Spokkz (SPKZ) ICO Review
Spokkz is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.
|Ico Time||Unknown – Unknown|
|Price||1 SPKZ = 0.08 USD|
|Soft Cap||5,000,000 USD|
|Hard Cap||12,000,000 USD|
More about Spokkz (SPKZ) ICO:
Spokkz will use Blockchain Technology to disrupt the $2 Trillion USD traditional Media Industry by creating a decentralized ecosystem and marketplace where film lovers will join advertisers, stars, content creators and merchants as stakeholders.
Fundamentally Spokkz will transform the media consumption business from being a purely transactional play to a community driven economy. Users will get rewarded Spokkz for reviewing, sharing or recommending content and will be able to use Spokkz to fund content projects of their choice.
Spokkz is being issued by Spuul, a pioneering and established OTT player with over 60million users in 180 countries generating revenues of close to USD15mm. Spuul has decided to migrate some of its solutions to the blockchain and to tokenise it’s business with Spokkz. Spuul is recognised to be an innovative, full stack, pure play tech company that has built it’s enterprise in collaboration with premium providers like AWS ( for whom they are a case study).
A live platform, an experienced tech and business team, deep connections into the media industry and an influential advisory board puts Spokkz way ahead of the competition. Spokkz is dedicated to Mr Spock of the Starship Enterprise and hopes to represent all that he stood for – clarity of thought, cold/hard logic and the courage “ to boldly go where no one has gone before.
Spuul was launched in 2012 and since then has been one of the most innovative Video On Demand (VOD) platforms in the world. Spuul has over 60 million users and over 4 million paid subscribers as at the end of March 2018, and was the first platform to allow users and subscribers to download and watch content offline.
In December 2017, Spuul acquired Vision Asia, a premier Pay Television service provider in Australia and New Zealand. Following the acquisition, Spuul, combined both VOD and Pay TV and has introduced to market an innovative Hybrid TV product that brings together the best of Pay TV and VOD content called “Spuul+”. This new innovative hybrid product currently has over 180 linear channels and over 1,000 movies, which provides users and subscribers the ability to watch and/or record their favourite content on any digital device they wish.
Launched in 2012, Spuul is a leading Singapore based over-the-top (OTT) provider with offices in Mumbai, Dubai, Sydney, and Auckland. Over 80 million users in 180 countries enjoying a huge library of Asian content.
60,000 transactions pass through Spuul users’ secure wallets every day, Spuul attained nearly US$ 12 million in revenue in 2019, projected to double every year over the next three years. The company has already been seeded USD 11mn by the founders.
The Spuul ecosystem today already has a secure wallet for fiat currencies, which allows users to top up and receive top ups from others. Our customers use it to make 1.8 million transactions every month in 15 currencies.
Large studios with self serving agendas and their middlemen are imposing their choice of content on viewers and charging them exorbitantly for it. It’s time to challenge the status quo. This is exacerbated by distribution platforms being transactional with no room for community engagement.
SPOKKZ is letting the viewer decide what content works – and at what price by giving him / her access to a decentralised ecosystem and marketplace. By crowdfunding and helping promote movies & TV shows, viewer communities will join producers, content creators, distributors, stars and advertisers as equal stakeholders.
Ontology’s public chain basic services, high-performance customizable blockchain framework, smart contract tool SmartX, and other technologies can be deeply integrated into the SPOKKZ platform. This will enhance mutual trust amongst movie creators, advertisers, and movie fans.
At the same time, scenarios such as human and object multi-factor identification and authentication, as well as distributed data collaboration and exchange, can create comprehensive personal profiles, and improve precise targeting and enable advertising information to reach people who really need it. As a result, data and transactions will be more transparent, we can increase users sharing revenues, and ensure fair and reasonable transparent transactions to movie producers.
