What are White Rabbit Tokens
Also referred to as an ERC20 token, the WRT is the payment currency used by White Rabbit (WR) for transactions between a user and a content rights holder (CRH). Users purchase WRT via exchanges or during token sales.
Users streaming content from P2P sites or open server sites can reward CRH directly for the series or film they are watching. They do so by sending WRT to the smart contract to accumulate rewards for CRH. In a case where WR doesn’t have a pre-existing agreement with a CRH, should they choose to accept WRT, a legal consumption of content then becomes initiated.
Under the smart contract, the rewards for content streaming are distributed between CRH (75%), White Rabbit (15%), and White Rabbit PSS (10%). For registered non-PSS, they receive 5% of the revenue instead, with the remaining 5% going to WR. A CRH who is not in a contract with White Rabbit receive bonus WRT should they choose to accept tokens for their content for a limited period. In both case, once a rights holder signs the paperwork, no further action is required for them to obtain payments for future streams.
A rights holder can exchange WRT into cryptocurrency, making conversion into FIAT possible.
For years, the film and series industry has prevented interactions between fans and films and filmmakers. This wall has been the case throughout the evolution of technology that brought is the DVDs. In the digital age, the status quo has been the same. Users are forced to acquire multiple subscriptions which do not, in turn, give them the freedom to choose the content they want or how to access it their convenience.
White Rabbit’s core idea is to bring an increased choice of content and the convenience of accessing it. Fans can now watch more films and series from around the globe. They also have the opportunity to interact with filmmakers like never before. The merchandise they’d otherwise not be able to access is made available to them. WRT is the hope of finally enforcing intellectual property rights (IPR) in the digital age.
The WRT ecosystem
The exchanges that exist are between White Rabbit, users (token holders), streamers, third-party developers and content rights holders. WRT accepted by the CRH allows fans access to the high-quality version of the film. The film is accessible in the Rabbit Hole, the WR library. In addition to that, fans get extra perks. They include behind-the-scenes, deleted scenes, and fan and filmmaker interaction. All this additional content is accessed by using tokens.
A film-fan interaction example is 20,000 fans from 50 different countries holding a VR cinema screening for a cult film in the Rabbit Hole. In addition to that, picture half a million more fans from all over the world streaming the same movie. After the screening, fans and filmmakers interact, and from the hype generated, new fans join the bandwagon.
This business model was not viable before Rabbit Hole. A niche film that was once difficult to monetize due to geographical barriers almost immediately becomes a hit. It doesn’t matter if the filmmaker is independent, new or well-established- all have an equal chance to monetize their content in the digital space.
If your favorite CRH is not on White Rabbit, you can gently nudge them to join by sending them tokens. When a rights holder notes the increase in people wanting to pay for their content, they will be inclined to join to meet the ‘demands’ of their fans.
Links of interest: