GazeTV, a blockchain-based social entertainment platform recently announced its launch as a solution empowering content consumers to reward creators for their work. The rewards will reportedly be distributed in the form of tokenomic incentives and reward functions. The GazeTV platform was built to empower creators and audiences to interact, support, and grow while bringing each other up. To date, GazeTV has more than 180,000 minutes of content ready for the launch on March 30, 2021.
Nowadays, anyone with a camera or smartphone can curate videos and become a content creator. The main challenge that creators face today is in terms of monetization and transparent economics. Statistics showed that it takes 752 streams on Pandora and more than 1,400 views on Youtube to make just $1. Royalties and copyrights should mean artists are compensated for their work—but this is not always the case. Many entertainment platforms’ monetization policies are vague and ambiguous, leaving creators and consumers in the dark.
GazeTV leverages blockchain fundamentals with the GAZE token created to tackle this challenge. The GAZE token lets users compensate creators based on their own preferences and tastes. The process eliminates the intermediary that determines creator compensation on traditional platforms, such as YouTube, and fosters a more transparent environment for all involved. Creators can track rewards and viewership, by earning, staking and swapping GAZE tokens, resulting in faster content-revenue distribution. GazeTV converts “users” into a global, engaged community.
The platform also offers an Automated Content Synchronization feature for creators to quickly and easily bring their content from other platforms onto their GazeTV channel. Creators can synchronize their content from Youtube, Facebook, and more than 455 million WordPress websites seamlessly. In addition, unlike existing platforms, GazeTV can also be accessed from China which opens up an entirely new market to creators and influencers.
GazeTV will be one of the few video content platforms available to Western and Chinese audiences. The roll-out of GazeTV is segmented into several phases, each phase adding exciting additional functions and features to the platform.
Speaking about the launch, CEO Jack Cheng said:
“At GazeTV, we’re repairing everything that is broken with social entertainment platforms. The unfair reward mechanisms, for example, as well as annoying in-stream advertisements and inefficient payout processes, must be fixed. We want creators to build mutually beneficial and sustainable communities with their audiences. We are building an empowered and engaged Gazer community, using different tokenomic models than what exists elsewhere. At GazeTV, we highly treasure creator and audience engagement. This is our mission. Every second counts.”