Media content

Blockchain-based Odysee keeps your social media content online

Odyssey

If you want to upload the video content of your choice and keep it without risk of deletion, the Odysee platform will keep your content on the blockchain permanently.

Established in July 2020, the Odysee video platform has grown its user base since its launch in December 2020. The YouTube-like platform hosts video content on the LBRY network. Unlike YouTube, there are no moderators and no safety filters for young viewers – and the content stays permanently on the blockchain.

People forget – or don’t know that once data has been added to the blockchain, it can no longer be changed or deleted.

Odysee is built on blockchain technology and ensures that its creators’ channels can never be deleted. When a channel is created, it is permanently saved in a distributed ledger on the blockchain.

While that sounds like a great idea, it could have far-reaching consequences for some content creators years down the line, especially as attitudes change over time. Content creators can be stuck with dumb content that they come to really regret as they get older.

Placing video content on the blockchain means that no entity controls it or can alter it, making de-platforming impossible no matter how extreme, violent or fake the content may be.

Odyssee says there are around 300,000 content creators on Odysee who upload a wide range of video content on topics ranging from informative to weird. Users can watch any of the videos for free – unlike other video streaming platforms like Streamanity where the content creator sets the price to watch the videos.

Its December press release indicates that the platform has 8.7 million monthly active users, however, Sitechecker estimates that Odysee.com receives less than 10,000 unique visitors per month to achieve a good result.

Odysee is built using the LBRY protocol which developers use to build applications to interact with content on the LBRY network. The platform’s predecessor, LBRY.TV, has now been retired in favor of Odysee.

When users upload a video, they deposit a minimum amount of LBC (LBRY Credits) starting from 0.01. 0.01 LBC is less than one penny.

Content creators can set an LBC price to watch the video if they want. Fans of the video can also tip the content creator if they like the video. Each video shows the number of credits it has earned for the creator.

The deposit to download ensures that the content is saved on the LBRY blockchain and will become discoverable by other users.

Users must have an Odysee wallet associated with their account, which is visible once they are logged in. They can also use third-party cryptocurrency wallets to store their money.

Revenues vary for content influencers. Odysee says the amount typical influencers earn varies, and creators “earn $100 a month up to $5,000 a month” for their uploads.

LBRY credits are not tied to the price of Bitcoin (BTC), but can be purchased through the app. You can also sell LBC for cash.

Users can upload any video they want – which could lead to discussions about what should and shouldn’t be allowed and regulated – especially as the international conversation on social media regulation grows. .

There are fears that far-right or extremist content will find its permanent home on platforms such as Odysee, with little moderation or takedown.

Odyssey has general guidelines for the community – but its “We don’t care what you post for the most part” comment might encourage posters to push the envelope.

Guideline number 4 says “It’s the Internet, we get it; try not to be overtly abusive and mean to other users. This extends to continued harassment of other users, incitement to slander and defaming other users, and threatening or intimidating other users in the videos.”

Does this mean that users can occasionally harass other users? The guidelines seem to encourage people to cross the line.

Using blockchain gives users and creators more control over their content. Just like in a bar, users must always respect certain conditions such as not inciting violence. Otherwise, they are free to post and engage as they would in a public place.

Odyssey’s alternative to demonetization and deplatforming is delisting, in which a user’s channel and content remains, but cannot be discovered using search, navigation or other tools. This allows content to continue to be shared as desired.

Users can issue a command to delete their own content. Odysée reserves the right to remove extremist or troublesome users from the list. However, the content is not removed from the LBRY network, only from Odysee.

There is certainly a lot of interesting content on the platform – along with the usual conspiracy theories and parody stories.

Top accounts have hundreds of thousands of support credits, while other less compelling and downright stupid videos have earned nothing. Will it become a haven for extremists and crackpots? Time will tell us.

But for content creators, who want to earn LBC right now, and ultimately convert it into cash through their efforts – without a third party telling them how much they can earn – Odysee could be the platform for them.


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