Author: Jagdish Kumar, India
Blockchain based on-demand video start-up; TaTaTu Enterprises Ltd has raised $575 million through initial coin offering (ICO) by giving TTU tokens.
This is the third largest fund raising through ICO globally after a Cayman Islands start-up Block.one raised $4 billion in May 2018 and Telegram that has raised a total of $1.7 billion from its two pre-ICO sales in April 2018.
The Blockchain-based video startups will rewards users for watching and sharing videos after receiving the funds.
Speaking on the company, its founder Italian-Canadian film producer Andrea Iervolino said that many have written that it is Blockchain Netflix, but it is not. We are offering the viewer too, rather only content producer, which is given in the case of YouYube and Netflix.
By watching videos on our platform, users can earn tokens and other content for free. These tokens can be redeemed by users any time.
Any users, which are doing activities such as watching and uploading video, will earn tokens. They can also earn additional tokens through what is essentially an affiliate program with ongoing recurring commissions.
Apart from videos, TaTaTu also intends to include music, sports and gaming content, becoming a 360-degree entertainment platform that will allow both consumers and content creators to monetize their content, and content viewing, transparently.
Before this raise, TaTaTu have does have some impressive names backing it, albeit impressive in terms of European royalty, with investors including Prince Felix of Luxembourg and Lady Monika Bacardi, second in succession of the liquor company Bacardi Ltd., who pledged to invest $100 million. Bacardi (the company) can make a decent drink, but does that qualify family members to identify great investments in the blockchain space?
Giving token is not the only thing, TaTaTu is doing, it is also looking to offer premium content from third-parties. The company is producing premium content itself, including an original documentary by Jeremy Renner and a movie starring Antonio Banderas and Alec Baldwin.
According to the company, it is the first video-on-demand and social platform to reward you for watching entertainment: sports, gaming, movies, music videos, TV shows and celebrity news.
TaTaTu also provides TTU (TaTaTu Tokens) you when your friends watch and you share.