Forward Research has announced its acquisition of Odysee, a crypto-based censorship-resistant video platform. With this strategic acquisition, Forward Research aims to weave Odysee’s seven million-strong user base into the fabric of the Arweave network, a decentralized data storage solution heralded as the “permaweb.”
Arweave is a decentralized storage network that leverages blockchain technology to create a permanent and immutable data storage solution. Designed to store data permanently, it enables users and developers to pay a one-time fee for perpetual data storage, making it a revolutionary alternative to traditional cloud storage services that require ongoing payments. This innovative approach is aimed at preserving valuable information indefinitely, fostering a sustainable and censorship-resistant web infrastructure.
Sam Williams, the visionary behind the Arweave blockchain and the driving force at Forward Research, illuminated the urgency of their intervention. “We stepped in to save it from going offline,” Williams emphasized, underscoring the precarious state Odysee found itself in, teetering on the brink of extinction due to regulatory pressures that had claimed its predecessor, LBRY.
The demise of LBRY, under the weight of overbearing US regulatory scrutiny, once cast a long shadow over Odysee. Yet, Williams sees this challenge not just as a rescue mission but as a long-term investment in the digital future.
LBC support will soon be dropped, according to Odysee CEO Julian Chandra.
“It’s official, we are building Odysee on a technical stack called Arweave. For laymen, what this means is we now have the tool to safely and successfully provide users with a system that ensures total censorship resistance,” Chandra posted on X.
A Strategic Acquisition
While the financial specifics of the acquisition remain under wraps, Williams was keen to highlight Odysee’s impressive scale. This acquisition is not just about numbers; it’s a strategic play to disrupt the existing monopolies in social media, with aspirations of positioning Odysee as a viable contender against giants.
“The goal is to topple the monopolies that currently exist in social media. We haven’t won until it replaces Twitter,” Williams said.
Odysee’s allure lies not in its crypto foundation but in its staunch commitment to free speech and user rights—a commitment that dovetails seamlessly with Arweave’s mission. Arweave, renowned for its capacity to store data entirely on-chain, presents a stark contrast to Ethereum, which can only manage metadata or links to large files. Williams described Arweave’s capabilities as the “permaweb,” a permanent, immutable web that aligns perfectly with Odysee’s ethos.
