Youtube content monetization using Bitcoin
PopChest service allows YouTube users and producers of video content to earn money without seeing advertising. People pay a very small fee in BTC, as a rule it is about 25 cents (about 0.0004 BTC), for viewing a video. It directly supports the creator of the content and allows users to see exclusive material quickly.
Still PopChest has not too much success, but recently 600 000 YouTube users have subscribed to this service.
PopChest was founded on the 7th of May 2015 by Valerian Benetton and James Poole for the purpose of creation media platform with the allocation of funds based on the blockchain. It allows content creators to receive money directly in real time after each video viewing, and allows the audience to view video content the most convenient and fast, without any signups, subscriptions and obligations.
In May the project was launched in beta, and in June of 2015 received plenty of positive feedback from the community.
Upload videos on PopChest practically non-existent. The creators say they “are looking for the original content for a busy audience. The system is so arranged that you do not have to be a Bitcoin enthusiast or even know anything about cryptocurrency”.
The website provides a preview of about 15 seconds of video, so users can understand what they are paying for. Then they receive a QR code and send Bitcoins. One important feature for content creators is that “one cryptocurrency micropayment generates the same income as 50 advertising supports of spectators.”
This is especially important given the rise of ad-blocking and the fact that the usual videos on Youtube do not always lead to obtain advertising revenues.
The Coinbase CEO Brian Armstrong said about PopChest in his Twitter:
“That's the best proof of concept – bypassing paid access for 5 seconds using Bitcoin to play video. It is a clear threat to conventional ads.”
Famous rapper Kenya West said:
“We need to get access to the best financing with the aim of making greater number of beautiful ideas and projects all around the world.”