In an era where blockchain technology is reshaping industries, using smart contracts stands at the forefront of innovation, capable of transforming the film and entertainment landscape—a sector ripe for disruption.
It is a widely recognized issue that the global entertainment industry is at a tipping point. New movies no longer captivate audiences as they once did, people are overpaying for streaming subscriptions, and Generation Z and younger spend more time watching movies on TikTok than on Netflix in an average day. The question arises: How can smart contracts contribute to creating a better entertainment industry for both filmmakers and youthful consumers?
Introducing Vabble
Taking a deep dive into Vabble (whitepaper link), the application of smart contracts in addressing these challenges becomes evident. However, Vabble transcends being merely a streaming service; it represents a shift towards a more inclusive and equitable entertainment industry.
Vabble offers unparalleled transparency and control over the distribution and monetization of content—including movies, documentaries, and series—through smart contracts and community governance. This approach resonates with the community-driven youth and enables filmmakers and studios to directly connect with their audience, bypassing traditional industry gatekeepers.
This direct connection between content creators and youthful consumers marks a significant evolution from the current entertainment industry model, resulting in a fairer and more engaging experience.
Vabble Staking: A New Paradigm in DAO Governance
At the heart of Vabble’s innovation lies its staking and governance platform, which launched on Monday the 12th. Less than 12 hours later, it already had over 120M VAB tokens staked, representing 13% of its circulating supply.
The DAO function of Vabble is key to its future success, as it allows people worldwide to decide if a film, series, or documentary should be distributed on Vabble’s streaming service, essentially determining if the content is of high enough quality to be streamed.
Where Vabble distinguishes itself in the world of staking schemes is through its unique approach to what is otherwise a controversial function. Vabble has innovated a model of participatory staking that transcends traditional passive income mechanisms by requiring users to actively participate in the governance of the DAO to receive their staking rewards.
This means that stakers must engage; otherwise, they will not receive their rewards at the end of their lock period. While this may initially seem odd, it is clear that Vabble is focused on ensuring that stakeholders are actively involved and making sure users directly influence the types of content distributed on the streaming platform.
How Stakers Influence Content Distribution
In the Vabble ecosystem, stakers play a critical role in deciding what content gets distributed. Through a participatory process, stakers vote on proposals for new content, directly influencing the streaming platform’s offerings.
This democratic approach ensures that the content reflects the community’s preferences, leading to a more engaged and satisfied audience. Moreover, it rewards creators for producing content that resonates with viewers, creating a virtuous cycle of content creation and consumption.
Understanding Vabble’s Staking Model
Vabble’s staking model, designed with fairness and scalability at its core, ensures a dynamic allocation of rewards based on both the size of the stake and the level of participation. This model rewards larger stakes with a proportionally larger share of the rewards pool and encourages active participation in the DAO’s governance by all stakeholders, fostering a balanced and engaged community.
Practical Example of Staking Rewards Calculation
To clarify the rewards distribution mechanism, let’s consider an example. Suppose the initial Vabble Staking Pool holds 50,000,000 VAB tokens. The annual emission rate set for this pool is 9%, translating to a 4,500,000 VAB token emission rate per year, or approximately 374,850 VAB tokens per month.
Scenario:
- Before Your Stake: The pool has 100 users staking a total of 1,000 VAB.
- Your Stake: You decide to stake 1,000 VAB, doubling the total staked VAB to 2,000 VAB.
- Ownership of the Pool: Immediately after your stake, you own 50% of the reward pool, entitling you to 50% of the monthly rewards, in this case, 187,425 VAB for the month, given the pool’s monthly release rate or 374,850.
- Subsequent Change: If another user stakes 2,000 VAB after you, the total staked VAB increases to 4,000 VAB. Your share of the pool drops to 25%, reducing your monthly reward entitlement to 93,712.5 VAB. To maintain your pool share, you must increase your stake position.
This example demonstrates the fluid nature of reward distribution, emphasizing the importance of both the size of your stake and the timing of your participation.
