Three creative projects take top Livepeer honors at Web3 Jam
Livepeer gave thanks last week for the fantastic ideas that emerged from ETHGlobal’s Web3 Jam, a two-week virtual hackathon focused on decentralized media, Web3 and non-fungible tokens (NFTs) that ran from November 12th to November 24th.
Livepeer’s own Eric Tang delivered a jolt of inspiration early in the proceedings by leading a workshop called “Video NFTs: Beyond Collectibles.”
Eric told participants that while collection and trading have been a useful way to introduce the concept to the mainstream, the time was ripe to explore other use cases, particularly for video NFTs “where the media format is so rich.”
Artists can raise money by turning NFTs into tickets for streamed musical performances or gallery showings, for instance. Or communities and special interest clubs can deploy them as virtual membership cards, offering access to members-only meetings, information or virtual gatherings.
The idea of token-enabled event entry is particularly interesting given the growing number of metaverses popping up in the decentralized sphere, Eric added.
“Video streaming becomes a really interesting tool for us to tie the virtual world with the physical world,” he said. “We’re starting to see concerts happening inside these virtual environments, where people are streaming those concerts from the virtual environments out into the physical environments onto the big screens. And vice versa — people are streaming DJ sets from the real world onto the big screens in the metaverse.”
He closed by reminding workshop attendees that Livepeer’s decentralized streaming architecture can help them turn their innovative video NFT ideas into an affordable reality.
When the hackathon wrapped up on November 24th, three projects walked away with top Livepeer honors, based on our assessment of quality, potential impact and longevity, and overall wow factor.
First prize and $4,000 went to the team developing Momentape, an NFT marketplace that will offer content creators new ways to generate revenue.
In second spot was DBeats, which took home $2,000 to help develop a decentralized music and creator community. This was a third trip for DBeats to the Livepeer hackathon podium this year. The project took second place at ETHOnline in October and was one of five projects that shared in a Livepeer bounty pool at HackFS in September.
Loop, a platform that will allow fans to stake capital in support of their favorite creators, won third place and $1,000.
