PewDiePie, who runs one of YouTube’s leading channels, recently introduced his fan base to a decentralized live streaming platform called DLive, after signing an “exclusive deal” with the platform. As reported by Nikkei Asian Review, this has resulted in a boost in platform’s monthly active users and an exposure of cryptocurrencies to a wide range of audience.
The most important thing to note here is that DLive is giving a very important use-case of the nascent blockchain technology in a highly ignored industry, live streaming. Watching people play games online is a market of around $10 billion dollars and the introduction of transparency aspect into it using blockchain is an important one.
Talking to Nikkei Asian Review, Lino Network co-founder Wilson Wei said:
I think the lack of transparency and the huge cut that platforms take from content creators, are the two biggest problems the online streaming industry has. And blockchain is the perfect technology to solve both problems,
If you haven’t heard of YouTube’s superstar PewDiePie, chances are you probably are not into entertainment news at all. Just recently, India’s entertainment YouTube channel “T-Series” overtaking the world’s then biggest YouTuber Felix Arvid Ulf Kjellberg, also known as PewDiePie on YouTube, in terms of subscribers took the online media world by storm. PewDiePie got much media attention since then and has seen an influx of new subscribers on his channel. Currently, his channel has a staggering over 96 million subscribers. An enormous amount of world’s youth follows the Swedish online gamer, commentator and “meme reviewer”.
DLive is a blockchain-based platform which rewards both its content creators and viewers for participating in the ecosystem through its native crypto known as “Lino points”. Although no earning is cut by the platform from the content creators using it, once content creators convert their points to actual money, some amount is charged. Revenue is generated by content creators from their followers. PewDiePie signed a deal with the platform in April for live-streaming his content. Since then, a huge circle of his fan base has caught up with the idea of DLive, which resulted in an increase from around three million monthly active users in March to more than five million right now, a mammoth increase of around 67%.
The difficulty with blockchain has always been around finding its viable use-cases. While nobody denies its importance and the revolution that it brings, for any framework removing the need of an intermediary party, its use-cases are not easily found owing to its expensiveness. The big properties that blockchain puts forward are transparency, immutability, decentralization and trustlessness. All of these properties find their vital importance in the financial industry and any online framework where transparency is of extreme importance, blockchain can prove to be useful and applicable. DLive uses it to change how centralized online revenue generating platforms like Twitch work for content creators.
DLive is a decentralized platform. It places content-creators directly in touch with their followers when live-streaming. Essentially, a cryptocurrency is being used at the core in the form of Lino points. Such platforms expand the limited image of blockchain, which is often associated with bitcoin, in the eyes of the general public. Due to the negative and illegal activities attached to cryptos, blockchain often gets a negative connotation. But with platforms like these, it is expected that the image of this technology and cryptocurrency among general public will improve.
PewDiePie is one of the biggest names in the online media industry and with him giving his audience exposure to blockchain-based networks, prospects of this nascent technology getting mass adoption will increase significantly. Crypto and blockchain are not just limited to trading and making quick bucks. Blockchain finds its usage in supply-chain, logistics, e-commerce, online content-creation and much more. Positive sentiment is expected to be established about cryptos as a result of such promotions.
DLive seems to be the first one that has gotten exposure from a name as big as PewDiePie, but moving forward it is expected that many more platforms will introduce blockchain in areas other than finance. The blockchain wave is still only a decade old. A lot of capital and intellectual investment is already flowing into this space and it only seems that the position of cryptos in the tech-world will only get stronger. It isn’t going away any time soon, it appears.