RITESTREAM+ Streaming platform Explained
RITESTREAM+ is a streaming platform with unique free-to-watch content based on a Freemium model where 40% of in-content ads revenues are shared with watchers. These earning are equally shared in two ways:
- Watch-to-Earn (W2E)
- Watch-to-Win (W2W)
The other ad income goes to the Creators/Content owners (40%) and the Platform (20%).
(Side-step: notice that 5% of the Platform income is also used to burn $RITE tokens… and as 5% of 20% equals 1%, you can conclude that 1% of total ad income is used to buyback tokens and burn them)
Watch-to-Earn $RITE tokens
Although everyone can watch the content for free… to ensure the W2E rewards, you need to be logged in. Therefore, you have to register first, and that’s very easy.
Just click on the Register or Login Button and follow the steps.
You can either connect via your email address, preferred social login, or you can connect your wallet.
But I don’t have a wallet…
No worries, if you use your email address or social login, your (first) new wallet is automatically created for you by Particle Network. This (Particle) wallet is automatically connected to your email address, and next time you log in, you can use the same email address again.
This process is called Wallet Abstraction, and they call it WaaS (Wallet as a Service)
Why do you need a wallet?
Simple, because you earn $RITE tokens, and you want these in your crypto wallet.
BTW, this is the logo of Particle Network/Wallet. It’s a sign that you are logged in (just as you can see in the top menu on the right), and by clicking on the icon, you’ll open up your wallet.
During the onboarding process, you will be prompted to provide basic information for your user profiles, such as preferred username and avatar. Additionally, you will be asked to specify your content preferences, including categories (movies, documentaries, series, etc) and genres (comedy, drama, crime, etc). This data will be used to personalize your user experience and provide tailored content recommendations.
While the initial recommendations will be based on these initial preferences, RITESTREAM+ plans to leverage AI and machine learning to refine and personalize the viewing experience further as the platform grows and the user base expands.
For now, you’ll get a “dynamic” amount in $RITE for each ad you have fully viewed. For the first reward distribution for the combined period October/November 2024 period and for the month December 2024, you got $0.033 paid out in $RITE for each (fully) watched ad. This amount per ad viewed is subject to change and is determined by actual ad income from the platform.
There is a counter in your profile that shows how many ads you have seen so far since the start of the month. Each month the counter starts at zero after your $RITE rewards were “assigned” to you. This “conversion” from “counts” into $RITE happens, for now, once a month in the first week of the new month when the $RITE rewards for W2E and W2W are automatically being airdropped inside your wallet.
So, it’s a very simple process. Just watch and earn.
For Q4, 2024, each viewed ad equates to $0.033 worth of $RITE, although this value will fluctuate over time based on the CPM (cost per mille) the team will get on 1,000 ads served..
Rewards are currently being distributed on the BNB chain, but in near future on Base chain.
Keeping up the dream alive…
Just think about it… the current $RITE token price is between 1 and 1.5 cents… and you get just above 2-3 RITE per viewed ad… but what happens if the $RITE token price is multiplying 100x or more…
You won’t earn a few cents for each ad viewed… but a few dollars for each ad viewed…
So, by watching a single movie (for free), you can earn up to 10 bucks… with just a little bit of patience and holding your $RITE to sell at the proper moment.
That’s why our CEO “is dancing and singing”… the price is RITE.
Watch-to-win Prizes
For each ad (fully) viewed, you get a “lottery ticket” that gives you the chance to win one of the prizes in the monthly pool. The more ads viewed… the higher your chance.
At the start of each moment the pool amount is announced until the actual ad revenues (the 20% part) will exceed this amount. Of course, from that moment, the higher actual dollar amount will be used each month to pay out the W2W rewards.
How will the lottery take place?
For the first month(s), the lottery takes place manually (behind the scenes).
However, in the future, the lotteries will be automated, visible and on-chain.
Then the size of the lottery pot will also be visible real-time – remember, with every ad viewed the pot will increase.
