Sheesha Finance Spotlight on ritestream
Today, they’re shining their spotlight on their partner, ritestream.
Ritestream is on a mission to democratise content and maximise the revenue potential for content creators and streaming service providers.
Read on to learn more about ritestream.
What Problem Does ritestream solve?
The current film and television industry is often restricted by location and distribution rights. This limits distribution and monetisation potential. The world is becoming a more open, digital, and global space. As a result, Ritestream has created a business model to reflect the way viewers consume content in their modern age.
Ritestream has an existing network of streaming partners where the NFTs are monetised. They are also launching their own streaming app to further increase monetisation opportunities — the community can watch content to earn $RITE.
Content creators can significantly benefit from the Ritestream platform as the barrier to entry involved in creating quality content. Having content distributed to sites such as Netflix, HBO, Amazon etc is incredibly difficult to attain as it is highly expensive and exclusive. Leaving average content creators at a significant disadvantage.
Ritestream provides the ideal platform for content creators, buyers, and sellers.
A Platform for Content Creators and Sellers
The creative freedom of content creators is often controlled and stifled by a consolidated set of non-creative corporations. These have the final say in production content before distribution, often negatively influencing the original work.
This is often seen when series get released on sites like HBO or Netflix, where the original story or vision of the creator is changed as companies tweak the content to fit their narrative. Creators, distributors and companies are often so desperate to have their shows aired on top streaming sites that they are often willing to bend to the authority of these companies.
Ritestream’s allrites platform is ideal for sellers:
Sellers information. Image via allrites
Ritestream puts the power back into the hands of creators and companies. As their content is minted as NFTs, this provides a powerful monetisation mechanism that aligns with the decentralized financial system of the future.
NFTs are the key to democratizing the creator economy. By launching work as NFTs with Ritestream, creators can:
- Crowdfund their projects
- Share revenue with their team and audience
- Unleash their creativity without constraints
NFTs have already fundamentally changed the world of art, gaming and finance, it is time for Ritestream to bring this revolutionarily disruptive tech to films and television.
Here is a look at the content funding journey:
Anatomy of ritestream content funding. Image via ritestream tokenomics page
A Platform for Streaming Service Providers, Broadcasters and Buyers
Ritestream aims to drive global distribution in a more efficient manner than what is currently in place by leveraging an NFT market for film and television. Broadcasters will be able to personalise content for their audience by choosing from the mass selection of films and content available on the Ritestream marketplace.
Benefits for Ritestream’s allrites platform for buyers:
Buyers information. Image via allrites
Solving the licensing dilemma — Ownership rights are typically sold in 2-year license periods which no longer matches today’s consumer habits. This commitment puts added pressure on decision-makers. The negotiation process is often lengthy and manual to execute with both parties experiencing substantial legal costs, distribution fees and fees involved with international banking methods.
The introduction of Ritestream’s ritecoin token and the platform’s support for shorter-term commitments makes these negotiations a breeze. Through cryptocurrency and peer-to-peer transactions, many of the burdensome fees are removed.
Whether someone runs an established streaming service, or they are planning on launching one, Ritestream’s allrites content and technology marketplace offers a whole spectre of OTT solutions. These include streaming technology, flexible TV and movie licensing, industry consulting and content curation services.
NFTs for Creators and Investors
Each production can be minted as an NFT and fractionalised to entice community investors. These NFTs can be programmed to issue real-time creator commissions and audience rewards. Once minted, the production NFT becomes an investable digital asset with the following features:
- Provide a secure, authentic digital representation of the work of any creator.
- NFTs are programmed to automatically issue commissions in ritecoin for artists when the NFT is bought, sold, or traded.
- Viewers, crew members, and stakeholders can have a share in their favourite shows and films fractionalisation.
- Transparent monetisation and distribution processes allow Creators to instantly connect to millions of NFT collectors through Metamask.
- Long-term earnings potential for all the stakeholders of NFTs through cinematic network effects and the tradability of NFT cinematic assets.
- Digitised encrypted ownership spares creators from the complexities and multi-layers of middlemen when getting paid or verifying rights.
As an investor, imagine owning a share of a film series that becomes the next Star Wars or an early investor into a TV series that becomes as big as Game of Thrones. Talk about an amazing way to not only diversify a portfolio but own a part of something with limitless upside potential.
The ritestream Business Model
To create a long-term sustainable business model, there are fees ranging from 5% to 20% on the Ritestream platform. The fees are broken down below:
NFT Creation — When a creator raises funds on the NFT creation platform, the platform receives 5% of the funds raised.
