Petals Video Monthly Report — December 1, 2022 — December 31, 2022
TikTok has become one of the most popular apps in the world, with over 800 million active users. It has grown from a small, unknown app to a global phenomenon in just a few short years. The key to its success has been its ability to quickly adapt to the changing environment and to create an engaging and entertaining experience for its users. TikTok has been able to capitalize on the power of social media and the rise of short-form video content to create an app that is both fun and addictive. It has also been able to leverage its user base to create a powerful marketing platform, allowing it to reach new audiences and drive growth.
Just like the success of TikTok has shown us the importance of staying ahead of the curve and adapting to the changing environment, it has also demonstrated the power of social media and how it can be used to reach new audiences and drive growth. Petals Video is on the right track, and we believe it is the best path for web3 mass adoption. Although Petals Video does not have a comparable user base to TikTok, we do see growing users. It took us half a year to go from zero users to over 800 active and engaged users. Petals Video has become one of the leading platforms in the decentralized short video industry. The future is bright, but at the same time we need to keep our focus on the hard work and continuously ship updates.
Technology Updates
1. The first important feature is to attract content creators to upload short videos to the platform. We are still in development of a new reward system that encourages user engagement, especially video uploads.
2. Implementing a content curation system that enables users to rate and comment on videos. Now the ‘like’ system has been on-chain and backend will generate the rating based on user interaction. While on-chain transaction need transaction fees, the platform is considering a new approach of lazy transaction in order to reduce user barriers.
3. Improving the load balance server set-up to improve user experiences, so the video could be loaded quickly. It increases the server cost, while in long term the cost could earn the trust from our users.
4. Besides the current reward system, we are exploring new options for monetizing content based on above user rating system.
5. Adding support for rich special effect on videos, so user has more editing tools to create fun contents.
6. A referral system allowing users to easily submit and share their own videos.
Community Updates
1. Shared information about Petals Video through infographic tweets.
2. Released the November 2022 Monthly Report of Petals Video.
3. We are exploring more countries and working with local partners for marketing plans.
4. Some of partners have already uploaded hundreds of videos in local languages to keep users engaged with fresh and interesting videos.
5. Hosting several Twitter events for marketing and join a few Twitter spaces to discuss the future of Web3.
6. Creating new hashtag events, such as #ShortVideo #Web3 #PetalsVideo, so that users could link contents with their familiar concepts.
7. Introducing a collaboration campaign to bring active users more followers.
Twitter: https://twitter.com/PetalsVideo
Telegram: https://t.me/PetalsVideo
Website: https://petals.video/
