Slate Entertainment Group (SEG) has announced the development of its new multi-layered entertainment ecosystem powered by advanced blockchain technology.
SEG brings together experts from the entertainment, business and technical sectors and will be led by CEO Michael Moyal. XYZ Films along with senior film executives from the film industry will serve on the company’s business development and advisory board.
Featuring a crypto-currency designed for mainstream adoption, the company plans to launch two platforms within the next 12 months that it hopes will take on Netflix, Amazon Studios and others in the VOD space, as well as leaders in the electronic ticketing sector.
Binge is a decentralised VOD (or blockchain VOD or BVOD) platform that will offer premium content using blockchain’s transparent and secure distributed ledger technology. The network will introduce a business model of equitable compensation based on complete economic transparency.
SEG aims for the platform to deliver low-cost, high-speed, high-definition video globally, as well as transparent real-time payments and view metrics – a key differentiator from other VOD platforms.
Binge is being set up to provide equitable sharing of the economic waterfall between content providers and creators, and data that will help creators produce more targeted content. Binge buyers will be on the ground in Cannes starting next week.
Slatix is a tokenised ticket application that SEG executives say will provide forgery-resistant event tickets at near-zero fees. The application is designed to enable content discovery through a curated ratings and reviews system. Repeat users and contributors will earn loyalty rewards and discounts to entertainment activities such as films, concerts, plays, and sporting events.
SEG is working with early adopters on initiatives that could see event tickets being purchased through the Slatix application, using the Slate crypto-currency as payment, as early as the third quarter of this year.
“To execute on this initiative, we have assembled a talented team of professionals with diverse skill-sets,” Moyal said. “Our objective is to strategically disrupt the current entertainment ecosystem using blockchain technology and corporate integrity. Our business model of complete transparency is intended to enrich the entertainment experience for consumers by fairly compensating producers for the value they create. The Slate Ecosystem is committed to enhancing an industry that is essential to so many.”
Nate Bolotin, XYZ Films co-founder and SEG board advisor, said: “We believe that eliminating corrupt intermediaries and unnecessary barriers in the entertainment industry and creating a more efficient and transparent content delivery system is the future of distribution and consumption. ‘Blockchain’ is a buzzword right now, but when it comes to powering the distribution of premium content, Binge truly has the capability to connect talented storytellers to consumers with unparalleled transparency and access like never before.”