ritestream: Revolutionizing Film and TV in Web3 and the Metaverse
BRISBANE, AUSTRALIA / ACCESSWIRE / December 24, 2021 / Ritestream is a revolutionary platform for the creation and monetization of film and TV content driven by the blockchain. Ritestream is set to disrupt the $1 trillion dollar Film & TV/ production industry, solving its 2 biggest problems.
(1) Most projects never get funded – only 1 in 2,200 shows pitched to a network makes it to a series in the USA.
(2) 90% of film and TV content does not get fully monetized, because the content licensing model is broken.
Ritestream’s vision is to democratize the creator’s economy while increasing the monetization opportunities for content through the Metaverse.
A ride through Ritestream
How many more “Squid Games” are out there in the minds of creators? Well, now we’ll find out – here’s how it works: creators place their project idea on the platform where it is funded by the community via a native token called “Ritecoin”. The initial NFT is minted pre-production, and the funding members are all fractional owners in the project. Funds are released in tranches through the production process, and when completed the film or tv show is released in the form of a final NFT. Since the creator and funding members all own fractional pieces of the final work, they share in the revenues generated when the content is sold & distributed. The vision is to empower creators from ideation through to global distribution. Ritestream is a medium for creators to fund their project ideas and bring them to life.
Tapping into its existing library of over 7,000 titles, Ritestream has the launchpad to create a decentralized NFT market for film and television instantly. Not only will this drive efficiency and cost savings for broadcasters, but it will also enable enriched personalized content choices for viewers. Ritestream is forming partnerships with Metaverse projects to create cinemas in the metaverse where audiences from different corners of the globe can have a shared viewing experience.
The innovative minds behind the scene
The Ritestream team consists of various successful entrepreneurs with vast experience in the tech & media industries. Riaz Mehta is a serial entrepreneur in tech and media and is the Founder and CEO of Ritestream. As an Emmy Award-nominated TV producer, Riaz has experienced the pain points of a Creator first had which led him to create Ritestream as a solution. His co-founder, Damian Miles has over 25 years of experience in the Film & TV industry, having worked for Seven Australia, National Geographic Channel Asia, and founded several tech startups. They are supported by industry veterans such as Eddy Tan (Fox, Disney) and Nathalie Morley (co-founder of Fashion TV).
The Advisory Board consists of various tech giants, including Michael Ferrario (CEO of StashAway) and Aly Madhavji (Managing Partner at Blockchain Founders Fund), and many more industry leaders. The link to the full advisory team is here.
Ritestream is one of its kind in the entertainment industry
Unlike many other projects that are at the ideation stage, Ritestream is an existing Web 2 business moving to Web 3. Ritestream has an existing network of streaming platforms that reaches over 100 million viewers worldwide. The ecosystem has many advantages: (1) an established content distribution network with over 5,000+ B2B platform users; (2) a cumulative reach of over 100 million consumers; and (3) over 82,000 hours (7,000 NFT’s) of content on the platform. The company has 30+ team members with a presence in the USA, Europe, Middle East, India, Russia, and Asia and generates revenue based on annual contracts with global streaming platforms.
Ritestream is positioned to transform the Film and Television industry globally. It provides wings to the unheard talent of the industry and allows full monetization of their creations. An example of how blockchain technology and NFTs can be leveraged to disrupt an existing old-fashioned industry.
About ritestream
Ritestream is the stage for creating and adapting film and television NFTs made by Allrites. With Ritestream, an NFT owner can decide to sell the NFT entirely so that the new keeper will profit from future incomes produced by the NFT. The Ritestream stage hence totally democratizes content. This is a progressive idea in the film and media business, where content has generally just been authorized for specific provinces and stages.
To learn more about Ritestream:
Whitepaper – https://whitepaper.ritestream.io
Website – https://ritestream.io
Name: Ben Griffiths
Email: Ben@ritestream.io
SOURCE: ritestream
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