Decentralized video platform launches ICO

Ad-free video content starts with a token sale
07 February 2018   595

Slovenia-based decentralized video platform VIewly on February 2 announced it’s launching an ICO. The sale is set between February 20 and March 22. The idea is to replace ad-based revenue model with a peer-to-peer network and smart contract transactions on the blockchain.

Ad-based video platforms are fundamentally flawed for both creators and their audiences. Only creators with large audiences can make a living off their efforts, and even then, they must give up nearly half their ad revenue.

 

Stefan Furland 

VIEWLY Director

 

The content monetization happens as fans (sponsors) pay the creators via micro-payments, sponsorships, memberships, premium content, etc. With the implementation of a blockchain platform, sponsors and creators will be able to agree to smart contracts and then transact instant trustless payments.

We are opening up opportunities for creators who have small, loyal audiences that don’t work within the current ad-based model. Viewly allows them to build a profitable channel without having to build an entire business.

 

Stefan Furland

VIEWLY Director

 

The sale will offer 30% of /VIEW tokens with a hard cap of $12 mln. The users with access to extra storage and bandwidth will be able to run Viewly nodes that host and stream videos and thus earn /VIEW tokens. Viewly’s presale promises bonuses for big strategic contributors, and for users, who whitelist Viewly before February 20.

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Centra Tech Inc. Co-Founder accused With Fraud by SEC

The US Securities and Exchange Commission (SEC) has charged Centra Tech Inc. co-founder, Raymond Trapani with ICO fraud  
25 April 2018   85

The charge came as the result of the SEC’s investigations into Centra’s controversial $32 million USD initial coin offering (ICO). Mr. Trapani is the third and final Centra co-founder to be accused for taking part in the ICO.

Raymond Trapani, a co-founder of Centra Tech Inc., has been charged by the SEC for his participation in “a fraudulent scheme connected with Centra’s 2017 ICO.” In 2017 Centra made headlines after enlisting celebrity approval from Floyd Mayweather and DJ Khaled. Two other firm`s co-founders, Sohrab “Sam” Sharma and Robert Farkas, were charged by officials earlier this month for their engagement  in the distribution of “CTR Tokens” to investors.

A changed variant of the SEC’s complaint demands that Trapani was the “mastermind of Centra’s fraudulent ICO,” with an SEC press release alleging that “Centra [was] marketed with claims about nonexistent business relationships with major credit card companies, fictional executive bios, and misrepresentations about the viability of the company’s core financial services products.” The SEC accuses Mr. Trapani and Mr. Sharma of “manipulat[ing] trading in the CTR Tokens to generate interest in the company and prop up the price of the tokens.”

We allege that the Centra co-founders went to great lengths to create the false impression that they had developed a viable, cutting-edge technology. 
Robert Cohen, Chief, SEC Enforcement Division’s Cyber Unit

 

The SEC has disclosed a text mail sent to Mr. Farkas and Mr. Trapani from Mr Sharma in what Mr. Sharma said to his colleagues “[w]e gotta get that s[***] removed everywhere and blame freelancers lol.” Mr. Trapani also demanded that Mr. Sharma “cook [him] up” a fraudulent document whilst the company was seeking to get CTR tokens listed on exchanges under misleading pretexts. Mr. Sharma replied to the request with “Don’t text me that s[***] lol. Delete.”

At the same time, the U.S. Attorney’s Office for the Southern District of New York has also looked for criminal accusations against Trapani. The SEC has revealed that text messages  jointly used between Centra’s co-founders discovered the scam purposes of the defendants.