Contentos price is up over 32% today, making it the biggest gainer on Crypto.com. With a market cap of $115 million and a 24-hour trading volume of $164 million, Contentos is building up momentum today. Let’s look at Contentos and its COS token and see why the price is rising today.
What Is Contentos?
Contentos describes itself as a decentralized global content ecosystem. According to its official website:
“The vision of Contentos is to build a “decentralized digital content community that allows content to be freely produced, distributed, rewarded, and traded, while protecting author rights”. Contentos strives to incentivize content creation and global diversity and return the rights and value of content to users.”
The Contentos platform features include a P2P Revenue distribution system, which keeps the value of creation open, transparent and returns rewards directly to its users.
In addition, Contentos includes a decentralized traffic distribution network, trackable copyright transactions, and immutable credit systems.
Contentos’ biggest apps is Cos.TV, the first video platform powered by the Contentos blockchain. Cos.TV allows users to watch videos, share content, and get rewarded with COS.
COS is the native cryptocurrency to the Contentos platform that operates on the Binance Chain (BEP2)
Why Is Contentos Price Rising?
I reported on Contentos last week when the price increased by over 31% due to their partnership with Japanese NFT Entertainment and Experience project HUG HUG.
Today, Contentos announced on Medium their VEST Loans Bidding event, allocating 50 million VEST over two separate rounds.
Users will be able to get a loan to earn very high weekly BP Voting rewards. The event requires users to deposit a certain amount of COS to bid. For more information, check out the official announcement.
It’s clear that the contents ecosystem is growing, and a $100 million market cap is relatively undervalued for the project. As such, it comes as no surprise that we’re seeing bullish momentum for Contentos as traders are flocking to the platform.
Earning VEST tokens for watching videos is a great model that incentivizes user interaction. A similar model was used before in crypto projects like Steemit, which can be considered the pioneer of blockchain-based content platforms.
Overall, with the proper marketing and content, Contentos can easily double or triple in value in the short term. Still, crypto markets move quickly, so some risk should be assumed when trading.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.