Xfinite — July RECAP
Xfinite, a next-generation media platform powered by Algorand, with high innovations and advanced technology, was set out from the start to make giant moves in bringing transformation to digital media. It has been achieving this goal through innovative developments to ensure transparency and a superior experience for all stakeholders.
In July, Xfinite had an outstanding record of achievements. That speaks volumes about how much the media community appreciates this project.
Xfinite came together with Algorand Blockchain to expand its microservice-based multi-tenant architecture. Its blockchain provides verified and transparent records, conversion rates, and customer insight such as demographic statistics. It enables brands to create better marketing strategies and measure block data records to determine influencers’ objectives.
Algorand blockchain is a platform that supports smart contract functionality with its consensus algorithm on the Proof of Stake (PoS) protocol. It promotes scalability and transactions for businesses by removing the technical barriers hindering mainstream blockchain adoption.
Xfinite will leverage the Algorand blockchain to achieve the following aims:
- Increase user engagement through tokenization and rewards for users’ contributions
- Tokenization of brand value
- Establish a fair and rewarding economy with real-world value
- Tokenization of media content
- To provide a crowdfunding and community-lead content production
Xfinite launched the Mzaalo Jam Session
On July 29, Xfinite with its partner Mzaalo, a gamified on-demand video platform, launched the Mzaalo Jam Session for Celebrity-Fan Engagement.
Mzaalo enables users to use the reward coins they have earned to interact with their favorite artists. Watching content and the incentivization as a blockchain-reward increases Mzaalo’s credibility in building engagement and retaining users.
The launch of the Mzaalo Jam Session will allow fans to virtually jam with their favorite music artists and ask them questions in the interactive session.
The bidding window opens for users to participate on a daily, weekly, and monthly basis. Every week, new artists will join the Mzaalo Jam Session to interact with fans.
For more information, read about it here.
In July, Xfinite was featured by BTC Manager, for leveraging innovations, advanced technology, market understanding, and reward recommendation engine to grow its user base, which is rapidly expanding to India and the Asia Pacific Market. Xfinite partners with top players in the media industry to build a portfolio of licensing agreements to create a superior experience on the media platform.
One of such partnerships to promise rapid growth in the user base is Eros Now.
Partnering with Eros Now will give Xfinite access to 36.2M paying subscribers and 216M registered users with a content library of more than 50,000 hours of music, TV, and shows.
Completed Audit of Native Token XET
The most exciting news of July for Xfinite is the completion of the Official Audit of its native token, Xfinite Entertainment Token, by Runtime Verification.
XET is the utility and governing token used on the Xfinite platform. It is built on the Algorand blockchain and functions as a unique value of exchange for all stakeholders, including brands, influencers, and content producers.
The audit included comparing XET’s specification to its description in the white paper and checking through the token’s Python deployment script. And to ensure that the token deployment script was flawless with the token working as indicated in the whitepaper. The verification company analyzed two sources: the XET white paper v2.3.1 and the XET Github repository content.
These are the major milestones covered by Xfinite in July. Other events include hosting an AMA with Blockchary Infinity, a giveaway of $100 USDT to winning users, and allowing digital rights to all users.
Xfinite is all set to achieve greater things this month with a focus on creating a superior experience for all stakeholders in the digital media.
Read more about the Audit, here.
Xfinite Social Media Platforms:
Telegram Group: https://t.me/XfiniteOfficialCommunity
Algorand Explorer (XET): https://algoexplorer.io/asset/283820866