Blockchain Comes to Movie Industry as White Rabbit Signs Movie Deal with K5 International
As it has been announced, blockchain-based video streaming startup White Rabbit, that is aimed at making watching movies and TV series online legal, entered into a strategic partnership with K5 International. K5 International belongs to financing and production company K5 Media Group and is well-known for its Oscar-nominated films.
Under the conditions of the agreement, White Rabbit users will get access to K5 50+ movies library, moreover, K5 co-founder and entrepreneur Daniel Baur will join the White Rabbit Advisory Board. Nevertheless, terms of the deal and further details were not disclosed.
A new member of the White Rabbit Advisory Board Daniel Baur said:“I have been actively searching the blockchain space for over a year, looking for companies that can have a massive impact on the film industry”. “With White Rabbit, I saw a product that properly integrates blockchain and embraces the existing entertainment industry and fans in a unique way. We believe White Rabbit will disrupt the film and television industry, making it the best place for fans, talent, distributors, sales agents and investors”, he added.
Being aimed at fighting piracy and bringing benefits to film producers and film fans as well, White Rabbit develops a browser plugin that is able to define any kind of content streamed online and gives its users an opportunity to pay directly to the copyrights holders of the chosen content.
The payments are blockchain-based and are carried out with the help of WRT tokens issued on the platform. All the content that the users have bought will be stored in a specially created user library called the Rabbit Hole that will always remain available. Users will be able to purchase WRT tokens during a whitelisting event later this year.
Speaking about their project, founder and CEO of White Rabbit Alan R. Milligan said: “The new studios disrupted the traditional film industry with streaming, to the benefit of their subscribers. We´re disrupting the new studios subscription model, to ensure greater rewards and transparency for producers, talent, investors and fans. We do this by ensuring fair access for films and series, competition in streaming services and diversity of content.”
Moreover, it has become known that three new tech executives from one of Northern Europe’s leading blockchain projects Blockchangers joined White Rabbit team. “We are incredibly excited to have K5, Daniel Baur and the Blockchangers team support our mission to ensure a legal, innovative P2P streaming market, offering fans the choice and access they deserve and the industry a transparent and instant monetization model for rights holders, film investors and talent”, commented this news Alan R. Milligan.
The first announcement of White Rabbit was made in October, 2017. And now the team plans to release its minimum viable product (MVP) in the second quarter of the ongoing year. The White Rabbit’s budget is $1 million. And it is said that any project joining its ecosystem will get a chance to receive up to $100,000.
Source: Read Full Article