Contentos Live AMA Session with Cryptoverse Community
On Nov 26, our Co-Founder & CEO Mick and Zac, VP of Product had an AMA session with the Cryptoverse community in their Telegram group. Let’s take a look at some of the questions (Q) and what Mick and Zac (A) had to share with Cryptoverse community members.
Read the full AMA text below. (This AMA has been edited for clarity.)
Q. How Contentos planned to survive in deadly competition with a product like http://COS.TV which has so many competitors in the market?
A. Centralized content platforms such as YouTube or Instagram now control everyone’s life, they are at the dominance position, but it does not mean a new content platform stands no chance to compete.
In fact, content creators always looking for a new way to monetize their content, as long as a new content platform can provide a new way to help creators get paid, it has it’s unique spot to survive even thrive!
So COS.tv will leverage the nature of blockchain technology — to provide a transparent and creator-owned platform, let creators and core fans to enjoy the content and also facilitate the peer-to-peer content support such as donation or paid subscription.
Just yesterday, cos.tv released the “GiftingVote” feature which allows fans to send GiftingVote to creators. 60% of the profit of selling GiftingVote will be sent to the creator directly, and 40% will be shared with all block producers since they are the infrastructure builder.
It is my belief that if we can find a new way to help creators monetize their content, we will make cos.tv works in the market. I did this back in 2016 when I was the LiveMe US GM, so I have strong confidence that I and my team can do this once again!
Q. I saw something fascinating, voting/staking program, up to 643% please how come you are giving this much and what are the modalities involved in staking.
A. The requirement of operating a block producer in Contentos does not really hard, but it still means a challenging work to most of the regular community members. (for the detail requirement, I can share the medium post on our medium site)
but the core spirit of the blockchain community is to make as many people can participate as possible, that’s why we decide to roll out the community voting program, share 80% of BP reward from content mining to anyone who casts the vote to the designated 7 community BPs.
reward so far is good, and we also know it can cover our operating expenses with the rest of the 20% reward.
The better thing will happen soon since 40% profit of selling GiftingVote will be shared with all BPs, so our community BPs will also get these part of the additional reward, this reward will be shared with anyone who votes these BP as well!
The potential revenue will be unlimited as long as we sell more GiftingVote! So I encourage everyone to take a quick look at this voting program :
Q. Would it be easier for “long tail” content creators on YouTube, Twitch, etc. to monetize their content on Contentos and why?
A. In fact, long-tail content creators now get harder and harder to monetize their content on YouTube or Twitch.
The key reason is viewership distribution. YouTube intends to give their In-house content or “Brand-safe” content more exposure, which makes long-tail creators hards to get viewership.
If your video/live stream cannot get enough viewership, you cannot acquire enough followers, which means you cannot be qualified to enroll platform partnership program and get Ad revenue share.
Meanwhile, since you cannot grow your fan base, you won’t be able to get a business promotion deal. The key issue still the because it’s a centralized platform and you, as a creator, cannot change their mind since you are NOT part of them.
On the other hand, in Contento's ecosystem, the decentralized content platform, anyone who holds VEST (COS staking form), you are part of the ecosystem.
which means you will be able to not just monetize your content, receive Peer-to-peer support directly from fans, but also means you will be able to share the value generated from the ecosystem. You also got a higher weight when supporting others' content.
Meanwhile, for any critical decision such as changing the revenue split ratio, your VEST becomes a Vote, you will be able to participate in the final decision as part of the community. I believe this will be one significant difference that any centralized content platform cannot offer.
Q. Most of the investors just focus on the price of token in the short term instead of the real value of the project. Can you tell us the motivation and benefits for investors to Cos long term?
A. Most of today’s blockchain projects do not have true usage, which means the valuation of a project cannot be judged by traditional measurements such as the P\E ratio. That’s why most of the tokens’ prices heavily fluctuated but in the end, it keeps going downward trend.
I personally believe whether it’s blockchain or not is not the key, as a product, the key is users want this product and love to use every day. I will say today cos.tv + Contentos already achieve a small goal in the past 2-month work — reaching 10K DAU.
In fact, we got thousands of new users joined to COS.tv every day, based on the 3rd website traffic analysis tool: Alexa, cos.tv global ranking is constantly going up in the past 90 days (https://www.alexa.com/siteinfo/cos.tv), now it's rank #34071 worldwide, 90 days ago, it’s #143931! Data won’t lie! The value from the user and true business need, in the end, will become the solid support of the project valuation, later then reflect the token price.
The other part is our community BP program, we want to share the BP reward to as many voters as possible, make sure a self-sustainable system can be built under strong community support. It will later reflect on the value of the project as well once more and more people join the program.
Last, we are expanding to multiple countries, Brazil now is our largest user base, followed by Vietnam, we also have strong support from China, Russia, and the US. COS's next main focus will be South Korea and some exciting news will be announced in early December in both Korea community and exchange listing.
So to me, I am not worried about short term price, BTC takes 10 years to reach today’s high, COS just started!
If I were you, I will hold COS at any cost!
Q. Contentos which aim to be the future Ethereum that accept all kinds of DApp. What is the level of expertise and experience of the team in the blockchain ecosystem to achieve this?
