Anurag Kashyap-Backed myNK is India’s First Blockchain-Powered OTT Platform

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Time to Read: 2 minutes

The consumer is truly king when blockchain meets entertainment. Mumbai startup myNK, a blockchain-powered video-on-demand (VOD) platform for global content, aims to revolutionise the industry and people’s viewing habits

MinersINC, Heyou Media’s partner in India, has launched. Anurag Kashyap is MinersINC’s creative director and India’s hottest director. You can watch Seasons 1 and 2 of his Sacred Games, Netflix Originals’ first Hindi-language production.

Founder and CEO Nitin Narkhede said, “We designed myNK, a blockchain-powered VoD (BVOD) platform that delivers directly to consumers in the most secure and transparent form on a pay-per-view basis at a cost”.

MinersINC has brought globally appreciated, noteworthy films with gripping storylines to India in the most cost-effective manner for both, consumers and right-holders. 

Heyou is proud to be partnered with MinersINC.

How does the platform work?

The platform comprises a curated library, which currently has over 200 films and growing – most of these have never been released in India. The content includes critically acclaimed and award-winning films and series from across prestigious festivals, including Cannes, Tribeca, Sundance, and Berlinale. 

However, the problem lies in disrupting the age-old processes of film distribution. 

Nitin explains there has to be a significant shift and huge benefits associated with this transition. Adoption of blockchain as a technology enables new services, eliminates capital inefficiencies, and provides a scalable model in a very secure and transparent way.   

The other challenge was to find adoption and buy-in of this new approach and the concept by the film industry. Currently, the process is tightly controlled by a few stakeholders with limited acceptance of innovation. 

Related Article  Facebook Not to Launch Libra Until Regulatory Concerns are Addressed

Using blockchain 

Most OTT/entertainment platforms today offer a one-way entertainment delivery algorithm. This, Nitin explains, gives limited scope to creators and consumers to choose. MyNK’s focus is to monetise the digital wave by bringing more consumers on the platform. 

The model is built on trust and transparency, which is enforced by blockchain, mentoring and content curation by industry experts, and the pay-per-view option

Nitin adds that the focus on community empowerment and involvement enables members and fans to contribute and expand the economy. 

The platform also provides in-built spot incentives and rewards mechanism for any contribution to the ecosystem to enable micro-distribution. 

Why blockchain?

The platform uses blockchain to develop new features, service lines, avenues of earnings and revenue streams, and also a safer way of interfacing with unknown participants in the ecosystem.  

(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.xtechalpha.com.)

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Anurag Kashyap-Backed myNK is India’s First Blockchain-Powered OTT Platform

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