What is GazeTV (GAZE)? Is it GAZE a Good Investment?
Video streaming and video sharing have become huge industries over the past few years with YouTube, TikTok, and Twitch dominating the streaming and video sharing market. There really has not been a blockchain based streaming or video service platform that has seen much success.
GazeTV tried to change that, but the project has not amounted to much and it appears that the founders have rugged the project. This article will cover everything you need to know about GazeTV.
What is GazeTV?
GazeTV is a project on the Ethereum blockchain. The goal of the project is to become a video sharing and streaming option that uses the blockchain. It’s unclear exactly what benefit a streaming platform that is based on the the blockchain has compared to a centralized one, though.
Anyway, the general concept of GazeTV is the same as other similar blockchain streaming projects. Content creators can upload videos and stream on the platform and receive the native token (GAZE) as payment.
GAZE tokens can be staked on the platform for a reward. GAZE is an ERC-20 token, but the GazeTV project itself is not hosted on the blockchain. The only blockchain component of this project is the native token.
Is GazeTV a Legitimate Project?
We do not view GazeTV as a legitimate project. It has a lot of red flags that indicate the developers are not taking this project particularly seriously and we have little faith in this project to usurp the major streaming and video sharing platforms like Twitch and YouTube. Here are some of the issues we have with this project:
The first issue we have with this project is that it has anonymous founders. It’s not a privacy coin, so there’s no legitimate reason for this project to have anonymous founders.
It’s a little ridiculous that a project that is allegedly attempting to become a competitor to Twitch has anonymous founders. No legitimate venture capitalist would invest in a company that has anonymous founders.
Of course, GazeTV is not seeking out venture capitalists – they are attempting to get the average person to invest in their project.
Due to the anonymous founders, we would avoid GazeTV. The lack of doxxed founders greatly diminishes the legitimacy of this project in our opinion.
Content Creators Want Fiat Not Altcoins
Our other problem with GazeTV, and all the similar blockchain streaming platforms, is that everything is done in the native cryptocurrency token.
The problem with that is content creators simply do not want to receive some altcoin worth fractions of a cent with next to no liquidity. Imagine if Twitch paid out content creators in a native token rather than fiat currency.
That would mean the earnings of content creators would not even be fixed. It would vary based on the price of the token.
You can’t spend GAZE anywhere other than the platform, so content creators would obviously sell the tokens for fiat currency.
This leads to a problem – if there are no content creators on the platform, then there will not be any users on the platform.
This is basically what happened with GazeTV. There aren’t any actual content creators on the platform. It’s just people reuploading clips onto the platform. These clips are likely posted without permission, which will just lead to problems if the platform were to ever become large.
Is GazeTV (GAZE) a Good Investment?
No, we would not classify GAZE as a good investment. The token has a 24 hour trading volume of $165, which means you will struggle to even sell this token. You should avoid investing in projects that have such low trading volumes.
We can also look at the price chart of the token to get a good idea about what’s going on with the project.
The token had a big price increase from July to September and then dramatically dropped. This usually indicates fraud of some sorts. The most likely explanation is that the founders drained the liquidity pool of all Ethereum, which is called a rug pull.
To summarize, GaveTV is a video sharing and streaming platform that has an ERC-20 token as a platform native token. The only videos shared on the platform are random clips from famous streamers and other viral videos. There’s no original content on the platform nor do there appear to be any streamers on the platform.
The simple fact of the matter is that paying content creators in a native platform token is a horrible model. Content creators want to receive fiat currency, not some small cap altcoin that has a wildly fluctuating price.
With that said, this project would make a terrible investment. It appears that the founders have drained the liquidity pool, so it’s certainly a project that should be avoided as an investment.