Sollywood believes it can achieve its goals of disrupting the $200 billion Cable TV industry by leveraging blockchain technology. With its “market-driven platform fuelled by its own digital currency Sollars and $ense,” Sollywood is ready to march ahead, recently announcing its creation on BitcoinTalk.
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Disrupting Traditional Entertainment With Sollywood
This project was inspired by the age-old Hollywood pricing problem. Sollywood founder Solomon Adekale learned of this problem while studying in film school. Adekale recollects:
“Back in film school, I realized the pricing nonsense of Hollywood didn’t actually start at the top, it started at the very bottom with us; student filmmakers. ‘From the very first day we start shelling out thousands of dollars for that education not once are we taught that our films are worth anything but the fee we have to pay to have them shown at someone else’s film festival. It should be worth something. And that’s sort of how it hit me.”
To combat this problem, he started Sollywood TV, a self-proclaimed “free market where any content creator or provider could sell their content at a price viewers would be prepared to pay.” The goal of this platform is to make the professional entertainment content market more flexible, providing a more accurate reflection of consumer valuations.
Once the platform is live, Sollywood will charge content creators a 10%-20% fee on each sale, allowing creators to keep 80%-90% of the revenue. The platform’s development team says that such generous fee schemes are “unheard of in the (entertainment) industry.”
Cryptonomex, OpenLedger, ShareBits and muse will partner on the technical developemt of this project. They are working on a video, which will begin production in April, and will show how “New Money” will disrupt the $200 billion Cable industry.
Adekale and his New Money partners will host an Initial Coin Offering (ICO) to fund development. They will be selling SoLCerts, a crypto-token that represents a future Sollar — the cryptocurrency to fuel the platform — or 100 $sense at present valuations.
The ICO will last 14 days and will be handled on OpenLedger, with the account “ccedk.escrow2.” The auction will utilize the new escrow services offered by CCEDK ApS.
100% of all funds raised from the SOLCERT auction will go towards promoting and achieving a successful new model for content creators to sell their work.
You can view a promotional video for the “New Money” project here:
To learn more about the SolCert presale please visit Sollywood TV’s bitcointalk thread at: https://bitcointalk.org/index.php?topic=1407719.0
To create an OpenLedger account and participate in the crowdsale please go to: https://openledger.info
To read more about Sollywood TV and the New Money project please go to: https://medium.com/@sollarsandsense/new-money-can-this-really-be-the-final-nail-in-cable-tv-s-coffin-b8727d74e55a#.96s3tirzl
Follow New Money on Facebook at: https://www.facebook.com/newmoney777/
Contact New Money at: [email protected]
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