Livepeering Into The Future of Video

There are only two ways to make money in business: One is to bundle; the other is to unbundle." - Jim Barksdale

Similarly, there are only two ways to build valuable products in crypto, one is to bundle services, the other is to unbundle services. The greater opportunity for crypto protocols currently lies within unbundling and distributing existing services.

The Lifeblood of The Internet

Existing tech giants function by bundling services across verticals. For example, Youtube (Google) and Twitch (Amazon) aren’t just content distribution engines. The streaming giants are vertically integrated offering data storage for videos, monetization capabilities for creators, and a host of crucial services for developers. The ability to provide all of these services seamlessly helps ingrain content producers and developers into each platform.

Today, video content is the lifeblood of the internet with Cisco predicting that by 2022, 82% of all internet traffic will be video. The rise of streaming – audio, music, movies, content, etc. – has further increased the demand for robust video processing infrastructure. Video transcoding is one of the key processes for all types of streaming including Fortnite Concerts, Twitch gamers, Youtube Podcasters, and GenZ TikTokers.

Video transcoding is the process of reformatting raw video files into viewable files based on the user’s bandwidth (2G-5G) and device. Video transcoding is essential for streaming video (live or static) and the global video streaming market is growing rapidly with MediaKix reporting that the streaming industry is estimated to reach $124 billion by 2025,” while Grand View Researchpredicts the industry to reach $184 billion by 2027.

As the market for video streaming expands, new infrastructure building with cryptonetworks presents opportunities to increase scale, reduce costs, and remove points of centralized failure.