That’s also how the company plans to generate revenue from its new service.īefore shutting down BitTorrent Live, the company explored the idea of spinning the platform out on its own. As of last August, Peiwo had 10 million registered users - a million of whom used the app every month.īitTorrent Live will also leverage Tron’s expertise with cryptocurrency - using BTT token, a native cryptocurrency token launched this January - for transactions within the platform. Sun said the company hopes to turn BitTorrent Live into a “boundary-free internet, but also be at the forefront of a new content experience.” Launching a social media app is a natural progression for Sun, who also founded Chinese social media app Peiwo. The spokesperson declined to comment on whether the company has roped in any famous celebrities or content creators - as is common practice.īitTorrent CEO Justin Sun took over the role last year after his blockchain startup Tron acquired the file-sharing company and long-time BitTorrent CEO Rogelio Choy departed. Additionally, those who wish to try the app now can apply as a beta tester starting today. “Decentralization will be in full effect however, once open beta wraps up later this year.”)īitTorrent Live will be available to beta testers in Q2 of this year and available to the general public by year-end, the spokesperson said. (The spokesperson added that during the beta testing period, BitTorrent Live won’t be fully decentralized. That’s the vision we have for BitTorrent Live,” the spokesperson said. “When you’re decentralized, you’re connecting consumers to consumers, businesses to consumers. This reduces the cost of content distribution and removes intermediaries that seek to charge a “finder’s fee,” the spokesperson told VentureBeat by email. It is still built on top of a decentralized network, the same peer-to-peer technology that powers BitTorrent’s file-sharing client. The central idea behind BitTorrent Live remains largely unchanged, however. A company spokesperson confirmed that the TV element won’t be part of the new BitTorrent Live. This is a departure from the previous incarnation of BitTorrent Live, which offered access to a range of free and paid TV channels, including Bloomberg and CBC. The veteran file-sharing company is positioning BitTorrent Live as a social media app akin to Snapchat and Bytedance’s TikTok that will enable users to create and share content and connect with people with similar tastes. Live is not ready for general availability yet, but the company is accepting applications from beta testers. The company is relaunching BitTorrent Live, a Sling TV-like service it first introduced in 2011 and shut down in 2017, as a social media app for Android and iOS platforms. Missed the GamesBeat Summit excitement? Don't worry! Tune in now to catch all of the live and virtual sessions here.īitTorrent, which has been looking for ways to expand since it was acquired by blockchain startup Tron last year, today announced it is reviving one of its most ambitious services.
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