Earlier this month we announced our partnership with MovieBloc, a new participant-centric film distribution platform. MovieBloc seeks to reform the film industry with blockchain technology and create a system for all film distribution participants, instead of a simple content platform for content providers and consumers. The problems MovieBloc sees in the current film industry and will address are:
- Industry oligopoly
- Limited funding opportunities
- Uneven revenue distribution
- Non-transparent revenue
- Limitations on film distribution
- Supporting creators
- Guaranteeing the profits of creators
- Lack of transparent revenue and data
- Global reach
Some may see MovieBloc’s attempt to overturn the film industry as a tall order, but backed by Pandora TV and KMPlayer, MovieBloc’s drivers have the credentials of building the foundations of new industries.
KMPlayer and Pandora TV
KMPlayer has 812 million total downloads, 500 million monthly playbacks, and 20 million monthly active users across more than 150 countries.
KMPlayer is now owned by Pandora TV. Founded in October 2004, Pandora TV was the first video sharing website in the world to attach advertisement to user-submitted video clips and to provide unlimited storage space for users to upload. A top video sharing website, it is the number one platform for digital videos in South Korea.
With their popularity, the drivers of MovieBloc believe KMPlayer and Pandora TV can garner huge traffic from their existing user base. Those who use KMPlayer will notice MovieBloc’s logo when they open the next version of their player. We are excited for MovieBloc’s beta service launch in Q3 and the project’s IEO in Q2.
A closer look at MovieBloc
The participants in the MovieBloc ecosystem include:
Creators: Individuals or groups with content distribution rights, such as content providers and directors. Creators receive their share of the revenue automatically from MovieBloc smart contracts.
Curators: People who advertise and curate films. Curators can hire translators or designers to market films and make a profit.
Translators: Translators can be hired by curators or make subtitles voluntarily and receive donations from creators or viewers.
Users: Users can be rewarded by reporting illegal content and writing film reviews.
Foundations: Supporters of the MovieBloc ecosystem aim to provide an optimal environment for users. Foundations will also plan and execute offline marketing events.
MovieBloc consists of three layers: the decentralized core, the service layer, and the application layer. Most of MovieBloc’s content is stored on cloud servers and databases. Blockchains are mostly used for storing hash indexes of transactions and data.
CJ E&M is South Korea’s biggest entertainment and mass media company. Its businesses encompass film, TV, performances, music, media, and games. Chris Kang, MovieBloc’s CEO, and Jeffrey Jin, its COO, have both worked for CJ E&M and Pandora TV before. Peter Kim, its CSO, is the Founder of Pandora TV.
MovieBloc’s token ticker is MBL. There will be a total of 30 billion MBL which will become an Ontology token standard at MainNet. MBL is a utility token that will appreciate as the number of users increase. An IEO is planned, further details will be announced at a later date.
The token distribution leaves 10% of the initial supply to the Ontology Foundation, which will be reserved for community events and other initiatives like we have seen with the current TOP Network airdrops.