Then the fediverse is already there. The video hosting service PeerTube uses bittorrent to distribute the video among viewers. There were some plans at one poi

Then the fediverse is already there. The video hosting service PeerTube uses bittorrent to distribute the video among viewers. There were some plans at one point for another project which would deal with music and would host the media on IPFS. Sadly I've never seen any progress on it, despite the idea sounding very good.