Again very simple, and you don’t have to anything else as just watching the content.
Read more to see the lucky winner wallets for the first October-November 2024 prize pool:
https://www.ritestream.io/news/watch-to-win-december-lottery
Note: the first distribution was a combined one for 2 months (October and November 2024) each with $5,000 pool prize. For December 2024, the pool was increased to $6,000 and for January 2025 it’s again $6,000.
Winners for December 2024 were announced here… https://www.ritestream.io/news/watch-to-win-december-lottery.
Roadmap Q1, 2025
Source: Ritestream+ Product Roadmap for Q1
- World-class UI: A sleek, modern design prioritises ease of navigation and a more intuitive user experience. Expect a visually stunning interface that enhances content discovery.
- Effortless Onboarding: Simplifying wallet creation and token interactions, making it effortless for Web2 users to enter the exciting world of Web3 rewards. This has already been implemented. Read this article that explains it all… https://www.ritestream.io/news/effortless-onboarding-web-3-made-easy.
- User Dashboard: Users can curate their viewing experience with personalised settings, track their watch history, and access exclusive $RITE rewards based on their engagement.
- On-Chain Watch-to-Earn: This will be seamlessly integrated into the UI with clear visual cues, leaderboards and on-chain tracking of $RITE token rewards, thereby encouraging engagement.
- On-Chain Watch-to-Win: This will be brought on-chain, ensuring fairness and verifiable results. Users can take gamified steps to increase their lottery chances, thereby encouraging activity.
- Virality-driven Referrals: The referral program will be streamlined and integrated into our lottery. A successful referral increases the chance of winning, thereby encouraging virality.
- Integrated Crypto Wallet: A user-friendly in-app crypto wallet to easily manage $RITE tokens, view transaction history, and explore other opportunities within our ecosystem.
- Content, Content and Content. As revenue streams grow, we will expand our content library. This strategic investment will ensure a diverse and constantly evolving catalogue.
- Third Party Ads: Integration with ad marketplaces will make us revenue-generating and watch-to-earn/win wholly sustainable. Both are key levers for further scaling up.
As Martijn, CPO, explains…
These enhancements will significantly improve the user experience and solidify Ritestream+ as a leading platform in the Web3 entertainment space through significant growth.
Furthermore, they enable the development of a mobile app, OTT apps, the Popcorn Collective, and our crowdfunding platform for movies/shows in subsequent quarters.
The streaming platform UI/UX
For now, the platform is very “basic”. The platform started in October 2024 with a “soft launch”. The UI/UX (user interface/user experience) will improve and more and more features will be added over time.
Watch the new trailer about how it will look like soon.
NEW RITESTREAM+ TRAILER
The video above is a sneak peek of the concept art for the redesigned streaming platform. It’s not just a visual overhaul; it’s a complete transformation. It will have a sleek, modern design that rivals the biggest streaming platforms.
And the User Profile will improve significantly as you can see in this demo below…
What kind of free-to-watch content?
Most of the content will be offered via Allrites.
RITESTREAM+ is backed by sister company, Allrites. Allrites holds licenses for a massive 140,000+ hours of film & TV content across 80+ genres, giving unparalleled access to a vast catalog of popular movies and shows. You can already dive into some of this incredible library, enjoying high-quality entertainment… but much more to come.
Content Flywheel
This is how the content flywheel works…
The more content is watched on the platform, the more content will be added.
You know, the more platform users and watched content, the higher the “guarantee” that new content will also be watched by sufficient viewers such that the creators/content providers know upfront that they earn sufficient revenues, and are more eager to offer the content to the platform (as content distributors select the best platforms with the highest income).
That’s on flywheel, the other one is related, and works like this…
The more content is watched on the platform, the higher the ad income, the higher the W2W prize pool, the more interesting to watch and win… the more content is watched… etc.
Also, the idea is, of course, to add more and more unique content funded and made possible via the TV & Film Crowdfunding platform.
