Ritestream, the decentralized global platform for Film and TV NFTs, is set to launch its RITE coin on March 24, 2022, through an ICO with Gate.io and other centralised exchanges. Shortly after, the token will list on PancakeSwap to offer extra utilities to holders and decentralized exchange users.
Ritestream is a media ecosystem in Web3 created for film and TV content producers founded by Riaz Mehta, a serial entrepreneur in the technology and media industry. The ritestream Launchpad empowers creators to bring Film/TV projects to life through an engaged community. It allows anyone to invest in their favourite projects via NFTs which generate revenues for decades and can increase in value over time. Blockchain Founders Fund, along with other VCs like Metavest Ventures, SOSV and many others fully support the vision of ritestream.
“By fractionalising ownership of film and TV content via NFTs, we are empowering both the creators and the community” says Riaz.
He adds, “Leading streaming platforms and studios will no longer be the only players when it comes to funding a project, and independent investors will be able to get involved. Each piece of content is unique and therefore a non-fungible token (“NFT”) in its own right.”
Ritestream currently maintains a Content Marketplace with over 100,000 hours of content and more than 5,000 B2B customers. Along with the Launchpad, they will soon launch an NFT marketplace where consumers can purchase NFT passes, giving them guaranteed allocation of future NFT drops from celebrities, actors and film producers.
Aly Madhavji, the Managing Founder of the Blockchain Founders Fund, also shared his insights about how bullish the team is for ritestream. He said, “We’ve always been bullish on projects with sustainable long-term utility. We see Ritestream as a gateway for filmmakers and producers to have more control over their work. As a decentralized platform, ritestream will give more freedom to these creators.”
