not turn streaming into gaming?
Statistically, Play2Live has already raised over $18 million in funding, so it seems that there are thousands of others who agree with what the team is proposing. Follow the project one Facebook, here or check out their website, here.
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