Who uses MyTVchain today?
Sports clubs and federations, we have some coaches and some media as well but the bulk of the users are sports clubs.
750+ WebTVs are currently active on the platform.
What is the business model of the platform?
We mainly target 1°) sports clubs and 2°) sports organizations and federations.
Our offer consists of selling :
for sports clubs :
- the customization of their web TV with 3 service packs
- production and captation tools
for sports organizations and clubs :
- the white label mytvchain.com platform
- the white label MyTVchain mobile application
With an implementation on the platform, the MyTV token will be a business model in its own right!
For you, is Socios a competitor, a potential partner, or a completely different niche?
No, Socios allows you to invest in a sports club and to participate in votes on certain decisions within the club.
Not like the MyTVchain offer which goes from video capture to marketing activation.
How do you see the wider competition? What would happen if giants were to tokenize? (Twitch, YouTube, …)
The competition doesn’t have the same depth of offer as complete as MyTVchain, not to mention significantly higher prices. In France, our partnership with Sport en France and the CNOSF locks the market for several years.
Regarding Twitch and others: The major difference lies in the fact that we are building the biggest community related to sports which is our specialization. We don’t think that generalists will be able to fully adapt to the specific needs of sports clubs…
Why use the Blockchain?
Unlike the black boxes of most proprietary loyalty programs and virtual currency systems, the use of blockchain and a token-based business model ensures openness, transparency, and immutability of transactions.
Fans and video producers can retain their rights and market their content independently. The blockchain platform allows for fair usage tracking and rewarding of the associated contribution to stakeholders and clubs.
At a time when society is demanding honesty, transparency, and freedom on online ecosystems: blockchain technology seems to be the most appropriate to create a decentralized platform, governed by a community of peers (consisting of sports clubs, fans, supporters, friends, and families) and profitable for anyone at its scale.
What about ownership of the content on MyTVchain?
The content creator keeps it!
Can we talk about an Olympic Games rumor, or is it too early?
Why not. However, we think there are other “milestones” to reach before we think about that. Sport en France partnership is a good step in this direction.
Will there be esports on the platform?
Yes, there will be in the future. We have the vocation to welcome ALL types of sports on our platform, even ludosport. Our platform is made for everyone, for all ages and all corners of the world.
Is there or will there be technical support for clubs, federations, etc. to create their content or will they have to use their own means to film, etc.?
Of course! We have a very large offer, the largest on the market.
Scenario 1: No camera. We send a team.
Scenario 2: Camera of a friend/family. Compatible without problems!
Scenario 3: Fully equipped. Extremely fast broadcast of the first images.
Does MYTV also think about companies? For example, outdoor sports companies create a lot of video content.
Yes, all sports actors are welcome on MyTVchain!
How can I create a WebTV?
It’s very simple! It takes less than five minutes:
What is the MyTV token?
The MyTV token (MYTV) is a blockchain-based utility token acting as the fundamental unit of value within the MyTVchain ecosystem.
Each user is incentivized to purchase and use MyTV tokens to access services and is rewarded with MyTV tokens for their activity* on the platform.
The value of the tokens is designed to grow as the platform develops: it becomes a means of payment, an efficient store of value, and a new passive income opportunity for all those involved in sports and esports.
* Rewards: publish a video, share content on social media, rate content, watch ads, …
What is staking on MyTVchain?
Crypto-currency staking involves locking in a certain amount of the asset to receive rewards. This process is similar to a savings account in a traditional bank.
For the MyTV token, this mechanism stabilizes the token’s price while ensuring a fair reward for the holders who invest in the long term and participate in the governance (voting on key decisions on the distribution of rewards on the platform and staking packs for example).
The pairs offered are in the form of DURATION / ANNUALIZED RETURN (APY).
- 30 days: 7% annualized
- 90 days: 13% annualized
- 360 days: 36% annualized
Interests are paid directly from the treasury at the end of the lock period.
It remains possible to recover the funds at any time. Withdrawing funds early will result in the loss of interest and a 4% penalty. This malus is charged to the amount originally staked by the investor and sent to the treasury.
Blockchain transaction fees (staking, MYTV redeem, rewards redeem, unstacking) are charged to the investor.
To subscribe to a package, a minimum amount of 100 MYTV is required, which represents (at the time of the public sale) 10$. Once you have subscribed, you will not be able to change the amount deposited, but you will be able to subscribe to new packs.
Other types of staking are being considered and may be implemented in the future, such as flexible staking with a lower rate but with the possibility of withdrawing your rewards dynamically.
What are the risks of staking?
