Within two hours, 200,000 individuals registered to download the alpha app of Tatatu, reaching maximum capacity for the alpha stage.
John Couch, a former Apple executive, has joined to oversee the advisory board. He was hired by Steve Jobs.
“Two time Oscar nominee Jeremy Renner (“Avengers,” “The Hurt Locker”) is the subject of the first original documentary from TaTaTu. Another greenlit movie is the upcoming Lamborghini biopic starring Antonio Banderas and Alec Baldwin, which TaTaTu is co-producing and co-financing,” they tell us.
Then we have a Prince, Felix of Luxembourg. We have a Lady, Monika Bacardi. We have a somewhat decently known Italian-Canadian film producer as the CEO, Andrea Iervolino, who co-produced The Merchant of Venice. And we have a sale of $575 million worth of Tatatu tokens.
If that is not enough, Tatatu is working with Patricio Slim, son of Carlos Slim, who is backing the Tatatu movie “The Sound of Freedom” starring Jim Caviezel and Mira Sorvino – one of several movies the platform is now producing.
Is this the next Youtube? Or much namedropping? The elite jumping on the blockchain to much fanfare? Or an intriguing idea that might bring in a new paradigm shift?
“It’s time for social media and entertainment content providers and consumers to get rewarded fairly and promptly for the value they continuously generate,” said Allan Cassis, founder and CEO, Lvna Capital. “We are proud to be joining Andrea and the Tatatu team in the development of a platform that will achieve this grand vision.”
And the vision is grand, yet simple. Taking a leaf from Brave Browser, they are pioneering the better than free model by paying you to watch movies, then later on perhaps also “music, sports, and games.”
The token is a sort of co-ordinator. Advertisers pay for ads, you get some of that payment. The blockchain, the manager of it all.
And since we have a blockchain and we have a token we can potentially replicate the experience of cinema watching on an online platform with the token potentially serving as a ticket, in addition to a value transfer method.
That’s through their smart contracts based Digital Management Rights for creative works. The whitepaper says:
“TaTaTu plans to utilise Ethereum’s smart contracts to create intelligent representations of existing rights records that are stored within individual nodes on the network.
The contracts will be constructed to contain metadata about the record ownership, permissions, and data integrity.”
Advertisers know everything about you, they say. They’ll continue to do so, but now you get paid for your data. That too is through the blockchain, with almost everything of course held on a proprietary website which acts as a sort of oracle or data feed when it comes to payments distributions. They say:
“The smart contract will take information via a proprietary platform from the TaTaTu user database and process payments exceeding the set threshold. TTU will then be sent from the reserves wallet to the users and content providers.
Management intends that TaTaTu will manage the reserve wallet to ensure tokens are available to reward both users and content providers fairly and in a timely manner.”
Later on they may allow individuals to upload their own videos, and of course get paid by a share of advertising.
On the other end movie studios can license the latest blockbuster to the platform, but what we would find much more intriguing is whether the blockchenized digital rights management can actually work to effectively replicate the cinema model.
We may find that soon enough once the platform fully launches, iterates and experiments in response to real usage data, but even the better than free model by itself would be a paradigm shift.
Free has long been held as king, yet now being paid for your attention is being seriously considered. It is an experiment in the true sense of the word because if advertising was not sufficient to fund content creators, then slashing that advertising by sharing it with individuals who only consume might make it not sufficient squared.
On the other end, advertisers might be willing to pay more as the platform might have considerable bargaining power, but intricate details of how the advertising system would work are not shared.
Questions such as can they choose on what specific movie they advertise, or for how long, or can they target the audience, and so on, are left in the air.
With the platform itself so having a very difficult task of managing sufficient income for producers, while paying consumers, all from just advertising.
Yet there are a lot of things that can be tried with half a billion dollars of funding, including seeing whether consumers would pay for movies with the free tokens they are given.
As they are received for free, you’d think they would consider these tokens as a sort of plaything, as points if you like that unlock things, rather than as real money they earned and can spend on avocado sandwiches.
So it might actually work, perhaps even better than the current online advertising system where producers’ bargaining power has dropped to almost zero. Yet whether it will, only time can say.