“Janus Friis and Niklas Zennstrom, the creators of the three services and the technology behind them, have Google or Jobs-like status when it comes to new projects: they could start work on a stealth grocery list and people would clamor to see it, be part of it, do their shopping for them, invest in the grocery store. That’s not to say the Venice Project wouldn’t be worthy of attention otherwise but it’s certainly the reason TVP is already on its way to being one of the most-hyped broadband video/TV efforts in a category where start-ups are multiplying as fast as tribbles.
So what is The Venice Project? A code name for a service that would allow viewers to watch high-quality streaming professional video (movies, TV, etc.) using p2p instead of a central server and meshing TV with web capabilities like tagging and search. The plan calls for working with content providers to distribute legit content—no, this isn’t the first p2p effort to do that—and, as the FAQ says, to make it “as TV-like as we can, with programmes, channels and adverts.” They also want to mesh TV and web in terms of revenue—advertising with rev sharing. Limited beta started last month and the list is already closed to new would-be testers; so far, no live TV.”
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The Venice Project: Better Title Might Be YAITVP (Yet Another Internet TV Project)