Claiming to be ‘redefining’ digital entertainment with Xfinite is launching a next-generation on-demand digital platform that aims to harnesses blockchain to create a what it calls is a free, decentralised, democratic infrastructure.
In Xfinite's view, the provision of entertainment-based content is currently characterised by market fragmentation and competitive and structural restrictions that inhibit consumer access and choice. It asks why should it be that consumers require multiple subscriptions to access the range of TV shows they really want to watch.
The new platform will offer users free content encompassing films, TV shows, sports, games and other entertainment, and will grant, said the company, potentially significant advantages for producers and brands. Xfinite believes that the platform’s blockchain base better meets the viewing trends of today’s digital content consumers while addressing limitations in current media production and distribution models.
Specifically, it believes that the industry’s current cost barriers are fuelling piracy and illegal file sharing, so that content producers aren’t properly compensated, and the market is funded by advertising that is increasingly being ignored or blocked by its target consumers. Brands are craving a more direct, insight-rich and effective relationship with viewers of their ads.
The new platform’s proof protocols are designed to make it possible to accurately track usage and watch rates, deliver real-time engagement data, and reward users for watching and participating. Through its platform, Xfinite aim to deliver proper compensation to content owners, greater insight to brands and real utility and choice to users, while removing the incentive for piracy.
Xfinite is in discussions to enter into strategic licencing agreements with what it calls market-leading entertainment producers, in order to provide its community with access to a broad range of exclusive, premium content from day one. It will initially target consumers in Asia and the Middle East, where it says there is a high growth rate of smartphone adoption, combined with faster and broader internet availability, is behind the dramatic increase in consumption of streaming media content.
“Our goal is to make premium, exclusive content freely available for everyone, which we will seek to do by redefining the relationship between content producers, brands and viewers,” commented Xfinite chief strategy officer Mario Alberto Casiraghi. “By creating a mutually beneficial system, we will give users a better experience, brands more effective data, and content producers the ability to get appropriately compensated for their work.”
Xfinite is considering taking advantage of Malta´s new blockchain legal framework that allows companies like itself to operate in a regulated environment, establishing a presence in the country. It is working closely with legal advisors and other local parties to develop an appropriate corporate framework.