Slate Entertainment Group has announced the launch of the SLATE [SLX] blockchain network. Slate aims to revolutionize the entertainment industry by using blockchain technology to provide transparency and accountability in the entertainment space, whilst making it easier find and buy the entertainment. The platform will power a blockchain video on demand (BVOD™) service, BINGE, and facilitate all types of entertainment discovery and ticketing. Binge introduces BVOD™, a decentralized streaming platform to utilize the power of distributed ledger technology.
For the Binge streaming media platform, blockchain technology facilitates streaming content and transparent behavioural analytics that reveal consumer tastes.Binge will provide real-time revenue sharing between content providers and creators, whilst mediating access to the valuable network data and analysis that improves content development.
SLATE is a blockchain-based entertainment utility protocol powered by a cryptographically secure multi-layered network. The decentralized system will deliver low-cost, high-speed, high-definition video globally and facilitate live event ticketing on the blockchain. Consumers will be able to spend SLATE cryptocurrency (SLX) on entertainment. The use of SLATE enables fair and transparent compensation between creators, producers, and distributors. Creators are compensated fairly and consumers get higher quality entertainment, while event hosts have the peace of mind of knowing their tickets are secured by the blockchain.
Powered by the SLATE network, SLATIX will be a mobile app for entertainment discovery and ticketing. Consumers using SLATIX will be able to discover content through a curated system of authenticated reviews, and earn substantial discounts and access to entertainment events, including movies, concerts, plays, museums and sporting events. Repeat users will enjoy loyalty rewards. Curation of a trustworthy review system is incentivized with Slate token rewards (SLX). Since the tickets are secondary tokens on the Slate blockchain, they are forgery-resistant and securely exchangeable on the secondary marketplace.
The SLATE network consists of a primary network, the distributed ledger for the SLX cryptocurrency, and a secondary layer of ‘Masternodes’. These service nodes store videos and deliver them to Binge customers. Masternodes will be a premier way of earning SLX through the hosting of nodes and storage of content, providing SLX Masternode owners with a passive income. The SLX cryptocurrency motivates service providers to maintain an always-on global network.
The initial sale distributes 48% of the total network supply of SLX coins. The pre-sale bonus starts at 5% for the first five days, then drops by 1% every five day period. The intended token sale opens at twenty-seven cents ($0.27), and rises by two cents ($0.02) every four day period, to a peak of thirty-five cents ($0.35). The Pre-Sale starts on the 11th of May, 2018, and runs until the 26th of May, 2018. The intended public token sale begins shortly after.