What Is Xfinity Entertainment (XET)?
Xfinity Entertainment is a decentralized entertainment ecosystem. The project claims to create a next-gen media platform via innovation in economics, content ownership, and data management ensuring transparency. According to its litepaper, the project aims to revolutionize digital media streaming and bring innovation to the customer experience. The project provides a blockchain-based solution to shape the future of digital entertainment in a trusted environment.
Its litepaper claims that the project is consumer-centric, providing a seamless and interactive user experience. The project also claims to provide rewarding economics where every user benefits from the project’s success. Further, the project claims to have partnered with more than twenty-five content providers and more than six hundred reward providers to provide quality and rewards to its users.
The project launched an online streaming decentralized app (DApp) called Mzaalo. The application is both available on android and IOS. Users can watch premium content without any fee and have an option to watch localized content. Further, users can earn a reward by watching and engaging with the app. The more a user engages, the more they earn the reward. Such reward can then be redeemed digitally or via physical merchandise or experiences. The Xfinity entertainment is built on the Algorand blockchain, which uses proof of stake consensus protocol. Algorand blockchain is claimed to be a cost-effective blockchain that has a rate of thousand transactions per second.
The native token of the project is denoted by XET. XET is a utility token. Users of the platform get rewarded with the XET token for their engagement with content on the platform and application. Influencers and brands use XET tokens to purchase advertisement space on the platform and application. Users can also stake their XET tokens to create non-fungible tokens (NFT) for their fans.
History of Xfinity Entertainment (XET)
The streaming platform was launched in the second quarter of 2020. The XET token was launched in 2021. The founding team behind the project includes Swaneet Singh (CEO), Vikram Tanna (COO), Santosh Yellajosula (CECO), and Parag Arora (CSO). The total supply of XET tokens is four billion.