Also, notice that the platform is first focused on English-spoken content (and transcription)… later other languages support will follow.
But don’t be afraid about the content “quality” and “supply”… the RITE team knows what to do, and has the backup of allrites.
The idea is to add Premium content later. This may be in the form of Pay-per-View where you pay (with the $RITE token) for each selected Premium content item that you want to watch. And/or in the form of a monthly subscription fee that allows you to see all Premium content.
The Premium content is ad-free.
Specific Premium content may also only be available for $RITE stakers.
Boosters to increase your chance to win the Pool prize
In the near future, it will be possible to purchase Booster packages that increase your chance to win the pool prize.
The boosters can be paid with $RITE. So, platform users who earned $RITE via W2E can use their $RITE to buy Boosters.
Also in the near future, $RITE stakers will get Boosters. Probably based on the principle the more you stake the more Boosters, but details will follow.
Finally, by referring others to the streaming platform, the referrer also gets Boosters.
Engage-to-Earn
Later the team will look at other ways to reward user engagement with $RITE tokens and/or other prizes (such as collectibles or NFTs).
Think about engagement such as:
- Hosting watch parties.
- Inviting friends (referral system).
- Social sharing.
- Review rewards.
- Amplifying content distribution.
- Gamification rewards (batches and leaderboard).
Devices and Apps support
The idea is to expand as follow:
- First Android & iOS native mobile Apps.
- Expand further via fully-branded OTT (Over The Top) Apps such as Apple TV, ROKU, (Amazon) Prime.
- Expand reach by integrating in social media platforms as X.
Metaverse and streaming
In the past, RITE had already announced some partnerships with Metaverse partners.
The developments with these partnerships were kind of “halted”, but after the soft launch in October 2024 of the new streaming platform… I expect that the contacts will be renewed and that, sooner or later, it will be possible to watch the streaming platform content in the Metaverse as well.
Just imagine, you walking in the “Metaverse” visiting a “Movie Theater” while watching movies and films together with your (virtual) friends eating popcorn and connect with the producer(s) or cast.
Ad types and Ad platform
Type of ads:
The used commercials are Instream video ads (pre-roll and mid-roll ads), personalized and selected by the AdButler built-in API, and Smaato Ad platform.
Ad Networks:
The first ads shown in the soft launch upstart phase were “own” ads either promoting the CK show, or one of the CK projects (what a cross-marketing example!).
Soon, if traffic and views increase (target 50K ads per day), as expected Mid January 2025, Smaato will be used to monetize the platform.
Smaato is a well-known Ad Platform that can handle lots of views, sufficient to scale up Ritestream+ in to the (tens of) millions of daily users. It believes in the quality of the Ritestream+ platform users, and has (contractual) agreed to pay a relatively high Revenue Per Mille (RPM). A metric that represents how much money you’ve earned per 1,000 video views).
So, that’s awesome as the more ad income, the higher the $RITE earned per view… and the more interest in the streaming platform… and the higher the Platform income (and the higher the $RITE burns).
Speaking about $RITE…
Tokenomics streaming platform
As both the W2E and W2W rewards are paid out in $RITE, and the ad income is received in (fiat) dollars.
So, although at the start, the RITE team may use “some” $RITE from the marketing “pool” (allocated in the Whitepaper)… in the end… to pay out the $RITE rewards over time, these $RITE tokens have to be bought on the open market…
This is “huge” as it causes a constant $RITE token buying pressure… and the more ads are shown… the higher the $RITE rewards and purchases on the market.
But yeah you may think… claimed/received $RITE may be sold immediately by the platform user, and if everyone is immediately selling their tokens… the buy pressure and sell pressure will be the same… and no upwards price effect will happen.
But think about it…
If you receive some $RITE once a month… are you really immediately going to sell them?
First, it depends how much the tokens are worth and what you expect the token price to do.
