Home Altcoins News Filecoin (FIL) Sponsoring DeCrypt (DCPT) and File.Video Is Free to Upload and Share Video

Filecoin (FIL) Sponsoring DeCrypt (DCPT) and File.Video Is Free to Upload and Share Video

Filecoin FIL Sponsoring DeCrypt DCPT

Filecoin facilitates makes decentralized video hosting for everyone. They claim that file.video is the easiest way to upload and share video. It’s free to use and there’s no signup required.

The free limit is only 30MB~.  One of the users stated, you do not earn with this. You pay to use this. And it is quite big news. In order to earn you have either to allocate HD space to Filecoin or transcode with livepeer.

Also Filecoin stated, “Token-holders will be able to use their Filecoin-sponsored DCPT to redeem exclusive NFTs that Filecoin and Decrypt have commissioned from a series of five artists.”

For clarity, DeCrypt is a cryptocurrency focused publisher. They are planning new ways to build loyalty reward programs. 

Reportedly, DeCrypt the publisher have opened its utility token (DCPT) program and announced that Filecoin, the cryptocurrency of the Protocol Labs, will be the sponsor of its first “season,” which will run between eight and 12 weeks.

For now, the sponsorship, is a “low six-figure deal.”  Readers will be able to accrue the Filecoin-sponsored tokens by way of their engagement with site’s content. Also, each coin will be featuring the Filecoin branding and readers will thus be able to redeem exclusive non-fungible tokens (NFTs) with the currency. 

Reportedly, more than 81,000 readers signed up for the program and they will be airdropped three tokens, taking nearly 250,000 tokens off the table. Further, the rest of the coins will be allotted on a first-come, first-served basis.

Alanna Roazzi-Laforet, Chief Revenue Officer and publisher of Decrypt stated, Decrypt’s monthly revenue is made up of 40% sponsored content, 40% advertising and token seasons and 20% from events.

Decrypt have been testing their utility token, by rewarding a small group of readers engaging with the site content: reading an article for 40 seconds will generate one token and it will be possible for users to generate a maximum of three tokens per article.

Anyone who shares an article will be generating two tokens, and anyone who is reacting to a story will be generating one.

This token system will work like a new-age incentive program, thus encouraging readers to interact with Decrypt’s content in exchange for their closed-system currency.

Theoretically, the number of tokens is theoretically infinite.  So far, Decrypt have minted 21 million of the Filecoin-sponsored DCPT for the first season. Thus, the publisher will be able to create more tokens; however, the process costs money, an expense referred to as “gas.” By sponsorship agreement, Protocol Labs have agreed to cover the cost of gas.

It just looks like Filecoin is in action in sponsoring innovative stuff.  

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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