Soulbound, a decentralized streaming platform, has updated new functionalities to increase viewers’ involvement and content creators’ profitability. The platform now features StreamFi integration, allowing creators to earn Soulbucks ($SBX) without subscription duration requirements. This is a shift from standard platforms like YouTube and Twitch, which impose such conditions.
The real-time payment model enables creators to monetize based on the degree of audience engagement from day one, expanding the possibility of streamers regardless of their followers.
Real-Time Betting Will Expand Viewer Engagement for Soulbound with GambleFi
In addition, the relaunch of Soulbound includes the incorporation of GambleFi, which enables viewers to place real-time bets on in-stream events. Viewers can predict events such as the outcome of a player’s next move or the final results of live matches, introducing a new dimension of interactivity to the streaming experience.
Using decentralized oracles to verify prediction outcomes and smart contracts to manage payouts, the GambleFi feature ensures transparency and quick access to viewer winnings, fostering a more engaging, reward-based viewing environment.
Its emergence shows that prediction markets have grown significantly: Polymarket, for example, has dealt with $1 billion in bets on the 2024 US elections. To build on such enthusiasm, Soulbound plans to incorporate such features of prediction-based interactions within its streaming service, where the viewers could gamble directly with the live content.
Casey Grooms, the co-founder of Soulbound, stated that this sector received a 565.4% boost in prediction market traffic and a 713% increase in betting amount in Q3 of the year 2024 – the foundation of GambleFi.
Upcoming Telegram dApp to Enhance Mobile Accessibility
Soulbound’s relaunch also includes plans to launch a Telegram dApp by the end of the year. With over 800 million active users on the platform, Telegram offers a convenient and accessible medium for Soulbound’s decentralized app, enabling users to make predictions and engage with content on mobile devices.
Telegram’s Bot API and Wallet API integration provide an efficient route for decentralized projects to reach a broader audience, while the mobile platform supports content creators in expanding their fan base.
With total funding of $4 million raised, backed by Animoca Brands, NGC Ventures, and Big Brain Holdings, Soulbound’s strategic growth aims to redefine decentralized content creation.