StreamCoin, a blockchain-based protocol that leverages decentralized instruments to change the narrative in the video streaming segment, jumps on the NFT bandwagon. In the coming weeks, video creators will be able to experiment with its feeless tool for turning their content into NFTs.
SRTMNFT marketplace for video NFTs launched by StreamCoin
According to the official announcement shared by the team of StreamCoin, its novel retail product, STRMNFT marketplace for tokenized videos, finally launched on May 31, 2022.
STRMNFT is set to advance existing practices in selling videos as non-fungible tokens (NFTs). Not unlike world-leading NFT marketplaces, StreamCoin’s STRMNFT has moved all of the processes on-chain to ensure maximum transparency.
Technically, STRMNFT is backed by Stream Chain, which is the first mainnet release of StreamCoin. This protocol processes over 300,000 transactions per second.
StreamCoin's CEO Michael Ein Chaybeh stressed that this instrument will be of crucial importance for the migration of content creators from web2 to web3:
As per our approach towards developing an ecosystem from user to tech, we designed STRMNFT to be an easy-to-use marketplace and an open space for all types of users. With our platforms and services, we aim to draw the line between the crypto enthusiasts and the modern Web 2.0 users who have not experienced blockchain or crypto before.
StreamCoin blockchain leverages a high-performance and resource-efficient Delegated Proof of Stake (DDPoS) mechanism, an advanced version of the Proof of Stake (PoS) consensus secured by 21 geographically distributed masternodes.
Free minting program available until July 2022
To ensure the authenticity of every video on the platform, StreamCoin developed its own NFT standard, NSTA_602, that allows it to seamlessly prove the ownership of tokenized videos.
StreamCoin pioneered the Proof of Deed (PoD) method of minting and on-chain verification of NFTs associated with videos. This method makes the entire process straightforward, resource-efficient and low-fee.
To promote its protocol, the StreamCoin team launches a free minting program valid until July 2022. Also, its creators released the Lady Ape NFT collection inspired by world-leading brand Bored Ape Yacht Club. NFTs will be available at discounted prices for the participants of StreamCoin ICO and STRM staking programs.