Cryptoflix ICO Review: Get Paid to Watch Netflix
Cryptoflix is a media company that aims to use blockchain technology in order to disrupt the multi-billion dollar film, TV, and online learning markets. Through developing, patenting, and using new technologies, the team behind Cryptoflix wants to make it easy (and cheap) to stream movies legally.
Moreover, they want to offer free, online educational content so that anyone, regardless of origin, location, or current socio-economic status, is able to watch educational content and have the chance to learn and better themselves.
Cryptoflix will start by launching Cryptoflix, its main, closed network film and TV streaming service.
The Cryptoflix team wants to focus on developing nations and thus will start by launching Cryptoflix in developing nations where individuals are both poor and often don’t have access to credit cards (which are often used for content streaming services).
After launching the Cryptoflix streaming service, the company plans to launch a film market, where holders of FLIX can invest in film projects and film producers can receive funding for their projects.
How Cryptoflix Works
Like many blockchain-based projects, Cryptoflix’s goals are incredibly lofty.
So how does it all work?
As stated, the Cryptoflix team will start by launching its Cryptoflix streaming platform. All other parts of the Cryptoflix ecosystem, such as the film market, will be connected to this streaming platform.
Users on the Cryptoflix streaming platform will have access to content both paid and free. The paid content will include traditional paid media content like film and TV while the free content will include educational content for private individuals (non-private individuals, such as libraries, schools, and other organizations, can access educational content with a prepaid monthly subscription).
On the platform, users will have a digital wallet that they can top up to keep watching paid content.
If users opt to stream paid content using FLIX, they will be eligible for a discounted price compared to when they use other cryptocurrencies.
Going along with Cryptoflix’s ethos of serving underdeveloped markets, Cryptoflix will offer a large amount of local content from developing markets in order to promote local media industries.
The Cryptoflix company’s plan is to introduce their streaming platform by the end of 2018.
Cryptoflix Film Marketplace
Next up after the launch of the Cryptoflix streaming platform is the Cryptoflix Film Marketplace.
Through the Cryptoflix Film Marketplace, the Cryptoflix team aims to reward both content creators and consumers. Creators will receive funding for their projects when FLIX token holders choose to invest in their projects for a potential return on their investment.
Cryptoflix analysts will provide project risk scores and comments for potential investors. Risk scores will consider the following factors:
- What part of the film value chain financing applies to
- The potential market, genre, and projected income for the project
- How long it will take to produce the project
- The project’s team
- Any notable factors like A-List actors, interesting subject matter, etc.
Returns and conditions will be offered to investors in a term sheet as well.
The Cryptoflix Film Marketplace is expected to launch in Q1 2019.
Cryptoflix Production Company
Along with a streaming service and film marketplace, Cryptoflix will consider producing its own content, similar to Amazon, Netflix, and other companies, if Cryptoflix ends up being successful.
Cryptoflix eBook Distribution Platform
In order to further strengthen the Cryptoflix business, Cryptoflix will also consider introducing an eBook distribution platform, where they will offer both free and paid eBooks as developing countries, Cryptoflix’s area of focus, do not have well-developed eBook distribution services.
Cryptoflix Charitable Trust
Cryptoflix will set up an official, regulatory as well as tax-compliant charitable trust to support its educational efforts.
Content creators will be able to donate educational content and the Cryptoflix Charitable Trust will receive an annual fixed share of profits from donated content. Content creators will be able to deduct from their taxes, and Cryptoflix will be able to further disseminate free educational content.
Cryptoflix aims to set up the trust before the end of 2018.
One thing that can separate wishful thinking from real potential in the world of cryptocurrency is the strength of the team. Fortunately for Cryptoflix, it has a strong team with a track record of producing results.
The Cryptoflix Co-Founder and CEO is Christian Falkenberg Husum, a film industry veteran known for co-producing Ida, a Polish film that won the 2015 Academy Award for Best Foreign Language Film, becoming the first Polish film to do so. Not only that but in 2016, the film was named the 55th best film of the 21st century, according to a poll of 177 film critics spread around the world. If those aren’t strong credentials, we don’t know what are.
Cryptoflix’s advisory board is also strong as it includes Peter Rommel, who worked on Oscar-nominated film Children of Nature, and Edward Arentz, who founded NYC-based Greenwich Entertainment and generated over $70 million in box office revenue as well as received 8 Oscar nominations.
Cryptoflix is seeking funding between 3,000 ETH (soft cap) and 25,000 ETH (hard cap). At today’s ETH price (February 13, 2018) of $853.57, that gives Cryptoflix a hard cap of $21.3 million, giving it a lot of room for growth.
The ETH:FLIX exchange rate is currently set at 0.0004 ETH per FLIX. At today’s prices, that puts the ICO price of 1 FLIX at $0.34, which also gives Cryptoflix room for growth, as cryptocurrency investors can be prone to investing in cryptocurrencies or tokens with low prices that they see as having potential to grow.
Furthermore, only 18% of tokens will go to the team and advisors. Their tokens will also be vested for 12 months with a 3-month cliff, preventing any immediate dumping of FLIX by the team.
Is Cryptoflix Worth Investing in?
The big question everyone wants an answer to – should you invest in Cryptoflix?
While it’s hard to see Cryptoflix gaining significant traction in developed countries where services, such as Netflix and Amazon Prime control large shares of the market, it is possible that Cryptoflix could take off in developing countries if they are able to provide streaming services to those who don’t have credit cards and/or find services like Netflix expensive.
In addition, Cryptoflix has no working product, which causes room for concern as the scope of their project is quite ambitious. While do they have a proof of concept – platform.cryptoflix.io – the proof of concept is just that – a concept. There is no functionality in terms of being able to stream content. Thus, it’s yet to be proven as to whether or not they can actually deliver a blockchain-based streaming platform.
On the other hand, the Cryptoflix team is very strong and it is possible that they very well might turn the media industry upside down.
At a minimum contribution of 0.1 ETH (about $85 as of February 13, 2018), just about anyone can get in on the Cryptoflix token sale. While we don’t see Cryptoflix being an all-star performer in terms of return on investment, we don’t see why one shouldn’t allocate a small portion of their crypto portfolio to Cryptoflix if they can.
If you’re interested, Cryptoflix’s ICO is tentatively set for April 15, 2018. You can get pre-sale alerts on their site.
Thanks for reading!