Micro Pay Per View with Crypto Video System

[Hilgi]

This is our working proposal, we are seeking feedback regarding all areas of the proposal, please let us know what we can add or remove to help increase our odds of acceptance.

How will your proposal help the crypto community and the DAO?

We feel that the DAO will benefit from proven existing projects which can deliver immediate returns on a regular basis. Our goal is to increase the use of cryptocurrency by the average person and, based on history, the way to increase use in a technology is through the entertainment industry.

How long will it take to begin sending revenue to the DAO?

WatchMyBit is an up and running company which uses bitcoin and alt-coins through ShapeShift as a start button to view exclusive videos from musicians, youtubers and other content creators.

Our technology is perfectly suited for the DAO since we can easily split out part of our revenue to Bitcoin on a daily basis -- this allows the DAO a diversification option. We would be returning funds to the DAO from day one.

Why are you seeking funds?

We have several projects which need funding. These projects will help our company, Etherium and The DAO grow once they are complete. These include:

1. Revamp the website to be more mobile friendly, make all videos easily embeddable on other websites and several other features and UX improvements.

2. Incorporate blockchain based rights management such as MediaChain, UJo and Tokenly.

3. Utilize blockchain based cloud storage such as storj.

4. Integrate Paypal micropayment solution.

5. Marketing our Super-Fan Appreciation Program to midlevel YouTube creators and bands. Our offer to creators is if they release their videos a week early on our site, before they post it to YouTube, we will guarantee that they make more than they make from their average first week on YouTube.

How much do you seek?

We seek $200,000 in order to complete our projects and help catapult crypto into the mainstream. Upon Transfer we will immediately code our system to begin paying the DAO back using the formula outlined below.

What is your plan to start a return on the investment?

Our business model is based on a percentage of the revenue from each video viewed. For example, if a content creator charges 20 cents per view we would receive 5 cents. Our average could be higher or lower but we will assume an average of just 5 cents per view to WMB. Our offer is to pay back 15% of our gross revenue using the model described above until the DAO receives their investment back. Then we will continue to pay the DAO 10% until an additional $200,000 is returned; then 5% until another $200,000 is made 4% for another $200,000, and finally 3% for yet another $200,000. This would be a net gain of $800,000 to DAO in Bitcoin.

Here is an example of how many views that could take. Sample Revenue Sharing

Why would people pay to view a video when they have Youtube?

Our model is based on being a complement to youtube and other video platforms, not a replacement. We anticipate popular content creators to receive only a 10th of their youtube views but their revenue would be higher. While 100,000,000 views a year may sound like a lot, YouTube receives over 4 billion views daily.

Our model helps creators target their Super Fan’s: those admirers who want to continue to see content from their favorite creator and won’t mind paying micropayments for early or exclusive access. This also appeals to those who are tired of constant commercials and pop up ads, people who don’t want to risk their identities or credit cards being stolen, and of course the unbanked will have access to premium streaming video.

How our system works Video. Our system

Our Executive Summary. Executive Summary

Our team includes:

Doug Scribner: Bitcoin evangelist and early bitcoin adopter. Mark Hilgenberg: Long time decentralization activist and financial advisor.

Oliver Goretzki: Lead developer.

David Duccini: Blockchain payments architect, creator of 2Give coin, IDCoins, DoABitOfGood and Strength in Numbers Foundation

Brian Zisk: SF MusicTech Summit - Founder & Executive Producer,Future of Money & Technology Summit - Founder & Executive Producer.

Howard Sapper: New business development, music/festival industry adviser

Bob Hilgenberg: Hollywood liaison at Disney studios, Screenwriter/Director/Producer

Eiichi Naito: Founder, CEO Domo Music Group/ advisor

[nvmr]

I feel a bit awkward because I like the idea of using cryptocurrency to micropay content creators and yet my gut feeling about your proposal is that I would not support it if it were up for voting.

Here is why:

• It looks like yet another instance of "here is a great idea - pay me to prove it". Yes, you claim to have an existing revenue stream, but how profitable is it now? How much more profitable will the project make it when completed?

• If your company is already profitable, why can't it afford the investment from existing revenue?

• I don't mind if you consider me greedy, but I don't like the cap at all. I'm looking for investment opportunities that reward risk-taking with a perpetual revenue stream, direct or indirect.

• The business idea itself fails to thrill me. "Let's create a micropayment service and take a cut." - that doesn't seem to be terribly original. Why would people want to use your service over any other? How do you use network effect to build a community? What is special about it? Giving fans early access? Meh.

All in all I find the idea behind blocktu.be (discussed in another thread) a lot more enticing. Would you consider getting involved?

This comment reads more negative than I intended. I don't presume to judge your project, just wanted to share the reasons why I personally would not support it.

[Hilgi]

Please, this is the kind of feedback we seek. Thank you!

1 and 2. Yes, ad free pay per view with bitcoin is a new model but the idea of fans directly supporting creators is gaining popularity. Comedian Louis CK sells his stand up videos directly and at $5 each he made over $1 million in the first week. He also accepts Bitcoin. Plus the Patreon service shows that fans will support their favorites, we just feel that creators will get more support by not making people pay monthly from their accounts.

The key for us is to find mid level talent and those with several members of a team so splits are paid automatically and transparently. As of now we are using traditional servers and cloud storage so we are not making a profit, just a revenue stream. This increases with each new creator who promotes their work. Being a new unknown company, we just need to be seen by creators.

Three. Yes, we debated the perpetual revenue stream and we will add a permanent share (say 1%?) for ever. Do you like the higher percentages early on?

Four. Yes, we do seek to be more than an online storefront with Bitcoin as an option, this is where our back-end split engine seems to be much more beneficial to larger creator teams. But with the ability of micro-payments and lack of ads, this is still revolutionary to the average 12 year old gamer fan who is tired of Youtube ads.

Our split engine is a competitive advantage for now and being ad free and very simple to use on the creator end, they don't need to understand bitcoin or coding, just upload and follow the prompts. .

Part of our pitch to creators is to help them promote their vids by setting up a system similar to Airbitz where people can get bitcoin by promoting the videos and WMB on social media.

Early ad free access is not big to everyone but, the Super Fan 12 year old who watches every LDShadowLady vid as it is uploaded, will find a way to get 20 cents in BTC if they know they may have to wait a week before it is on YouTube. We have several other models to test beyond just early access. Especially when they see their friends posting "I just got 50 cents in #Bitcoin to watch #LDShadowLady from #WMB"

A big key is creators in every area of entertainment are struggling, YouTube, TV, Movies, musicians, all but the few are making very little. For many we offer the opportunity to make a living at what they love, sure they may not make millions but many, many more good quality creators who may have a niche market can thrive.

Blocktu looks interesting and we do plan on working with other tokens, etc. but for now Bitcoin is the easiest for the average person to get so we are starting there.

I hope this helps and thanks again for the feedback, more is appreciated!