In the past 15 years, advanced technology has visibly impacted the entertainment industry. Powered by companies like Amazon Prime, Hulu, HBO, and Netflix, video on demand subscriptions have almost made cable TV obsolete. High-speed content delivery via the Internet has severely damaged the relationship between movie theater owners and consumers who are hungry for better, more powerful entertainment that is easily accessible on smartphones and tablets.
Disclosure: This is a Sponsored Article
Further technologies like 3G and 4G have untethered consumers from the conventional TV set. The convenience of watching a movie on Netflix at any time and from any location beats whatever type of content a television set can provide. However, a new wave of technological disruption in the entertainment industry is right around the corner, with blockchain technology at its core.
The battle between VOD and BVOD has just begun
Binge Media and Slatix Solutions, wholly owned subsidiaries of Blockchain-based company Slate Entertainment Group (SEG), to develop a decentralized video-on-demand service. The blockchain-based entertainment utility protocol will feature a multi-layered network made of Binge (the BVOD service), a masternode network, and go-to mobile app SLATIX for ticketing and entertainment.
Binge will use a distributed ledger to introduce decentralized video-on-demand streaming. To ensure behavioral analytics and sharing transparency, the media platform will leverage properties pertaining to Blockchain technology. The main objective is to guarantee equitable sharing between content providers and creators, as well as valuable analytics to help creators make better content.
Decentralized subscription-based streaming
The main purpose of Binge is to become the world’s first commercial platform that uses distributed ledger technology to provide scalable, affordable VOD. Token holders of Slate will become exclusive platform members with full access to real-time payments, no geolocation restrictions, affordable pay-per-view and subscription fees, and more.
The purpose of SLATIX — Slate’s ticketing system — is to decrease end-user ticket fees and prevent counterfeit ticket sales. Given that all transactions are secure and transparent on the blockchain, all information provided by platform users will be tracked, shared, verified and safely stored. As opposed to conventional ticketing platforms, on Slate all issued tickets are forgery resistant, immutable, and instantly transferable. For a better understanding of how SLX tokens can be used to buy or make tickets, make sure to watch the promotional video below:
Preparations for mass adoption in the entertainment industry
Hong Kong-based crypto exchange, HitBTC, recently partnered with Slate Entertainment Group to have the SLX token listed on their platform. SLX will be hosted with trading pairs against Tether and Bitcoin on the HitBTC exchange. Following the initial coin sale, having SLX out in the open market will potentially increase adoption while also helping Slate expand the business model to new markets.
Earlier in May, SEG attended the Cannes Film Festival where it triggered quite the buzz among the entertainment industry with its unique approach to disrupting centralized video-on-demand platforms. Slate managed to acquire “Beyond Bitcoin”, a crypto-related documentary, paving the way to successfully expanding its online streaming platform, Binge. At Cannes, Spanish film festival SIFF has joined the mission, being the first entity to agree to adopt the tokenized ticketing app and start selling tickets in SLX tokens. Beyond Bitcoin trailer can be seen below:
Slate is halfway through completing its mission and the presale is already live. With a soft cap of $20 mln, the current discount for buying SLX coins is 45 percent with a 3 percent bonus. The pre-sale ends June 9!
SET UP ALERTS: Sign up for early email alerts on the top news and ICOs.