PeerTube is an open-source and decentralized video network, with videos hosted across thousands of interconnected servers, from large YouTube-like public servers to smaller ones set up by individual creators.
You can browse and watch videos from over a thousand different servers—the app calls them “platforms” in some places—and you don’t need an account with any of them to use the mobile app. You can also favourite videos, subscribe to channels, follow your favourite creators (regardless of the server they’re hosted on), create custom playlists, and add videos to a watch list.
Created in 2017 by a single developer, PeerTube is now maintained by the French non-profit Framasoft.
PeerTube uses the same ActivityPub protocol as Mastodon, Meta’s Threads, PixelFed, and other services, meaning you have a bunch of servers to play videos from.
I can imagine that funding for a video based platform is going to be a bigger challenge than for text based posts. I also post my own videos to a Peertube server.