2018 — quite a year. 2019 — can’t wait!
2018 is coming to a close and for anyone related to the crypto markets or Blockchain startups this year has been quite a rollercoaster experience. One year ago Bitcoin and Ethereum were at their all time high, today they are at their lowest since early 2017. The highs and lows of crypto come thick and fast and most tokens have also taken a major hit. What does this all mean for what’s really at stake — Blockchain technology and our company White Rabbit?
The temptation of rapid financing and an opportunity to engage ambassadors in the development and pre-launch of our product was enticing. The ensuing market crash served as a reality check; but only in terms of the comfort and pace in achieving our goals. The crash has not changed our belief in Blockchain technology, belief in our product or the importance of our token nor our determination to deliver. In fact, the crypto crash has served to refocus our minds to our product and our core market.
In White Rabbit I believe we are doing something quite extraordinary, but something which is also a trend: once illegal markets, legalising, professionalizing, packaging, branding and delivering as the consumers demand. During our White Rabbit presentation in LA at the American Film Market I dropped by a store called MedMen, a cannabis dispensary. This was no ragtag shop. It could have been an Apple Store. It was simply amazing.
MedMen were catering to the demands of its consumers in a now legalised market. They have developed elegant packaging, innovated in products (sweets, drops, gels) offered convenience in delivery methods (one time vape pens) and presented solid product information on an I-pad for each strain. This is California — if you want to grow weed for free, you can do it in your backyard or balcony. Yet, Californians are buying marijuana in massive numbers — hitting $3.7Bn in this first year of legalisation. Why? Because MedMen cater to the customers demands: it’s convenient, innovative, reasonably priced and simply beautifully presented.
Professionalizing peer-to-peer is what White Rabbit is aiming for. P2P streaming is an untapped oasis of data and revenue that the European Audiovisual Observatory tells us is roughly 15x larger than Netflix. The technology is undeniably superior: its more efficient, greener and more easily accessible than centralised servers. That is why p2p is one of three elements that remain key to White Rabbit together with blockchain and tokens.
Blockchain can clean up the content industry’s act of too many middlemen and not rewarding its artists and rights-holders neither correctly, nor in a timely fashion. Now everyone involved gets paid each time someone streams the content. Finally, our token ensures that streamers remain anonymous as they pay for and access content. That allows fans to transform the film industry from the inside: because money talks. And when the fans talk with money, the industry changes. When the industry changes, that’s when the power has shifted back to consumers and filmmakers.
So where are we — White Rabbit? For one, the film industry in 2018 has sat up and taken notice. In 2018 we have been invited to major festivals and markets in Berlin, Cannes, Rome, Toronto, LA and Copenhagen preaching the message of White Rabbit: peer-to-peer + Blockchain + token = opportunity knocks. It’s had a major effect. The industry knows now fans can’t be expected to have ten, twenty or a hundred subscriptions to access content. They know now a few services will end up controlling global digital distribution. They know now that peer-to-peer doesn’t have to be a threat, it’s an opportunity.
We are in negotiation with major industry players to finance our Beta development and product test in markets. It’s an equity capital raise of a six-figure sum, at a moderate evaluation. Once completed, we have a minimum six months to Beta. We will then launch in our test markets, and with that data when we have proven those independent studies right or even 10% right, we will not only have very valuable data, but a very valuable product ready to launch. That is the moment we will do our ICO/Series A or combination. Naturally it depends on market conditions and regulations for ICOs particularly.
There are three things that are certain: White Rabbit = peer-to-peer + Blockchain + tokens. Only this combination can change the film industry in a revolutionary and necessary way. Furthermore, we are updating our White Paper to include elements such as fans earning tokens for CPU power. We are again fully focused on Blockchain and product. What happens with the crypto and token market no one can say for sure. Either way, White Rabbit moves forward with renewed belief in our success by focusing on the core.
Perhaps for some this may be disappointing — where is that ICO and token generation event? I have understanding but we have no doubt our reading of the market and focusing on our product is the right way forward. If you still do want to get in early, now is your chance to own shares in White Rabbit. If tokens is your thing, you will have to wait for product and test market data before any ICO. On the bright side it will be an ICO with a product, test market data and hopefully a well regulated and more mature market.
2018 was a long, hard and bumpy road. 2019 will be the road most traveled: a startup, an equity financing raise, tight cash flow but with all our hearts and guts to reap the glory. That doesn’t scare us one bit, it excites us.
Have a Happy New Year!