Streambed is a social media tool that uses a blockchain tracking system to delegate analytics to all parties involved in creating, publishing and distributing a piece of video content (sponsors, talent c). It immutably links them, their video posts and their interactions by hashing the content metadata to the blockchain, creating richer, more reliable and informative data on that content’s performance.
It uses this reputation to assign a reputation to each user, and companies are given the opportunity to pay users directly for their analytic data about the brands they already like.
Over the last 10 months we've bootstrapped our team from 4 founders to a team of 10, and delivered the Streambed Consumer App in July. We completed Google's extensive app verification process in August, and the same process for Zoom, Instagram and Facebook in December. We have secured over 100 users for our beta testing phase. We have another 150 people on the waitlist.
In the meantime, we are on track to deliver the enterprise SaaS interface at the end of April 2021, with our rollout strategy underway following that. We have secured agreements with Coindesk Inc. to use Streambed to distribute their content, and were the main upload provider to the Blockchain Futurist Conference in November. We have secured commitments from 3 agencies to test our product with a live campaign in May and June.
Streambed’s business model is to service media + marketing enterprises needing reliable market intelligence on content’s real impact and reach.
Streambed aims to serve brands and agencies that want to connect directly to consumers and pay them for their analytic data.
Problem or Opportunity
Content sharing on the internet is fundamentally broken: Today, Publishers struggle to maintain their reputable voice amongst the noise. Creators have lost the ability to keep track of their work and license it Brands struggle to meet customers where they are, and can’t trust influencer data. Influencers are beholden to the platforms they have built their audience on, and normal people cannot leverage their influence in their niche communities.
This is because all of the different versions of our videos and ourselves online have value, but are uncorrelated.
Solution (product or service)
Streambed is a media linking software that generates collaborative analytics on the use, traffic, and derivative pathways of content on the internet.
By logging and indexing unique identifiers for videos files and then tracking their life cycles, Streambed links: creators to their videos creators to their collaborators, distributors and sponsors content to its downstream versions and cross-platform traffic
We enable: direct + transparent distribution of data in real-time data-driven monetization across the content multiverse. direct payments to users who are building reputation on social media
Web 2 competitors include Hootsuite, Sprout Social, Loomly and Buffer.
Web 3 competitors include blockchain-based social media platforms like Voice, LBRY.com, Steemit and Akasha.
Advantages or differentiators
For our Web 2 competitors, we will be a source of immutable analytics for companies like these. We are able to be this because all of our data is secured by a proof-of-work blockchain, and is encrypted and immutable.
For Web 3 social media companies, they struggle to gain users because the cost of switching is too high. As we support many different social media platforms, we serve as a user source for each of these platforms.
Streambed users log in to the platform for free.
Streambed customers log in through the company profile, and pay a nominal monthly fee to set up the platform ($100/mo for 5 users). They then run campaigns to pay users directly, and Streambed takes a 30% fee.
Our business model is a traditional SaaS model with a monthly fee for corporate customers.
We have secured over 100 users for our beta testing phase. We have another 150 people on the waitlist.
Money will be spent on
Investor funding will be spent on product development and further implementation of our rollout and user growth strategy for the next phase.
Product development includes the buildout of the corporate app, and the subsequent build of our consumer mobile app, releasing fall 2021.
Offer for investor
We currently have an open round for $500k with an $8M Valuation Cap, on a 25% discounted convertible note.
The risk of creating a social media tool is we currently use Web 2 APIs to access publishing to social media companies. We maintain strong relationships with people at each of these companies to ensure our access is sustained. As we move to more Web 3 focused models this is less of a risk.
Incubation/Acceleration programs accomplishment
We were one of only 9 companies to graduate from the prestigious Creative Destruction Lab Blockchain Stream in May of 2020, from an original cohort of 46 companies.
Won the competition and other awards
We were the winners of the Wyoming Sandcastle Startup Challenge in September, winning a prize of $12,500 USD.
We were the winners of the CityMoguls Startup Challenge in December, the most prestigious members group for entrepreneurs in Canada in media & entertainment (prize money $650).