A blockchain based entertainment platform backed by Prince Felix of Luxembourg and Lady Monika Bacardi, led by Andrea Iervolino who co-produced The Merchant of Venice, is to give away $50 million worth of Tatatu (TTU) tokens in the biggest crypto giveaway to date.
The giveaway begun on July 1st during the public beta of the platform. The first two million users are to receive 50 TTU Tokens, currently valued at approximately $25 USD, we are told.
“The initial interest for TaTaTu has been exceptional and we are continuing that momentum into our beta phase with the largest cryptocurrency giveaway in history,” Andrea Iervolino, CEO of TaTaTu Enterprises, said before adding:
“TaTaTu will be a social platform whose value is shared by everyone that participates and will continue to grow as more and more people join.”
They have raised $575 million in a token pre-sale that ended in June, with the proceeds planned for funding original content, to acquire new users, for marketing the platform and to develop the software.
They are planning to fully launch in October when anyone who has accumulated more than 200 TTU tokens can simply withdraw them to their own ethereum wallet.
With the idea here being basically Brave Browser, but for movies. They say TTU is “the central currency within TaTaTu’s blockchain-based social entertainment platform and will be used to compensate content creators, members of the platform who view content, and pay for advertising on the platform.”
That might address a problem in funding independent movies as film producers might have an online platform where they can potentially see return on investment.
The blockchain project itself, furthermore, plans to create its own movies and plans to offer them exclusively on their platform.
One such movie is the upcoming Lamborghini biopic starring Antonio Banderas and Alec Baldwin, which is being co-financed and co-produced by TaTaTu with Andrea Iervolino’s AMBI Media Group.
They further hope to implement smart contracts for licensing rights as well as to allocate payments as we have previously detailed.
With all this being very much an experiment in tokenized advertising and perhaps home cinema like experiences, but how it will develop remains very much to be seen.