Xfinite aims to revolutionize digital media through improvements to customer experience, data-driven engagement, and ecosystem economics to benefit the community.
It is a blockchain-based technology-enabled solution to ensure transparency and re-establish trust in the digital world. Xfinite aims to shape the future of digital entertainment in an advanced environment.
Xfinite believes in a future built around superior experience, positive engagement, transparency, and inclusive economics to create a fairer system for all.
Xfinite is not only bringing in accountability by introducing a proper chain of monetary transactions, but also revolutionising the entertainment industry by introducing NFTs. NFTs, short for Non-Fungible Tokens, are digital tokens which hold the data related to art, music, movies, or any other such media, and cannot be exchanged in ratio with other currencies or digital assets.
Amid the coronavirus pandemic 2020, the demand for original digital content surged high. The entire population was homebound that led to the rise of billions of hours of screen time.
Simultaneously digital media content developers are also using it to gain viewers for their content creation.
The main goal of Xfinite digital media is to make premium, exclusive content freely available for everyone. This can be done by redefining the relationship between content producers, brands, and viewers.
“By creating a mutually beneficial system, they intend to give users a better experience, making the brand more effective data and content producers, the ability to get appropriately compensated for their intellectual property” said Xfinite CEO, Swaneet Singh.
Xfinite has thus integrated 25 content partnerships, including on-demand and live TV, from players such as Eros Now, Hare Krishna, DSTV, NewsX, and others.
Through these partnerships, Xfinite has developed a library of over 50,000 + hours of content across premium movies & series, news, spiritual, lifestyle, kids, sports, and regional programming channels as well as being able to cross-market to a pre-existing potential user base of over 206 million people.
XET is a utility token designed by Xfinite to create a supply-chain of non-Fungible tokens. XET token is hosted on Algorand blockchain. These tokens can be used to pay independent creators, advertisement companies, customers, influencers, etc, to create a deflationary economy.
The fun-part is that XET will be available in various forms, such as digital collectibles and fan tokens in the form of avatars, influencers may be given avatars with the skins of their choice, which brings inclusiveness within the industry and a sense of ownership.
Smart contracts used to pay and transact tokens eliminate delays in payment to the creators and advertisers. Out of total supply of 4,000,000,000, 1,000,000,000 are distributed to the public.
Xfinite aims to become the industry leader as a blockchain based digital media platform.
The media and entertainment industry is primarily relationship-based, meaning that digital creators are often at disadvantage by middlemen margins and stealth profits.
With the help of blockchain technology, the industry could potentially eliminate fraud, vastly reduce costs, increase transparency overall, and reduce any middlemen charges.
The distributed ledger technology will create a practical application of accounting and timely access to profits to both content creators and investors.
This brand of innovations is only a few years old, but industries like Xfinite are already making their mark to re-establish trust between consumers, content creators, and publishers.