Updated: Jun 9
There are many crypto platforms out there which either try to replace YouTube, some act as a supplement of YouTube and some built on top of YouTube. They all give you the user their native utility token for either posting content or some even do it for viewing content. The main advantage with a lot of these platforms is that they are very censorship resistant and don't take any sides when they ban some content on their platform.
Some related reading on the algorithmic bias that companies like Google have is here.
The biggest disadvantage is obviously that they're not as big as a YouTube or a DailyMotion/Vimeo where millions of videos are served every day for people to consume but as a user, there are a LOT of advantages to use these crypto video sites. I'll list some of them below with Lbry and i'll also cover some other crypto video sites in other blog posts!
What I LOVE about Lbry!
Daily Rewards! You heard that right! You get AT LEAST 1 LBC every day for watching content on Lbry. You can look at the price of 1 LBC token in the widget below. So, they give out that amount every day for just viewing content on their platform and usually if you keep watching more stuff, you are able to earn a lot more than 1 LBC every day. So that's a HUGE incentive for people to be active on the platform even though they're not creators.
Censorship resistant. Lbry is one of the most censorship resistant platforms out there, as much as any peer to peer platforms can be. If you'd like to learn more about it, here is a blog post by Lbry's founder Jeremy Kauffman which goes into detail about this topic.
There are a lot more incentives for creators on Lbry than on platforms like YouTube. For one, you can start earning right away and you don't have to reach a certain minimum level (I believe it is 1000 followers) to start monetizing you content. If your content is good, there are a lot of people who are willing to tip creators on the platform.
As much as I love the platform there are definitely some downsides to it. I'm sure the team is working to fix those issues but here are some you should be aware of.
Lbry downloads all the videos or documents that you access on to your local device. If you end up watching a lot of videos and you suddenly seem like you're low on space, this is probably what caused it!
There is no iOS app yet. There are a lot of people waiting eagerly for this including myself. I believe it should be coming out in the next couple of months.
There is an Android app but it is very slow and clunky although I think with their most recent upgrade this may have been improved drastically. I need to go back and check on this again.
All in all, I love Lbry and would highly recommend it to content creators and viewers and I firmly believe that it's only going to get better and better in the coming months!
If you'd like to tip me the native Lbry LBC tokens, here is my address: bL1ELuzm9hFiALf2YvCeC1qpFkWBLCSqEb
Or, you could use my referral link to sign up for Lbry and we both could get some LBC tokens in the process.
Nobody's Rating: 4.25/5