Tokit is a new digital rights management platform unveiled by SingularDTV. Find out everything you need to know about Tokit today in our review.
What Is Tokit SingularDTV?
Tokit is a project creation, project funding, and rights management application. The platform launched on November 6, 2017.
Tokit was made by SingularDTV. Tokit is one of SingularDTV’s first wave of applications. That first wave focuses on the development of projects. By the end of the third wave, SingularDTV aims to have created a decentralized entertainment studio that revolutionizes the way we consume and produce media.
Users can create projects on Tokit, then start growing their audience from the very beginning and get their projects made. Once those projects are completed, they can be distributed on EtherVision, which is one of the distribution applications in development by SingularDTV. EtherVision is scheduled to launch in 2018.
The three waves of SingularDTV applications will include:
- Wave 1: Development – During this stage, Tokit will help develop and fund projects.
- Wave 2: Production – This wave includes applications that help produce projects
- Wave 3: Distribution – This wave involves the distribution of applications worldwide, allowing customers to watch, read, listen to, and experience content
These waves are taking place over the end of 2017 and throughout 2018.
How Does Tokit Work?
The goal of Tokit is to help independent artists thrive. At the same time, Tokit makes it easier for publishers, distributors, curators, and production companies to manage their rights. These parties can control their intellectual property using Tokit.
The platform involves the use of Tokit tokens. Users can generate their own tokens.
Tokit has already shown its potential by tokenizing a company called Gramatik. Soon after launch, Tokit will also tokenize a short film, a feature film, a television pilot, two non-profit organizations, and more. They plan to quickly showcase the potential of their platform to users.
One of the key features of Tokit is its crowdfunding platform called Launchpad. Tokit allows users to tokenize their intellectual property, then launch it to the public using Launchpad.
What Is Tokit’s Launchpad?
Tokit’s Launchpad is a crowdfunding platform based around tokens. It’s easy to compare Launchpad to other crowdfunding platforms like Kickstarter, Patreon, and Indiegogo. However, Launchpad has several unique features that distinguish it from the crowd.
Tokit’s Launchpad describes itself as “the evolution of crowdfunding”. It revolves around the use of tokens. Instead of simply collecting funds to be raised, Launchpad is dedicated to exchanging value.
What’s the difference between fundraising and exchanging value? In the old crowdfunding model, project backers donate money to a project. The exchange of value was limited: it was just a one-way street between backers and creators. Creators would take their backer’s money, then use it to make a product. Backers might get a t-shirt or website mention in exchange.
Tokit’s Launchpad envisions a different model: Launchpad allows for a real and dynamic value exchange. When you support a project on Tokit’s Launchpad, you get tokens in exchange. Tokens represent the creator’s intellectual property and the revenue stream associated with that intellectual property.
Basically, Tokit is the rights management platform that allows users to tokenize their intellectual property, while Tokit’s Launchpad is a crowdfunding platform that allows them to sell their tokens to the world.
Tokit SingularDTV Conclusion
Tokit launches on November 6. The company is seeking to attract content creators interested in creating a tokenized ecosystem around their products. It’s part of a suite of applications being created by SingularDTV, a blockchain-based entertainment studio.
The ultimate goal of Tokit and SingularDTV is to revolutionize the world of entertainment. Today’s model is outdated, and SingularDTV aims to disrupt the model using blockchain technology and applications like Tokit.