Ryan Kavanaugh, co-founder of Relativity Media and Triller has teamed up to launch a tokenized video streaming service. The company is set to release its first NFT in the form of ‘Triller’s Coin‘.
The crypto industry is continually moving forward with the latest project coming from Ryan Kavanaugh, co-founder of Relativity Media and Triller. This tokenized video streaming service will introduce their first NFT in the form of ‘Triller’s Coin’.
Instead of selling tokens to investors during an ICO, the company has opted for a more traditional route of launching a new coin on the blockchain. This ‘Triller’s Coin’ will be released to the public, with all proceeds going towards RYOT Films and Triller.
Ryan Kavanaugh also went on record explaining their decision to use NFTs as opposed to ICOs: “I don’t like doing ICOs because it doesn’t feel like you’re actually buying a token. It feels like you’re buying an ‘IOU’ from us. We would rather do it this way because it is better for the users, and at least then they have something that they can own.” Kavanaugh emphasized the fact that NFTs are exponentially more tangible than their ICO counterparts, with real-world value.
The NFT is airdropping ‘Triller’s Coin’ for free to a limited number of customers. This new digital currency is backed by Triller revenue from subscriptions and sales, as well as the billion-dollar blockchain venture capitalist firm BlockTower Capital. In addition to that, they have partnered with both RYOT Films and BlockTower Capital to launch Triller’s new token, ‘Triller Coin’.
Ryan Kavanaugh is also the founder and CEO of RYOT Films, an independent film company that was co-founded by actress/filmmaker Elizabeth Banks. They have worked alongside agencies such as the World Bank in order to give back to impoverished communities in India, Haiti, Liberia, Nepal, and Indonesia.
He concluded by saying: “Blockchain technology is here to stay”, adding that they are “extremely happy about our partnership with BlockTower Capital and welcome them into the family.” Ryan Kavanaugh Launches NFTs appeared first on ZyCrypto.