What is SingularDTV?
SingularDTV is a blockchain company that offers solutions in entertainment technology. Their business model is a tokenized ecosystem that links entertainers with their consumers while bypassing the numerous intermediaries that include recording labels and talent management companies.
This ecosystem comprises of musicians, artists, filmmakers and other artisan performers, their fan base, and SingularDTV.
By placing the entertainment industry on the blockchain, SingularDTV creates a peer to peer, transparent and decentralized platform that eliminates the traditional funding barriers and distribution intermediaries.
Their goal is to create a decentralized entertainment industry and transform how we produce and consume entertainment.
SingularDTV offices are based in Zurich, New York, San Juan, Los Angeles, Tokyo and Hong Kong.
The original founders are Zach LeBeau (CEO) and Kim Jackson (President of Entertainment). They were later joined by Joseph Lubin, co-creator of Ethereum and Arie Levy Cohen, formerly of Morgan Stanley. This makes a quite experienced team.
SingularDTV operates under a CODE governance structure which is a crowd-funded entity. In this model, equity is shared between token holders but they neither take part in the decision-making process nor the development of the platform.
The CODE has two components; one is centralized while the other is decentralized. The decentralized part of the CODE is based on the Ethereum blockchain as an executable Smart contract.
The token (SNGLS) represents the intellectual property accrued from the projects run by SingularDTV. The centralized aspect, on the other hand, represents company structures which are responsible for the management of funds and projects run by SingularDTV.
They also have a suite of applications that are already running on the platform. The brand defining application, which is in the first wave of a series of applications that will be deployed, is Tokit.
The first wave is primarily concerned with the development and funding of projects, the second wave includes applications that are auxiliary to the first wave while the last wave includes applications concerned with the distribution of these entertainment projects globally.
What Is Tokit SingularDTV?
Launched in November of 2017, this revolutionary application forms the core of SingularDTV projects. It is the platform that allows other projects to be developed and launched on SingularDTV. Tokit allows users to create and customize projects and grow their audiences from scratch. Once complete, the projects are moved to a different application for distribution. Ethervision is the application that is concerned with the distributor functions of SingularDTV.
How Does Tokit Work?
This platform allows the different parties to create, launch and manage intellectual property in a transparent and decentralized way. It operates on a token system. While it has its own native token, users can also create their own tokens on the platform which represent the intellectual properties of their projects.
Tokit is also a crowdfunding platform. The Tokit launchpad allows users to create and launch their own digital tokens. However, the Tokit launchpad uses a different fundraising model that is committed to exchanging value.
When investors contribute money for a project, they are given tokens which represent intellectual property value in exchange, this generates revenue stream that is linked to the creator’s intellectual property.
Tokit is the platform where users can launch their projects, the Tokit launchpad is a crowdfunding platform where users can fundraise for their projects.
SingularDTV allows artists to interact with their fans in a symbiotic fashion that excludes intermediaries. This relationship allows artists to receive full economic value for their creative work and earn from it over a long period of time.
The fans get to select which projects to support and which to shoot down, when they rally behind a project the value of that project increases commensurately and this in turn creates a steady flow of income from that project.
The tokens in this system represent the intellectual property of the artist. Fans can use their tokens to pay for content on the platform. In addition, when fans spread word around about a certain project and they get others on board, the value of the token goes up.
Fans holding that token will benefit as the value of that token goes up. In other words, the more the community grows, the more each fan stands to gain.
What problem does SingularDTV solve?
The case of artist- record label relationship gone sour keeps repeating itself time and again. This can inhibit the creative potential of artists and even cause them to leave the industry for “greener pastures” elsewhere.
The cancer of this industry is the presence of exploitative gatekeepers who not only determine what content gets to the fans but also at what frequency and rates. The artist is relegated to the sidelines as the middleman takes center stage.
This means that the artist has absolutely no reins over the revenue stream from their intellectual property. The system created by intermediaries’ works in this way:
Exploitative contracts with record labels
These are deals that are signed between artists and record labels or management companies. The record label will usually spot untapped talent and approach the artist to sign a promotional deal with them. The artist being eager to get whatever help they can usually gets enticed by a seemingly lucrative financial bonus or a surreptitious deal. So they jump at the offer.
After this, the artist basically becomes the underdog of the record label with absolutely no control over their intellectual property.
The record label will take over the life of the artist in a bid to recoup all the money spent on the artist. They will be pushed harder and harder to produce more and more.
Worse still, they earn less in comparison to the revenue generated by their hard work. In most cases, the artist succumbs after years of hard work with nothing to show for it, as the record label laughs all the way to the bank. And the story keeps repeating itself time and again.
SingularDTV exists to address this exploitation and allow both the artists and their fans to reap maximum rewards.
They have created a system that has done away with the need for record labels, management companies and other intermediaries who handle the management and distribution of intellectual property.