Participation Factor in Rewards
An integral aspect of Vabble’s staking model is the participation factor. This feature adjusts your reward based on your activity within the DAO, ensuring that stakers who actively participate in voting and governance receive the full extent of their rewards. For instance, if 100 content distribution proposals are presented during your 30-day staking period, you need to vote on all 100 proposals to receive 100% of your entitled rewards. Voting on fewer proposals proportionately decreases the reward, aligning incentives with active participation and contributing to the DAO’s governance and operational efficacy.
A Streaming Vision for the Future
Vabble’s introduction of participatory staking as a means to build a fair content distribution model marks a significant leap in the evolution of DAO governance and blockchain participation.
Once content passes through governance, it is distributed to Vabble’s streaming service, which is a hybrid of Snapchat and Netflix, highlighting their focus on engaging younger generations. Rather than launching another Netflix clone, Vabble has combined social and streaming features, allowing people to watch movies together over video calls or text chat in a smooth and seamless experience.
The streaming service has also integrated various utilities for different types of crypto assets, such as NFTs. Decisions made by the filmmaker during the DAO proposal phase of distribution allow them to specify which NFT collections users may use to watch content for free, by holding the NFT in their wallet.
The platform also boasts features like Friend Lists, DM’s, and so much more. While its technology is innovative, it is also very competitively priced and operates on a freemium model for features and Peer to Peer, Pay Per View streaming.
Does Vabble have the experience to re-invent the entertainment industry?
As the landscape of film distribution continues to evolve, having the right people to help Vabble position itself as the leader in blockchain-based OTT streaming, is important. Last week, Vabble was thrilled to announce a powerful new alignment with industry veterans Barry Chamberlain, Philip Groves and Joanna Miles. This dynamic trio joins John C. Hall on Vabble’s Advisory Board at a critical moment, poised to disrupt traditional film distribution models.
John C. Hall brings his vast experience as the former Executive Vice President of Distribution & Marketing at Universal Pictures. His career, spanning several decades, includes working on over 408 theatrical releases, covering a wide spectrum from major franchise titles to Oscar® winners and blockbuster hits.
Barry Chamberlain, former President of Sales at CBS Studios International, brings his expertise in sales, marketing, and intricate deal negotiations across every medium has been a driving force in generating multibillion-dollar revenues and successfully leading global operations through various evolutions in the media industry
Philip Groves, celebrated for his work as the writer and producer of the IMAX documentary ASTEROID HUNTERS and former EVP of Worldwide Distribution and SVP of IMAX Corporation, brings his influence in bringing blockbuster event films to IMAX screens worldwide. His commitment to expanding the reach of IMAX documentaries has set new benchmarks in the industry.
Further enhancing the board’s expertise is Joanna Miles, former SVP of Theatrical Marketing, Entertainment One, Canada. With over two decades of experience in the film industry, Joanna has played a crucial role in marketing major titles such as The Hunger Games franchise and the John Wick franchise to Canadian audiences. Her extensive background in film festival management and talent negotiation further strengthens Vabble’s position in the industry.
Vabble is gearing up to showcase its groundbreaking approach at film industry events and festivals globally. Alongside these efforts, Vabble is excited to announce that its innovative streaming platform is set to launch soon, and its DAO launched on Monday, February 12th.
In anticipation of this launch, filmmakers, especially those in the indie sector, are already invited to utilize Vabble for distributing their content. This early access provides a low-cost, efficient alternative for creators seeking to navigate the distribution landscape.
This strategic expansion of Vabble’s Advisory Board marks a new chapter in the company’s journey, promising to redefine the paradigms of film distribution and elevate blockchain’s role in the entertainment industry.
For more information on Vabble: X | Telegram | Discord | Website
Note: This press release is for informational purposes only and should not be considered financial advice. Participating in staking involves risks, and individuals should do their research before engaging in the VAB DAO ecosystem.
Disclaimer
This article contains a press release provided by an external source and may not necessarily reflect the views or opinions of BeInCrypto. In compliance with the Trust Project guidelines, BeInCrypto remains committed to transparent and unbiased reporting. Readers are advised to verify information independently and consult with a professional before making decisions based on this press release content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
