Odysee is a video sharing and streaming platform that operates on the LBRY blockchain. The platform cares about the voice of minority groups, free speech, gaming, and niche interest areas that are represented by means of a censorship-resistant Web3 world.
Today, LBRY project announced that they will cease operations due to the case that the team had against the SEC. Eventually, the team ran out of money to sustain their operations, and the reputation of the project, so does the reliance of the group, was damaged heavily that gave birth to this undesired consequence. Even though LBRY was a strong nominee to be the Web3 of Youtube, the things went perfectly wrong.
Now, we see what was expected. Basically, the team declared that LBRY is down. It might be hard to acknowledge the situation but I do not think the content creators or the team of Odysee cannot continue what they usually do. If the team and the community decide to find a new house for themselves, I think Hive is one of the best possible options to let them do what they have been doing from the very beginning.
Hive Offers More of Everything
The determination of the community and the project over the freedom of speech and the resistance against the tyranny of Web 2.0 projects is worth appreciating. Also, Odysee team was able to build a new brand and approach even while the case of the SEC was ongoing. There are lots of great sides of the project to add value to Hive ecosystem.
On the other hand, Hive is a perfect blockchain to integrate Odysee on because the transactions are free (paid via Resouce Credits), the community is strong and eager to use video content in their short and long form of written content and the philosophy of the Hive community matches with the worldview of Odysee.
In terms of tokenization, incentives and financial side, Hive can be the among best options once again. Odysee can tokenize the profiles, create their own native token or the team may apply for some funds from HDF governance to be a part of Hive in the initial stage. Also, I'm sure the community will delegate lots of Hive Power to help the project if they choose Hive to build their businesses.
Risks and Rewards for Both Sides
I think we need to focus on a single risk that may not be good for Hive: the risk of blacklisted people or operations of LBRY / Odysee.
If there will be such a collaboration in the foreseeable future, it should also be neatly organized as the SEC may target our project as a continuum of the previous work. So, the safer, the better for the whole Hive ecosystem.
Regarding the name of the project, we may also need a rebranding of Odysee so that we get away from another possible attack by the SEC. Since the early in the morning, I've been thinking about the possible collaboration and the unseen risks that may come true one day. In the case that project gets rebranded and the team members are not blacklisted, then there will be a pure win-win case with this move.
It is worth considering this possibility. Like many other times, Hive can be the solution of people who are looking for a new and better world with the help of blockchain.
I support the vision of VSC Project and hope to see Odysee on Hive blockchain. I'm sure 3Speak will find a way to integrate Odysee or the team of the project soon. Fingers crossed.
Do you think Odysee can be a good fit for Hive?
Share your thoughts below 👇
Hive On ✌🏼