Ritestream TownHall “The RITE of Passage” Recap

Published in

ritestream

5 min readJun 11, 2024

Introduction:

In a highly anticipated Townhall AMA, Joseph Kahn, the Chief Strategy Officer (CSO) of Ritestream, provided an in-depth look at the current state and future plans for the CryptoKnights project. The AMA covered a wide range of topics, including the project’s progress, upcoming marketing initiatives, format changes for the show, NFT sales, and the introduction of the game-changing CryptoKnights Pad (CKPAD).

Current Status and Marketing Initiatives:

Joseph Kahn kicked off the AMA by sharing the project’s current status. He revealed that reality filming for CryptoKnights has already commenced, and the studio filming dates have been locked in for July 21st. This marks a significant milestone for the project, as it brings the team one step closer to delivering the highly anticipated show to its audience.

One of the most exciting announcements made during the AMA was the lifting of the marketing embargo on June 15th. This development will allow the Ritestream team to fully promote the CryptoKnights show, share captivating videos, and build substantial hype around the project. With the embargo lifted, the team can now engage in a sustained marketing push to raise awareness and generate excitement among potential viewers and investors.

To ensure widespread distribution, Ritestream has secured a premium streaming platform and partnerships with over 20 Southeast Asian TV channels. This impressive network will enable CryptoKnights to reach an extensive audience of over 300 million households, significantly increasing the show’s potential impact and reach.

Moreover, the team is actively recruiting 100 Key Opinion Leaders (KOLs) to support and promote the project. These influential individuals will play a crucial role in amplifying the project’s message, engaging with the community, and driving the sustained marketing efforts necessary for long-term success.

Show Format Changes and Enhancements:

During the AMA, Joseph Kahn provided insights into the format changes and enhancements planned for the CryptoKnights show. Season 1 will be streamlined into a 5-episode “pilot season,” with a focus on delivering high-quality content showcasing 20 carefully selected projects. This approach will allow the team to refine the show’s format and gather valuable feedback from viewers.

One of the most intriguing additions to the show is the introduction of a “pressure room” segment. In this segment, featured projects will have the opportunity to watch each other’s pitches, adding an element of competition and excitement to the show. This innovative format change is expected to create a more engaging and dynamic viewing experience for the audience.

To further increase viewer engagement and stakes, CryptoKnights will feature a series winner, who will be selected at the end of the season. The inclusion of a series winner adds an extra layer of anticipation and rewards for the participating projects, as well as for the viewers who follow their journey throughout the season.

NFT Sales and Token Allocations:

The AMA also delved into the details of the NFT sales and token allocations associated with the CryptoKnights project. Joseph Kahn revealed that a total of 1,856 NFTs were sold, with 793 NFTs sold in the seed round and 1,063 in the private sale. These NFT sales have generated significant interest and support from the community, demonstrating the strong belief in the project’s potential.

NFT holders will be rewarded with token allocations from the 20 projects featured on the CryptoKnights show. The specific amount of tokens allocated per NFT will vary depending on the individual negotiations conducted with each project. This unique approach ensures that NFT holders receive a diverse range of tokens, providing them with exposure to multiple promising projects.

It is important to note that the token allocations will be subject to vesting periods, which will be clearly outlined on the CryptoKnights Pad (CKPAD) platform. This vesting structure aims to promote long-term commitment and stability within the CryptoKnights ecosystem.

CryptoKnights Pad (CKPAD) — A Game-Changing Platform:

One of the most significant announcements made during the AMA was the introduction of the CryptoKnights Pad (CKPAD). CKPAD is a revolutionary platform designed to provide NFT holders with a seamless and efficient way to manage their token allocations.

Through CKPAD, NFT holders will have access to a user-friendly interface that allows them to view and track their token allocations from the various projects featured on the CryptoKnights show. This centralized platform will offer users a comprehensive overview of their holdings, making it easier for them to monitor and manage their investments.

In addition to portfolio management, CKPAD will feature a built-in marketplace where users can buy and sell individual token allocations. This innovative feature provides NFT holders with increased liquidity and flexibility, allowing them to adjust their holdings based on their investment strategies and market conditions.

Moreover, CKPAD will serve as a platform for Ritestream to offer additional project tokens for sale. These token sales will be strategically designed to drive demand for the $RITE token, the native cryptocurrency of the Ritestream ecosystem. By requiring users to stake $RITE tokens to participate in certain allocation sales, the team aims to create a virtuous cycle that increases the utility and value of the $RITE token.

Future Plans and Potential:

Looking ahead, Joseph Kahn shared some exciting insights into Ritestream’s future plans and the immense potential of the CryptoKnights project. The team is actively exploring the concept of RWA (real world asset) tokenization for media projects as a future business model. This innovative approach could revolutionize the way media projects are funded and monetized, opening up new avenues for growth and investment.

The Ritestream team envisions a future where the CryptoKnights project achieves a multi-billion dollar market cap, positioning itself as a major player in the rapidly evolving world of blockchain and entertainment. While specific details regarding this “Phase 3” business model were not disclosed during the AMA to maintain a competitive edge, Joseph Kahn assured the community that more information will be revealed at the appropriate time.

Conclusion:

The Ritestream CryptoKnights Townhall AMA provided a wealth of information and insights into the project’s current state, upcoming initiatives, and future plans. From the commencement of reality filming and the lifting of the marketing embargo to the introduction of the game-changing CKPAD platform and the exploration of RWA tokenization, the CryptoKnights project is poised for significant growth and success.

With a strong focus on delivering high-quality content, engaging audiences, and driving value for $RITE token holders, the Ritestream team is working tirelessly behind the scenes to bring their vision to life.

As the project continues to evolve and new developments unfold, the CryptoKnights community can look forward to an exciting future filled with opportunities and innovations.

Stay tuned for further updates and announcements from the Ritestream team as they continue to shape the future of blockchain-powered entertainment through the groundbreaking CryptoKnights project.