Ritestream CEO Riaz Mehta & CPO Jamie Bodkin AMA - Key Takeaways
Ritestream’s successes in 2022
- Bring Kenny (SM & CM), who helped to bring more dedicated expertise onto the project, an outstanding team of mods and build a proper community.
- Launch the mobile app on Android, get it live, and have the content on there, utilising the content.
- Have Metaverse partners (Raca, Planet Theta, Alterverse, Galaxy Arena…) and focus on something which will be a proper niche for the right screen for us, being able to be in a position where we are uniquely fully licensed content.
- Rebranding that had made a big difference in how the project is perceived.
- Fundraising, the token launch, has allowed us to build out the team and get to this point.
- We brought a solid developer lead, Alex, who has helped us dramatically in just doing more minor things, changing our thinking regarding how we approach things.
- Relationship with Banxa.com, anybody who goes along to banks and his partners can buy rite tokens via credit card.
About $RITE staking
- We were historically working with Alliance Block.
- From this year, build our internal stake-in mechanism that will sit directly on ritestream.io, so there is no need for a third party.
- For later on in the year. If there is an overriding demand, we may need to spin up some new pools.
- More films, series and documentaries are in the app monthly — fresh content in the next couple of weeks.
Ritestream’s ROADMAP 2023
- 2022 Q4 working with a third party to build the entire ritestream ecosystem with the Core components: launchpad, marketplace and streaming platform.
- First weeks of 2023: tie that into a proper working roadmap for 2023, with updates throughout the year so that everybody can see it.
Q1 2023
- Several bugs and quality-of-life fixes are required for the mobile app experience (thanks to new developer lead Alex). To ensure that everything´s working there.
- Metaverse licensing: looking for solutions for their projects. Easy solution for them, with fully licensed content to serve up in metaverse cinemas for all our partnerships. To solidify this into something much more concrete, we can take it to all our partners right across the board.
- There are a few things that we still need to address on Coinmarketcap. $RITE Coin / Project collateral: updated the website, social media, Coin Gecko, etc., ensuring any mentions to ritestream are linked to the right places and using the correct branding. needWe are giving the token the best possible to grow from Q2 onwards.
Q2 2023
- Crypto Knights (shark tank for crypto) mint, the first project for the ritestream launchpad. We are working with the guys at Enjin Starter (who were part of our rite token launch as well), and they are helping to launch Crypto Knights NFTs, which all of you can participate in. Now we are identifying the Knights for the project, the OGs of crypto, and we want to make something authentic that resonates with the people and the natural platform for projects to get discovered and launched. Several incentives will be baked into that for project followers and rite token holders.
- Launch Web-based video app: Because the Apple iOS app rules do not allow NFTs, we want to create a device-agnostic platform available for all. We are building a browser-based video streaming service to replace the mobile app version. You can access the content on the ritestream app library to earn rite rewards, digest content, and review the content.
- Secret TV project: people in the community can guess where this is going, but we´re also sounding many different avenues around launching something to do with crypto in the TV space. It´s exciting, but it´s very much in its embryonic stages.
***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, VC´s, there will be incubator programs — support infrastructure for these projects.
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
Q3 2023
Quote: “We want good stories to be able to get told”.
- Launchpad UX/UI: in its very simplest form, ritestream is about democratising the creator economy and is based on the inability of creators to get funding for their projects. We want good stories to be able to get told. We want to deliver that before the end of the year.
- Our own token staking mechanism is built into the platform.
- Integrated payment: we want banxa.com (to buy rite coins with a credit card) integrated onto the platform.
Q4 2024
- Launchpad build live: building out the remaining elements and pushing that into a live state, starting to get projects funded.
- 2024 Joint community planning.
Community´s questions:
26:37 Can you hold a couple of AMAS a month?
We will have a couple of monthly AMAs to update the community.
27:28 Is your platform suitable for Crypto beginners? Or does it only appeal to professional users? And what are your goals this year?
- We want to remove any high barriers to using blockchain or crypto.
- A large volume of the creators we want to utilise the platform are not necessarily interacting with crypto, so we want it to be easy to use, set up, and understand.
- Ritestream is not like a blockchain or crypto project, and it´s about trying to get people funding for films. To keep this as simple as possible.
29:36 Where does ritestream get the strength to compete with new players?
- Deep domain expertise, having been in this industry for a long time and having the relationships we can tap into within the industry.
- We are experienced, business people. We have had several startups before this, so we know the journey. We have resilience to go through challenges. We are able to tap into our experience in the web2 domain.
- We are conscious of treating this like a business to build long-term growth in web3.
- We have Kenny, the web3 guy and Riaz from web2, so we´ve got a nice blend to make something successful. We´ve got a variety of different people from different cultures all over the globe.
- We want this to succeed because it´s something we all believe in.
33:00 What are the long-term gains and benefits for investors if they choose to invest in the project?
- Metaverse adoption will inevitably become much more prevalent.
- We are really well placed at the moment because when you speak to projects right across the border, they don´t necessarily need to be in the metaverse.
- We can deliver content and make it easier for anybody who wants to implement that content. That´s a huge win.
- Once we can industrialise that process and then push it out to various partners, we´re all aware of some tremendous potential partners in the space.
- You visualise a ritestream cinema in every metaverse as the metaverse expands. We become the vehicle for monetising metaverse content because we are first out of the gate.
- The utilisation of our rite token to watch content across the metaverse. The next Hollywood blockbuster will be watched in a ritestream cinema, and people will pay for that with $RITE coin.
36:00 Do you have any bug bounty program to check for weaknesses? In what way are you plan on making the project more complete?
We´re lucky to have a very vocal community that lets us know precisely when we´re doing well and not. We´re always listening to you guys.
We’re always available if there are any issues, like a bug or any question about the community, the project, or anything. We have the most amazing mods as well who are happy to help.
Our whole team´s always there, continuously checking, viewing and seeing the discourse in our community.
We´re always running events (like the movie mania one in our Discord), and there are always opportunities for fun, for entertainment. The fun doesn´t stop here.
Questions with time marks:
00:53 What special dates or plans did you have for Valentine´s day?
04:00 What successes were made in 2022?
08:30 Staking is now ended, correct?
10:13 When are you adding more films, TV series and documentaries to the ritestream app?
11:52 What is the roadmap for ritestream in 2023?
16:29 Q2, Around Crypto Knights, where are we and on who we´re are working with to help us bring this to market?
21:31 For the second half of the year…
23:21 And then for Q4…
26:37 Can you hold a couple of AMAS a month?
27:28 Is your platform suitable for Crypto beginners? Or does it only appeal to professional users? and what is your goals in this year?
29:36 Where does ritestream get the strength to compete with new players?
33:00 What are the long-term gains and benefits of investors if they choose to invest into the project?
36:00 Do you have any bug bounty program check for weaknesses? In what way are you plan on making the project more complete?
This summary was gathered via the ritestream’s AMA
Source:
February 15th 2023 14 pm UTC
