There are nearly 1,800 cryptocurrency tokens on the market, some successful, some less so. But the TaTaTu Token (TTU) is the only one that is actually integrated into a real business model.
The TTU will form a core part of the TaTaTu entertainment platform, used to reward people when they watch movies, music videos, sport, gaming and celebrity content on the app or web app.
But unlike Netflix and Amazon, TaTaTu isn’t subscription-based. In fact, TaTaTu goes one step further. Not only is TaTaTu free, but the platform pays people to watch content.
Users simply have to sign up and create an account and a digital wallet – custom built by TaTaTu for a seamless set-up process. Then tokens are automatically deposited into the wallet as they watch.
In fact, when friends look at a piece of content, the person who invited them will also be rewarded with tokens. Plus, when users share a piece of content or when their post is viewed, they will receive tokens too.
It’s a genius idea: making money out of your free time. And it’s ideal for the current climate, where people are turning away from Facebook; concerned about what they and other platforms are doing with all the data they’re collecting.
TaTaTu founder Andrea Iervolino is clear about its benefits: “A perfect world is where you as a user can post your own photos and videos and enjoy entertainment – and finally you will get rewarded for that.
The message is clear: you have a right to being paid for the data you hand over. It isn’t the right of the owners of the platform to sell it and keep all the profits.
By launching TTU, Iervolino believes he is “creating a cryptocurrency for the masses”. With many other cryptocurrencies, Bitcoin included, people can only mine if they have a sufficiently powerful computer. In the case of TaTaTu, people mine by watching and sharing.
Meanwhile, advertisers will pay in TTU when they buy ads on the platform – giving TTU true utility. It leads to an internal economy where the token is bought and sold and circulated regularly, contributing towards maintaining a steady TTU price, and a valued entity. It also makes for full transparency for advertisers, with records of transactions recorded on the blockchain.
At least $100m-worth of tokens have been purchased by billionaire investor Monika Bacardi in a private sale. Since then, a hard cap of $500m has been reached. It means that, unlike many other cryptocurrencies, there will be no ICO. It also shows that many investors truly believe in the token.
There are other plans afoot. Iervolino intends TTU to be an integral part of the movies he makes. Already the new Lamborghini feature starring Antonio Banderas and Alec Baldwin is paying staff in TTU. Just announced is the part financing of The Sound of Freedom, with Jim Caviezel and Mira Sorvino. Beyond that, ticketing of movie festivals and events will be in TTU. Plus his team is building a fully transparent digital rights system for content providers based on the blockchain.
TaTaTu is a completely new business model, but it’s one that is embedded in sound economics and good practice – with the TTU token at its heart.
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