The Rbit Token is used by RHOVIT providers and advertisers to incentivize users to watch and share their content.
Rbits also provide the backbone for RHOVIT’S circular economy by “valuing” users transactions on the site and using those transactions to mine Rbits.
The mined Rbits are then distributed out to the content provider community and used as backing to distribute RHOVIT’S in-house currency, “Coins” to the user community so they can purchase more content.
RHOVIT was created in 2012 by filmmakers who wanted to fix the system. Not just for film, but music, books, games...for all creators. The idea was to give artists all the power of a major platform but the freedom and profit of their own site. It was a better system but it wasn’t complete. In 2014 we sidelined the project. So why are we bringing it back now? Because of technology like Ethereum and the ability to complete what we started.
The problem with content monetization is not singular. High platform fees, transaction fees, middlemen, skipped ads, ad blockers, low cpms, piracy, audience reach, expectations of free...it is all of these. Blockchain and the creation of a token by themselves are not a cure all. But when used as the backbone and fuel of a fully realized circular system that feeds and regenerates itself, they are the technology that will disrupt an entire industry.
RHOVIT has used them by creating a value layer where there was none. Imagine if all the actions a User took on a platform...renting a movie, reading a book, watching an ad...were drops of water. Now imagine all those drops collected in a trough. Right now on platforms that water sits until it evaporates into nothing. RHOVIT dumps it over a water wheel, powering an engine that creates value for Users and Providers in the form of Rbit Tokens. It is the creation of value from waste that is the key to solving the writers problem and the problems faced by millions of other content creators big and small. RHOVIT is an earn and spend circular economy that creates and spreads value to it’s entire community.
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Corporate Strategy Rated on Jun 17, 2019 Modified on Jun 17, 2019
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Thousands of crypto and blockchain startups that launched during the rise of the new world order in the last five years, only a few hundred have a product on the market today. Rhovit came on the scene in 2017 during a period of great interest for investors betting on the cryptocurrencies rise to riches. Many crypto startups achieved their funding with a whitepaper and a promise. So many have failed to deliver. Rhovit, on the other hand, didn’t participate in the hype cycle and focused rather on building a product in the pay for view of digital content and time their launch when the value of blockchain has more traction with the investment community and participants see the value.
Today, you can join Rhovit at rhovit.com. Rhovit separates its self from other content-driven incentive platforms by paying both the creator and viewer. Rhovit is the only incentive platform to pay the content creators in USD rather than crypto for content viewed. They are a curated site and the primary content comes from gamers, bloggers, and video producers.
Viewers earn Rbit token as well as virtual points, used to unlock content. Every time a viewer unlocks content they earn what is called LOOT. Achieving 20 LOOT gives the user 1 Rbit token, which they can use to buy digital goods in RHOVIT's digital store or move to their NEM wallet and sell on cryptocurrency exchanges. All content purchased is paid for with points. Content creators keep 100% of the points spent on their content. Points earned on viewed content are in USD—good cold hard cash!
How does this compare to other well known content platforms? If you’re a content creator and you posted your content on YouTube, for example, you would have to achieve milestones with the number of subscribers and ad clicks to earn cash. This will take some time if you are not a digital expert in growing your community. Rhovit, on the other hand, provides instant weekly payouts on content reviewed and rewards the producer earnings sooner without having millions of subscribers. Rhovit is well positioned to content producers who want to see an immediate return on investment for their hard work in the creation and sharing of gameplay, blogging, videos and coming soon Podcasts.
The challenges for Rhovit will be to break out of the pack of startups in the same segment like D.Tube and BiTube who focus on a decentralized approach for viewers to earn tokens when they view content. If Rhovit can sign significant distribution content partners in hot segments such as podcasters and gamers, this should provide an opportunity to scale on hot trends and break out as a digital distribution and content leader.
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