Review of ICO White Rabbit
The authors of the project offer a universal platform for broadcasting video on the Internet, allowing users to pay for viewing with the help of crypto currency. The idea is based on numerous social surveys in which respondents claim that they are willing to pay for content received from pirated sites, but they can not do this because of the lack of a clear payment mechanism. The heart of the project is a plugin for browsers that automatically tracks which videos the user watches and transfers the payment to the account of the copyright holder.
The idea of White Rabbit
The authors believe that too few filmmakers receive money from digital distribution. And the mechanism of profit is often opaque and too confusing. There is no difference between a fan and a pirate, in the event that a law-abiding spectator does not physically have the opportunity to pay a fee for watching a favorite TV show, sports event or other type of content. Existing sites have a limited choice of content. Large operators prefer not to pay to independent studios, but to invest in their own shows.
These factors led to the formation of a paradoxical situation in the market. On a global scale, there is virtually no competition, which leads to a slowdown in innovation.
Realization of White Rabbit
To change the situation, the authors plan to create an extension for the browser that would monitor the content that the user is viewing, and automatically transfer the payment to the account of the copyright holder. The emphasis is on "quiet work" - the extension should not disturb the user by entering passwords, filling out forms, offering to subscribe or advertising.
The principle of operation is very simple:
- The user buys system tokens and winds them to their account
- During browsing, the browser extension itself determines the copyright owner to whom the content belongs, concludes a smart contract with it and transfers the tokens to its account
- The platform charges a commission for all payments made
- Authors of content receive a powerful stimulus for further creative activity
The market is estimated at $ 15 billion, with an annual growth. Over the past five years, volumes have actually doubled. The documentation for the project contains the results of the research, in particular, the experience of the largest streaming service in the world, the company Netflix, has been thoroughly studied.
The project is aimed, first of all, at the US market. Pricing is built in such a way that the cost of services for the end user is lower than in cable television networks.
The project team
The startup was founded by people who worked for many years in the film industry. The head of the project - Alan R. Milligan headed his own film company, took part in the creation of films that received many awards at international festivals. It is difficult to call it a "young start-up", rather the term "experienced entrepreneur" is more appropriate.
The second partner, Hengameh Panahi, has been working in the film industry for more than 30 years. She passed all the steps of the career ladder and founded her own company. The third partner, Adrian Hessel-Rütter, came from IT. For the past seven years he advised other businessmen, helping them to formulate a digital strategy.
There are six participants in the team. They are difficult to call specialists in digital distribution or block-technology. But they know the market well and have quite a lot of experience in business.
As for the list of consultants, it causes some confusion. Names are famous, people are respected. But in the first place - businessmen and investors. The question arises, why they did not dare invest in the project, as business angels?
His coin "white rabbits" decided to call White Rabbit Token (WRT). Only 40% of tokens will be put on token. A third will remain in the reserve, and the rest will go to the bonuses of the team, payment to consultants, partners and the bounty program. A total of 190,000,000 tokens will be issued.
The authors of the project set a very interesting course - 1ETH = 3040WRT. The logic of choosing a non-round amount is incomprehensible.
The minimum amount that the creators of the project intend to attract is $ 2,000,000. Quite a few, as for such a large-scale system. The maximum amount is $ 10,000,000. Based on these figures, the project can be called low-budget.
The pre-sale was launched at the end of 2017. The discount is 20%, but the entrance threshold is quite high - 25 ETH. The main token is scheduled for the first quarter of 2018, the exact date has not yet been announced. Apparently, the authors of the project White Rabbit are going to determine with additional details after the end of the pre-sale. Based on the amount of funds raised, they will put a discount on the token.
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