Cinedigm Anime Streaming Service Supports Theta Blockchain Technology
By Harry B - Crypto Consultant - 01-04-2021
Cinedigm, a major American content provider, is integrating blockchain technology into one of its streaming platforms. Blockchain technology in banking is becoming increasingly popular alongside the topic of investing in cryptocurrency, for its secure and decentralised nature. Anyone buying crypto is interacting with a blockchain, with Theta (THETA) being amongst some of the most popular examples.
The company has begun working alongside Theta Labs, a decentralised video distribution platform. The collaboration will incorporate Theta's peer-to-peer streaming network and cryptoasset rewards into its CONtv Anime channel, who broadcast a wide variety of anime series and movies.
CONtv Anime will accept micropayments in Theta Fuel (TFUEL), one of the Theta blockchain's two native tokens. The token would be used as a reward for viewing the channel's content and uploading video content by using additional bandwidth and computing capacity. People will be able to receive up to $15 in tokens per month simply by viewing content in their browser, as per the announcement.
Cinedigm aims to increase consumer interaction and monetization while lowering costs by integrating Theta's blockchain-based streaming technology. According to Theta Labs, its streaming technology will reduce video distribution costs by at least 50%.
CONtv users can easily earn TFUEL micropayment rewards by watching anime and other content on the platform as well as showing the content to other CONtv users. There are talks to using the rewards to potentially unlock other rewards for token holders, this can include more shows, content and experiences.
Specific TFUEL micropayments technologies were activated earlier this year by Theta Labs for projects such as live poker entertainment hub World Poker Tour and entertainment distribution platform Shout! Factory.
As previously noted, the Theta network has lately seen some rapid growth, gaining cooperation from Fortune Global 500 companies such as Google, Samsung, and Sony. In the midst of network expansion, Theta Network's token THETA reached new all-time highs in 2021, breaking into the top ten crypto market investments in March.