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LiveTree, a UK-based social crowdfunding platform, is announcing a “reverse ICO” as it attempts to raise funds for the development and operation of its new blockchain-based project: Advanced Decentralized Entertainment Platform for Transparent distribution, or ADEPT.
Since the company’s founding in 2015, LiveTree has been able to carve out a niche for itself in the crowdfunding industry — in the UK, it has captured 5% of the entertainment crowdfunding market.
Additionally, in the last 2 years, LiveTree has been able to forge partnerships with some high-profile people in the British entertainment industry including the British Film Institute, Red Rock Entertainment, the Screen Arts Institute, and 14,000 industry suppliers worldwide. With Red Rock Entertainment in particular being the choice for many well-known TV shows on British television as well as the studio choice for many successful British films.
LiveTree ADEPT is decentralized conception of the traditional crowdfunding model that LiveTree initially began with. It leverages blockchain tech to lower fees and costs by automating backend operations such as payment settlement. Additionally, the blockchain model could also remove costly contracts and introduce the world’s first end-to-end, blockchain based digital rights management distribution platform.
The company plans on raising up to $50 million million via a crowdfunded sale of ADEPT’s native token, Seed Token (Symbol: SED). The platform itself is built on top of the Ethereum blockchain and will be used by LiveTree as a means of increasing its market share by fostering a “token incentivized, [peer-to-peer] community for film and tv distribution.”
Some things LiveTree hopes to accomplish with its new blockchain-based concept includes disintermediating digital rights management, Essentially, with ADEPT, owning and sharing of online content will be moved to the blockchain. This opens possibilities for the general public to own what they watch, and earn profits derived from exploiting content distribution e.g. from subscriptions, pay-per-view, and advertising.
Additionally, legal contracts associated with making a tv show or film is often viewed as costly overhead. Because ADEPT employs the Ethereum blockchain in its implementation, it can replace these human contracts with smart contracts — reducing costs and eliminating the need to trust human beings to enforce them.
LiveTree ADEPT has a 5-year roadmap to capture market share. In addition to the ADEPT community approach, LiveTree will license films specifically for ADEPT through LiveTree Incubators fund, this is expected to generate significant Seed value. Incubators in LA, London and NYC will produce LiveTree Blossom TV “Originals” which will be used to further increase the value of the token, while promoting mainstream adoption of Blossom TV.
LiveTree Token Generation Event (TGE)
The token sale itself started on Friday December 1st when a pre-sale of 35 million SED was launched, and this will run until the 15th December. In total, 256,000,000 SED wil be created, with 80% Of these available in the TGE. During the Pre-Sale, 1ETH will net backers with 2,000 SED, plus bonus. During the main sale, 1ETH will be transferrable for 1,000 SED.The main sale will begin on 7 January 2018, 10:00 UTC and end 21 January 23:59 UTC.
More information at: https://adept.livetree.com