Imagine a platform like Steemit but for Videos, Music, eBooks, Images and all sorts of Files. A platform where you can earn money with basically everything you offer and by interacting. Based on a decentralized blockchain cryptocurrency with BitTorrent-like peer-to-peer features.
Sounds too good to be true? It already exists!
LBRY has announced the start of its open Beta stage for the platform. They have a desktop program ready to share your files. Check out their website and get an Early Access.
The Price is falling
On June 22nd the developers of LBRY.io, the official platform on top of the blockchain, had a live stream announced for celebrating their one year anniversary. Up until this point the value of LBRY Credits (LBC) went just in the last month from 0.15 up to 0.92.
That's over 500% value gain in less than a month.
And then came the life stream...
The first thing that went wrong was that the tech didn't work and the stream didn't start at first.
When it finally began it was from a mobile phone.
The YouTube live chat demanded to hear the date for the open beta phase of their software. And Kauffman promised that if will be by the end of July at the latest. But it sounded a bit nervous.
The rest of the live stream was a Q&A.
It didn't look very professional and the market reacted immediately. Although I enjoyed the stream I can understand why the market is pulling out. It felt like it is not ready.
They have already over 100.000 users
In reality the software has come far as it seems. They have over a whooping 100k users and already deals with over a dozen of top YouTubers to put their content on LBRY as well. Others are making already more money with their video courses and other material than on any other platform.
The community is also helping to spread the word about LBRY which is being rewarded in various ways on their bounty program with LBRY Credits. Check out their website to learn more.
Sadly I couldn't test it myself yet, due to a problem with unicode and the current beta client. They want to fix that with the next version. But despite knowing this project only in theory I can already see that this is the most interesting platform I have seen next to Steemit.
Huge Potential
The decentralized aspect of LBRY and the reduced costs and increased profits by leaving out the middle man are brilliant for content producers like myself. At the moment I develop a memory course for Udemy, market leader in online courses. They grab up to 50% of my profit when the student finds me on their website. When my course is found on LBRY I get nearly everything except for the low transaction fees.
Even YouTubers can profit from it because a) there will be paid marketing campaigns on LBRY.io and b) they earn with each click. This is called micro transactions and basically means that each user pays for free content. But it will be such a small sum that it doesn't really matter for the viewer but generates study streams of income for the owner.
I didn't exactly get the commenting and voting part but I asked in their Slack channel and it seems that will be rewarded as well. That is awesome. We all know how awesome that is from Steemit. On the next YouTube it will be the same.
Will the Price go up?
I am no expert in finances. All I can do is use my instinct and my intelligence. And it looks to me that LBRY is a thriving idea and it will take eventually. How far they are will be finally revealed with the open beta which supposedly starts at the end of July. But however the current state of the software is I bet this is the future of digital content sharing. So I am getting myself some LBRY Credits. While they are at such a low price. I doubt it will stay there for long.
What do you think of LBRY? Can it become the next big thing? Will the price shoot up eventually?