I'm very interested, I've been thinking about video distribution for the
last few years but I’m a newbie with technical wise but I wanted a
distributed, p2p way of doing it but lacked the understanding on how to
do it, so I’ve been waiting and seeing what others who understand this
stuff could come up with and it sounds like your doing it! :D wooo!

Releasing it all under a free software or compatible license?

re paying options , I dearly hope this doesn't sound like some form of drm?