In a previous post we detailed the goals of the project and here we will take a look at each area in detail and show our proposed project milestones.
Note: this is pretty much an extract from our proposal so some of the milestones will be based on our timelines last Aug - we'll find out in the Grant report whether those slipped (spoilers, they did)
We received the grant to work on four main areas; integration of technology, development of the Peerkat platform, a user research project and promoting the technology through educational materials via the various marketing channels.
Our project leverages Web Monetization technology in the following ways:
1) Connecting live streaming content to Web Monetisation, allowing us to provide ad-free live streams for Coil users (and other future Web Monetization providers)
2) Enabling tipping capabilities by utilising the XRP Tipbot and supporting their integration with Uphold wallet
3) Pooling and revenue sharing by adopting a probabilistic model for content revenue. This will be accomplished by Vivid collecting 25% of streamed revenue and redistributing it to other users in the value chain such as content requesters, top social sharers and moderators. This incentivises usage of the platform, engagement and discoverability for creators. The remaining share will go directly to the creator, a 1.5x increase in their earning power when compared to incumbent live stream platforms.
- Integrate XRP tipbot, gather technical information about ILP and advertising implementation
- Work with ILP testing various ways to serve ads to non web monetized users
- Create, user test and iterate prototyped solution for serving ads with a number of users from each target group. Build out once acceptance criteria are passed through defining wireframes for user journeys (happy/unhappy paths) and accessibility requirements.
- Finalise the freemium module and release to developers, begin design and development on redistribution of payments
- Gather feedback from developers and improve on freemium module, Implement first iterations of redistribution model
- Finalise redistribution module, release to user and developers for testing
- Make any improvements, fix bugs based on testing
Live video streaming has become a highly intermediated, costly operation that bombards viewers with adverts and clickbait, tracking users and selling their data, and takes huge fees out of the revenue content creators work so hard to generate. While some high profile influencers are making large amounts of money, for the majority of channels it is extremely hard to make a living and they fear being demonetised or deplatformed by algorithm changes.
Peerkat is disrupting incumbents by giving more power to users and cutting out unnecessary middlemen. Using peer-to-peer video streaming and blockchain-based technologies, we both facilitate streaming and transactions directly between users without the need for ads, and create new income opportunities with a toolkit for streamers e.g. ecommerce and collectables. With progressive decentralisation, Peerkat aims to become fully community-owned, allowing users to vote on platform changes and direction.
- Define and develop MVP for all tiers of service, incl. Digital analytic requirements and onboard initial testers (whilst grouping them into target user groups and profiles in accordance to GDPR)
- Collect feedback from alpha testers and fix bugs, develop additional features, work on integration with Uphold Wallet
- Enhance user profile page (based on qual/quant data) and integrate social features
- Optimise onboarding process to streamline user acquisition including referral mechanism
- Integrate freemium module into platform for further usability testing, add UI elements to improve UX
- Test and implement gamification of platform with user voting
- Develop task and reward system in app to entice continued use
An important element of our work is to promote the web monetization ecosystem, and we intend to do this through partners, content and our user experience work.
- Establish partnerships with key supporters
- Create content plan for following 6 months, release one podcast and two educational blogs
- Run workshops for user experience, release one podcast and two educational blog
- Collate and synthesise findings from user experience workshop and share with ecosystem by publishing findings, release one podcast and two educational blogs, plan Christmas content competition
- Run Christmas content competition, plan new year grant giveaways. Optimise content distribution channels, release one podcast and two educational blogs
- Release one podcast and two educational blogs, distribute grant giveaways, Web Monetization webinar by Ike Iwumene
- Release one podcast and two educational blogs, content creation & distribution webinar
The final element of our proposal is to gather insight into target user groups for Web Monetization and develop inclusive personas from which to tailor our content strategy.
- Secondary research and synthesise into themes to identify gaps in knowledge for primary research of target user groups.
- Design primary research based on what we want to learn from secondary research using quantitative user feedback from MVP (survey) and qualitative (user interviews), to understand user acceptance and additional needs/features. Synthesise insight to deliver opportunities for the project team by personas. Create e2e service design for user target groups (and product operations) to formulate requirements to build out e2e service from 1. 1. 3. Discovery through to Account Management.
- Plan, design and conduct user tests for web monetization
- Plan, design and conduct tests
That’s it for an introduction to our project. We are aiming to release our first grant progress report next Friday (we had to move this to next week due to unforeseen circumstances, apologies!).
We would love to hear from you, please do not hesitate to get in touch in the comments or message us.
If that sounds good please hit the follow button under our company name, like, unicorn?! or bookmark the post. And if you share it on socials please tag us and we will amplify the post.
🔔 SUBSCRIBE TO OUR PODCAST JUST A MEME (WEB MONETIZATION SERIES WITH MANY GFTW GRANTEES)👇
Youtube ► https://www.youtube.com/channel/UC8ZTuv8TBOwtKC9YPRTU7Mw
Anchor ► https://anchor.fm/justameme
Spotify ► https://open.spotify.com/show/6paW4soTSgl2jJWv31RPqz
🗣️ FOLLOW VIVID IOV LABS ON SOCIAL MEDIA 👇
🗣️ FOLLOW PEERKAT ON SOCIAL MEDIA 👇
🤔 ABOUT JAM PODCAST 😃
My name is Greg Hannam and I am the commercial lead at Vivid IoV Labs. We are a team of 8 working on building next gen apps and helping to create a more inclusive internet by leveraging micropayments and other web 3 technologies.
This mission has led us to start this podcast so we can interview the best and brightest in the web 3.0 space, raise the profile of lesser known content creators and all with a focus on building and using better business models for the internet.
🤔 ABOUT VIVID IOV LABS 😃
The startup formed from the winning team of UCL and Ripple’s Block-Sprint 2019. Vivid IoV Labs are focused on consumer-facing applications of micropayments and creating a more inclusive internet by leveraging web 3 technologies.
Website ► https://www.vividiov.com/