Nollytainment Introduces Blockchain Technology To Nollywood with Nollycoin

Nollytainment introduces a blockchain-powered movie distribution platform to Nollywood with the Launching of a new cryptocurrency called NOLLYCOIN. The new NollyCoin provides a cutting edge solution to major problems to African Movies Ecosystem. Get further information on this landmark development at http://www.Nollycoin.com.

omaha, Nigeria – February 1, 2018 /PressCable/ —

In a ground-breaking approach to the financing, distributing and marketing of Nollywood and African Movies, NOLLYTAINMENT, a new blockchain inspired Movie Distribution company has decided to Launch a new blockchain-powered platform and cryptocurrency, called NOLLYCOIN, into the African Movie ecosystem, and this is expected to be launched to the public on 1st of April.

As a direct effort to address glaring problems in Nollywood and the African Movie Industry including lack a universal currency for distribution; lack of adequate financing to produce quality movies and lack of proper compensation structure for movie production collaborators, NOLLYTAINMENT LTD has decided to be a little more daring by Launching an innovative coin for African movies called NOLLYCOIN.

This significant milestone includes the creation of a fund to produce exclusive blockbuster Nollywood films which will be available on the NOLLYTAINMENT platform, while also providing NOLLYCOIN holders amazing utility for holders of the NollyCoin tokens. Not only will holders of the NollyCoin be able to trade the coin on various Crypto exchanges globally, they will also be able to use the NollyCoin token as movie tickets to watch blockbuster movies on the Nollytainment platform; partner movie theaters; and partner movie streaming sites. Additionally, NollyCoin holders will also be able to receive dividends from movies sold on the Nollytainment platform. Essentially, Nollytainment will be pioneering a new movie production, distribution and marketing ecosystem powered by NollyCoin.

Dr Ope Banwo, Founder/CEO at NOLLYTAINMENT INCORPORATED, says: “We are so excited to be bringing the power of blockchain technology to African movie distribution, powered by a new Ethereum based cryptocurrency coin called NOLLYCOIN. This significant milestone will also be marked by the creation of a fund for the production of exclusive blockbuster international standard Nollywood films for the NOLLYTAINMENT platform, while providing NOLLYCOIN users additional utility for their tokens. Not only will holders of the NollyCoin token be able to use the NollyCoin token as movie tickets to watch blockbuster movies on the Nollytainment platform, partner movie theaters and partner movie streaming sites, they will also be able to receive dividends from movies sold on the Nollytainment platform.”

“The launch of NOLLYCOIN is a great milestone for NOLLYTAINMENT LLC,” said Dr. Ope Banwo, President of Nollytainment LLC. “We are very pleased that we are pioneering the elevation of the African movie industry to capitalize on the benefits of the blockchain technology for financing, production, marketing, distribution and delivery of African films. The launch of NOLLYCOIN is the result of our commitment to the African movie industry and it will motivate us to continually seek ways and means of enhancing profitability in the African movie ecosystem for all stakeholders.”.

According to the initiator of the NollyCoin project, “With the NollyCoin powered Nollytainment Platform, Consumers will be able to access a global catalog of movies stored on a peer-to-peer network, and pay owners directly using digital currency. Producers and creative artistes will also be able to get financing for high budget movies that can be distributed internationally.”

This is a great opportunity for African Movie practitioners and lovers to experience a highly transparent platform that connects creative artistes in the conception and production of movies (i.e. Movie Producers, Directors, Cameramen and Other Creative Works artistes) with Consumers of African Movies directly, through NollyCoin. It will also lay the groundwork for a new age in the Financing, Production; and Distribution of African Movies in a way that is sustainable, borderless, and fair to all stakeholders.

Dr Ope Banwo also said: “Nollytainment, through the introduction of NollyCoin is the 1st company to introduce blockchain technology to Nollywood and African movies.

The NollyCoin blockchain based project offers tremendous benefits to the Nollywood and African Movie ecosystem in many ways:

– NOLLYCOIN is a type of electronic cash that can be discreetly exchanged for Entertainment products and services on Nollytainment and partner Platforms, and it can also be subsequently converted into fiat currency.

– It’s a 3rd Party-Independent means of exchange. Payment from movie watcher to movie owner can take place without any intermediary

– Removes national boundaries and local currency issues for free flow of creative works. One currency of exchange for Nollywood movies that works globally.

– User Anonymity is Guaranteed

– Users get Up-to-date encrypted day to day transaction

– It provides ease of payment for micro purchases and payments for creative works globally.

– Price fluctuation will be purely by the principle of demand and supply

– Users will enjoy transactions without restriction to fee, time and space

– Eventually, users can Use NollyCoin on online and offline entertainment shopping malls internationally.”

When asked about the prospect for success of the new Cryptocurrency and the blockchain powered movie distribution platform service, Dr Ope Banwo said: “We think it’s going to be a hit because NollyCoin will be a game changer for the movie industry in Africa as it will help producers and consumers take the game of movies distribution and consumption to a whole new level”.

Further information about NOLLYTAINMENT INCORPORATED and the new Cryptocurrency powered movie distribution platform service can be discovered at http://www.Nollycoin.com.

Contact Info:
Name: OPEOLU BANWO
Email: ceo@nollycoin.com
Organization: NOLLYTAINMENT INCORPORATED
Address: 236 Igbosere Road, omaha, Nebraska 2341, Nigeria
Phone: +234-706-648-2753

For more information, please visit http://www.Nollycoin.com

Source: PressCable

Release ID: 295021