ENT Cash, found online at ENTCash.com, is a global entertainment platform based on blockchain technology. Find out how it works today in our review.
What Is ENT Cash?
ENT Cash claims to be the world’s first global entertainment platform based on blockchain technology. The platform uses ENT tokens as a payment mechanism, providing lower transaction costs than any other entertainment platform in the world today.
Entertainment companies can use ENT Cash to “effectively promote business activities”, explains the official website. Businesses also enjoy benefits like a smart contract platform, a social network, and a unified digital payment solution. Performers can issue their own digital tokens through the platform as well, then accept tokens in exchange for performances.
The project is based in Korea, where it was launched by a popular, publicly-listed entertainment company.
How Does ENT Cash Work?
The ENT Cash platform is designed to offer the following core functions:
- The platform can select people with the talent to be “a legendary agent or the next big idol”
- ENT will use blockchain technology to tokenize intellectual property
- ENT will work as a content distribution and live streaming platform, providing trustworthy interactions between content providers and consumers
- Fan can use ENT to support idols, and idols can use ENT to give feedback to fans
- ENT Cash will work as a payment system with low transaction costs
- ENT will have a social network that allows users to interact with each other in a transparent, decentralized way while also accepting payments for different transactions within the ecosystem
- Performers can issue their own digital currencies through the ENT Cash ecosystem
- The ENT platform can secure the ownership and transactions of intellectual property between idols and agents
To be clear, ENT is the platform while ENT Cash (listed under the symbol ENT) is the digital currency used within that platform. The ENT platform will also have a unified smart contract platform, a unified social network platform, and a unified livestream broadcast platform.
One of the unique things about ENT is that performers can issue their own tokens. Performers can use ENT’s smart contract system to issue exclusive “idol” tokens. The performer can then accept his or her own tokens as an exclusive method of payment for the idol’s commercial activities. Here’s how a recent press release explained the token issuance system:
“Celebrities can issue their own ENT Cash that supports the sales of all entertainment related goods, such as concert tickets, music albums and celebrities’ performance fees. The Smart contract platform supports ENT Cash to be used as an exclusive payment method for the celebrity’s commercial activities. The social networking platform, embedded with payments function, is transparent and trustworthy as it is traceable and decentralized.”
Meanwhile, the “social network” aspect of ENT Cash will include a blockchain-based social network with an embedded payment system. That social network will be traceable and transparent while allowing users to interact with each other using a cheap payment solution.
How ENT Cash Blockchain Entertainment Cryptocurrency Coin Work?
ENT Cash is used as the preferred transaction method within the ENT ecosystem. You can use ENT Cash to pay for things like:
- Appearance fees, including appearance fees for television performers, spokespeople, or performances
- Product purchases, including tickets and peripheral products
- Reward live stream viewers and social network fans
- Crowdfund movies, TV series, and other entertainment products
Who’s Behind ENT Cash?
ENT Cash’s development is led by AimHigh Global, a publicly-traded Korean entertainment company (KOSDAQ: 043580). The company is led by “Moon”, (Chief Operation Officer), who is also the Vice-General Manager of AimHigh Global and the Chairman of Korea Regional Chain Industry Promotion Association International Cooperation Committee.
Other listed members of the team include Longyi Li (CTO), an expert on blockchain and cybersecurity.
ENT Cash is headquartered in Seoul, South Korea. The company has launched 7,000 live shows for 24 million music fans over the last year.
ENT recently made headlines for partnering with Hcash Foundation, the organization behind Australia’s first public blockchain project. Hcash will provide technical support for ENT.
The ENT Cash Token Distribution
Of the total supply of ENT Cash tokens, 20% are reserved for proof of stake rewards, 40% are being airdropped to users, 15% are reserved for the foundation, 5% are for the dev team, and 20% are for the ENT Cash business corporation.
An airdrop took place in Q3 and Q4 2017.
ENT Cash Conclusion
ENT Cash is an entertainment platform targeted at the South Korean entertainment industry. Using the platform, performers can launch their own tokens, then accept their personal tokens in exchange for performance fees, appearances, and products. At the same time, entertainment industry fans can access the platform to enjoy exclusive offers while paying low fees for transactions in ENT Cash (ENT).
To learn more about ENT Cash and the ENT ecosystem, visit online today at ENTCash.com.