A. I am a developer with 10 years of software development experience, everything came from the technology breakthrough
To me, blockchain is a relatively young technology, so many teams and developers are exploring every day, new concept comes up every day, some works, some doesn’t.
But the core thing remains the same — building a good product that millions of users want it, otherwise any cool, fancy technology does not create business value.
So to me and my team, we already use Contentos project to prove that we are capable to build a successful blockchain project and serves thousands of daily active users.
Meanwhile, we open sourced everything, not just part of a module, but everything on Github to community developers, cause I believe without open source, there is no trust in the blockchain.
in the past 18 months, we’ve published a monthly development progress report constantly. And most important, my developers previously worked on several world first-class level Android utility App such as Clean Master or LiveMe live streaming app.
These apps served over 100M daily active users. That’s why I strongly believe our team is capable to fulfill our goal, and as a matter of fact, we are fulfilling the goal with each deliverable we made in the past 18 months.
Lastly, we are not alone, in our partnership, we got some great, strong teams to work with us such as Harmony.ONE or MATIC. Together, we will be able to explore something beyond the existing boundary, and we will success!
Q. Why cos.tv needs mobile number instead of email, while signup?
A. To set up an email account is much easier than getting a phone number, we try to avoid most of the fake account with this approach.
Q. Suppose in the future a whale (or even group of whales) with full bags of COS will appear on the platform and will vote.
A. #1. That’s why we introduced GiftingVote, holding a large amount of VEST can give you lots of voting power, it’s similar to STEEM, but it has no cost to holder when he give the vote, in our design, the true game-changer is GiftingVote which can significantly boost your content weight, but it cost COS from gifter, so if a gifter spend more, creator and BPs gets more. If you ask Whale to pay, it becomes a cost to him!
#2. Ontology also helps us in terms of technology design, they are a very skillful team, it truly helps a lot
Q. Yesterday Contentos launched #GiftingVote program for Content creators. What is the main purpose of this program and how does it work?
A. The core idea is first to let creator earn more, 60% gifting vote will be converted to VEST and send to creator directly, 40% will be shared with BPs since BPs are the infrastructure owner. Meanwhile, in the later update, receiving more GiftingVote will help a creator earns more from content ecosystem reward since we give Gifting Vote more weight compare with Like.
Q. The SF Game Oasis Hackathon development program was made, involving 21 teams, including Celer Network Matic and Cocos projects. What contribution did these teams make to the development project? What features did they work on? Do you believe that interest in blockchain games will increase more in the future?
A. I enjoyed it a lot during the Hackathon. The team we selected as our MVP is from India and they actually made an amazing project that is nearly production-ready. They leveraged COS.tv as a video platform to show cricket information. And they use COS token as the wage for users to bet on sports result. Find out more here:
DApp development on Contentos Chain at SF Game Oasis Hackathon
Indian team Byte Karma won $1500 USD provided by Contentos
Q. I have seen an interesting thing in Contentos ecosystem is a Voting node, this also brings cos to users, can you tell me more about this interesting thing?
A. you can vote for official BPs running by Contentos Foundation and get Voters reward! According to Contentos whitepaper, 30% of eco-reward and 30% of jumpstart reward goes to block producers. Contentos Foundation will share the received jumpstart reward, approximately 80% of overall block producer reward, with every account that votes for Contentos Foundation official BPs. Seize the chance and cast your vote to Contentos Foundation official BPs!
Q. ONLINE SALES using FACEBOOK and YOUTUBE in their online saling,, encounter some PROBLEMS when facebook and youtube change their ALGORITHMS cause they felt it very hustle and cause them to lost some money.
Is CONTENTOS can solve this problem?
A. Great question, yes, a centralized platform such as YouTube change their algorithm all the time, which affect all creators. We intend to use an open algorithm to select and recommend content to audience, and for those good content, the VEST will be part of factor which will affect algorithm selection, so for the very first time, creator will have the way to decide their fate in the algorithm, and it will be open-sourced as well.
Q. According to your concept, Contentos looks like a Decentralized version of YouTube! But currently, YouTube is a great Competitor for You! What do you think, Can you Beat YouTube like Platform?
A. There are several similar content blockchain projects, but none of them have the advantages we have (Product, Content, and Users). We will say true competition is fighting against YouTube or Instagram. After all, if we build a content app, it needs to be used by users, not just for crypto investors.
Q. For Contentos, What do you think of the future of DeFi in this space? Will DeFi one day take over the traditional financial systems? In my opinion, DeFi brings a lot of benefits to users, but, in fact, DeFi conflicts about benefits with the Bank. How do you solve this problem?
