Fintage House has signed an agreement with TATATU, a blockchain-focused entertainment platform that will see the rights management firm accept payment for content rights in cryptocurrency.
“Soon we expect to start drafting the first agreements where we shall be accounting and paying out in TTU Tokens, whereby through the appropriate platforms the tokens could be exchanged in fiat currency.” Niels Teves, co-CEO of Fintage House
TTU token the official crypto for Fintage House
Terms of the partnership deal as mentioned by Teves stipulate that TTU, the native coin for TATATU will be the official cryptocurrency for rights transaction within the Fintage House platform. Fintage House is among several other traditional entertainment platforms embracing cryptocurrency.
The company that has been in operations for over three decades specializes in collection, management and licensing of digital content-films, TV programs and music. The company further offers revenue collection and then distributes the revenue to respective creators.
The TATATU platform on its part developed the TTU token for users to pay for video content, after which the platform will distribute the collected revenue to entitled content creators.
Captain Jack Sparrow on-board
TATATU is making giant strides towards introducing cryptocurrency in the entertainment industry. The company recently signed a partnership deal with veteran Hollywood actor famed for the Pirates of the Caribbean movies, Johnny Depp, who owns the film production company Infinitum Nihil.
Through the partnership, Depp will work in conjunction with the notable film producer and founder of TATATU Andrea Lervolino to produce fresh films for the TATATU platform.
TATATU recently completed an Initial coin Offerings (ICOs) in which the platform raised over $575 million. It turned out to be one of the largest ICOs of 2018. The funds raised will go into acquisition and creation of new content as well as marketing of the platform to attract more users.
Italian Lady Monika Bacardi is the biggest investor in the platform with an investment of $100 million. Bacardi has always proclaimed her support for blockchain technology; it’s no surprise that she would bet that big on a startup.