Eye Network
Eye Network is an innovative application of blockchain technology in a video sharing platform, functioning as a decentralized version of YouTube that incorporates cryptocurrency interactions. Video creators can allow viewers to bid for the opportunity to display ads before their videos. Using the MetaMask plugin, payments are made directly from viewers to creators through the web application. This model can greatly lower marketing campaign costs for videos by eliminating 90% of the administrative payment overhead typically associated with video platforms. The solution leverages the Ethereum ecosystem to ensure its decentralized structure and is entirely cloud-based using AWS for security, availability, and scalability. The minimum viable product (MVP) features comprehensive functionalities, such as user authentication and registration, video uploading, playback, deletion, management, a video recommendation system, campaign bidding, creation, and token-based payments. Our team developed this solution with our in-house expertise. In 2019, Eye Network successfully raised over $2 million with our product and was very pleased with the outcome, leading to an agreement to share the intellectual property of this decentralized platform with Fintelics.