Singular-DTV (S-DTV) is an Ethereum based decentralized content production and distribution platform that aims at making the entertainment business more efficient, both for the content producers and for the consumers, through a transparent smart contract system and a brand new governance method. S-DTV has recently released their Initial Coin Offering terms, which can be found here.
Singular-DTV is looking to gather around $7.5 million which will be used to fund the first season of their featured tv-show “Singular”, to launch the S-DTV Documentary Division, purchase an equity stake in the Ujo rights management software system and to launch and brand the S-DTV Transactional video on demand (TVOD) distribution portal.
During the token sale, 50% (500 million) SNGLS tokens out of the 1 billion supply will be exchanged for the equivalent of approximately $7.5 million in Ether. The remaining 50% will be assigned to core investors (10%) and to the S-DTV Vault (40%), a place that reinvests profits back into the S-DTV system.
The token sale will last for 4 weeks, during this time a minimum of 34 million tokens must be sold in order to fund this project, that will otherwise be canceled (in this event all investments are returned). The crowd sale will have a fixed rate of 0.00125 ETH per SNGL during the first 10 days, and will drop by 12.5% every 4 days until it reaches 50% (in 12 days).
These SNGLS tokens represent a share in the CODE that manages the S-DTV project. The S-DTV CODE (Centrally organized Distributed Entity) is like a DAO but with a central leadership element, meaning that initial funding will come from users, which will also receive dividends from the profits generated in the S-DTV portals, but users will not get to vote on project developments. This system holds advantages both in efficiency and in security, which is being taken extremely serious by the S-DTV team.
In order to ensure that this smart contract system has been securely programmed, S-DTV has, in partnership with MME, developed an auditing system called “The Guard” that is comprised of a human auditing element and a code-based stress test.
Once this smart contract system goes live, all of the real-world functions, such as converting ETH into fiat currencies, will be performed by the Workshop, which is also in charge of reinvesting the revenues received from the 400 million SNGLS tokens that were first assigned to the S-DTV Vault.
The tokens on the Vault cannot be moved for a minimum period of two years, but users will be able to transfer the tokens they have purchased during and after the crowd sale period, which means that the tokens will probably enter exchanges soon after the crow sale ends.
Check out a preview of “Singular”, Singular-DTV’s feature TV Show about the advances in technology and decentralization, and their role in human evolution.