There are some interesting projects in the world of cryptocurrency which seemingly have flown under the radar for the longest time. For instance, the SingularDTV project is something few people are actively talking about, even though this project is designed to disrupt the entertainment industry as a whole. Let’s see how it plans to do so.
What is SingularDTV Exactly?
SingularDTV is not just a blockchain project. It is a blockchain entertainment studio focusing on creating a decentralized entertainment industry. With a strong focus on rights management, project funding, and P2P distribution, SingularDTV certainly has a lot of potential. Empowering artists and content creators to manage projects from development to distribution will not be an easy challenge, but the team has made some big progress already.
SingularDTV’s Use Cases
Even though SingularDTV sounds very interesting, the big question is why anyone should take notice of this venture. There are a total of eleven different modules to take note of, ranging from a legal repository to a decentralized exchange, and from equipment rental to talent management. This entertainment-oriented company wants to tackle all aspects of entertainment, but it will not be easy to do so. With all of these modules, the SingularDTV team is certainly on the right track.
Moreover, the first decentralized application for SingularDTV has already been launched. Known as Tokit, it allows content creators and artists to create their own tokenized ecosystems. From an artist-fan point of view, this particular tool will certainly help creators engage with their supporters directly. It is an interesting option to help out both new and established entertainment artists, as they will also be able to improve their overall revenue in the process.
SingularDTV’s legal repository uses smart contracts for projects created in Tokit. The codex is a research and design lab to develop tokenized ecosystems and update Tokit with new smart contract capabilities in the years to come. Perhaps the biggest feature is the Launch Pad, which will help artists raise funds through their tokenized ecosystems in Tokit. It is evident that SingularDTV’s functionality mainly hinges on the success of Tokit, as there are a lot of use cases for it.
The SingularDTV Token
As is the case with every blockchain project, SingularDTV has its own token, known as SNGLS. Since all new “artist ecosystems” have their own tokens, many people are wondering what the future holds for SNGLS. The tokens themselves represent property, utility, income/rewards, and fungibility. Every application built on top of SingularDTV will bring more value to SNGLS as well, which is good news for existing and future token holders. It will be interesting to see how this token evolves once more of the ecosystem’s features come to market.
What Comes Next for SingularDTV?
With so many things yet to happen for SingularDTV, it is evident the coming years will be rather interesting for this project. For now, the focus is on attracting more artists, building out the decentralized trading platform known as SingularX a bit more, and upgrading the smart contract functionality. Additionally, the team will launch the Rentalist service for P2P equipment rentals and crew hiring. Other upcoming platforms include Paycheck – a payroll application for Ethereum and ERC20 tokens – and Blockeeper, a SingularDTV app allowing artists to do their accounting. The launch of EtherVision may also occur this year, although that will heavily depend on how this year’s beta test performs.