They have created a suite of applications to handle each step of the process and connect the artist directly to their community of supporters.
How does SingularDTV Solve the problem?
SingularDTV takes back power from the hands of the middlemen and hands it over, back to the artist.
Songwriters and musicians who launch their music on SingularDTV’s platform have full control over their music and the revenue that it generates.
Fundraising for a project on the Tokit platform tokenizes the intellectual property and their fans can support any piece of work that they choose to and consequently it increases in value.
This also creates a feedback mechanism by which the artist can hear back from their fans and respond with what the fans like.
Currently, record labels have fully taken over the image of the artist so much so that even tweets, social media posts and even public appearances are stage managed. There is no genuine connection between artists and their fans. SingularDTV has created a dozen applications to address this problem.
TOKIT
As mentioned above, Tokit is a dynamic application that allows users to create their projects on the blockchain. Tokit.io launched in November 9, 2017 and has managed to generate a lot of revenue so far through some of its groundbreaking projects some of which include films and songs.
By allowing them to launch their projects on the blockchain which is a decentralized platform, the role of intermediaries is eliminated.
Through the Tokit launch pad, artists can fundraise and tokenize their intellectual property, giving them full control over the project and the revenue stream it generates.
SINGULARX
SingularDTV has a decentralized exchange known as SingularX. It is on this exchange that tokens created through Tokit can be traded. So far, tokens exchanged on the platform include ETH, SNGLS, SNGX, and CENNZ. With more and more projects being launched on Tokit this exchange is set to get busier and more engaged. SingularX is a partnership with Studio Centrality, which is a blockchain company based in New Zealand.
SingularDTV utilizes Web3 technology to transform the entertainment industry landscape. It equips artists with the power to create, fundraise and manage their intellectual properties while bypassing the middleman (agencies, distributors and record labels). In the long run this will create a sustainable entertainment scene where artists and creators of art get their days due as they rightfully deserve.
What makes SingularDTV better than its competitors?
SingularDTV competitors include all the traditional companies that manage the entertainment industry. Netflix is one good example. Unlike Netflix, SingularDTV is highly scalable and adaptable.
For example, SingularDTV will allow African artists to create and launch African music while it will allow Chinese artists to create and launch Chinese content on the same blockchain.
Netflix on the hand has limitations when it comes to adaptability, which in turn affects its scaling potential.
SingularDTV is also able to circumvent government regulations specific to the country of registration. It is a decentralized and borderless platform that is not held back by traditional rules that cripple the growth of the entertainment industry.
SingularDTV has also created a model where entertainment content can be tokenized. By tokenizing say a film, it can be sustained in the long run by the community of supporters who buy its token.
Fans will need to buy the token to watch the film or buy tickets to watch consequent episodes or to download it, the more the fan base grows the more revenues will be generated and this will create sustainability for that project. Fans can also earn from the film by holding onto their tokens as they appreciate in value. SingularDTV will be focusing various projects around this model in the future.
How can SingularDTV be categorized?
SingularDTV is a digital entertainment blockchain platform; it is also a decentralized exchange with its own unique cryptocurrencies.
SingularDTV’s vision on security?
Security is paramount for any blockchain project. As much as the blockchain itself has inherent security features, incidences such as the DAO attack have made it necessary to impose extra diligence in reinforcing security on the blockchain.
So aside from cryptographical techniques, SingularDTV is secured further by an auditing mechanism called The Guard. This ensures that all transactions are legitimate and that the Smart contract system has no flaws.
SingularDTV further offers a 30BTC bug bounty.
Examples of SingularDTV use cases / applications.
SingularDTV will have a use case similar to what Netflix and Youtube are doing now. It will give consumers the ability to select content that appeals to them and by listening to it; they will be increasing the value of its token.
Fortunately, with this model, the whole process will be decentralized and transparent giving maximum benefits to the artists and their fans. Tokit is the first application to be launched on the platform. It allows users to create projects on the platform which can then be published in a live environment through Ethervision.
The Tokit launchpad is a platform that allows users to fundraise for their projects and create tokens for the intellectual properties.
There is also a codex that deals in research and design of the tokenized ecosystem. SingularDTV has a legal repository that regulates the projects created in the ecosystem. So far, Tokit is the most popular.
A company called Gramatik has tokenized on the Tokit platform. Tokit is also launching a documentary film called “The Trust Machine” by award-winning filmmaker Alex Winter.
This film is about the history of blockchain technology and how it has eveolved over time across the globe.
Happy worker is another narrative that will be created on the Tokit platform that will be directed by Duwayne Dunham and executive-produced by David Lynch
SingularDTV is a one of its kind blockchain project that is set to transform the entertainment landscape in many ways. With a rock solid team behind it that is moving fast, it hopes to streamline the production and distribution of artistic content and redirect back the revenue streams to the artists. At the end of the day, they are the rise and fall of the industry.