Blockchain Platform Dubtoken Aims To Monetize Videobr>
Content creators and publishers of video content have a new service to consider. Dubtokens is a blockchain-based platform that aims to help monetize video while cracking down on ad fraud, all while providing users greater personalization and other features.
The platform was conceived by video collaboration platform dubdub and the IVEP Association, a non-profit organization that promotes video and interactive experience technologies for the decentralized web through a copyright framework for content creators and distributors.
The company will hold an initial coin offering (ICO) pre-sale soon, with one billion tokens offered in a hard-cap sale hoping to raise $38 million.
Fred Dionne, founder and CEO of dubdub and the IVEP Association, talked with Block Tribune about the plans.
BLOCK TRIBUNE: Tell me how your system works. What happens next from a viewer standpoint and a publisher standpoint.
FRED DIONNE: IVEP is building the foundation and software infrastructure for online video interactivity and real human engagement with programmable Smart Objects. It is a Web 3.0 (d)open-source protocol that integrates the immutability and transparency characteristics of the blockchain and loyalty and trust attributes of a tokenized economy.
So, a bit like stripe enabled ecommerce to a website with a few lines of code, we are adding interactivity on any video available on the open web in a matter of minutes – the only limit being your imagination. It is a turnkey solution for all content creators and online publishers. It is completely transparent for the audience.
IVEP is a lightweight, platform agnostic solution. The video can be embedded from YouTube, Vimeo or Facebook for instance. The protocol is fully customizable and interactions can be changed in real-time based on user preferences or with the help of AI. So with IVEP, billions of hours of video content can now be monetized without pre-roll ads (which are terrible in terms of UX).
We are also building a decentralized apps store on which developers and designers will be able to create interactive smart objects and data management apps and templates for publishers, content creators and advertisers. Our system will also improve the copyright protection by tracking the source of content and the types of objects being used, and automate the sharing of royalties and immutable real human engagement metrics in real-time. Because we do differentiate between bot and human traffic based on engagement behavior and other factors.
BLOCK TRIBUNE: YouTube restricts a lot of content that it deems offensive. Do you make any decisions on what you will support?
FRED DIONNE: No. That is up to the publishers and their advertisers to decide. We offer a software infrastructure for publishers to create their own interactive and engaging video experiences with dynamic playlists and a unique video browsing experience for their audience. But we don’t judge or rate their content. In the end, they get a turnkey solution and they decide what to do with it. That is the power of a decentralized web.
That being said, we are going to set up a system where the audience can act as content screeners and can be hired by interested parties (ex: an advertiser or a video hosting company for user generated content) in exchange of dubtoken bounties to flag inappropriate content. This process will be fully automated and will be a much more interesting alternative to content screening farms which tend to be very expensive and difficult to manage. Nothing is better than having your own audience judge the quality of your content.
BLOCK TRIBUNE: Similarly, YouTube takes down a lot of video over copyright issues. How will you manage that?
FRED DIONNE: The publisher and the platform where the video has been published will manage take-down notices as we do not “host” the video content. We comply however with the DMCA regime where necessary. For instance, although we don’t host the content, certain smart objects added on a video may violate third party copyrights in which case the protocol will penalize repeat infringers.
We believe IVEP actually creates a better ecosystem for content creators and publishers by facilitating a collaborative and win-win approach to content creation and distribution by automating the sharing of royalties amongst them, based on transparent and immutable viewability and engagement metrics. Most content creators don’t have the distribution channels and publishers need better quality and original content. They need to combine their strengths because when they do the audience reaps the benefits and ROI and retention increases significantly. IVEP realigns their interests and also makes native advertisers happy because the quality of content is improved.
BLOCK TRIBUNE: Are there any plans to incentivize popular talent with additional benefits?
FRED DIONNE: The IVEP Reward Engine is meant to incentivize the most active and most contributing members with dubtokens, so yes talent will be incentivized. It can be a developer who creates a very useful app or a creator/publisher who displays a variety of interactive experiences and also rewards its audience for engaging with such content. Trust scores for every participant will also affect rewards within the protocol. Basically, the ecosystem will reward the best participants and penalize those who violate the code of conduct.
BLOCK TRIBUNE: What will you use the ICO proceeds to do?
FRED DIONNE: We will continue to build the tech according to our road map, market and promote our amazing tech and be aggressive at expanding our activities internationally with developers, content creators and publishers. We also aim to bring interactive experiences to our good old television set with a very unique method, and introduce IVEP within AR and VR experiences. The budget will be supervised by a board composed of a majority of independent members, and our financial statements will be audited and approved by our members.
BLOCK TRIBUNE: How do you make money?
FRED DIONNE: The IVEP Association seeks rent on the interactions and the sharing of immutable and trusted data using blockchain technology. We will charge a monthly license fee to use the protocol and additional fees for transactions happening on the protocol (all paid using dubtokens) but we plan to be very generous with our members, especially at the beginning of the protocol’s life, because we have their interest in mind. It’s simple: If they thrive, the protocol thrives.
It’s important to note that IVEP is overseen by a non-profit association. It will thus invest any excess of liquidity in improving and promoting its tech and the services to its members.