The GRMTK Launch — LIVE — Nov. 9!
Tokit and the Emerging Field of Token Economics
Zach LeBeau, CEO of SingularDTV
Remember, remember the ninth of November…
Our first wave of crypto-artists and projects are set to launch, lead by Gramatik and his GRMTK tokenized ecosystem. Gramatik’s token launch will stream live during his concert in Zurich, Switzerland on November 9.
The launch of GRMTK will kick off a 3 day event where SingularDTV will showcase the potential of Tokit and LaunchPad, the first decentralized applications of our entertainment economy. During this event various projects will be tokenized from films to television and even non-profit organizations. The revolutionary convergence of network and data that allows artists and creators to leave gatekeepers and intermediaries behind and seize control of their intellectual property rights and value flow has begun.
Tokit/LaunchPad are two Dapplications being bundled into one and will be released a few days before the launch of GRMTK. With Tokit, artists and creators will be able to create projects on the blockchain and empower their intellectual property with tokenized ecosystems programmed with the ability to control and manage the flow of their rights and royalties as well as perform token launches to interact at the development level with their audiences.
GRMTK’s TOKEN ECONOMICS
Token Economics is an emerging field. It’s not enough for SingularDTV to just create decentralized applications for artists to interact with. A third vital component is necessary in order to maximize success and potentially trigger economic sustainability — the appropriate economic model for each artist and/or project. Without these economic models the applications won’t work. These economic models are what SingularDTV is calling, Token Economics. SingularDTV has developed more than a dozen economic models for various artists and projects and will be putting them to the test throughout 2018. While some of our economic models are quite complex (Liga de Artistas is an artist consortium model that requires not only Project Creation tokens but Economic Sustainability tokens), the GRMTK model is straightforward and elegant in its simplicity.
Gramatik’s goal with the GRMTK tokenized ecosystem is to ensure an entertainment economy is formed where he will never need to go outside his fanbase for permission to create again. It is a balanced and reciprocal relationship, one where his fans fuel his creation while at the same time benefitting from the ownership of Gramatik’s intellectual property and future royalties. The more value Gramatik puts into his channel, the more holders of GRMTK will be rewarded with that value. It is a revolutionary concept and the first of its kind — made possible by the convergence of data and network as well as the consensus algorithm that blockchain technology provides.
Gramatik will be releasing 25% of GRMTK via Tokit/LaunchPad to inject his economy with the ETH equivalent of $2.25m. With this $2.25m, Gramatik will ignite his economy by creating music, movies — anything he wants — and placing these creations on his GRMTK distribution channel. SingularDTV will be launching a peer-to-peer distribution platform called EtherVision in Q1/Q2 of 2018. It is here the GRMTK channel will live. With the rest of GRMTK tokens — his reserve — he will use those tokens in the years to come to continually provide content to his channel, presumably for the rest of his career! A more detailed account of Gramatik’s plans will be published on his LaunchPad page before Nov. 9. It is also important to note, that the features allowing for the transfer of royalties will not be activated until content is placed on his platform.
SingularDTV will be launching several artists and projects starting in November to trigger a massive amount of creation — all kinds of projects to be placed on EtherVision when it launches.
How Does GRMTK Increase the Value of SNGLS?
There are several ways that GRMTK adds value to the SNGLS token. First, a flat fee is collected when Gramatik creates his project on Tokit. Secondly, a fee is also collected by SingularDTV when GRMTK is launched. Thirdly, a percentage of each transaction that occurs on GRMTK’s distribution channel will also be collected. Other SingularDTV applications will also collect flat fees or percentages when used. All of these fees are embedded in the SNGLS token, increasing its value.
While anyone will be able to use Tokit to onboard their intellectual property to the blockchain and create their own tokenized ecosystems powered with various smart contract functions and features, the use of LaunchPad will be self-regulated throughout it’s beta phase. This is the case because SingularDTV needs to ensure that LaunchPad is not being used to promote scams or unregulated securities. Users will be able to create their LaunchPad pages and ready their tokenized ecosystems for launch campaigns, but must first go through a verification process with SingularDTV compliance personnel. One day LaunchPad will be permissionless, but not in the short term. It’s unfortunate but this is the world we live in and SingularDTV must protect those in the cryptosphere from potential bad actors.
We are also excited to announce that SingularDTV will be selecting projects for launch every Friday until EtherVision is released. Starting Nov. 24 and running until March 30, 2018 SingularDTV will select projects that have created tokenized ecosystems in Tokit and campaign pages on LaunchPad. These selected projects will be released into the cryptosphere. SingularDTV will also be choosing one project every Friday to fund as part of SingularDTV’s channel of original content.
This is an exciting new entertainment world we are diving into… it’s just the beginning and it will be a long and exciting road. Blockchain technology is extremely young and it will take years in order for SingularDTV’s vision to come to fruition, but we invite anyone and everyone who’s eyes are opened to participate in this amazing adventure with us.
Zach LeBeau, CEO of SingularDTV