Slate Entertainment Group, the company behind SLATE (SLX) blockchain network, will power the first of its kind blockchain video on demand (BVOD) service, BINGE, which will facilitate a plethora of entertainment and ticketing. Slate Entertainment Group has also announced the upcoming token sale for the SLX token which is central to the entertainment ecosystem being cultivated.
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Tokens will be used to compensate creators, producers, and distributors. The same tokens will also be used as the medium of exchange for consumers looking to purchase ticketing for entertainment events. Since the tokens are secured by the blockchain network, event hosts can not only see when payments are made and received but also thwarts the problem of fake tickets.
Tokens will be also used to reward Masternode operators, which are responsible for storing videos and delivering them to BINGE customers. All users must do is host nodes and store the content, in exchange for real-world passive income. This structure also circumvents any geographical restrictions on content, and SLX tokens make sure payments are always trustless.
Presale begins on May 11th and runs for 2 weeks, ending on May 26th. Interested users must register and go through a whitelisting process in order to participate. The main token sale, which will be held shortly after this, is where most of the tokens will be sold.
48% of the total network supply of SLX coins has been allocated for distribution through the sale, with participants being rewarded with more competitive prices for early purchases in both the presale and the main sale. Up to a 45% discount based on the pre-sale price of $0.20 per token can be achieved.
The presale bonus starts at a 5% discount for the first five days and drops by 1% every five days after that. The token sale, on the other hand, starts out low at $0.27, but price increases by $0.02 every four days, peaking at $0.35 per token.
The BINGE platform will utilize blockchain technology to facilitate streaming content and transparent behavioral analytics to gain insight into consumer tastes. BINGE will also provide real-time revenue sharing between content providers and creators, as well as access to network data and analysis to improve content development.
For ticketing, Slate Entertainment Group introduces SLATIX, also powered by the same underlying network that powers BINGE, the SLATE network. SLATIX will be a mobile application for entertainment discovery and ticketing. Users will be able to use SLATIX to find new content through a curated system of authentic review, with opportunities to earn discounts as well as gain access to different events such as movies, concerts, plays, museums, and sporting events.
After tokens are issued, a basic Masternode launch and deployment of testnet will bring Phase Two to a conclusion. Phase three will begin the fourth quarter of this year, which will focus on testing the content delivery network, as well as the launch of it.
To learn more, visit Slate’s website and read their whitepaper. The Slate team is available to chat with on Discord, Telegram, and BitcoinTalk. Slate also has numerous social media platforms, including Twitter, Facebook, and Instagram. Technical discussions are held on GitHub.
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