Quick take:
- Replay is teaming up with Theta Network to launch an NFT-gaming solution for video streaming.
- The web3 video streaming company wants to give video content creators and producers a chance to lock their content behind an NFT wall.
- The solution will be powered by Theta Network, a layer 1 blockchain network focused on the media industry.
Replay has partnered with Theta Network to launch an NFT-gated solution for video content creators. The web3 video streaming company has developed video capabilities that allow creators to lock their video content behind an NFT wall.
The new solution will be powered by Theta Network, the layer 1 blockchain network focused on media content.
According to the announcement on Tuesday, Replay’s solution can now be used by streaming services, FAST channel owners and media brands to lock video behind an NFT experience compatible with any smart TV or device.
Content creators can choose to use the tool however they wish including locking their entire video library behind an NFT collection, or offering specified live streams to community members who hold a particular NFT, among other options.
Replay can be easily adopted by content providers to monetise, distribute and syndicate their videos. Leading video apps on smart TVs, mobile and the web can use the platform to issue NFTs that grant holders access to their content.
Last November, the company debuted its product in partnership with streaming provider FlixFling, introducing real-time NFT-gated access for their subscription library as a bundled purchase.
Krish Arvapally, CEO of Replay lauded the company’s flexible NFT model as an innovative way of connecting video creators with their fans.
“Whether you’re a niche streaming service offering paid access to large libraries or an influencer or streamer offering bonus content to your ‘patrons’, we’re continuing to see video owners turn to digital collectibles as they look to give their audience more access and more stake in their community,” added Arvapally.
Video content locking on Replay is powered by Theta Network’s authentication and peer-to-peer content delivery mechanism. In Addition, Replay also runs a tracking protocol on a Theta Network sub-chain, which allows video owners to monitor content engagement almost in real time.
Mitch Liu, CEO of Theta Labs hailed Replay’s video content-locking solution as a perfect match for “Theta Network’s purpose-built video infrastructure.”
“Through this partnership, we can empower video apps and streaming services to easily integrate decentralized token-gated video, allowing them to curate and package content in innovative ways while increasing monetization and engagement. We are excited to be at the forefront of bringing web3 disruption to the video industry, and we look forward to continuing to work together to push the boundaries of what’s possible,” said Liu.
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