TOK.TV revolutionizes the television industry by using blockchain
TOK.tv, the social network for sports fans, which has more than thirty million users around the world, is already working on the construction of future television on the blockchain. This new TV enables the direct relationship of the audience with its fans, protects the copyright of piracy, avoids false advertising clicks, provides a direct relationship between content creators and brands and facilitates the fractional purchase of spaces, thanks to micropayments.
Fabrizio Capobianco, CEO of TOK.tv, explained to BlockchainMedia that if television wants to survive it must stop being a box in the living room and be social. This company, based in San Francisco, allows its users to live the excitement that is breathed in the sports stadiums and share it with fans around the world, from the sofa of their homes or wherever they are. His bet to watch sports while using the features of a social network, turned into an unbeatable relationship with the great soccer teams of the world, according to Capobianco. For example, fans of Real Madrid, Barcelona, Juventus or Paris-Saint Germain can share the day to day of what their idols do, despite being separated by thousands of kilometers away.
Capobianco indicates that the goal of TOK.tv, founded in 2012, is to build the best sports experience for its members. "Watching sports on TV is in often a lonely experience for the fans. If you ever watch a match alone, you know it is depressing to yell at the TV by yourself. The TOK.tv social platform gives users back the emotion of watching TV together even if your friends are far away. We have a community of thirty million users and we are taking them to blockchain to enable the birth of future social television. We want to build a massive television platform and a community around it."
Buy tokens to chat with a famous player
Regarding the benefits that tokenization brings to the user community of TOK.tv, Fabrizio explains to BlockchainMedia that "So far, we have given fans the ability to talk with their friends while they watch TV. It is a "second screen" experience, with the match being on a TV, and the voice chatting through a mobile device. Now, we are giving them TV itself. They can watch in the app and talk while they watch, buy the right to watch any sport with micropayments, whether it is the full game or just one highlight. With the same token, they can bet against their friends (online betting is now legal in the US!). They can buy collectibles (e.g. the card of a player) and even spend tokens to chat with a celebrity player."
The bet of TOK.tv for a social television on the blockchain arises in a moment in which the industry of the cable TV falls apart. In the United States alone, cable TV operators have lost 3.4 million customers since 2012, according to the latest data released by Leichtman Research Group, a firm specialized n broadband research, analysis, media and industry. of entertainment.
Although the report of Leichtman indicates that during the first quarter of this year the losses of subscribers were of 305,000, against the half million that were registered during the same period of the previous year, it is expected that the figures will increase during the second quarter of the year, coinciding with the vacations of the university students. The main argument of users to unsubscribe from cable television is that the service does not correspond to the high price they pay for it, compared to other cheaper and better alternatives.
In this sense, Leichtman also details in another study that adults between 18 and 34 years old represent 53 percent of adults in the United States and that this age group has internet transmission services for Sling TV, DirecTV Now, PlayStation Vue, Hulu with Live TV or YouTube. Leichtman also stresses that 11% of adults aged 18 to 44 years old subscribe to online pay television services, compared to 3% of those aged 45 and over.
Leichtman also notes that among all those who have an Internet pay television service, 93% also have a subscription to video on demand from Netflix, Amazon Prime or Hulu. In addition, 49% of Internet pay TV subscribers have a TV antenna to watch over-the-air transmissions, and 35% have a pay-TV service from a traditional provider: cable, satellite or telecommunications.
Cable TV: $ 50 per month for buying useless channels
The new trends in television consumption which prove researches like the one done by Leichtman, are one of the arguments used by Fabrizio to explain the bet of TOK.tv for the tokenization of the platform. "Sports TV is broken. You need to spend $50 per month and buy hundreds of useless channels, just to watch your team play on TV. Fans are "cutting the cord", due to cable TV's high costs and the lack of social engagement."
Fabrizio argues that a blockchain television platform eliminates intermediaries, enabling sports to be affordable through micropayments. "Digital Rights Management is stored in the trusted ledger, thus preventing piracy. The user private data is own by the user, who can decide to "sell" it to advertisers in exchange of free sport (this is not Facebook). All ad views are stored on the blockchain, so there is no risk of click fraud for advertisers," he explains.
About TOK.tv's solution on digital rights management, the CEO of the company indicates that "The rights to watch is in a smart contract, between the fan and its team. That contract is written on the blockchain. It is transparent, immutable and it cannot be modified. Only the owner of the wallet can use that right and watch that match. It eliminates piracy, which is rampant in the sports TV market."
Capobianco explains that "Currently, right holders (team and leagues) sell their rights to middlemen, who then re-package them and sell them to other middlemen. Eventually, fans are forced to buy hundreds of channels just to watch their team on TV. With the Token Television, we are giving rights holder the ability to sell directly to their fans. We want to put them back in control, while enabling a deeper relationship with the fans through social engagement."
Fabrizio underlines to BlockchainMedia that TOK.tv is not Facebook and that in the new blockchain television the ad views are stored in the blockchain, so there is no risk of click fraud for advertisers. "Advertisers do not trust television, because they can not measure the return on investment. Blockchain, in addition to providing privacy for users, prevents click fraud for advertisers "On what the new blockchain television can contribute to brands, the CEO of TOK.tv states that "they can directly communicate with the fans while reaching them while their attention is higher. They can use static and video banners as well as BOT and they can also completely brand the game watching experience using custom sounds and social selfie backgrounds. It is an immersive game experience led by the brands."
Capobianco is convinced that TOK.tv is the television of the future and invites the readers of BlockchainMedia to join the Telegram group of the company.
This article was originally published in Spanish on BlockchainMedia.