Interestingly, Nigeria’s Entertainment industry received a boost recently with the launch of NOLLYCOIN – a new blockchain-powered platform and cryptocurrency which is developed by Nollytainment Limited –
At the Nollytainment World Press Conference held in Lagos, Dr. Ope Banwo, the visioner and driver of the platform, described this development as a deliberate strategy to address the problems limiting the impact of Africa movies in the global marketplace. ” the cryptocurrency will enhance the distribution and marketing of products within the African Movies ecosystem.”
According to him, Nollycoin will tackle the lack of access to sustainable capital needed for the production of quality movies; the issues related to copyright infringement, intellectual property protection and piracy; structural problems regarding fair compensation for collaborators and other professionals; and the challenges of having a universal means of exchange for the purchase and sale of African movies.
Speaking further, Dr. Banwo informed stakeholders and the press that the strategy and focus of the Nollycoin & the Nollytainment project is to provide a peer-to-peer content distribution platform that provides direct micro-payments to content owners and access to financing and capital to movie producers who are desirous of producing quality movies for the international market.
Other benefits highlighted are the open and transparent record-keeping ledgers for all stakeholders and the Big Open Data of the Nollycoin blockchain which is driven by Artificial Intelligence.
Also, the timeline for achieving the set objectives include the completion of the ICO (April 2018), Meeting of Stakeholders & Selections (May 2018), launch of Nolly in at least four (4) exchanges (June 2018), Beta Launch of NollyTV platform (July 2018) and the first NollyTV Exclusive TV series(July 2018).
On the Pre-ICO offer, he said between March 1 – 30, 2018 a minimum of 0.50Ethereum will trade around approximately $425, with 16,000Nollycoin equivalent to 0.50Ethereum and 30% bonus offered for all purchases.
Banwo however clarified that the sale is a token sale designed to seek crowd funding for the Nollytainment/Nollycoin project, and not a security sale. He further added that the supporters of the project are given tokens in return
Success Trendy Video :Delta Deputy Speaker,Friday Osanebi Dazzles Stephanie With N500k
COLLAPSE: LASG URGES OCCUPANTS OF DISTRESSED BUILDINGS TO RELOCATE
News Flash! Ecobank Wins CBN/NIBSS Award For Data Integrity
Cassandra Amadasun Speaks on Why Atypique Signature is a Force to Reckon with
Stanbic IBTC celebrates its gender-balanced workforce, pledges to maintain it
Cover Of The Week
- Handshake for a Safer Maritime Sector March 25, 2019
- President of Zimbabwe Receives Credentials of Qatar's Ambassador March 25, 2019
- USAID Administrator Kicks Off Farm Productivity Project in Upper Egypt March 25, 2019
- South Sudan Minister of Petroleum in Visit to Qatar, Qatar National Bank to Support Energy and Infrastructure Growth March 25, 2019
- Tanzania Selects HID Global’s Solutions for Electronic Visa and Residence Permit Services in e-Immigration Program March 25, 2019
- USAID Administrator Celebrates Kom Ombo Temple Project March 25, 2019
- Mozambique: “Speed, quality and scale of response critical to preventing disease outbreaks” says IFRC Secretary General March 25, 2019
- New European Investment Bank - Bank of Kigali cooperation to support RWF 60 billion private sector investment in Rwanda March 25, 2019
- Africa Oil and Power launches the 2019 conference in Cape Town with a focus on deal making Across Oil, Gas and Power Sectors March 25, 2019
- European Union supports water development projects in Sudan March 25, 2019
Uncategorized1 month ago
“We are not postponing elections” – INEC
celebrity radar - gossips3 weeks ago
Sir Adebutu Kensington distances self from son’s APM move
celebrity radar - gossips1 month ago
2019 Election: The Nigerian election may likely be postponed because of many challenges. In whatever way, God is in Control “- T B Joshua Reveals
Uncategorized4 weeks ago
‘I haven’t decamped to APC’ – Titi Oseni debunks rumours