Like any type of investment, and especially in the world of crypto-currencies, there are limitations and risks to be understood, especially regarding the uncertainty of prices of a volatile asset. If the price of the asset drops by a higher percentage than the return on staking itself, your contribution to the ecosystem will not earn you anything and will not make up for your losses.
How is the relationship “Increase in the number of views => appreciation of the token” verified?
It is a shortcut to say that the token appreciates in proportion to the number of users and views on the platform.
To understand this, let’s start a little further.
- Total MYTV in circulation: 390,000,000 (decreasing over time due to supply scarcity mechanisms)
- Token classification: utility token (a token that allows access to products and services on a platform)
- Purchase of products and services on MyTVchain.com
- Micro-rewards: some interactions considered virtuous are rewarded by cash in MYTV (about 70% supply at launch).
- Staking: different staking modalities for investors
- On-chain governance: the ability to vote on key proposals and decisions (reward distribution, staking model, etc.)
Token valuation: the principle is to link the consumption of paid features on the platform to the valuation of the token.
How does it work?
- % of FIAT payments is used to buy-back on the market: MyTV buys tokens from the market and sends them to the treasury (decentralized)
- % of MYTV payments is used to abound the treasury, another % is burned to rarefy the number of MyTV in circulation.
What impact of a view on the platform? Difficult to estimate.
The most tangible element is the viewing of an ad: A marginal % of the platform fee will be used for buy-back.
How will you motivate clubs to use MyTV tokens instead of FIAT?
Unlike FIAT currencies, the MyTV token:
- Dynamic and finite supply: it is built to increase in value over time as the platform is consumed
- Remunerative: a club can use it as a money management/passive income generation tool
If we project ourselves into the day-to-day use of a club that offers its fans paid services, receives rewards and donations:
- % converted back to FIAT: a club will likely convert its MYTVs directly in FIAT for short-term liquidity needs
- % retained in MYTV: to take advantage of the token’s dynamism and staking opportunities
An incentive to purchase features on the platform with a % cashback in MYTV credited to the content creator’s wallet is also considered.
To make the “traditional” players pour into the potential opened by crypto-assets, we must be pragmatic and accompany a smooth transition by offering FIAT and MYTV entry points and by raising general awareness.
MIGRATION ERC-20 => BEP-20
How does the migration work?
The process is transparent. We will announce the migration dates so that MyTV holders can make sure to move their assets to a BEP-20 compatible wallet (e.g. MetaMask, Trust Wallet, Ledger, Wallet Connect).
At a given moment, a “screen capture” of all ERC-20 holders will be performed. A migration script will automatically send the BEP-20 tokens to the same addresses.
During migration, the supply will be decreased by a factor of 10 to go from a Total Supply of 3,900,000,000 to 390,000,000.
If you own 100,000 MyTV (ERC-20), you will receive 10,000 MyTV (BEP-20) at migration.
When does the migration take place?
The migration to the Binance Smart Chain (BEP-20) will be announced shortly and will take place in T3— T4 2021. 🗓
Where will the MyTV token be listed?
MyTV will be listed on PancakeSwap which is the Binance Smart Chain’s most prominent decentralized finance platform.
What will happen to the ERC-20 MyTV token?
The ERC-20 Smart Contract has a “Freeze” feature that prevents any function from being used. At the time of migration, this feature will be used to “pause” the entire ERC-20 ecosystem. MyTV owners will still be able to see them in their wallets but will no longer be able to use them.
I have MasterNodes today, what will happen to them? What about my rewards?
MasterNodes will disappear at the time of migration and will be replaced by a staking mechanism only. You will receive your MasterNodes rewards until the last moment and will be able to switch to the staking offers when the time comes.
Historical MyTV holders will benefit from a dedicated staking package at 120% APY for 90 days.
Is it a definitive goodbye to decentralization on masternodes/servers outside MyTVChain for video storage and delivery?
To date, MyTVtoken serves as collateral for Masternodes sharing bandwidth and storage. At the state of the art, this type of system is very complex to maintain. Proof being for MYTV:
- Some of the VPSs are not properly provisioned,
- Need for course support
- Decorrelation of MyTV and the platform which lives in silos
- Very high transaction fees on Ethereum that prevent both the distribution of rewards and the ability to distribute micro-rewards
We already offer today an extremely efficient peer-to-peer streaming system but we do not exclude coming back to a MasterNode system in the medium/long term.
Today the priority remains to have a strong and useful token within the MyTVchain.com platform. The chosen orientations are fully in line with this.
Do you plan to be cross-chain?
Being cross-chain seems logical if we follow the evolution of the most efficient blockchain systems. This is something we consider essential in the medium/long term but which is not a priority today.
Why choose the Binance Smart Chain?
Link to the blog post: Why Choose Binance Smart Chain