NollyTV is a revolutionary Peer-To-Peer creative work sharing System for the Movie industry powered Nollycoin as the means of exchange. Effectively, NollyTV is a decentralized system for the publication, distribution, and consumption of Movies and associated creative works, which combines a cutting-edge cryptocurrency with a peer-to-peer blockchain enabled file sharing network.
Consumers can then access a global catalog of movies stored on a peer-to-peer network and pay owners directly using digital currency, based on their usages. Ease-of-use tools can be designed to allow a seamless experience for both movie owners and consumers, and an open protocol will allow third-parties to build a rich NollyCoin ecosystem of value-added software and services.
By providing a distributed and highly transparent platform that connects creative artists in the production of movies and Consumers of Movies directly, Nollytainment, through its Nollycoin, lays the groundwork for a new age in the Production; and Distribution of Movies, in a way that is sustainable, borderless, and fair to all stakeholders.
Summary Of How The Nollycoin Powered Blockchain Distribution Ecosystem will Work:
For those who have been wondering how the whole Nollytainment ecosystem, powered by Nollycoin, will work, here is a brief step by step description presentation of how the NollyTV Platform will work when finished.
• Producers and Content Owners register and load their content on the NOLLYTV blockchain powered portal.
• The Owner or Producer executes a smart Contract that stipulates the different rights and compensation percentages of fixed payments for different key collaborators on each sale of the content before the content is available for worldwide consumption
• Content (movies etc) is then publicly published on NOLLYTV for consumers to buy and consume with Nollycoin as the means of exchange.
• Users make payments through the portal wallet to all beneficiaries of the published smart contract for that content using NOLYCOIN (which can be purchased by fiat money or other currencies available on the platform exchange for those who do not have Nollycoin).
• The Decentralized Ledger automatically records and authenticates the transactions from each sale to all beneficiaries based on the smart contract
• All Transactions are then added into encrypted blocks and officially added to the blockchain in a permanent form and reviewable by all parties with no one being able to edit, delete or amend the permanent record.
• The micropayments are then automatically credited to the portal wallet of different entities entitled to compensation based on the published smart contract for that content
• Beneficiaries can now withdraw their money from their Wallets at any time in Nollycoin which they can keep for the value, or convert to fiat money or other cryptos on the Nollytainment exchange or other public exchanges where Nollycoin is traded.
• No 3rd party intervention in the whole process.
- Portal will be open to all content owners worldwide. Though the original focus of the portal is for African Movies, all great content across the globe will be welcome and supported equally.
For more information about the Nollytainment Project and its, Nollycoin ICO go to https://Nollycoin.com.