A. For any project that leverages token economy, I think De-Fi is no doubt a field that we’d touch. That’s also why we have our community BP voters reward. We want our community members to benefit from the growth of the Contentos ecosystem by holding our token and doing positive contribution to the ecosystem. Check out more here:
Vote for Contentos Foundation official BPs and get rewards! Contentos Foundation will share 80% of the received block production reward with every acc…
Q. As we already know BITCOIN right now is extremely DUMPING, BITCOIN price crushing Very Low, there are some Articles, News state that “Cryptocurrency is CRUSHING” there is some people said that “this is the END of Crypto”
1. Does this CRISIS IN Crypto DIRECTLY affect Contentos?
2. What are your PLANS, ACTIONS, SOLUTIONS in respond with this CRYPTO CRISIS?
A. Just like I’ve said, price is short term, the key is how to build a product that everyone wants it. That’s the most fundamental business rule. and that’s my goal, I am not worried about token or BTC price since if we cannot build a valuable product, price supposes to go down. I am glad now we have some achievement in COS.tv, which will be a good start to this project even there is no token.
back to BTC, just HOLD, everything will be fine
Q. Which countries is Contentos focusing on for growth?
Are the present markets with huge data sources like India and China is your target markets?
A. China is one of our earliest developed countries, but now we more focus on Brazil, Vietnam, and South Korea. As for India, actually some of you or your friends perhaps are the users of PhotoGrid, LiveMe or Cheez today already, so it just matters of time when you or friend of you see COS and Contentos technology in India.
The Champion team of the game oasis hackathon is from India. And India Market is one of our important markets,too. Currently, we have a India telegram community. We are looking forward to more opportunities in India.
Contentos India Community
Contentos India Community Contentos a non-profit Decentralized Content ecosystem.(THIS IS CONTENTOS INDIAN OFFICIAL…
Q. What different types of features & functions do you provide to your users which help them to trade easily, successfully & smoothly?
A. The most effective way to help users trading easily is by listing on numerous and the most popular crypto exchanges. That’s why we work closely with Binance, gate.io, Bithumb Global. Also, we have been listed on http://crypto.com/ where users can apply for debit cards and spend cryptos as convenient as cash.
Cryptocurrency in Every Wallet™ | Best Place To Buy Sell Store Crypto | Crypto.com
Crypto.com is the pioneering payments and cryptocurrency platform. Our wallet app allows you to buy, sell, send and…
Crypto.com is the pioneering payment and cryptocurrency platform. Our wallet app allows you to buy, sell, send and track cryptocurrencies, such as bi…
Q. Contentos seems quiet at the India market, how do you see the Indian community? could you tell me which strategy will COS expand community at India, and are you looking more partners here?
A. I am very optimistic about the India market, as the second-largest populated country in the world, it definitely has very strong potential in terms of crypto adoption. We will leverage the product to land to India first, let India people experience the cos.tv, PhotoGrid first, as for the COS crypto community, I love to explore more co-work opportunity with great community such as Cryptoverse. We also have a strong friend — MATIC in India as well!
Q. Where do you and the $COS team see the world of blockchain being in years to come, and how will cos change the landscape of the cryptocurrency space in years to come?
A. I believe more team like Contentos team will focus on building true, high-quality products and do true user acquisition, let users start using product which powered by blockchain technology. Once we see this become massive adaption, it will be the day of the next phase of blockchain.
Q. How can the basic users make money on your platform?
A. I won’t say make money from the platform, but the best way is contributing to high quality, original content!
Q. Why do you need both VEST and COS? What is the role of VEST and COS in the Contentos ecosystem?
A. VEST is the staking form of COS, you cannot trade VEST on market (via Binance or any other exchange), but by holding VEST, you can vote BP, you can participate Contentos governance and you have better voting power.
Q. You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision, …
So now I want to ask what do you want to receive from the community?
A. As a project, we seize the chance to introduce ourselves to as many people as possible. We hope to attract users who’d think the content industry needs some new tech and stimuli. We also hope to connect to more potential partners no matter they are content creators, content community or developers. We are very open-minded to any possible cooperation, as long as it’s positive to the content ecosystem and benefit the content industry and our users.
Q. What are the unique advantages of Contentos over the similar projects?
We will say any content ecosystem, either centralized or decentralized, needs to create a good product and have real content creators to work with it.
so Contentos has its very unique advantages:
we already work with 3 major content apps, PhotoGrid (photo), LiveMe (live streaming), and Cheez (video).
These apps came with a large amount of content and creators worldwide.
These apps have a large user base. These advantages are something you cannot see in most content blockchain projects.
Q. Suppose that data was uploaded by “User X” one of your platforms, DApps. The data uploaded is a crime-related in Y country. What is your approach when Y country applies to you to obtain data for “User X”?
A. Good question! as the blockchain, actually, data are all transparent. Especially Contentos stores all content behavior engagement data such as you’ve like a video or comment something. On the other hand, if a country Y asked to video with proper legal action to cos.tv, based on the legal requirement, it is possible for us to work with them, imaging what if its child porn issue? we got to help
Q. I am a famous Youtuber/streamer on Facebook (not much) by playing Mobile Legends. Can I use your project to earn money?
A. We’d like to invite you to publish your gaming video on COS.TV. When your content is there and receives likes or “GiftingVote” from your fans, you’ll receive COS eco-reward. Some of the videos on COS.tv have made some sensible rewards. Check it out!
Thank you, everyone! I love to chat with you. Stay strong, stay safe and stay with Contentos!
-Mick, Co-Founder & CEO of Contentos