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“Haura will change the way streamers and viewers monetize,” Ben Wung told CoinGeek Backstage. In an interview on the sidelines of the London Blockchain Conference, Wung spoke about his vision for the live streaming industry and why it is only possible on the BSV blockchain.
Haura is a next generation live streaming platform that offers a new monetization model to streamers and their viewers. Currently, streamers depend on donations from their viewers and ad revenue. The former is unreliable, said Wung. After the first three donations, “the drop was quite significant.”
This forces streamers to constantly seek new audiences to take advantage of virtual donations and gifts. They usually have to stream for hours “because otherwise they can’t generate revenue.”
Haura reversed this model. This allows streamers to accept micropayments
from their viewers through the BSV blockchain. In return, viewers can score certain moments in the stream as non-fungible tokens. However, Wung prefers the term “collectibles” because NFTs have earned a negative reputation for being purely speculative and useless tokens.
Collectibles gain value over time depending on the success of the streamer. If, for example, the audience scored one minute of a Grammy-winning song, the collection’s value would skyrocket.
Wung started out as an Ethereum developer, creating smart contracts and deploying them on Layer 1 blockchains and, later, on Layer 2 networks like Polygon. Initially, he was frustrated with the Ethereum network’s Layer 1 and Layer 2 scaling barriers, which limited the ecosystem’s application ambitions and business model.
He then discovered the BSV blockchain and migrated his platform to the only blockchain network that can grow without limits.
“We have peace of mind that if our platform goes viral and we get a lot of users, we don’t worry about our platform breaking down,” he said.
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