Interview with StreamSpace ICO
The presale is currently ongoing until January 15th
ICOnow: Can you briefly introduce us to your project?
The StreamSpace platform is the most progressive video marketplace in the world. The dual blockchain ledger enables both decentralized storage and distribution as well as an instantaneous and transparent payment system that will disrupt today’s oligopolistic streaming content distribution networks.
Our goal is to become the world’s leading destination for curated video content, with a deep catalog that will enable intensely personal viewing experiences and will be financially rewarding to filmmakers and other content creators.
There are nine key components to the StreamSpace platform:
- Secure storage method of the video content, based in part on Protocol Labs’ IPFS. StreamSpace holds a provisional patent on its method for secure storage.
- Blockchain transaction ledger for enhanced transparency and security.
- Front-end decoder and embedded HTML5 player optimized for video streaming, initially on PCs, followed by the most popular consumer video consumption clients: Apple iPhone, Android smartphones, and SVOD portals connected to HDTVs (including Google Chromecast, Roku, Microsoft Xbox, Apple TV, Amazon Fire, etc.).
- Content recommendation engine that helps consumers discover new content that fits their tastes, based on viewing habits and reviews / ratings. Our goal is to lift the restrictions which currently inhibit discoverability by consumers.
- Secure digital wallet so consumers and filmmakers can manage their accounts and stored assets with confidence. A unique digital wallet format will allow the account value to be held in StreamShare tokens (SSH) and will support transferring to fiat or other digital currencies. A second digital wallet will be created to reward the individuals who support the network by offering storage capacity for content. This second token system will be called StreamSpace Coins (SPC), which will be convertible to SSH.
- Private token exchange that monitors the market value of SPC and SSH tokens, enables the financial transactions between consumers and filmmakers, and converts between fiat currency and StreamShares or between StreamSpace Coins and StreamShares, and then back to fiat currency whenever the filmmaker elects to “cash out” transactions.
- Community-focused front end for filmmakers to upload their products to StreamSpace’s environment, set prices, and analyze statistics about the popularity or reviews of their content.
- Social media channels that link filmmakers to each other and to their audiences. A key element of StreamSpace’s strategy is to give filmmakers the ability to circumvent the studio-driven promotion system and control their own marketing. Social media channels represent the most economical and innovative way for filmmakers to connect with their potential audiences around the world.
- Initial Coin Offering / Token crowdfunding campaigns for new film projects on behalf of filmmakers that are interested in this uncommon technique for raising the funds necessary for a small or mid-budget film project. StreamSpace anticipates that many
independent filmmakers will be interested in working with us to raise between $100,000 and $1 million to finance new projects.
ICOnow: How well does your team work together?
Our team works incredibly well together. We all come from different backgrounds with varying skillsets and can leverage those differences to cover all aspects of the building process. Diversity in both experience and expertise is critical to creating success in a startup environment.
ICOnow: Which projects were implemented by your team or part of your team earlier?Members of the StreamSpace team have worked on many projects for Fortune 500 companies including Dell, IBM, AMD, Hewlett-Packard, Apple, and more. We have all been around the blockchain space for a long time, and many of us were some of the earliest bitcoin miners and adopters.
ICOnow: How long have you been working on this idea?
We have been working on this idea for about a year and a half. We started by filing for a patent for our distributed content delivery network (CDN)
ICOnow: What risks do you see for implementing the project?
The market for independent film distribution is extremely risky. There are many content distribution networks currently available to filmmakers, including both traditional studio-controlled systems and internet-based systems, and there is no guarantee that filmmakers will find the StreamSpace distribution network to be the most desirable for enough of them that we can attract the level of viewership necessary to succeed as a platform or for investors/donors to achieve a return.
ICOnow: What about competitors?
StreamSpace has identified several competitors that offer blockchain-based propositions for secure streaming video content distribution:
- Decent
- Ethereum Movie Venture
- FLiK
- LBRY
- SingularDTV
- Steem
- Veredictum
- VirtuTV
DECENT and LBRY are the only competitors identified above that have a fully operational service in the market as of the original date of publication of our white paper, although most of the others have demonstrated alpha-level prototypes over the past 6-18 months.
ICOnow: Why do we need your tokens?
StreamSpace uses two separate coin systems with different staking or mining rewards, one for each of the two key processes performed across the blockchain. The most visible process involves processing transactions associated with purchasing or renting the content: downloading the video stream and processing the payment transfer associated with each viewing experience. The second, less visible process, involves maintaining the distributed storage of the video stream content, with rewards based on the amount of allocated storage, the length of time supported, and the popularity of the content.
ICOnow: Where do you see the value of your tokens in the medium to long term and the ultimate benefit for token holders?
The value of both StreamShares and SpaceCredits will be determined by interactions on the network, popularity of content, prices set by filmmakers, and number of people staking. Simple supply and demand economics will dictate the price. Our tokens are designed to reward interactions on the network rather than simply holding tokens. The more interactions that occur, the more you will be rewarded.
ICOnow: Have you secured deals with trading exchanges yet and will you want to disclose which exchanges will be trading your tokens?
We have not, but are taking the necessary steps to make the coin easily accessible to the public.
ICOnow: After a successful ICO, what is the timeline for coming to market?
We are planning to launch a beta version of the StreamSpace platform in March at South by Southwest (SXSW) festival in Austin
ICOnow: What about presale politics (dates, terms, discount)?
The presale is currently ongoing until January 15th at 9:59 am CST. There is a minimum purchase amount of $1,000 to participate in the presale. The bonus structure is $1,000-$9,999 = 10%, $10,000-$99,999 = 30% , and $100,000-$1,000,000 = 50%. The public sale begins at 10:00am CST on January 15th. The minimum purchase amount to participate in the public sale is $25 USD. We accept payment in Bitcoin (BTC) Ethereum (ETH) and Dollars ($USD).
