SingularDTV (SNGLS) is the first decentralized digital content distribution platform built using Blockchain technology. Its goal is to create a transparent ecosystem, where artists and content creators can manage and distribute their productions through a peer-to-peer system to their fans directly. Additionally, SingularDTV enables artists to protect their rights and royalties by issuing their own tokens.
History of SingularDTV
The Ethereum-based SingularDTV was created by Zach LeBeau, Kim Jackson, Joseph Lubin, and Arie Levy-Cohen, in partnership with the well-known ConsenSys. Their vision is to create a Netflix-like service that will enable artists to efficiently deliver their content to consumers while eliminating the need for an intermediary institution.
Its launch was initiated with an ICO in October 2016, where the company managed to raise $7.5 million in 15 minutes. Half the tokens of the maximum supply (1 million) were available in the crowd sale, while 40% was kept stored at the company’s vault and the remaining 10% was made available to the core investors.
How it Works
The Proof-of-Stake SingularDTV project is operated by a semi-autonomous system named CODE (Organized Distributed Entity) and consists of 11 modules that provide content creators with a complete suite of tools to freely build their own economy with absolute governance.
The 11 modules are:
Tokit is the most important module of S-DTV. It enables artists to issue their own tokens in the S-DTV ecosystem. This way, they will have ownership of Intellectual Property (IP) and complete control of their rights, revenues, and royalties.
Other modules offer fundraising abilities to new artists, as well as an exchange where intellectual property can be traded. While token holders do not have any governance or voting rights, they can benefit from the success of a tokenized music album, TV series, or other artwork.
By selling their tokens, artists can run an event similar to an ICO to raise funds for projects-in-development. With this said, the entertainment sector could be facing a new era, where projects will be backed and sustained by the audience directly. As the success of a project grows, the value of the tokens will rise, being mutually rewarding for the artists and the token holders.
S-DTV will also deploy the TVOD (Transaction Video-On-Demand) portal, where end users will be able to watch their favorite content.
Price Forecast & How to Buy
In January 2018, SingularDTV’s token price was $0.2853, with a market cap at $171.2 million, the SNGLS tokens are considered a good long-term investment. The project did not receive much hype or significant marketing exposure; therefore, it stayed under the radar for a while. However, as artists have started looking into S-DTV’s platforms (e.g., Grammatik), potential cooperation with a very popular artist could give a great boost to SingularDTV’s token.
SNGLS tokens can only be traded for Bitcoin and Ethereum. Therefore you should exchange your fiat money at a reputable exchange and then trade them on a cryptocurrency exchange for SNGLS.