THEVID | Devpost

Project: Decentralized Theta Video Sharing Platform (THEVID)

Inspiration

The rise of decentralized technologies and the limitations of traditional, centralized video platforms inspired us to create THEVID. We envisioned a platform where users have full control over their content, privacy, and rewards. By leveraging the Theta Video API and blockchain technology, we aim to revolutionize how videos are shared and consumed.

What it does

THEVID allows users to:

Upload, share, and watch videos.
Play games integrated within the platform.
Earn rewards in the form of Native Video Tokens (NVT) for various interactions like watching videos, uploading content, linking social media accounts, and participating in games.
Use NVT for minting NFTs, covering gas fees, gifting, sending, receiving, and transferring tokens.

How we built it

Frontend: Built with React, leveraging components like VideoCard and Leaderboard for a seamless user interface.
Backend: Developed using Node.js and Express to handle video data, user interactions, and tokenomics logic.
Smart Contracts: Deployed on the Theta blockchain, including contracts for video uploads, rewards distribution, and NFT minting.
Blockchain Integration: Used Web3.js for interacting with smart contracts and the Theta network.
Tokenomics: Implemented a custom TNT20 token (NVT) with features like minting, mining, ownership transfer, and gas fee coverage.

Challenges we ran into

Integrating with the Theta Video API and ensuring smooth video uploads and streaming.
Designing a robust tokenomics model that balances rewards and gas fee coverage.
Handling blockchain interactions and ensuring the security and efficiency of smart contracts.
Creating a responsive and user-friendly interface that meets the standards of decentralized platforms.

Accomplishments that we're proud of

Successfully deploying a fully functional decentralized video-sharing platform.
Implementing a comprehensive reward system that incentivizes user engagement.
Achieving seamless integration between the frontend, backend, and blockchain components.
Developing a scalable and secure tokenomics model with our custom TNT20 token (NVT).

What we learned

The importance of user-centric design in creating engaging decentralized applications.
Best practices for integrating blockchain technology with traditional web development.
Challenges and solutions for implementing decentralized video delivery and storage.
Effective strategies for tokenomics and incentive models in blockchain projects.

What's next for THEVID

Feature Expansion: Introduce more interactive features like live streaming and video comments.
Enhanced Gamification: Develop more games and interactive tasks for earning rewards.
Mobile App: Launch a mobile version of THEVID for iOS and Android.
Community Building: Foster a strong user community through social media integration and community-driven content.
Partnerships: Collaborate with other blockchain projects and platforms to give airdrops and enhance the ecosystem and user experience.