Blockchain Meets Movie Industry as White Rabbit Teams Up with Production Company K5
Blockchain start-up White Rabbit, developers of a browser plugin that allows users to legally stream movies and television series from any open streaming service, has announced a strategic partnership with K5 International, a subdivision of K5 Media Group, a renowned media production company that has produced Oscar-nominated films.
Financial details of the partnership, which was announced in Variety and The Hollywood Reporter, where not disclosed, however, the deal conditions suggest that K5 will grant White Rabbit users access to its library of 50-plus movies while the company’s co-founder Daniel Baur will join White Rabbit’s advisory board. Further details of the details, however, remain undisclosed.
White Rabbit is developing a browser plugin that will recognize any type of streaming content and offer the viewer a chance to directly pay to the copyright holders of said content via secure blockchain infrastructure using the platform’s native WRT tokens. All purchased content will remain available to the user in the Rabbit Hole – the content library – regardless of the viewer’s geographic location.
The tokens themselves will be available for sale during a whitelisting event later this year.
Commenting on the deal, co-founder and CEO of White Rabbit Alan R. Milligan stated:
This deal shows that the film industry is embracing innovative technological solutions, even peer-to-peer streaming, where our WRT token will have an essential real-life application in generating serious revenue.
Milligan is a renowned filmmaker whose filmography includes award-winning motion picture Letter to the King.
Baur also noted:
I have been actively searching the blockchain space for over a year, looking for companies that can have a massive impact on the film industry. With White Rabbit, I saw a product that properly integrates blockchain and embraces the existing entertainment industry and fans in a unique way.
K5’s portfolio includes films directed by such renowned filmmakers as Andrew Niccol and Tom McCarthy.
Aside from that, White Rabbit has also announced that three specialists from one of Europe’s biggest blockchain companies Blockchangers will join the team. Jonas Therkelson will step in as CTO, Jon Ramvi as lead blockchain developer, and Robin Pedersen as full stack developer.
We are incredibly excited to have K5, Daniel Baur and the Blockchangers team support our mission to ensure a legal, innovative P2P streaming market, offering fans the choice and access they deserve and the industry a transparent and instant monetization model for rights holders, film investors and talent.
White Rabbit was first announced in October 2017. The project is currently being developed with the MVP (minimum viable product) expected to be released in the second quarter of 2018.
Currently, the project holds a $1 million budget partnership program which offers up to $100,000 to any video service that joins White Rabbit.
What do you think of White Rabbit’s new partnership with K5? Let us know in the comments below.
Images courtesy of White Rabbit