Vabble
An onchain netflix with an innovative social UX governed by a DAO
Created on 4th June 2024
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Vabble
An onchain netflix with an innovative social UX governed by a DAO
The problem Vabble solves
Vabble democratizes the entertainment industry through DAO methodology and reinvents how people stream content.
Filmmakers/Content Creators/Studios
The entertainment industry distribution standard is heavily controlled from a top down structure. Content owners must transfer all rights over IP, distribution control to sales reps and distributors. Meanwhile, the owners are also last on the waterfall to be paid. We have decentralized the process so they:
- Retain 100% ownership over IP.
- Retain 100% of all revenue generated from consumer rentals
- Full Control and management over distribution including territories, pricing, waterfall, and more.
- Enable NFT gating and activate community building and consumer retention through NFTs.
We are live on mainnet with 85 users of our DAO. We will scale this by bringing more filmmakers their existing communities onchain.
Entertainment Consumerism
The standard of streaming has had little innovation since its inception in the early 2000s and it is rudimentary in its experience. Younger generations are now more social than ever and are leading themselves to watch pirated movies on platforms like tiktok where their social habitat exists.
Additionally, transactional video on demand is increasing as it allows for consumers to find content faster making for less time wasted looking for movies. Furthermore, it enables consumers to control spending as 1 in 3 people are over paying for services they do not get value from.
At Vabble, we are bringing a whole new way to stream content in a social environment while providing users with a method to pay for transactional video in crypto. Users can:
- Create friend lists
- Set up group DMs
- Watch content with up to 4 people on video call
- Pay for movies in crypto
- Use their NFTs to rent content~
- Participate in the content filter process by voting on films
- Help finance productions through NFTs and tokens
Challenges we ran into
Building a 2 sided market place can be difficult. We solved this by:
- Bringing in former Hollywood Executives to form a content board enabling us to get in-front of a wide range of content owners.
- Focusing on Indie productions who have either been rejected by larger streamers or are yet to be purchased from the festival markets.
Lower on-boarding friction while creating an opportunity for network effect. WEB3 has its own friction points but we solved by:
- Using smart wallet with its easy to use passkey system and Integrating Coinbase pay for ease of crypto purchases. (under development)
- A membership rebate function where users buy a membership for 1 month, 6 months, or 12 months and are rebated 60% of the cost in crypto to rent movies.
- Use snapchat as a referral system. 1 in 5 users are in group DMs on snapchat with 20 people or more. Users on Vabble will be able to send invite links to watch parties to friend groups on snapchat. (under development)
For film makers, we created an on-boarding process through an onchain form which uses as little blockchain terminology as possible. All they need to do is connect a smart wallet or other WEB3 wallet and pay a single tx fee.
Blockbuster Law - A law exists by where users may not know what other movies users have paid for. This privacy has become a standard policy for all streaming services:
We solved this by aggregating film rental payments and splitting them into multiple smaller transactions, anonymizing the film IDs and amounts. This ensures compliance with privacy laws while maintaining the transparency of on-chain transactions.
A payment model to provide users with spending control
When a user rents content, we monitor their "watch time". Their watch time is split up into quarters. If a user only watches 1/4 of the movie within the rental period, they receive 3/4 of the payment back at the end of the period. Watch 2/4, rebate 2/4, etc.
Tracks Applied (3)
Coinbase Smart Wallet
Paymaster and Bundler
Commerce Track
COMMERCE with Shopify
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