New Money Project Sollywood TV Aims to Disrupt Cable TV Sector Using Blockchain Technology
A new project, founded by filmmaker and cryptocurrency entrepreneur Solomon Adekale was recently announced on bitcointalk. Sollywood TV, a free market where any content creator or provider can sell their content at a price that viewers would be prepared to pay, aims to disrupt the Cable TV sector, worth an estimated $200 billion. The project uses a market-driven platform fuelled by its own digital currency – Sollars and $ense.
Commenting on his reason for creating Sollywood, Adekale said: “Back in film school, I realized the pricing nonsense of Hollywood didn’t actually start at the top, it started at the very bottom with us; student filmmakers. From the very first day we start shelling out thousands of dollars for that education not once are we taught that our films are worth anything but the fee we have to pay to have them shown at someone else’s film festival. It should be worth something. And that’s sort of how it hit me…”
The platform will take a 10-20% fee, and the rest will go to the creator or provider. The New Money project will be partnering with Cryptonomex, OpenLedger, ShareBits and the Muse project for the upcoming technical development. Adekale and the New Money project partners will be launching a pre-sale token to help reach their short and long term goals. SoLCerts represent a future Sollar or 100 $ense and can be exchanged for cryptocurrencies.
The initial 14 days presale auction will be handled on OpenLedger account name ccedk.escrow2 by the emerging escrow services offered by CCEDK ApS, the registrar of OpenLedger. They are being auctioned for less than Sollars’ exchange rate value to the Dollar. 100% of all funds raised from the SOLCERT auction will go towards promoting and achieving a successful new model for content creators to sell their work.