What is Spokkz?
Spokkz is a decentralized TV and film blockchain ecosystem. The community-powered marketplace and ecosystem are looking to put power back into the hands of the viewer. Viewers will get SPKZ for sharing, reviewing and recommending content, which they can use to fund the projects they like.
No businessperson worth the name starts a company without any self-interest, or at least, interests in profit. The problem comes in when the business’ interests in profit, for example, exceed their interest in their customers and the value it is providing. This has been a problem with the entertainment industry. Large studios have started infringing on the consumer’s right to choose what content to consume. Accompanying this trend is an exorbitant fee paid for the content. The entertainment platforms work so well because the distribution of content is transactional and there is no room to engage communities.
Spokkz promises to be the knight in shining armor. The viewer will be empowered to choose what they want to see and how much they are willing to pay for it, thanks to the Spokkz’ decentralized system and marketplace. The Spokkz ecosystem will put the viewer communities as equal stakeholders with content creators, stars, distributors, and advertisers. They will be able to crowdfund and help in promoting TV shows and movies.
About the project
Spuul, the company that launched Spokkz, is a video-on-demand provider based in Singapore. Their platform has a huge library of content mainly from Asia, serving more than 60 million users from 180 countries. The company’s wallets pass more than 60 000 transactions per day. By the end of last year, (2017) the company attained $14 million in revenue. Spuul will make it easy for everyone to consume Asian entertainment with Spokkz. As it is, the company’s founders have seeded $10mn.
Spuul’s ecosystem is already secure for Fiat currencies. Users are able to receive top-ups from others and to top-up. Spokkz will add blockchain support to allow the wallet to accept ERC20-based tokens. Even people without a subscription will be able to use the wallet to participate in crowdfunding and community peer exchanges.
ICO funds will go to helping the platform expand into different geographical locations and languages. The ICO’s hard cap is at $12 million. The token’s pre-sale started on June 28th and is to last up to September 9th.
Engaging in the platform earns you tokens – reviewing movies and TV shows, rating and sharing them. One can spend the tokens to access premium content – stream, to shop at the partnering stores, or to exchange them for Bitcoin or Ethereum.
The token is currently priced at $0.08 and has a maximum supply of 1 billion tokens. Only 30% of these tokens will be sold during the ICO. Unsold tokens will be burned. The foundation hopes to raise $19.68 million from these tokens.
Payments are accepted in the form of Bitcoin, Ethereum, Ontology, or Cash.
How the tokens will play into the ecosystem
All the users of Spuul’s Fiat wallet use it to receive, send, and deposit money. The wallet supports services like Paypal, Teleco and credit cards. After ICO, SPKZ tokens will be included as a payment type. From there, few tokens are airdropped into wallets with messages to inform users that they can use them to subscribe or watch movies.
Spokkz and Ontology
Spokkz and Ontology have formed a strategic relationship aimed at integrating them both. The resulting platform will identify and target media assets that can be introduced into the ontology platform and included into the Spokkz community. This will create trust among movie fans, creators, and advertisers.
The current streaming ecosystem will be disrupted by Spokkz. However, all parties the content creator, advertiser, and the viewer will benefit in the following ways:
- Content creators will be able to create pre-funded content. Viewers will get an opportunity to commit upfront to watch content through private tokens.
- Funders help to fund premium content. They get a bonus token as a reward for selecting the right kind of content.
- All stakeholders are part of a vibrant community that offers engagement rewards. All efforts are rewarded.
- Influencers can exchange tokens for fiat currency.
- Non-users also benefit from sharing content- the viral reward token.
- Secure wallet for tokens (ERC20-based)
Other facts about the project which add to it are:
- It is backed by an existing business
- There is a huge market potential
The team consists of 11 members and six advisors. Some of the notable members include:
- Subin Subaiah – CEO & Co-founder of Spuul
As a banker, Subin has held senior positions in institutions like Deutsche Bank and Standard Chartered Bank. He has managed sales teams in the banking space across Asia, managing more than $300mm in revenues. He is also an actor, twice nominated as ‘Best Actor’ in Singapore. At Spuul, his conviction is that virtual cinema is the next big thing so he seeks to diversify the business.
- S Mohan – COO & Co-founder of Spuul
Mohan has also co-founded other companies such as Accellion, Space Disk, Buuk, and e.Com Pte Ltd.
- Krishanu Singhal – CFO, Spuul
Mr. Krishanu boasts of a work experience of over 18 years in industries such as para-banking, real estate, and blockchain based projects. He has prior experience in fundraising but using traditional methods such as venture capitalism.
Community and Social Media
Bitcointalk ANN: 460 posts, read 5,809 times
Telegram: 2822 members
Twitter: 140 tweets, 6103 followers
Medium: 20 posts, 67 followers
Facebook: 1 344 669 followers, 1 353 283 page likes
Github: 91 commits
LinkedIn: 2452 followers
Reddit: 4012 subscribers
Ticker symbol: SPKZ
Smart contract: ERC20
Start – End: June 28, 2018, to September 09, 2018
Soft Cap: 5 000 000 USD
Hard Cap: 12 000 000 USD
Token Supply: 300 000 000 SPKZ
Token Price: 0.08 USD
Spokkz is definitely solving a problem facing many people. If the company can build the community well enough, they may just succeed in disrupting the entertainment industry. As it is, the ecosystem has seen a notable community support and has an advisory board that is worth believing in.
On the other hand, the Spokkz team will need to interact more with would be investors on sites such as Bitcointalk and other social media sites. As it is, they have plenty of industry experience but little blockchain/fundraising experience. Investors will need assurance.
All in all, the current market is in favor of the ecosystem and Spokkz is beginning to create a buzz.