There are many online video streaming platforms out there. The most popular one and the Boss of such platforms right now is, without any guess, Youtube where many content creators have found great success and have made a living out of it. But times are changing; CinemaWell is the newest platform out there which has adopted a rather unique strategy to set up a video streaming website which pays you for watching videos. Doesn’t it sound like a Win-Win? Let’s find out more about it!
What is CinemaWell?
CinemaWell is a new social platform for online cinemas. It uses Internet Video Co-viewing (IVCV) and lets anyone make a virtual cinema. For example, a person opens up a cinema on the platform, they can then load up their content such as a movie. They can then send out tickets like one would with a regular cinema. However here, you can send out tickets to an infinite amount of people since its a platform that can host millions of users. The platform hosts multiple features.
It was initially launched in 2014 which aimed at providing filmmakers a platform to showcase their content. However, the company has come up with their second attempt at the platform with the 2.0 version. This version makes use of blockchain technology. The platform also has its own cryptocurrency ApplauseCash (APLC) which is used to pay filmmakers and users. The platform is currently in its beta stages and its ICO is live with an exchange rate of 1 APLC for 0.001 Ethereum.
What are the benefits?
CinemaWell provides a user-friendly platform for everyone and according to them, it has “superior functionality” compared to platforms like Youtube. Moreover, Youtube is not really the place to go for movies. CinemaWell is a piracy free and a legitimate platform where filmmakers can go and showcase their content.
There are tons of movies released every year but only a fraction of them reach theatres. Most films go straight to DVD which doesn’t get them as much exposure to the wider audience as it could have. That leaves many filmmakers’ work go unrecognized and some movies never get that appreciation and fame they deserve.
This is a huge problem faced by the film industry of today which CinemaWell aims to solve through its platform.
CinemaWell brings all those unseen movies under its platform and provides filmmakers with an opportunity to get recognized. Moreover, their films are available to potentially an unlimited amount of people.
During an online cinema session, users can also talk to each other via chat and can also share feedback. Filmmakers also get in-depth viewer feedback and analytical data which sites like Youtube doesn’t provide. This, in turn, helps the content creators to strategize accordingly about which type of audiences view their product the most or what type of content should they focus on the most.
Once filmmakers have the data they need, they can also get in touch with 3rd party advertisers in order to target a particular audience. The possibilities are endless. The filmmakers also get to choose their own prices and dates for their movie streams.
CinemaWell is thus great for many filmmakers looking to break into the highly competitive film industry. However, it’s not just great for the content creators, but for the viewers as well. Not only do viewers get to enjoy high-quality streaming services via IVCV, but they also get to earn money! viewers get paid in ApplauseCash by watching and reviewing films.
The platform is not only limited to movies but one can stream almost anything. People gather in a virtual theatre and can chat in between, after and before a stream. The platform also protects copyrighted content. If someone posts copyrighted content, then they are given a Basic account and nobody gets any money from that content.
Of course, as with any platform, in order to use its features, you must sign up. Once you sign up, you have two options to either opt for a Basic Account or for a Pro Account.
Basic account users can purchase (virtual) movie tickets and get access to film streams. Users can also open their own online cinema (stream) where they can load any unlicensed content for free.
Pro account users will be the content creators, the filmmakers etc. This account holder will be the owner of the content that’s being streamed. Pro account users can set the price for their tickets and all prices are set in the platform’s own APLC currency.
This is the official currency of the platform. Users who get paid to watch and review films will receive their payments in the form of APLC. Similarly, all filmmakers, third-party advertisers; basically all transactions within the platform will be made using the APLC coin running on the blockchain network.
One will be able to use regular currency to purchase ApplauseCash. Users can also ‘earn’ the digital token as well. One can participate in bounties or share information about CinemaWell or take part in other promotion programs to earn APLC. Users also earn APLC by watching videos (till the end) and leaving their feedback. If you own Ethereum, you can also use ETH in order to purchase APLC.
The platform’s Initial Coin Offering is currently live and it ends on 28th February 2018.
The platform had a “pre-ICO” period in which 3 million tokens were available for purchase from 18 till 24th January. The actual ICO began from 1st February in which 144 million tokens will be available for purchase. Currently, it’s the first week of the ICO and CinemaWell is offering a 40% bonus to purchasers during the first week (until 7th Feb). The bonuses will start decreasing by 10% as the weeks go by, going to 30,20 and 10 from week 2,3 and 4. All tokens purchased in the pre-ICO and the actual ICO will be available for use for the buyers after the ICO ends.
There is a minimum purchase policy for those wanting to participate in the ICO. One must contribute at least 0.02 Ethereum otherwise they won’t be able to participate in the ICO. That is almost $20 according to ETH prices at coinmarketcap. The unsold APLC after the ICO will be used within the platform as rewards and will likely be sold separately to users as well. There will be a finite circulation of 300 million. For instructions on how to participate in the ICO, visit their official website.
According to their roadmap, CinemaWell has a lot of stuff already planned for the future. The concept is revolutionary and is something that is indeed a Win-Win situation for everyone. With its cryptocurrency in limited supply, its value will definitely go up at some point. Therefore, getting paid to watch movies might turn out to be very profitable in the future. CinemaWell is definitely worth keeping an eye on.