In the entertainment industry, especially where we talk about the creators of amazing content that is addictive and spending time and money on, the talented creators have always been crippled with the traditional way of getting backed and the platforms that support these creators have their stringent rules that are far from encouraging the content creators.
We’ve earlier talked about how Livetree ADEPT is set to change the way you do not just consume entertainment, but also the way it is produced. There are always some hardships that the creative content makers face whenever they are on a hunt for the right investors for their project. Livetree ADEPT is solving that by making things decentralized, and revolutionizing the film and TV industry using the power of the blockchain.
The Livetree ADEPT ICO is live right now and such is the craze for investors to be a part of it that the initial goal of 10 million USD is already reached. Following is the token allocation set by Livetree for the ICO.
- 75.6% available for sale
- 10.3% reserved for the founding team
- 6.9% seed incentive reserve
- 0.1% lottery
- 4.0% for the referral program
- 3.1% allocated for marketing
While the main sale cap is set at 30 million USD, it is quite a feat to see the ICO already getting one-third of it at this stage, with over 18 days left for the sale to end. Now, let’s understand what is the benefit not just for the investor but also for the content creators who are a part of this blockchain platform for film & TV funding and distribution.
The entire concept of Livetree ADEPT is not only about funding the creators with the help of blockchain but with the way, it handles the community with transparency. Over the past year, LiveTree has been building a contact list of established industry players, which currently numbers more than 14,000 companies and individuals. Project creators can also add their own participants to the network on a per-project basis.
To help guide creators, fans, investors, project creators and all participants in a project, ADEPT will also transparently score projects based on LiveTree’s ADEPT Analytics, which are peer-driven and based on community governance. Initially, the scoring system will consist of statistics based on the team and project’s financials. The system is open-source and based on community input, meaning that the creator and consumer, not a corporate, has control over makes it on to the screen.
The team members in the project can refer potential backers and earn a percentage of what is invested, in the form of Seed. For professional content makers, smart contracts simplify complex deals, remove legal overheads, create transparency and guarantee payment flows.
In the entire storyline of how the backers and creators benefit from each other, there is a certain rewarding also done by the creators whenever the project is successfully completed, or even when certain milestones are reached. The funding depends on the model that is set for the funding, i.e. Keep-what-you-raise, All-or-nothing, or the milestone-reached model. The latter is where the creators draw up a timeline featuring key deliverables to be met by certain dates. Backers agree to fund according to the timeline milestones. The first milestone target must always be reached in order for funds to be released.
Now, in this model, the creator gives the backer either a reward like a signed DVD of the creation, or invitation to the show premiere, or the intellectual property rights to the project content, released at agreed milestones.
The ADEPT platform here is to purely help facilitate all of this in a transparent manner so that the potential backers are aware of what they are investing in and what to expect, and at the same time, the Livetree ADEPT platform has a large community of talented content creators waiting to get funded to execute their project plans for some treat-worthy content.
thanks for the article Chetan Sir, very informative!! #GizmoArmy #Honor9LiteGiveaway
Just like mutual fund but the difference being we get to choose whom to back