It is always good to see students and content creators flock to bitcoin for their projects. Clay Space, a student at the University of New Mexico, raised 750 bitcoin in the span of 48 hours to fund his long-term project. The goal is to create a cross-platform storytelling project focusing on film, graphic novels, an alternative reality game, and a strong focus on mobile. An interesting development, that much is certain.
A Bright Future Awaits Back to Earth Productions
It is good to see this project successfully hit its crowdfunding goal of US$1m with relative ease. Cryptocurrency investors have become keen on ICO projects, as they want to support new projects and make money from buying the associated tokens at a cheap price. In this particular instance, Starcredits will be used, which are issued on the Ethereum blockchain.
Projects like these set out quite interesting goals, although it remains to be seen if they will be successful in the long run. Revamping the way films are made by using cryptocurrency-base platforms is not something that will attract a ton of attention right away. Then again, there are some projects in developments for this new platform already, which is positive to see. A unique project like this may bring something new to the entertainment industry as a whole in the long run, which can never be a bad thing.
One thing the project does right is focusing on the innovative areas that will transform video content as a whole in the coming years. Back to Earth Productions will work on transmedia storytelling. To be more specific, this type of media revolves around storytelling through web series, mobile experiences, graphic novels, and even an augmented reality game. It will create an entirely new level of immersive content experience. Although a budget of US$1m may seem rather small, it should be enough to get the platform off the ground in the coming months.
The Starcredit tokens will be used to increase engagement of Back to Earth Productions in the augmented reality game department. Additionally, the tokens will also be sued within the platform’s mobile application. Audiences can influence the future of a specific story by spending these tokens as well. All things considered, it’s an interesting spin on things, yet only time will tell if the investors made the right decision.
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