Greetings to all the community, today, hours away from the end of the year 2021, perhaps the most spectacular year for the world of cryptocurrencies, beyond the price of these, what really impacts is the fact that the whole world, interested or not, is aware of the value of the decentralized digital economy for humanity.
Considering the above it is important to know those interesting projects in the cryptosphere before involving our money in them, studying their characteristics is essential to generate the income we want to invest in them.
In this opportunity we will talk about Videocoin (VID), but first it is necessary to consider that the following analysis does not represent any form of advice or investment recommendation in this project.
Videocoin is a decentralized video processing network, where users create audiovisual content and generate income through monetization. Likewise, this platform is associated with another project called Filecoin, which is a decentralized storage system based on blockchain,
The reason why Videocoin and Filecoin joined forces is to launch the world's first video marketplace in NFTs. According to Videocoin developers believe that this union with Filecoin will allow content creators in their ecosystem to work on a new means of video ownership and delivery. The real goal is to produce a space where users access the next generation of video applications with the properties of blockchain technology.
Through Filecoin's support, Videocoin expects to make use of its partner's more than 4.6 billion gigabytes of storage capacity across its global community. This allows users to count on the system's storage capacity, which exceeds 1.3 billion 1080p high-resolution movie files.
Videocoin also sees the Non Fungible Token (NFT) phenomenon as a fundamental piece of the crypto-sphere, an instrument that its developers believe is revolutionizing the way in which digital collectibles are created and traded.
The platform believes that video-based NFTs have great potential and will unleash the most original digital works ever seen.
Providing a video NFT platform will enable video catalog owners to create and exchange original digital works from the world's creative communities, generating new revenue streams.
Likewise VideoCoin wants to build a platform with trusted transactions, without the complexity and inherent expenses of operating on the Ethereum network. Its plan is to create and store Proof of Ownership on its NFT video platform to verify video ownership and origin.
The VideoCoin idea opens doors to new possibilities for NFTs, especially for platforms like NBA Top Shot, the most transacted NFT platform in the market, allows its users to exchange and trade videos of the most iconic plays in the sports league. Videos of NBA plays are referred to as "moments" on Top Shot.
To get a better idea of what this NFT space means to the world's top basketball league, NBS Top Shot generates more than $2.6 million per day in sales. While monthly transaction volume exceeds $150 million.
The native token of this platform is VID and it is the asset with which earnings and transactions are managed in the system. As of today its value is around USD 0.3625, likewise the total supply of the VID token is 265,000,000 of which 158,737,899 are circulating.
