The movie industry is huge but is not free of flaws
An activity which has been around ever since it was invented, is watching movies. Most people watch movies on a regular basis with many watching movies every single day. It was even revealed just recently, that Netflix has surpassed 120 million subscribers on its platform, which shows how big the market and demand is. But even though people enjoy movies and usually pays for them, they are still fraud associated with the industry. KSI, a famous YouTuber had an incident last year where his movie, Laid In America, had been illegally downloaded more than 522 thousand times which is obviously a huge financial loss for him, the other actors and the production company behind the movie. So can anything be done against this so creators can properly be rewarded for their work? Nollycoin, a crypto startup believes they might have come up with a solution that could better the movie industry so creators are fairly compensated for their movies. By using blockchain technology and digital tokens, the distribution of movie content and the royalties generated from them could be fairly controlled by decentralized code.
How a decentralized movie platform could prove itself superior
The way the Nollycoin movie platform would function is that movies are stored in a decentralized database and are controlled by smart contracts. Smart contracts are a great management tool in that no trust is required between two parties as the smart contract is 100% controlled by code and verifiable by every party. This means that royalties could automatically be distributed to the appropriate parties without any intermediaries. By having no middle man, fees would be lower which equates to higher profits for production companies and content creators.
Through the Nollycoin ecosystem, creators can find financial support for their upcoming projects so their dream can become a reality. Shareholders of the future project can then be included in the smart contract that distributes revenue generated from the movie. Users of the Nollycoin platform can also use the Nollycoin to buy services and access to movie content.
As blockchain technology starts to take over many aspects of the modern industry, it only seems natural that an industry as popular as the movie industry also gets integrated with the newest and most innovative technology out there.
To fund their project, Nollycoin is raising funds through an initial coin offering (ICO), selling their ERC20 token NOLLY. This token is going to be an essential part of the Nollycoin ecosystem as it is used to access services on the platform and to buy access to video content.
The token sale started the 1st of April
The token sale ends the 30th of April
32000 NOLLY = 1 ETH (Bonuses apply to different phases, see picture)
- Total amount of tokens minted is 500,000,000 NOLLY
- A maximum of 350,000,000 NOLLY will be for sale during the ICO
- Hard cap is 6,000 ETH
- Soft cap is 2,000 ETH
The team behind Nollycoin has combined experience in relevant sectors to the producing of movies plus the legal and financial site of the movie industry. These are just some of the members of the Nollycoin project
To view the entire team, learn more about them and their advisors, visit the official website at: https://nollycoin.com/ or read their whitepaper here: https://nollycoin.com/wp-content/uploads/2018/03/Nollycoin-White-Paper.pdf
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
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