Cryptocurrency exchange Gatecoin announced the listing of SingularDTV Token
The Cryptocurrency exchange Gatecoin has issued an announcement to inform for the launch for trading of SingularDTV’s token, SNGLS (listed as SNG) on Gatecoin.com following the decentralized entertainment platform’s crowd sale on October 2nd, 2016, where USD 7.5 million equivalent in ETH was raised in 15 minutes.
Verified Gatecoin users can now trade SNG for BTC and exchange BTC for ETH, 1ST, DGD, REP, USD, EUR and HKD. Gatecoin traders can also now deposit and withdraw funds in REP to and from our exchange as they no longer represent IOUs.
What is SingularDTV?
SingularDTV is an Ethereum-based production and distribution platform, creating broadcast quality original film and television content initially focused on nonfiction and the science fiction genre. SingularDTV aims to disintermediate traditional media’s monopolistic business models by applying the principles of decentralization with its smart contract rights management platform.
SingularDTV’s core projects:
SINGULAR — an epic sci-fi fantasy adventure television series set in the years 2021–2045 CE that explores the impact technology will have on the future of our planet and how it will shape the evolution of the human race. Production began on October 4th 2016, and season one is set for release on June 9th, 2017.
Documentary Film Division — dedicated to the creation of documentary films and series about blockchain technology and decentralization targeted at mainstream audiences, rather than “preaching to the choir.”
Smart Contracts Rights Management Platform — SingularDTV is partnering with ConsenSys to build a rights, revenue and royalty management platform using smart contracts on Ethereum blockchain for all of its produced and acquired content. Due to the complexity of film and television deals, this platform can be applied to other industries in the long term as well.
Transaction-Video-On-Demand (TVOD) Portal — this will serve as the distribution channel for all of SingularDTV’s original content, in addition to carefully curated and acquired content. SingularDTV’s TVOD interface will be built on IPFS and bridged to other TVOD portals such as GooglePlay, AppleTV iTunes and Vimeo in order to reach the largest audience as quickly as possible.
What are SingularDTV tokens (SNGLS/SNG)?
The Ethereum platform has enabled the SingularDTV team to create a localized token called SNGLS (or SNG on Gatecoin) that is programmed with the terms and conditions of SingularDTV and its intellectual property, rather than simply using ETH, which is just the gas that fuels the Ethereum blockchain.
The tokens represent SingularDTV’s CODE (Centrally Organized Distributed Entity) structure — a new breed of organization run by a Smart Contract System (SCS) engine.
Details of the CODE structure were developed in partnership with ConsenSys and Swiss law firm MME, among the architects of the Ethereum Foundation, with assistance from legal innovator Luka Muller, who is at the forefront of the legal/tax structure for tokenized ecosystems.
SNGLS tokens are embedded with a revenue claim against which token holders derive income from all four of SingularDTV’s revenue streams. Basically, it’s like owning dividend paying stocks in a decentralized Netflix with greater transparency and support for the content creators.
The total supply of SNGLS tokens is fixed at 1,000,000,000.
Gatecoin underwrote ETH 150,000 (USD 1.9 million) of SingularDTV’s ICO on October 2nd and is proud to add SNGLS (SNG) to our growing portfolio of blockchain assets, which includes tokens linked to other promising blockchain projects such as FirstBlood (1ST), DigixDAO (DGD), Augur (REP) andEthereum (ETH).