Did you know…
- Netflix alone spends $20B in creating content annually
- Only 1 in 2200 shows pitched to a network makes it to a series in the USA
- 90% of content does not get fully monetized
Here’s the problem:
- The Content Licensing model is antiquated
- Licenses can take months to negotiate
- And even then, content is controlled by middlemen
In part one of this two-part blog series, we introduced ourselves and our vision. In a nutshell, ritestream is a platform dedicated to the creation and monetization of film and tv NFTs.
Here’s a deeper dive into what that means and how ritestream is tackling these challenges.
First up: The 3 Layers of the ritestream Ecosystem:
1. A launchpad, where film and tv projects are presented by creators and funded by the community
2. A marketplace where content is distributed and monetized
3. The App: where content can be viewed and consumed. Audiences can rate and engage with content to earn tokens.
Blast Off: A Look Inside the Launchpad
RITE COINS — Creators and filmmakers will place their project idea on the platform where the community will fund it via a native token — a RITE coin.
CREATIVE OWNERSHIP — Each investor will hold fractional ownership in the project represented by the number of tokens purchased.
For example, the different tiers of ownership could look like this: a $500 tier, a $1,000 tier, a $10,000 tier or even a $100,000 tier and so on.
Tier levels will have different ownership rights, i.e., larger tiers could receive an “Executive Producer” credit on the film.
THE WHO — Investors can range from individual investors to major institutions.
For example, if the creator of a project previously hosted on Netflix decides to do their next project on ritestream, Netflix could be an investor alongside the community.
This is GAME-CHANGING.
THE TOKENS — Tokens purchased for each film project can be traded on the marketplace during the film’s production. Traditionally, if you invest in a film project, it could take YEARS to earn any sort of return.
THE INNOVATION — Once the project is completed, it is minted in the form of a final NFT and distributed globally.
Each investor is considered a fractional owner of the NFT and will benefit from the project’s revenue alongside the creator. The NFTs can be traded and sold post-production as well.
THE OPPORTU-N-F-T — As part of the production process, the creator can curate bonus content that will be minted as separate NFTs, post-production. These can be sold to collectors and traded, with additional revenues flowing to the creator and investors.
THE FACTS — The ritestream launchpad will revolutionize the film and television industry by putting the power back into the hands of creators — they will no longer be at the mercy of the studios, leaving them in control of their own destiny.
THE LANDING — Once the project is in its final form as an NFT, it can be distributed and consumed in many different ways. One way is through the ritestream app, where people can watch the content and engage at various points by rating scenes, taking polls, and rating the final product.
Engagement will be rewarded with RITE tokens, which have value and can be used to purchase more content or specially-curated NFTs. In addition, usage via the app will generate vast amounts of data, all factors valuable to advertisers.
This project will forever change the entertainment industry: how people consume content, but mainly how artists and entertainments can leverage their work to connect and engage on a deeper level with their fans. Want to follow along? Visit ritestream.io and join our Discord Channel for the latest rundown of how to get in on this early!