Nollycoin is the official coin to access and purchase products in the Nollytainment ecosystem. Bitcoins and other select cryptos and fiat money will also eventually be accepted on the platform but nollycoin will rule.
WHAT IS THE NOLLYCOIN ICO?
The Nollycoin ICO is the Crowdfunding Campaign to raise funds for the Nollytainment Blockchain Powered Ecosystem. We are raising funds to execute the business plan and objectives through a global crowdfund with Nollycoin as the exchange for supporting the project.
The Nollycoin Pre-ico is March 1st – 31st while the Ico itself will take place from April 1st – 30th. Full details are available on our main site: http://www.ico.Nollycoin.com
HOW THE NOLLYCOIN POWERED ECOSYSTEM WILL WORK:
To give the public an overview of how the system will work when fully functions, Here is a brief step by step description presentation of how the Nollycoin powered NollyTV will work when finished.
•Producers and Content Owners register and load their content on the NOLLYTV blockchain powered portal.
• The Owner or Producer executes a smart Contract that stipulates the different rights and compensation percentages of fixed payments for different key collaborators on each sale of the content before the content is available for worldwide consumption
• Content (movies etc) is then publicly published on NOLLYTV for consumers to buy and consume with Nollycoin as the means of exchange.
• Users make payments through the portal wallet to all beneficiaries of the published smart contract for that content using NOLYCOIN (which can be purchased by fiat money or other currencies available on the platform exchange for those who do not have Nollycoin).
• The Decentralized Ledger automatically records and authenticates the transactions from each sale to all beneficiaries based on the smart contract
• All Transactions are then added into encrypted blocks and officially added to the blockchain in a permanent form and reviewable by all parties with no one being able to edit, delete or amend the permanent record .
• The micro payments are then automatically credited to the portal wallet of different entities entitled to compensation based on the published smart contract for that content.
• Beneficiaries can now withdraw their money from their Wallets at anytime in Nollycoin which they can keep for the value, or convert to fiat money or other cryptos on the Nollytainment exchange or other public exchanges where Nollycoin is traded.
• No 3rd party intervention in the whole process.
• Portal will be open to all content owners worldwide. Though the original focus of the portal is for African Movies , all great content across the globe will be welcome and supported equally