Crowd funding specialist LiveTree is fundraising $50m for a new platform that is billed as the world’s first community-powered film, TV and content network.
LiveTree says the platform, LiveTree ADEPT, goes beyond crowdfunding and will use the latest blockchain innovations to provide a decentralized system of creation, funding and distribution.
The new platform is underpinned by a new digital token called Seed (SED) made possible thanks to the latest developments in Ethereum blockchain technology that allow for ‘smart contracts’.
Blockchain is the technology that also underpins digital currency Bitcoin. It is a method of recording data – a digital ledger of transactions, agreements, contracts – anything that needs to be independently recorded and verified as having happened.
LiveTree CEO Ashley Turing, said: “By using the blockchain to connect and discover talent and suppliers and remove complex and costly contracts in production, we will generate a truly community-driven network approach to developing and producing content.”
Noel Goodwin, director of British Film Institute Future Film, said, “LiveTree is a unique prospect in that it’s a brilliant way to not only enable film makers to make the content they want to make but it’s going to be able to match content with audiences and what they want to actually see, so it’s really exciting.”
The platform token sale will take place in two phases. The first consists of a pre-sale, starting Friday December 1st, 2017, running till Friday December 8th, which will offer buyers the opportunity to acquire Seed (SED) tokens with bonuses. The pre-sale will offer 35 million tokens. The second phase will offer a further 170 million tokens, with a total equivalent value of approximately $50m.
Turing said, “ADEPT is well positioned to capture a large share of the global $1bn crowdfunding space for film, TV and content. By providing an end-to-end platform we are creating an entirely new market that will expand and redefine the $500bn film, TV and content industries. LiveTree ADEPT is a market-driven decentralized platform where viewers can get the best content decided by the market. We are connecting the content creators directly with the consumer. Decentralized means no ‘middle men’, no monopoly, only great content.”
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