Rilla Introduces a Model-Redefining Protocol That Transforms Audience Engagement and Monetization in Live-Streaming
SAN FRANCISCO, Sept. 18, 2024 /PRNewswire/ -- Rilla Network is redefining live sports streaming by turning passive viewers into active participants. Its innovative protocol integrates interactivity and transactability natively, unlocking a new era of live-streaming experiences.
Rilla's decentralized protocol enables users to contribute network capacity and earn rewards, while the network effects of value distribution foster deeper engagement and loyalty. Through real-time interactivity, audience members can transact directly during live streams, creating new economic models for the industry.
The Rilla platform features a viewership gamification and rewards framework, driving engagement with personalized experiences. Its hyper-granular analytics provide insights on a viewer-by-viewer basis, enhancing user experience and targeting. Additionally, consumption-based pricing and trustless billing ensure cost-efficiency and scalability with a logarithmic cost-to-serve model that keeps costs low even as audiences grow. Low-latency streaming further enhances viewer engagement.
With the traditional economics of live streaming becoming unsustainable, Rilla offers a solution to capture second-order network value, some of which is already lost to third-party networks such as social media. By integrating interactivity and transactability, Rilla ensures that the value generated remains within the live stream, benefiting content creators and viewers.
Co-founder and CEO, Hal Smith Stevens, said: "Today's streaming models are outdated. Rilla Network enables fluid transactivity and audience interactivity, empowering viewers to engage actively with the content and the community. We're transforming live digital experiences."
Rilla Network has closed two funding rounds this year, including an angel and pre-seed round, raising a total of $3.5 million. The rounds were led by Blockchain Founders Fund and Blockchange Ventures, respectively.
"Rilla is redefining the live sports and entertainment experience by empowering viewers to engage and transact directly within streams. This paradigm shift creates unparalleled opportunities for both creators and fans, and we're excited to support the journey." said Aly Madhavji, Managing Partner at Blockchain Founders. On September 9, 2024 he published a Pione3rs newsletter about Rilla here.
Managing Partner at Blockchange Ventures, Ken Seiff, stated: "Rilla Network is transforming live streaming by addressing key inefficiencies and introducing innovative ways to enhance audience interaction and monetization. Its decentralized approach and ability to capture second-order value sets it apart as a true game-changer in live sports streaming. We're thrilled to support such a forward-thinking team."
The funds are being used to launch Rilla's protocol through a pilot program in collaboration with major players in sports streaming. The company plans to run high-profile pilots before seeking seed funding in Q2 2025.
About Rilla
Rilla Network is a decentralized live-streaming protocol. Rilla is based in Dubai, UAE with world-class team members contributing globally. The founding team has decades of experience in software development, content streaming services, Web3, blockchain, AI, and machine learning. Learn more at https://rilla.network. Follow Rilla on LinkedIn and X.
About Blockchain Founders Fund
Blockchain Founders Fund (BFF) is a Singapore-based early-stage Venture Capital Fund that invests in top-tier Blockchain startups globally. Their industry-leading go-to-market focused Venture Program aids seasoned and first-time entrepreneurs across key business functions to fast track growth. BFF has scaled many of the leading Blockchain startups and is always looking to connect with exceptional founders across the industry, including tooling, DeFi, and infrastructure. Follow BFF on LinkedIn and X.
