Decentralized video sharing platform Viuly has recently achieved its most recent milestone target of 1 million users with most of the new users having joined only recently, with around 700,000 users signing up in the last three months. The blockchain-based video sharing platform does not charge video uploaders any fees for displaying their content. In addition to the free service, Viuly also incentivizes its users through a participation program in which active users are rewarded with the VIU cryptocurrency.
The company aims to disrupt the multi-billion dollar industry of online video-sharing with its blockchain-based solution. Through decentralization and transparency, it aims to create a fair and open video network operating on an equitable model of revenue sharing. VIU tokens are the native currency powering the Viuly video platform. They are used to transfer value between advertisers, content creators, and users.