What Is a Video NFT and How Does VideoCoin Technology Make It Better? by Vivid Labs Team VideoCoin
Without the advent of cryptocurrency, it is impossible to pay people for doing something. And for some people who just contributed a small amount of resources and they only made 35 cents, I’d have to do a wire transfer to them for 35 cents. Creators of VIVID, the next generation NFT publishing platform that allows anyone to create, manage, and sell multimedia NFTs. There are many different ways of “encoding” a video and the process of changing a video from one encoding format to another is called “Transcoding”. When you click on a video on YouTube, to your joy, playback starts almost immediately. All the technological magic that happens behind the scenes from the point you clicked on the video till you see it play on your browser is a good summary of what cloud video infrastructure does.
- In the simplest form, it just allows computing to be turned into a commodity in the same way that Uber has turned cars into commodities and Airbnb has turned homes into commodities.
- This first customer use case of the VideoCoin Network is harnessing the power of blockchain to make 4K stereoscopic 3D video cloud processing more efficient, less expensive, and more secure.
- It is also used to convert incompatible or obsolete data to a better-supported, read newer, video format.
- They’re generally boring and don’t do anything breakthrough.
- Between end-to-end encryption and decentralization, VideoCoin will also enhance security over existing systems.
The Video NFT platform will create and store “proof of ownership” via encryption alongside the Video NFT that solves a pain point in today’s NFT landscape of not being able to prove ownership of a work of art. The VideoCoin Network will start integration of its decentralized video processing network with Filecoin, which has a large and low-cost storage network, to offer a platform optimized for video NFTs. The tech could be useful for folks like movie makers or video game streamers.
What Should You Know about the VideoCoin Token Sale and Token Distribution?
As of the date this article was written, the author does not own cryptocurrency. India banned several exchanges in December 2023 and continues to push back reviews of any legislation regarding bitcoin and other cryptocurrencies. Data linked—or chained—between blocks led to the ledger being called a blockchain. On Jan. 8, 2009, the first version of the Bitcoin software was announced to the Cryptography Mailing List, and on Jan. 9, 2009, Block 1 was mined, and bitcoin mining began. Learn more about the cryptocurrency that started it all—the history behind it, how it works, how to get it, and what it can be used for. Peer-to-peer platforms are places where users can buy Bitcoin directly from other owners.
Proof of ownership on Filecoin will enable a whole new class of applications for NFTs alongside digital collectibles, including video origin verification, the companies said. Halsey Minor borrows https://www.tokenexus.com/what-is-videocoin-vid/ from an amalgam of unique high-level entrepreneurial experiences to pioneer yet another industry. What the blockchain does is it allows for information and payment to flow together.
What is Video Transcoding and Why Do You Do It?
A lot of people watch videos on the internet and on traditional broadcast television. CoinCentral’s owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner. I built web publishing software because I knew exactly what I needed to build and that helped everybody else in the industry.
- There’s an idea out there that’s been pursued in a number of businesses quite successfully.
- Through its integration, VideoCoin is architecting a solution to reliably create, store, and trade video-based NFTs that circumvents the inherent complexity and expense of storing actual data on Ethereum.
- First, the original file is decoded to an uncompressed format.
- I think you’re going to have a whole industry of people who are trying to innovate and build new applications just exactly as we’ve done.
- This launch enables VideoCoin users to live stream video content, as well as be compensated for hosting the streaming services.
Over time, people realized it was a better platform for innovation. I can only tell you when things are open source, you find a lot more community development then when they’re not. Even if you don’t, VideoCoin has millions of reasons to believe it’s on to something. Moreso, royalties are turning out to be one of the most fascinating enablers for NFT use cases.
The Team
There are many traditional investment brokerages that offer cryptocurrency trading nowadays. Robinhood was the first large investment broker to offer Bitcoin and other cryptocurrencies. Create vibrant, updateable NFT experiences combining multiple media assets of any type. We partnered with a first-class NFT production studio to combine our technology with experts in design and marketing.