Netflix Challenger Theta’s Token-based Video Streaming Attracts 300k Users

Netflix Challenger Theta’s Token-based Video Streaming Attracts 300k Users

In the 5 weeks since the launch of its testnet on SLIVER.tv, token-based video delivery network Theta has reported that it has successfully engaged with over 300,000 users from 149 countries.

The network is designed to allow users to share their unused bandwidth from their PC or device to relay video streams to other people in their vicinity who will then enjoy improved streaming quality and loading times.

No one country dominates the platform’s viewing figures with the top two nations – Brazil and the USA – each representing less than 10% of the total number.

The average session time for each user on the testnet channel so far is 31 minutes, which is around three times longer than other channels on SLIVER.tv. “This is a very promising statistic, as we’ve been told by SamsungVR and several other video platforms that user engagement and session time is a top priority for them,” a Theta spokesman stated. 

Tokenised Streaming

Theta is seen as a next generation video delivery platform, employing its native token as the basis for an ecosystem of incentives and rewards that hopes to challenge traditional content delivery networks (CDNs)  such as Amazon and Netflix.

When the full decentralised streaming network (DSN) is rolled out, those delivering bandwidth will be rewarded with Theta tokens. These tokens can be used within the ecosystem to donate to favourite streamers, unlock premium content or buy virtual items such as game skins.

Silicon Valley-based Theta caused a stir at the beginning of the year when they pulled their public ICO at the last minute after raising $20 million from a raft of private investors including Sony and Samsung.

The token is currently trading at around the scheduled initial offering price of $0.12 and is available on various exchanges including Huobi, OKEx, Binance and Forkdelta.