MovieBloc Is Utilising Blockchain To Create Participant-Centric Film Ecosystem
The Blockchain revolution keeps transforming all sectors of industry and human life. It is becoming ubiquitous and is going to change the way most industries work in the coming years.
The movie industry, which was worth $136 Billion in 2018, is no exception, as the number of Blockchain platforms seeking to revolutionalize and disrupt it is growing quickly. The quest to decentralize the sector to bring all players, including the viewing public, to share revenues has become a reality through Distributed Ledger Technology.
QBITtimes delved into MovieBloc (MBL), a Blockchain start-up premised on the decentralisation of movie and content distribution. Their target is to build the most prominent and participant-centric film ecosystem.
MovieBloc’s Business Model
As a Blockchain-based film and content distribution platform, it provides creators with transparent revenue sharing, audience data, and equal screening opportunity. The viewers, on the other hand, will access various movies and contents and get rewarded for delivering curation, subtitle, and marketing materials to the ecosystem.
It further allows the consumers (audience) to be part of the fundraising process as well as interacting with the creators from the pre-production to the distribution stage.
Chris Kang, CEO and Co-Founder of MovieBloc, explained notably:
“As a Dapp service, our goal is to bring mass adoption to the Crypto market. We are leveraging our existing asset, KMPlayer, which is a multimedia player with 812 million total downloads and 500 million monthly playbacks around the world. We will push content available on MovieBloc to the player, so our users can enjoy these curated films and generate views and transactions.”
MovieBloc is built on the Ontology Blockchain, a provider of high-performance public blockchains, which includes distributed ledger and smart contract systems. It uses a binary token (ONT and ONG) pattern.ONT is a coin used for staking in consensus, whereas ONG is a utility token used for on-chain services. Moviebloc will be synced with Ontology’s DPoS.
MBL has a 30 Billion total supply with a Token Distribution structure of:
43% – MBL Ecosystem
10% – MBL Foundation
15% – Team
10% – ONT Foundation
11% – MBL Airdrop
3% – Private Sale
8% – Initial Exchange Offering
The beta launch of the project is scheduled for the third quarter, and the official version is expected to be available in the 4th quarter of 2019 respectively. “We will also push further to make a mobile app on 1st half of 2020. We will start with a light version this year and keep adding more functions, including market layer and fundraising layer,” Kang told QBITtimes.
The founder intimated that, In the long-term, fundraising function would not be available until they have a good number of users and creators on the platform. However, their focus is to strive to make all of the functions available in the next four to five years.
Kang expressed his team’s profound gratitude to the MBL community and holders for their unflinching support. He maintained that though they started small six months ago, the accomplishments so far is immense.
“We want to state this is not our final goal, and we keep striving to reach bigger milestones in the future,” Kang said. “Thank you again for your support and faith in our project!”