ICO Analysis: Viewo

YouTube currently has 1.3 billion users watching more than 5 billion videos daily. They are owned by Google, and appear to be the untouchable powerhouse of video sharing. But no empire lasts forever. In a future token economy, where users get rewarded their fair share for bringing value to a decentralized video sharing platform, YouTube starts to look more and more like Blockbuster Video.

Viewo is a video sharing ecosystem, using blockchain to reward all participants for bringing value to the platform. The Israeli team is creating a custom-built content delivery network (CDN) using cloud computing technology, allowing them to scale unlimited computing and network resources, without the large investment required for traditional data centers servers.

From the company:

“Viewo is using GPU servers combined with our specialist software technology, for live and on-demand video broadcasting. This allows us to deliver content at incredible speeds. The industry calls this Ultra Low Latency Streaming which we like to call Bufferless Instant Video Playback. This allows us to provide the worlds fastest complete solution for high resolution streaming.”

Their servers can switch from GPU to CPU based on streaming needs. According to the company: “We can encode videos on the fly allowing content to play immediately after upload; no more delays like on competitor websites.”

Additionally, “In real time, we can stream live broadcasts with localized ads which are embedded into the video stream and stops popup blockers from removing ads.”

Special Features

Unique private content: A pay-per-view style feature, Viewo will provide content creators the ability to offer their fans and other users unique private content in exchange for VEO Tokens.

MOOPS (Massive open online courses): A popular way to sell knowledge online, similar to Coursera and Udemy, offering expert instructors and courses that include recorded video lectures, certification, discussion forums, and competitive pricing. Students will pay for the courses in VEO Tokens exclusively.

Stores: Ecosystem participants will have the ability to open their own online store to sell products/services related to their video content.

“For example, if someone posts a video series about dog training, they can easily create an online store selling related products such as leashes, collars, eBooks, hard copy books, etc. The only way to purchase these items will be with VEO Tokens.”

Unique algorithms: Used to give preference to videos according to the desires of the community, while at the same time rewarding platform users proportionately for the following:

  • Creating and uploading videos
  • Sharing videos
  • Commenting on and rating videos
  • Moderating the site.
  • Viewing the videos

Token

VEO is a utility token used in the network to reward all participants for their actions and contributions. Earn it by producing content or by watching videos. Its uses are highlighted below:

  • Buy access to private content/videos
  • Join online courses (MOOCs)
  • Increase your own video positioning on the network
  • Purchase items related to video content

Distribution:

  • 28% Crowdsale
  • 51% Ecosystem Distribution
  • 11% Founders/employees
  • 6% Advisors, partners, early supporters
  • 4% Bounty and subcontractors

Use of Proceeds:

  • 40% Marketing
  • 40% Platform Build
  • 2% Legal/Regulatory
  • 15% Operations
  • 1% Business Development
  • 3% Ecosystem Development

Advisors’ tokens will be held at least 3 months from last day of token sale.

Founding team’s tokens will be subject to a 20-month holding period with 5% becoming unlocked per month.

The rest of the unreleased tokens are distributed on a weekly basis to users over a minimum 10 year period.

Team

The team is based in Israel.

Adam Rafael – CEO. He does not list his work history on LinkedIn; instead, he just lists Viewo and his education.

Rani Grinberg – COO. He has been a partner in different forms for several companies; Mexper, Orient Hotel (Tel Aviv), LVC247, Niran Holdings, Yamia Play (Israeli Gaming Platform).

David Price – CTO. He has served as CTO of Akropolis (an active blockchain project with 14 employees listed), has 25 years of experience in software development, design, and architecture. He has worked for large companies such as Merrill Lynch as well as emerging start-ups. He was the Founder of crypto-fuel which holds membership in the Enterprise Ethereum Alliance.

There are 11 decent looking advisors with a variety of expertise.

Apparently, they have also received sponsored support from over 150 of the most popular social media influencers, who have a combined following of millions of fans. This hasn’t been verified, and the only proof they offer is this impossible to make out picture with no names.

Verdict

Viewo looks solid on paper; they have an answer for everything. But there are a lot of holes. For example, they will be using the Ethereum blockchain, which is too expensive and slow for micro-payments. Viewo says they have the solution: “a payment channel technology with integrated wallet, which allows users to complete most of their transactions off-chain, enabling frequent, fast, and free ERC20 micropayments.”  Is this even doable? Show me… Where’s your MVP?

Risks

  • Ethereum based. -2
  • Several blockchain competitors like dtube, Flixxo, Library Credits. -1
  • It will be almost impossible to get people to abandon their YouTube habit. -1
  • All the tokens being earned on a weekly basis is going to cause a lot of constant sell pressure that has proven detrimental to other projects’ token prices. -2
  • Not much hype at all. They grew their Telegram community by offering airdrops, but the actual community doesn’t exist. -2
  • Soft cap of $2 million compared to a hard cap of $112 million just screams MONEY GRAB! -1

Growth Potential

  • It’s a huge market. Stealing just a tiny share of YouTube’s billions of users would be enough to start this fire. +3
  • “Viewo has already teamed up with Peer5, one of the largest and most respected P2P video distribution networks in the world, which will increase the quality of video playback and reduce CDN costs.”+3
  • Some of the funds received will be used to acquire unique high-quality content from top global influencers.+3
  • They will be building a physical studio in Los Angeles where influencers can film their videos.+2
  • “When users earn VEO Tokens from selling private content, 5% of the curator’s earnings revert to the VEO. Token network to be redistributed to users in the ecosystem. This is similar to the models of eBay14, Apple15, and Google Play16 , the difference being that the tokens re-enter the ecosystem to the benefit of the user base.”+2

Disposition

This one has paper potential, but getting in at this ICO price is far too risky. Chances are it will be much cheaper on exchanges a few months from now, and chances are it won’t be worth buying then either. 4/10

Investment Details

Featured image courtesy of Shutterstock. 

Author:
Joshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!