Blockchain’s TaTaTu Entertainment Platform Raises $575M USD In Private Salebr>
TaTaTu, a blockchain tokenized entertainment platform, has raised $575 million USD from private backers, an amount that would make it one of the largest private fundraises of the blockchain era, rivaling Tezos, Telegram and EOS.
The TTU tokens will serve as the central currency within a new blockchain-based social entertainment platform called “TaTaTu,” operated by TaTaTu Enterprises. The token will compensate content creators and viewers, and will pay for advertising on the platform.
Proceeds from the private sale of the TTU tokens will also help TaTaTu co-finance original programming, acquire new content, and grow its user base.
Among the supporters of the TTU tokens are Prince Felix of Luxembourg; cryptocurrency investment firms BlockTower Capital and Ricardo Rivera’s Polymath Capital; and Lady Monika Bacardi, who was the first to purchase TTU tokens; and Patrick Slim Domit, son of Carlos Slim, who backed the TaTaTu movie ‘The Sound of Freedom’ starring Jim Caviezel and Mira Sorvino—one of several movies the platform is now producing.
“The industry’s response for TaTaTu has been overwhelming as the TaTaTu Token has secured one of the largest private sales of digital token,” said Andrea Iervolino, CEO, TaTaTu Enterprises. “The response is further validation that our model of acquiring and producing our own content mixed with rewarding users with TTU tokens to watch that content on the platform will benefit everyone—including content holders, users, brands and advertisers.”
Alpha testing of TaTaTu began May 31. Since then, 200,000 subscribers have joined the waiting list—the list’s maximum capacity. They will be able to use the platform and app after the beta launch in July.
“I’ve worked and invested with Andrea for many years—dating back to his first movies over decade ago, and it has been rewarding every step of the way,” said Monika Bacardi “Andrea is a forward thinker who has always met, and in many instances exceeded, his own high business standards. TaTaTu is sophisticated and intuitively brilliant platform that reinforces my bullish stance on the promise of blockchain technology and cryptocurrency.”
“I’m excited for projects that will spread cryptocurrency beyond the current <0.5% of the world that holds it,” said Ari Paul, managing partner, BlockTower Capital. “TaTaTu is a crypto-driven content platform that’s likely to get major mainstream traction.”
TaTaTu combines the features from major VOD platforms and social networks with a system that rewards users for watching videos. The blockchain-based entertainment platform incentivizes content consumption by offering users digital tokens for views generated by themselves and their friends. The token will reward users and allow advertisers to pay for advertising on the platform.
Users can invite their friends via social media to join TaTaTu, watch and create content that can be shared with friends, chat with other members, and share content they like. TaTaTu will give its users the possibility to be rewarded for their daily entertainment activity.
TaTaTu will initially offer movies and videos, but plans to also enlist music, sports, and gaming content, becoming a 360-degree entertainment platform that will allow both consumers and content creators to monetize their content, and content viewing, transparently.