BNB Chain & RITESTREAM partnership Twitter Space AMA Key Takeaways

“Bringing films and movies to life in web3.”

Who is Riaz Mehta?

• CEO or Allrites & ritestream.
• With a career in technology (as a software engineer) and media (as a television producer).
• Following his passion, he created shows broadcast on Netflix, Hulu, Amazon Prime and other major ones.
• He has been in crypto since 2013 when he bought his first Bitcoin.
• 2012 Emmy Nominee.

***Non-Scripted Entertainment: The Challenger Muaythai 2011

https://www.imdb.com/name/nm3268606/awards

https://www.imdb.com/title/tt2062931/?ref_=nmawd_awd_1

Quote: “I’ve experienced the pain points of a creator firsthand, and I want to solve those problems for the creators and the whole industry in general.”

What is Allrites?

• Established and sustainable B2B business.
• Web2 marketplace for film and TV content that already generating revenue.
• Vision to solve the problem of monetization of content, as often your rights are controlled by middlemen by distributors, and much of the money disappears down the value chain.

From other AMAS:

• Help and bring all those web2 people into web3.
• Not dependent on hypes or token price drops.

What is ritestream?

• Web3 decentralized platform.
• To power back in the hands of the creators.
• Launchpad for film and TV content with NFTs and get funded through the community, who will have a stake in these projects, ownership and transparency.
• Utility NFTs with lot more ongoing benefits.
• If the project succeeds, then you share in that success. Imagine if you had invested in the Star Wars franchise, for example.

What is Crypto Knights?

• The first ritestream Original TV Show, “Crypto Knights”, is like a Shark Tank with the vision to bring crypto to mainstream audiences, whereby you’ll be able to see these projects come to life.
• A Shark Tank for crypto to own a piece of a very innovative TV show in web2 but also benefit from all the projects that participate within that TV show. It will reward you through staking and dividends from the projects featured within the TV show (you become a stakeholder in all those projects).
• Watch to Earn films in the Metaverse cinema and interact with other users.

What is a Shark Tank?

• Have entrepreneurs pitching to a navel of VC investors.
• They will be able to see web3 projects pitch through the OG’s of crypto. These projects will receive funding from these OG’s, but also mentoring in that journey.
• From OG’s as the founder of an exchange or founders of projects, venture capitalists, there will be incubator programs. Support infrastructure for these projects.
• It’s a multibillion dollars franchise today.
• For ritestream, they are not sharks. They are knights because they are the saviours of crypto.

***Shark Tank: an American business reality TV series (from the international format Dragon’s Den, which originated in Japan as Money Tigers). It shows entrepreneurs making business presentations to a panel of 5 investors or “sharks” who decide whether to invest in their companies.

https://en.wikipedia.org/wiki/Shark_Tank

How to bring the film industry into the Metaverse and Web3

Quote: “To have ritestream cinemas in every metaverse”.

1. Creating content in web3.
2. Empowering people to have ownership of that content through entities.
3. It will succeed when we bring well-known producers, Hollywood or international producers, onto the platform to create content because that gives confidence to the community.
4. We have preexisting relationships. We’ve got people that have worked at Fox, Disney and big studios.
5. There is a fantastic opportunity for monetizing content in the Metaverse. Many people will spend more and more time having real-time experiences, communicating with their friends in the Metaverse and enjoying movies and lifestyle.
6. Partnerships with Metaverses (Raca, Planet Theta, Alterverse…).
7. Vision to have these ritestream cinemas in the middleware so that when content is being created on the launchpad, people can watch that new movie release and have that shared experience.
8. The vision is to bring a traditional business that hasn’t undergone massive change for 100 years into web3 and do it ingeniously and intuitively, engaging the fans, which will benefit the creators. This is going to be the future.

Quote BNB Chain: “I see ritestream like the Sunsets Festival of crypto content creators.”

What were the challenges to getting ritestream started?

• As ritestream is trying to disrupt an industry and trying o do something very innovative, it will take work. There’ll be natural inertia and resistance.
• Get the traditional folk across the wire, get early adopters, and slowly, others will follow.
• Get the first big names onto the platform.
• The investment community understands GameFi and DeFi but doesn’t know how films and content would play in web3.
• Get funding for the project because a lot of the traditional investors, even in crypto, they’re not familiar with the space and explain to them how the space works.

About ritestream APP

• Watch to earn content using $RITE tokens and get rewards for your reviews.
• A lot of web2 content wasn’t created on the launchpad into web3 on the app.
• To get feedback from the community about what content works and what doesn’t work. When you earn the $RITE tokens, it’s actually when we know what people like.

For ritestream investors

• You’re no longer kind of a passive audience in this process.
• You’re contributing to every layer of the production process, every layer of the monetization process.
• You’re benefiting at every step.
• Your voice is being heard.
• You’re connecting with the creators ultimately.
• You can own a piece of Crypto Knights which will become a unique television IP.
• We have partnerships with Amazon Prime, but you can watch our content on many other platforms because we have a preexisting distribution network.

Quote: “We’re bringing the power back. And this is what decentralization is all about. Giving the power back to the people, giving the power back to the creators.”

About ritestream rebranding

• We have learned a lot of lessons, and we want to incorporate and implement them into how this project plays out in the tokenomics in the white paper and the brand identity. This is a lot bigger than even we had imagined initially.
• This can be a multibillion-dollar project that stands toe to toe with the giants of web2, like Netflix.
• Newly looked website, refresh our white paper and token army, revamps of streaming app.

How to reach people not used to crypto?

• We have Allrites, the content distribution web2 business.
• When we place Crypto Knights on some of the major platforms like Amazon Prime, that automatically will attract a non-crypto audience. They’ll come to watch the show, get engaged and start looking at how many of these projects work. They might become fans of the project, the show, and the NFTs.
• We’ll have additional material on Youtube, on other social media platforms that will help people understand what this is all about.
• We go to trade fairs like the Cannes Film Festival and Lipcom in South France and do a lot of PR activity around that. Riaz was at MIPCOM and held several media interviews, and they asked about web3.

From community

• Please give us feedback, and interact with us, because we get inspiration from users, to let us know their thoughts.
• We believe in decentralization. We’re building this for you. This is for the people. And I want to hear what people want. Because if we give you what you want, the project will succeed.

This was gathered via the BNB Chain x ritestream Twitter Space with recently added additions from project roadmap 2023

Sources:

December 6th 2022

https://twitter.com/i/spaces/1rmxPkBpnzDJN
https://medium.com/ritestream/ritestream-ceo-riaz-mehta-cpo-jamie-bodkin-ama-key-takeaways-12dd83a85e28