If the related dollar amount is relatively small (and that’s the case unless you watched thousand hours of content), you may think…
- I will first accumulate more $RITE to achieve a certain $RITE amount and/or dollar value, for example to watch Premium content (Pay-per-View).
- I will wait until the $RITE token price appreciates further.
- What else can I do with my $RITE tokens?
Well, let’s answer that last question…
Soon, besides paying for Premium content, it will be possible to use your $RITE to purchase Watch-to-Win Booster packages.
These Booster packages increase your chance to win prizes in the Watch-to-Win pool.
So, that’s why I expect many to take the opportunity and use their earned $RITE to boost their chances.
BTW, it’s in the planning to reward $RITE stakers with these W2W Boosters as well. So, increasing the staking benefits… which is of course positive for the tokenomics.
Also, if you have $RITE all in a sudden… you are going to “investigate” the tokenomics and maybe get interested in buying and/or staking $RITE for purposes outside the streaming platform.
Hence, sufficient reasons to “assume” that there will be “friction”, i.e. people holding the token for a longer period instead of immediately selling their earned rewards.
So, as a result, thousands of (new) streaming platform users will earn (a small) amount of $RITE tokens each month (or later even weekly).
This will result in a huge boost of new wallet holders and significantly broader distribution of the $RITE token.
This alone is very positive for the tokenomics.
To summarize…
The initial buy pressure from the open buys… followed by increased $RITE usages as utility (Booster and Premium content purchases) will lead to increased token velocity, more transaction volumes, better liquidity… and ultimately token price appreciation.
Furthermore, it’s important to know that…
The $RITE rewards are paid out on the Base Chain (in near future, currently for first months still on the BNB chain).
That’s perfect as Base had even lower gas fees in comparison to BNB chain, and with respect to micro-payments… a small gas fee in dollar cents may be a relatively percentage of the micro-payment. So, you better pay a fraction of a dollar cent instead of a few dollar cents as gas fee.
But the Base Chain also opens up a lot of new opportunities as many other “projects” have X2E (Activity X to Earn). Think about:
- Tap to Earn
- Play to Earn
- Search to Earn
- Engage to Earn
- Move/Fitness to Earn
- Share computer bandwidth (GPU) to Earn, aka DePIN
- Validate to Earn (node running)
- Share personal data to Earn (SociFi)
- and what else?
Most will have an API service where the team can add the $RITE token as reward.
And if you can combine these X2E activities and you can earn more $RITE… all separate activities are more interesting… and everyone wins… the earners, and the projects.
Some examples by just looking at the 20 CryptoKnight projects for season 1…
- GNUS AI and KOII Network. DePIN. Share GPU while watching videos (on demand).
- GFIT. Fitness to Earn.
- PlayEmber and Pentagon Games. Play to Earn.
- Bluwhale. Share personal data to Earn.
Just look at this video from the Founder of Playember, Jon Cooks, who uses the same recurring revenue model…
Earn tokens while playing games by sharing ad income revenues for the ads shown while playing.
Anyway, you get the idea.
And think about the extra interest and awareness from all other websites and communities who inform their followers about the “best” X2E options. Like this one…
We're thrilled to partner with Chirpley to get the word out about our #watchtoearn streaming platform via their platform which lets us access 10,000s of influencers. https://t.co/wE1ljOSR6c
— ritestream (@ritestream_io) November 13, 2024
What about the growth so far?
The platform went live Mid October 2024… what’s the status as per January 10, 2025?
As you can see in the image below, the weekly growth was astonishing in the first weeks.
Update as per January 10, 2025… the daily ad views are around 50,000, and the team is adding the premium ad network. Read below for the latest status update by Martijn, CPO.
Over the last few months we stood up a streaming platform that is infinitely scalable, together with an industry leading ad-serving platform that manages, serves and tracks the video ads. So far, we’ve used the latter mostly for serving our internal ads, as we had to get enough ads / day before we could speak to ad marketplaces.