Streaming Revenue Platform — When content is distributed to partner streaming networks, the platform will receive a 20% fee from the revenue generated.
RITE App — The consumer app will receive a 20% share of the revenues for content monetized via the app.
The fees of the Ritestream business model are significantly lower (by over 50%) than what is customary in the industry today.
With aspirations to be the ‘Netflix of blockchain’, Ritestream are well on their way to attaining this. Throughout its early stages of release, Ritestream has already reached 100 million users through its network of streaming partners and amassed over 82,000+ hours of content. Supported by its robust business model and experienced global team, Ritestream is likely to continue witnessing accelerated development.
ritestream’s Utility Token
The Ritestream utility token ritecoin will be used as the main currency of the Ritestream platform. Used to earn payouts and rewards, stake and purchase fractionalized shares of project NFTs.
View to Earn — Viewers who actively engage with the NFTs by providing useful insight and ratings will be rewarded with ritecoins.
Pay to Watch — Viewers can watch content using the ritetoken via the Ritestream app. The number of tokens required to watch will depend on the popularity of the content. Pricing will be pegged to the US dollar to prevent significant fluctuations.
Royalties from Fractionalised NFT Ownership — Owners of NFTs will earn ritecoins based on licensing revenues and viewership of that NFT across the entire ecosystem. NFTs that receive a higher rating will be licensed for a higher fee, resulting in higher returns.
Customer Referral Program — The community will be encouraged to refer other members to the Ritestream platform. Each referral will earn a reward ranging from 10 to 1000 ritecoins. The first million app downloads will also have 10 ritecoins built into the wallet to drive use and adoption.
The ritestream Team
The talented Ritestream team has over 100 years of combined experience in the media and entertainment industry between the members. With experience ranging from Disney to Imagine TV, the Ritestream team have the knowledge and experience needed to successfully create and run this highly ambitious project.
CEO and Founder — Riaz Mehta
Riaz is a serial entrepreneur in the tech and media industry. He has experience as a company founder and founded Imagine TV in 2008 which enjoys wide-scale success. Riaz has been nominated for Emmy awards with the content being distributed in over 50 countries.
CTO and Co-Founder — Damian Miles
Damian is also a serial entrepreneur with over 25 years of experience in broadcast media. He founded the widely popular EditShare in 2003 in the United States. He also founded video streaming tech VDYO.
SVP Global Studio Partnerships — Eddy Tan
Eddy is an international content strategy and production executive with an analytical and entrepreneurial mindset. With over 15 years of experience, Eddy has worked in television broadcasting and digital streaming platforms at Fortune 500 companies including Disney, NBC, Universal, Hallmark and Fox.
SVP, Content Strategy — Nathalie Morley
Nathalie has extensive experience as an entrepreneur and founder of companies that went on to reach success under her leadership. She co-created Fashion TV and worked as Chief Creative Officer for over 12 years and co-founded Vizua entertainment. Nathalie also worked as the Chief Content Officer for Trace and was Editor in Chief at Squa.re Media.
Why They Like Ritestream
What Ritestream is aiming to do is create a more efficient and fairer way for content creation to be possible, build a stronger film-loving community and provide a better way to view and distribute content that benefits everyone. The entire streaming industry needs a revamp as it excludes many fantastic projects that will never see the light of day.
With Ritestream, it is the viewers, fans and community that have a say in what they want to see by being able to fund and support the ideas that they think would make great content.
Instead of companies like Netflix and Amazon telling us what they should watch and like, it should be their choice and they should be able to support the creativity and art that is created by astonishing minds from anywhere in the world. Not just from those who work for major production studios.
There is a dismal statistic that says that only 1 out of approximately 2,160 pitches will be made into a series, and the pitch that gets selected will likely be made by a major company with other launches under their belt. Leaving smaller production studios and individuals out of luck even if they have an amazing story worth being told.
Furthermore, an estimated 90% of content created does not reach its full monetisation potential, making it more difficult for smaller studios and individuals to profit from their hard work.
Ritestream is the answer to all of that through its platform that supports content creators, streaming platforms, TV channels, distributors and production companies.
By leveraging crypto, NFTs and Blockchain in general, Ritestream can create the ideal environment for every aspect of the industry with significantly lower fees, higher investment and crowdfunding opportunities, and a solution to tired and outdated licensing and location restrictions among others
What Ritestream is looking to do is a highly ambitious overhaul of the film and television industry. The project has massively limitless potential while also benefitting the entire industry, which is a win-win. They feel that this is a very worthy endeavour and have full confidence in the team and project which is why they’re so excited about Ritestream and are proud to be working with them.
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