LiveTree Adept ICO details
Start Date: 2018-1-31
End date: 2018-2-23
- Site: LiveTree Adept site
- Twitter: https://twitter.com/livetreehq
- Facebook: https://www.facebook.com/LiveTreeADEPT
- Github: https://github.com/live-tree/LiveTreeSeed
- Bitcointalk: https://bitcointalk.org/index.php?topic=2302310
- Medium: https://medium.com/@LiveTree
- Telegram: https://t.me/joinchat/GVydbhAbb1RzxAxQW0swmg
LiveTree Adept – World’s first blockchain film and TV rights funding and distribution platform
LiveTree is an established, socially responsible crowdfunding company based in London, UK. Over the last two years, it has captured 5% of the UK crowdfunding market (in the film and content category) and forged partnerships with several leading names in entertainment, including the British Film Institute Future Film, the Screen Arts Institute, Red Rock Entertainment and 20 independent organizations. LiveTree has compiled a contact directory of 14,000 entertainment suppliers and thousands of individuals who work across film, TV and content.
Having established a unique, successful and sustainable crowdfunding model2 for film and TV projects, LiveTree and its partners have identified the following problems within the entertainment industry:
- Creative project funding, creation and distribution: The entertainment industry suffers from incoherent methods of funding. There is no best-practice funding model, with the result that project finance is often structured on a piecemeal, project-by-project basis, driven by access, timing and contacts. The same incoherence is true of the current content distribution process. Traditionally, new content is shared with the wider market via film festivals and content fairs. This route to market is frequently out of reach for creators, meaning that valuable content — potentially the next big TV drama, for example — can be overlooked. The current system also impedes broadcasters and distributors seeking fresh new content since it is opaque, inefficient and lacks a consistent mechanism for evaluating the market potential of projects in economic terms.
- Content gatekeepers: The big online distributors, such as Netflix, Google and Facebook, act as creative gatekeepers for new content. By dominating the market, filtering and pre-selecting what is available to viewers based on their own profit, these corporates add yet another barrier preventing consumers from accessing the content they want. Consequently, content-makers currently have no direct, peer-to-peer means by which they can contact their — sometimes millions of — engaged fans, who would willingly pre-purchase their content and promote it passionately among their friends and contacts.
- Bridging the gap between traditional creative industry and technology: Economic turbulence has taken its toll on creative projects, and budgets have shrunk markedly in recent years. Arguably, projects are becoming more dependent on personal connections, private wealth and insider knowledge than talent and dedication.
It is clear that a step-change is required to help consumers and creatives develop content within a structured, market-driven approach to distribution and financing. LiveTree is set to embark on a new project to addresses these industry challenges. This white paper sets out its solution across three key areas:
- LiveTree ADEPT: A decentralized platform that reimagines entertainment’s value chain: the process of content creation, funding and distribution. Distribution is via Blossom, a game-changing, decentralized digital rights management system that is set to revolutionize how content is interacted with, shared and consumed.
- LiveTree Seed: Supporting ADEPT is a digital token called Seed, designed to provide equality and remove gatekeepers restricting the market. Its value is created through demand, driven by its use throughout the platform and subsequent repurchase from the secondary market.
- LiveTree Incubators: The Incubators, operated through LiveTree’s partners by Oscar- and BAFTA-nominated filmmakers, are designed to advance the careers of both emerging talent and experienced filmmakers.
By providing content and real-world projects, they also serve to migrate the current industry to ADEPT. In addition to delivering real-world projects that can be used to stress test smart contracts during the development stage, the Incubators provide content that can be used to market and add value to ADEPT, because the content is subsequently sold in Seed.
LiveTree’s successful, fully operational, reward-based crowdfunding system proposed next-generation platform. Unlike many other companies entering the blockchain space, LiveTree has tried-and-tested experience of funding creative projects, along with a number of established industry partners. This section explains how its existing model works.
Under the current system, people back a project with pledges of money and, in return, the project’s creators ‘thank’ their backers with rewards based on the size of the investment. The reward could be, for example, a signed copy of a script, or dinner with Hollywood talent. Essentially, the rewards are a product, service or experience related to the project. There is no equity exchanged in return for the financial backing, so the only risk for the project creator is a loss of his or her time. This system is also effective in terms of assessing a project’s market potential and gauging demand.
One of the central challenges with crowdfunding, however, is how to make people aware of new projects. In a world of information overload, it can be hard for creative ventures to cut through the clutter. LiveTree’s solution was to devise a financial network advertising system that sheds light on how the sharing of information is monetized and works for the benefit of individuals, rather than the social networks and search engines that dominate the online advertising space. These power players act as gatekeepers, filtering information and data for their own financial gain, with repercussions across society.
As when a trusted friend recommends a film or TV show, LiveTree has found that the most effective way to market projects is the time-tested technique of personal recommendation. Based on this insight, a referral system was embedded into the crowdfunding platform. Called ‘Branching Out’, in line with the LiveTree imagery, it allows project creators to dedicate a percentage of any money they raise to bloggers, influencers and individuals if they undertake to refer a project to their networks of friends and contacts. In practice, this means that anybody who refers a contact to a project earns a commission percentage on any money subsequently pledged. The commission earned by the promoter — or ‘Brancher’, in the LiveTree vernacular — is defined by the project creator. The Brancher can refer-a-friend to a project simply by sharing it online through any social channel. Project creators can also dedicate a percentage of the funds they raise to a non-profit organization, which also incentivizes the latter to market their work.