Our ad views have exploded so much, that now one of the largest ad marketplaces in the world wants to integrate with us. For reference, they serve 8,600+ billion (!!!) ads and 2,230+ billion (!!!) video ads every single month.
What it means though is that once ads are flowing, we are revenue generating. With revenue, we can start shifting to not just building, but also to scaling up – more users, more eyeballs, and more content. It also means that our watch-to-earn/win mechanics will be wholly sustainable, which is incredibly rare in Web3.
How many Web3 projects went from nothing to revenue generating in 3 months?
What about the marketing?
So far, the team started these activities in October-November 2024…
3 weeks AMA Boost Marketing Campaign
The purpose was to engage with new communities via AMAs trying to reach 1 million members.
Referral Program
The referral program will start simple. The more “friends” you refer (and who will use the platform), the higher your chance to win in the monthly lottery.
Later this referral program will be more advanced with (possible) rewards in $RITE or other forms of rewards (more secure referral “income”, not dependent on “luck”).
Other marketing campaigns
As explained above, the X-to-Earn communities are perfect “candidates” for marketing. These are the people who like to earn tokens, no matter what they have to do…
However, the marketing focus will also on “content lovers”, and people in Web2 who want to watch the content for free.
A recent example is the 5 days of Christmas campaign.
The good part is that the team is prepared as they spent a lot of time on setting up the back-end integrations for ad analytics. So, that once they start firing up paid ads on social media, they know exactly what ads give the best ROI and how to drive people to the platform.
Of course, many new marketing campaigns will follow… this is just the start. Stay tuned.
Cross-Marketing CryptoKnights and RITESTREAM+
The team is working on adding the CryptoKnights trailer and all the “Meet the Disruptor” videos of the projects on RITESTREAM+.
Also, if Smaato doesn’t fulfill an ad request, the user will see an “internal” ad. This may be video commercials promoting the CK and/or featured Projects.
Needless to say, all the episodes of the CK Show will be on RITESTREAM+ as well.
And think about it… when “live”… what will Projects, Hosts, Knights, and KOLs do?
They will stimulate their “followers” to watch the CK Show episode(s) on RITESTREAM+.
Or in case of a CK Launchpad sale… these “partners” will “promote” the sale to their followers.
How large is the Advertising Video-on-Demand (AVoD) market?
The TV and Video market (as part of the Media market) is divided into:
- Traditional TV & Home Video ($385 billion worldwide)
- OTT Video (Over-The-Top) ($316 billion)
And the OTT Video market is divided into:
- Subscription Video on Demand (SVoD), aka Video Streaming ($109 billion)
- Pay-per-View (TVoD) ($11 billion)
- Video Downloads (EST) ($6 billion)
- OTT Video Advertising ($191 billion)
- Free ad-supported streaming TV (FAST) ($10 billion)
- Advertising Video-on-Demand (AVoD) ($48 billion)
For now, we just look at the AVoD market…
Definition: AVoD (Advertising-based Video on Demand) refers to the practice of offering video content to viewers for free, with advertisements inserted into the content as a way of monetizing it. AVoD platforms can include streaming services, video sharing sites, and other digital platforms that offer free video content. AVoD advertising can take different forms, including pre-roll ads that play before the content, mid-roll ads that play during the content, and post-roll ads that play after the content.
Highlights of Global AVoD market:
- Revenue in the Advertising Video-on-Demand (AVoD) market market worldwide is projected to reach $48.32 billion in 2024.
- Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 8.09%, leading to a projected market volume of $71.31 billion by 2029.
- In the worldwide Advertising Video-on-Demand (AVoD) market market, the number of users is anticipated to reach 4.9 billion users by 2029.
- User penetration is expected to be 50.6% in 2024 and is forecasted to increase to 61.0% by 2029.
- In a global context, the majority of revenue will be generated the United States, which is projected to account for $24,25 billion in 2024.
- The average revenue per user (ARPU) Worldwide Advertising Video-on-Demand (AVoD) market market is expected to be $12.33 in 2024.
