Xfinite and Eros Now Expand Partnership for Blockchain-based Content Engagement Program on Algorand

Xfinite and Eros Now, a leading over-the-top (OTT) South Asian entertainment platform owned by global entertainment company Eros STX Global Corporation, announced it had deepened its partnership with Xfinite's Mzaalo platform, a gamified video streaming service on track to have 10M users by year-end. The association further establishes Eros Now's footprint in advertising video-on-demand (AVOD), a still-developing segment of the India streaming market with significant growth potential, while allowing Eros Now to continue building its core subscription video-on-demand (SVOD) service.

This partnership also adds to the 25 premium linear TV feeds and VOD platforms and plans to expand further to reach 200 content partners. Given Xfinite's innovative business model, this agreement also puts ErosSTX in a leadership position regarding digital asset growth and the use of blockchain technology. Algorand will serve as the foundational blockchain infrastructure as Xfinite selected the scalable blockchain to accommodate its accelerating adoption.

Mzaalo is a decentralized application ("dApp") built on Algorand blockchain technology which operates a gamified streaming service offering more than 15,000 hours of premium content, as well as new mechanisms for engaging with content and other consumers. The Mzaalo dApp provides consumers with free access to premium content, including films, original series, short-form content from Eros Now and other media platforms, and a range of interactive features. Mzaalo consumers are rewarded for their engagement via enhanced social engagement features and innovative incentivization mechanisms, including a digital token – the XET token.

Xfinite is an entertainment platform built around the digital token, XET, an Algorand Standard Asset. The XET token serves as the native currency of the Xfinite ecosystem and functions as a unique value exchange and governance mechanism for all stakeholders, including users, brands and influencers, and content producers. The XET token will offer its holders many benefits, including unique value exchange and tap into economic incentives the Xfinite platform provides. Mzaalo, Xfinite's first entertainment application, provides consumers with free access to premium content, including films, original series, short-form content from Eros Now, and other media platforms, as well as a range of interactive features. Mzaalo consumers can earn rewards for their engagement that can be spent across fan tokens, merchandise, games, and charitable giving through over 500 brand partners.

By "tokenizing" attention and engagement, consumers will be rewarded for their increased viewership, and brands and influencers are given new ways to engage with their audiences. In this new ecosystem, consumers are treated equitably as partners in the relationship, and brands and influencers can vastly increase their ROI through hyper-targeted and measurable user engagement. The ErosSTX partnership with Mzaalo is the first of its kind anywhere in the OTT space globally.

India and emerging markets worldwide are characterized by a crowded digital marketing space growing exponentially as brands shift away from traditional media such as print and television to capture digital growth. In 2020, India had nearly 700 million internet users across the country. This figure was projected to grow to over 974 million users by 2025, indicating a big market potential in internet services for the South Asian country. India is now on the cusp of a massive revolution with digital marketing making inroads and brands looking beyond urban markets. The tokenization approach offered by Mzaalo to monetizing engagement is uniquely suited to the Indian digital consumer who currently has a plethora of content choices available.

About Eros Now
Eros Now, a division of Eros STX Global Corporation, is the world's leading Indian OTT platform with over 19 million premium paid subscribers and 224 million registered users from over 150 countries across the globe. It offers endless entertainment hosting one of the largest movie libraries (over 12,000 digital titles), as well as premium original episodic series, music videos unmatched in quantity and quality. Eros Now also has a deep library of short-form content, totaling over 4,400 short-form videos, including trailers, original short exclusive interviews, and marketing shorts. Eros Now was named the 'Best OTT Platform of the Year 2019' at the British Asian Media Awards. The platform has also won awards for original content and marketing at the SCREENXX 2020.

About Xfinite
Xfinite is a blockchain-based platform designed to re-establish trust between consumers, content creators, and publishers. Through viewer-based rewards, the Xfinite ecosystem helps the media and entertainment industry combat advertising fraud by increasing transparency and creating a new habit of engagement. Xfinite has established partnerships with global corporations to drive innovation and create new use cases for blockchain technology. Recent collaborations include: Dailyhunt, which has 280 million active users; SpiceJet, which annually flies +60 million passengers across India; and Eros Now which has 36.2M paying subscribers and 216M registered users.