SINGAPORE - Media OutReach - 4 May 2018 - VUULR , a Blockchain-based global digital supply chain and marketplace for the TV and Film content industry, has announced that it will be launching its Initial Coin Offering (ICO) with QUOINE Corporation ("QUOINE"), a global financial technology company that provides trading, exchange, and next generation financial services powered by Blockchain technology.
QUOINE was the first global crypto fintech company to receive an official license from the Japan Financial Services Agency, and today unveiled its ICO platform, an all-in-one ICO hosting service that provides a safe haven for both token participants and token issuers alike. The platform, ICO Mission Control, is integrated with QUOINE's crypto-to-crypto exchange, Qryptos.
The first ICO to be hosted on the platform will be VUULR, offering VUU tokens for their ICO launch on May 9. There will be a total supply of 1 billion tokens, of which 35% will be allocated to the initial token offering. The funds received from the ICO will be used to build and deploy a global digital marketplace for broadcasters, distributors and content sellers to buy and sell films and TV shows online, powered by Blockchain technology.
The launch of VUULR's token sale on Qryptos sees the Japanese cryptocurrency exchange providing an end-to-end solution designed to help blockchain businesses conduct an ICO in a flexible, secure, transparent and scalable manner, adhering to best practices for 'Know Your Customer' (KYC) and Anti-Money Laundering processes.
"Launching an ICO in the current climate requires a lot of caution on the part of token issuers," said QUOINE Co-founder and CEO Mike Kayamori. "In the last 12 months, there have a number of serious problems with ICOs, including leaks of email addresses and customer data, website hacks, phishing attempts, fake deposit addresses, and much more," he added.
"This has left token participants shaken and wary about participating in ICOs, while token issuers now have to go to great lengths in order to ensure their communities do not fall victim to scams. QUOINE's ICO Mission Control removes these pain points so token issuers can focus on more productive aspects of their work, such as product development or marketing. With the launch of ICO Mission Control, we aim to bring global standards of security and technology to provide a safe, secure ICO launch for all token issuers and participants in the new crypto economy."
US$240 billion per year is spent in the Film and TV industry on content acquisition by Broadcasters and Over-The-Top suppliers like Netflix and Amazon, but up to 40% of that value can be lost to the cost and friction of the transaction.
VUULR will bring huge efficiencies to the industry by changing the way content rights are traded, delivered and sponsored. The company is focused on building a complete infrastructure powered by Blockchain that will allow buyers, sellers and brands to go from discovery to delivery in under 24 hours.
VUULR has also recently announced their partnership with the Entertainment Merchants Association (EMA), an international trade body for the entertainment content industry, to launch EMA Asia. This partnership enables VUULR to bring standards specifications and best practices to Asia, accelerating the trade of content with less cost and less friction, thereby unlocking more value for content creators.
"VUULR is building a digital marketplace and working with Hollywood-based trade associations - EIDR , MovieLabs and EMA to adapt industry-agreed specifications onto a Blockchain-based supply chain to streamline content distribution and acquisition for the Film and TV industry. This ecosystem will enable the industry to trade more efficiently at a fraction of the time and cost it takes today," says Ian McKee, CEO of VUULR. "We are excited to be the first Token Issuer to launch an ICO on QUOINE's ICO Mission Control! With over 500,000 registered users on the platform who have already cleared KYC, VUULR gets access to a huge base of crypto enthusiasts who are ready to buy VUU tokens. New ICO participants can take advantage of QUOINE'S faster, more streamlined KYC which is able to verify users in minutes."
"Our ICO launch will also allow the public to contribute to the global community of Film and TV show fans, allowing everyone to be rewarded with VUU tokens when they create, refine, and translate metadata that is essential to the industry."
The VUU tokens sold through ICO Mission Control will be tradable on QUOINE's cryptocurrency exchange, Qryptos, shortly after the ICO closes. This reassures token buyers that there will be liquidity post-ICO.
VUULR's ICO will start May 9 and continue until May 30, 2018.
For more information, please visit https://www.vuulr.com/ .
ABOUT VUULR Vuulr is a global digital supply chain and marketplace for the TV and film content industry powered by blockchain technology. The platform aims to reduce friction and increase large-scale efficiencies for the industry, resulting in a new approach to the Distribution & Acquisition and Brand Sponsorship of content by allowing buyers, sellers and brands to go from discovery to delivery in under 24 hours. The Vuulr Rewards Program will also power a global community of Film & TV fans who will be rewarded to create the largest metadata refinery essential to the industry.
ABOUT QUOINE QUOINE is a leading global fintech company that provides trading, exchange, and next generation financial services powered by blockchain technology. With offices in Japan, Singapore and Vietnam, QUOINE combines a strong network of local partners with extensive team experience in banking and financial products to deliver best in class financial services for its customers. More information is available at www.quoine.com