- The global AVoD market is witnessing a surge in demand as consumers increasingly prefer ad-supported streaming options over traditional subscription models.
So, above was all taken from statista.com data. Now let’s look at another data source…
Here, the base for expected 2024 revenue is about the same 49.04 billion vs 48.32 billion as expected by Statista… but what’s interesting is to see the huge difference in CAGR projections.
The global advertising-based video on demand market size was estimated at USD 49.04 billion in 2024 and is expected to grow at a CAGR of 29.2% from 2025 to 2030. AVOD services are gaining popularity, particularly as more subscription-based on-demand services proliferate and take up a substantial share of consumers’ budgets. Advertising-based video on demand (AVOD) platforms leverage analytics of user activity as well as device specifications and capabilities to target advertisements to viewers. Because publishers may utilize user activity data to customize ad targeting, marketers are becoming more interested in AVOD services. AVOD platforms can use user activity analytics to provide tailored advertising that boosts conversion rates and ROI for advertisers.
Some other remarks from Grand View Research…
Target Audience
Customers who are willing to watch advertising in exchange for free material are the target audience for Advertising-based video on demand (AVOD) providers. The absence of advertisements in the model is understandably appealing to consumers who have become accustomed to fast service and are willing to pay for convenience. YouTube is a prime example of an AVOD media service where content producers can upload original content to YouTube’s servers and monetize their work with adverts. One significant challenge AVOD services face is balancing the number of adverts and the user experience. Too many advertisements or advertisements that are not relevant to the user may turn them off. Some advertising-based video on demand systems allow consumers to comment on the advertisements they watch, click a button to skip an intrusive ad, or respond to a survey question in its place.
Advertising-based video on demand (AVOD) platforms analyze user engagement and behavior analytics, revenue, and conversion rates to determine the efficacy of tailored advertising. In addition to audience reach, preferences, demographics, user activity and engagement metrics, and income, AVOD service providers can collect data from everything on their platforms. Service providers can enhance user suggestions and ad targeting, promote engagement, and optimize revenue production by analyzing AVOD data with the appropriate software solutions. In order to gauge the success of tailored commercials, AVOD systems can also track ad impressions, clicks, and conversions. These analytics allow AVOD platforms to identify the most successful advertising and modify their targeting tactics accordingly.
Advertisement Position Insights
Based on advertisement position, the market is classified into pre-roll, mid-roll, and post-roll. The mid-roll advertisement position segment dominated the overall market, gaining a market share of 49.1% in 2024. Mid-roll advertising is placed in the middle of a video or audio clip, frequently interrupting the viewer’s or listener’s experience. Additionally, a mid-roll advertisement’s position might vary based on the platform and content format. Moreover, mid-roll adverts on online video platforms such as YouTube are often put at regular intervals, such as every five minutes or at specified timestamps defined by the content provider. This maintains a balance between keeping viewer interest and allowing advertising to reach their intended group.
The pre-roll advertisement position segment is anticipated to grow with the fastest CAGR of 30.6% throughout the forecast period. Pre-roll advertising appears before the main video or audio content begins. Additionally, this advertising is widespread in online video platforms, streaming services, and podcasts. Pre-roll advertising appears at the start of the content and is usually played automatically before the viewer or listener can access the desired content. Furthermore, pre-roll commercials can run for various lengths, but they are often kept brief to minimize disturbance to the user experience. Pre-roll ad lengths can range from a few seconds to a minute, with 15 to 30 seconds being the most popular. The main aim of this sort of advertisement position is to create a favorable balance between generating ad revenue and maintaining a positive user experience.
So, this is a huge $50B+ market and still growing whether with 8% or 29% CAGR for the coming years, time will tell…
Just think what may happen if RITESTREAM+ may get a 1% market share?
But in the end… it’s all about user experiences and the quality and uniqueness of the offered content. Luckily RITE can easily get access to the Allrites portfolio and marketplace.
Suggested reading…