There is an evolution to everything. Right now we are witnessing the evolution of blockchain and how it is changing and re-forming industries. Leading the way on the digital entertainment front is a company called RHOVIT.
Utilizing both a virtual and crypto-currency RHOVIT creates a circular economy that solves the many problems facing both commercial and independent creators of films, series, books, comics, games, music, podcasts and vlogs.
Be it high platform fees, transactions fees, middlemen, low ad rates, ad blockers, piracy or the expectancy of free content, providers face a myriad of challenges when trying to monetize their content. How does crypto backed ecosystem fix this?
“What we’re able to do that traditional platforms can’t, is actually create a value layer that benefits both providers and users.” Said Matt McCullough, CEO and co-founder of RHOVIT. “This layer allows us to create a system that is better than free. We actually give users money and then reward them for spending it.”
The Rbit, an ERC20 token, is the heart of RHOVIT’S ecosystem. Mined on the site by users actions, i.e purchasing content, watching ads, sharing promoted posts, it is what is used to fuel all ads, promos and incentives on the site.
Content is purchased with a Coin. A virtual currency, it has a set value of $.005 and allows for micropayments, providers getting paid in USD for content and helps avoid any barrier to entry for non-blockchain enthusiasts.
“RHOVIT’S system is a great way to introduce blockchain in easily consumable bites to the public.” Explains CTO Charles Voltron. “People won’t have to know what blockchain is to receive the benefits of it.”
While RHOVIT is integrating game-changing technology now, it was originally conceived and built in 2012. Brother and sister and co-founders Matt and Mary McCullough come from an independent film background and experienced first hand the need for a better system.
“It wasn’t just film. I had friends who were game developers, musicians, it didn’t matter, the problems were all the same.” Explained Matt.
“The idea behind RHOVIT was always to create an environment where creators could actually make a living doing what they love. We got part of the way there in 2012.” Recalled Matt. “Now with advancements like Ethereum, we can finish it.”
RHOVIT is a hybrid cloud and blockchain digital content platform that allows providers to keep 100% of their sales, monetize video views through micropayments and earn Rbits to promote content and incentive their fans. Users earn Coins on a weekly basis through all their actions on the site. They also earn Rbits each time they watch an ad, promo or share a promoted post.
“The power of RHOVIT is in utilizing what is wasted on other platforms,” explained Matt. “ Imagine an open field where gusts of wind blow through. If there’s nothing to capture that wind, then nothing is created. We’re using blockchain as our windmills and with it, we’re going to energize a whole community.”
RHOVIT is holding a Pre-ICO which begins on Oct. 25, 2017. A bonus of 30 per cent will be offered to participants. You can sign up to get on the whitelist on their website, www.rhovit.info until the sale begins. Whitelist participants will receive a 40 per cent bonus.