On February 27, 2017, Denver-based Blockphase, a content distribution company that uses blockchain technology, announced that over 50 content creators and studios have registered to be part of the upcoming beta of its PhaseRight VR platform, a digital content distribution system for virtual reality (VR) and 360 video creators. The platform will begin testing in the second quarter of 2017.
Utilizing Ethereum smart contracts, content companies, studios, and artists will be able to secure digital copyright proof, ensure proper participation credits, and utilize cutting edge distribution technology to receive instant micro transaction payments from fans and users.
According to Blockphase, PhaseRight VR will execute time-stamping, “a technique created to track the time and date of filing and authenticity of a virtual reality, augmented reality or 360 video content piece.”
Users of the platform will have the ability to prove their content’s existence at a certain moment of time. Digital proof of time-stamping will be documented on the blockchain and a registration certificate with cryptographic evidence will be provided to the rights holder.
According to Blockphase, when its system is built out in Q3 2017, PhaseRight VR “will give content creators total control over setting usage policies for their work and could pay them instantaneously when their content is watched.” Other incentives for users to join the platform include the creation of customized loyalty programs that can better reward content fans.
In a press release published by the company, Blockphase CEO Steven Austine stated:
"We are excited that these talented virtual reality and 360 video content creators have offered to join our PhaseRight VR beta. As we look to build our decentralized blockchain distribution platform, their participation will be vital to us delivering a top quality product."
Similar to how the Ethereum-based platform Ujo seeks to solve the distribution problem for the music industry, PhaseRight VR will utilize a decentralized system for the public to search and use to verify ownership of VR content. Royalties, licenses, ownership rights, and payments can be facilitated with less friction using Ethereum smart contracts to automate these processes.
According to Blockphase:
“The Ethereum blockchain represents the best possible potential to achieve the construction of a scalable decentralized entertainment industry. We believe the most innovative and progressive minds in blockchain tech are developing on Ethereum.”
Those interested in participating in the PhaseRight VR beta can register on Blockphase’s website.