Hi everyone, my name is Beau, and I want to talk to you about Library, the decentralised, block-chain based video streaming platform that puts the power in your hands, and why this cryptocurrency could be a very, very lucrative investment.
So, what is 'Library'? Library is a new online marketplace currently in public BETA stage. It is built using blockchain technology, and will provide a platform for content creators to upload videos, movies, music, books, courses, and more.
I can hear you now, Youtube does many of these things, so what makes Library so special? Well, it is de-centralised. And when I say de-centralised, I mean completely de-centralised. I mean that you as the content creator, have complete and unbreakable rights to your own content. I mean that you can upload your content and provide it to a consumer for free, or you can charge for it. Its completely up to you. How much you charge, what you give for free, is your choice. The creators receive their revenue from the content they decide to charge for. Library is community controlled. No party other than the publisher can unilaterally remove or block content on the Library network. Oh, and no 3rd party collects its share. The revenue goes 100% direct to the content creator.
So........why would Youtubers and content creators leave other platforms and come to Library? What is in it for them? Well, the ongoing censorship at YouTube. Big Youtubers, such as Jenna Marbles, Pewdiepie, and many alternative media channels are having their ‘non advertiser friendly’ videos demonetised. This means they are losing revenue, and are not in control of their own content. Whatever YouTube decides as not advertiser or family friendly, can be demonetised, as they so choose. This is , and will continue to cause a ‘gap’ in the market. A space where content creators will be searching for as their content no longer is able to sustain them, and earn them a salary. Not only this, but You tube’s censorship is dictating how these creators produce and deliver their own content.
OK, so lets say a Youtuber comes to LBRY and decides to charge for some of their videos. Everything (Youtube et al.) is free at the moment so how and why would I pay for it? Well my friends, here is where it gets interesting. The native currency of this platform is called 'LBRY credits', and you use it to pay for paid content. I can read your mind right now, you are thinking "Youtube is free dude....not sure how paying for videos is going to work!!", aren’t you? Well, let me pose you this. How much do you pay for Netflix? How much do you pay to rent a movie? How much do you pay for a music subscription service? Let us use an example here. Pewdiepie on average gets around 3.5 million views per video. Now if our friend Pewdz wanted to make $100k (yes, $100k!!) for one video on LBRY, you know how much it would cost you to watch based on his current views? 0.028 cents. Not 10 cents, not 1 cent, but 0.028 cents. Can you see what im getting at here? You will be able to watch quality content, for literally nothing once this platform gets big, and popular content creators come on board..
So, would buying some LBRY credits now be a good investment? Well, LBRY credits are currently at around $0.60 USD each, with a total market cap of around $32 million. Library have said that after 20 years of release, there will be a total of 1 billion tokens in circulation. Although the release will be following an exponential (X^2) pattern of release, lets make a conservative estimate that in 3-5 years there will be 500 million tokens in circulation. Using the estimated market cap of Youtube, which is $80 Billion USD, the LBRY tokens would be worth approximately $160 a token. Yep, you heard me right, $160 a token. This is a 333x gains on your investment, or 33,233%. So if you invested $100 today, it could be worth $33,333 if it reaches the $80 Billion market cap. Hard to believe, but seriously it has this potential. But what if Library could not only disrupt Youtube, but Netflix, Amazon, Udemy, and other online services? You see what I’m getting at here, this platform has the potential to be YUUUUGE.
Now we need to be realistic, there are many hurdles for Library and its team to overcome. This platform needs to be flawless, quick, beautiful and most of all, usable to the consumer. The pubic BETA version has been a bit clunky, but they are upfront and clear about this. The library team are working hard and have already released an update since release. Personally guys, I have huge hopes for Library.
To conclude, I strongly believe the continued (and disappointing) censorship of Youtubers is going to continue. The demonetisation of politically incorrect content will increase, and the gap for content creators to earn revenue will continue to grow. Something is going to fill that gap, and its going to be filled soon. Will it be Library? Who knows. But I’m cheering for this team and looking forward to the returns on my investment in the coming years 😊