What is SingularDTV and why should you care?
SingularDTV is a blockchain entertainment studio looking to lay the foundation for a decentralised entertainment industry. They held their token launch event last year in October and have been powering forward ever since. The idea behind Singular is to create a decentralized and tokenized content creation and distribution platform that will create, acquire and distribute film and television content in an innovative way generating revenue for token holders.
The idea of distributing tokens to fund creative endeavours was believe it or not pioneered by Bowie back in 1997 when he created Bowie Bonds to allow supporters to share in future profits and to help fund his projects. The reason this kind of system is inspiring is because it leaves creative control in the hands of the original creator and allows for direct financial contributions from the fanbase.
The SNGLS tokens work in much the same way as Bitcoin and Ether. The tokens represent your assets and enterprise on the blockchain. Much like Ether tokens can be used as “gas” to power your platform. The tokens represent 4 key functions:
- Property– The token functions as a programmable token in the form of a web address.
- Utility – Functions as a utility token that is needed to use the modules in the SNGLS ecosystem. SNGLS tokens are affected by a multitude of factors such as: supply and demand, revenue, networking and growth of the ecosystem to name a few.
- Revenue -A digital rights, revenue and royalty management platform for all the content produced and acquired by SingularDTV.
- Fungibility – A TVOD Portal to distribute SingularDTV content similar to Google Play, Apple TV iTunes, and Vimeo. The tokens can be bought, sold and/or traded on exchanges or exchange contracts.
So basically how you use your SNGLS is entirely up to you. You can hold on to them as an incestment or use them to make that TV show you always wanted. The technicalities behind making SingularDTV work effectively go pretty deep, so we won’t bore you with that. Let’s just get straight to why it made our Dark Horse list for December.
Why put your money into SNGLS?
Great question friend, I see the wool can’t be pulled over your eyes too easily. Well let’s look at facts. Our research team pinpointed interest in the cryptocurrency at 200% for the start of December. A single token was priced at $0.12 with a comfortable doubling of the price predicted. As of today December 25th SNGLS stand at $.23 making our pick quite accurate. Whether or not to hold onto SNGLS right now is a difficult call as the market for it’s primary uses is still very young. We have also noticed similar platforms popping up. What we think will be the difference will be which platform can support giant numbers of transactions simultaneously. DJ Grammatik a techno DJ recently launched his own tokens through Ethereum’s Tokit application which allows users to embed their intellectual property rights, revenue and royalties into a programmable token. This could see a number of artists follow suit but is not without it’s limitations. The Ethereum technology is currently restricted to around 20 to 30 transactions per second which is a massive issue for artists looking to cash in on major limitations. For this reason we can see SingularDTV become a long term stayer with 100,000 transactions per second a feasible goal within 2 years for the platform.
At this point SNGLS aren’t a sure thing but we like the idea of hat it could become. They also doubled our portfolio in a couple of weeks so they haven’t lost us yet. As always diversify and limit your risk. We will keep you posted on the SingularDTV guys over coming months as we are sure there is plenty to come.