Some Nollywood veterans have endorsed a new project tagged “Nollytainment” to tackle some intractable problems facing Nollywood and other African movie industries by using block chain technology to power a new movie entertainment ecosystem.
Briefing the press recently, Nigerian entertainment stakeholder and founder of Nollytainment, Dr Ope Banwo said the use of ecosystem would centre on Nolly TV which enabled peer-to-peer movie sharing portal for the publication, distribution and consumption of movie using Nollycoin as the means of exchange.
“Nollycoin will be the official coin to access and purchase products in Nollytainment ecosystem”, Dr Banwo said. Banwo who is also the CEO of Dove Media Plc, stingomania entertainment and Nollywood block busters, stressed that some of the benefits of Nollycoin was to tackle lack of access to sustained capital by producers to produce qualitative movies, issues of proper copy right documents, protection and piracy, structural problems for fair compensation for collaborations.
Banwo further stressed that “the value proposition of the Nollycoin offers a lot of win-win opportunities to stakeholders in the entertainment industry except the pirates and copy right thrives.
“Some of the solutions Nollycoin/Nollytainment project is bringing into Nollywood is that we are providing access to financing and capital to 3rd world movie producers to produce qualitative movies for the international market and also provide top financial backing for some of our best producers in Nollywood to produce films for enjoyment of our ecosystem and global group of African movie Lovers”, he stated.
“All stakeholders will enter their copy right content into Nollycoin block chain and harvest the profits worldwide ad infinitum. Two collaborations and creative artistes in the movie production chain win” he further stressed.
Other benefits highlighted include, Nollycoin ICO initiative which he said was a crowd funding campaign to raise funds for Nollytainment block chain.
We are raising fund to execute the big plan and objectives through a global crowd fund with Nollycoin as the exchange for supporting the project.
The Nollywood pre ICO is from March 1st -31st while the ICO itself will take place from April 1st to 30th, 2018. A minimum of 0.50 entherium was approximately $425 with 16,000 Nolly for every 0.50 entherium and 30% bonus on all purchases.
Meanwhile some Nollywood Veterans are said to have endorsed the Nollytainment/Nollycoin project. They include: Emem Isong, Charles Novia, Tade Ogidan Simi Ope Oluwa, Fred Amata, Daniel Ademinokan, Zeb Ejiro and Fathia Balogun among others who were present at the press briefing, while Zack Orji and Richard Mofe Damijo (RMD) have also consented to the project.