Spuul the “Netflix of Bollywood “ was launched in 2012 and since then has been one of the most innovative Video On Demand (VOD) platforms in the world. Spuul has over 80 million users and over 1.4 million paid subscribers as at the end of November 2019, and was the first platform to allow users and subscribers to download and watch content offline. In December 2017, Spuul acquired Vision Asia, a premier Pay Television service provider in Australia and New Zealand. Following the acquisition, Spuul, combined both VOD and Pay TV and has introduced to market an innovative Hybrid TV product that brings together the best of Pay TV and VOD content called “Spuul+”. This new innovative hybrid product currently has over 180 linear channels and over 1,000 movies, which provides users and subscribers the ability to watch and/or record their favourite content on any digital device they wish.
2. Spuul Now
Today Spuul has 80 million registered users worldwide, 1.4 million paying subscribers and has over 2 million daily active users. Organically, Spuul adds about 2m new users a month. Most of Spuul’s users today are in South East Asia, The Middle East, Europe and the USA. Daily active users viewing time is 20 minutes per user. Now as part of its expansion outside of Indian content, Spuul is planning to deliver content in other major Asian languages. The languages offered, with the exception of English, will include Korean, Japanese, Mandarin,Spanish, Indonesian, Thai, Filipino and more will be added later. Spuul’s founding shareholders have invested US$11 million to build the business to date, and for the FY 2018/19 (ending March 2019) Spuul’s estimated gross revenue was close to $12 million.
3. Why List a Token?
To embrace is Token economy, Spuul intends to list it’s token called SPOKKZ (pronounced SPOCKS). SPOKKZ is intended to the enablement of a crowd funding platform for Spuul’s ever growing user base to select and fund streaming content projects. SPOKKZ’s funding platform can be used to partially or fully fund upcoming movies, TV shows and/or enable Spuul to license key content such as sports for its community. Today Spuul funds the content and then ‘sells’ subscriptions to its users so that they can watch content.
•The SPOKKZ blockchain, Spuul’s community can directly select and fund specific Movie projects through a new wallet feature that will be enabled for all users (the method and mechanism of the funding will be discussed in Section 6 of this White Paper).
•The benefit of this method of funding is that Spuul may procure exclusive streaming content for the subscriber base without having to pay for this upfront from the company’s operating cash flows. This is an extremely capital efficient model, and it allows Spuul to grow and scale its business very quickly.
•As an illustration, when the community funds a specific project, Spuul also participates by giving SPOKKZ tokens to the content producer in exchange for a percentage of the Movie or TV Show. This stake in the Movie or TV Show allows Spuul to receive revenues in the form of royalties over the life time of the Movie or TV Show. Over time, this enables Spuul to build a catalogue of Content and Intellectual Property which could increase its asset base substantially.
•In another strategic initiative, Spuul also intends to use the SPOKKZ tokens to incentivise its user community to contribute reviews, comments, subtitling, etc., with the objective of creating a social platform for people interested in movies, fashion, songs and movie stars. As Spuul brings in more Projects to the ecosystem, Spuul will become the centre for creative people to launch content and communicate with their customers and fan bases.
•One significant technical project that Spuul intends to introduce to the platform will be using Artificial Intelligence (“AI”) and Machine Learning (“ML”) to help with image recognition within the Movie or TV content.
•Using available APIs, Spuul can showcase similar products or services available for purchase on other E-Commerce sites. SPOKKZ token holders will be able to use their tokens to buy and sell products on such E-commerce platforms. To showcase this, Spuul has secured a significant tie up with ‘I Am Claire’ (IAC) – iamclaire.com. IAC will be one of the first projects to be using the SPOKKZ tokens to enable its community to buy and sell products. By using tokens instead of cash, IAC can not only create incentives programs to reward its community but also eliminate the friction that current payment systems have in developing markets.
4. Mechanics of the Coin Offering
Tokens have become a truly effective way for businesses to raise funds for innovative and blockchain projects. In the last 36 months Token funding has rivaled Venture Capital and Private Equity funding for internet companies. How does this work? The company offers a structure product known as a ‘Token’ to its backers. Very similar to Kickstarter, the backers receive a Token in exchange for their money (either in crypto currency or in fiat currency). Tokens are denominated in US$ and can be freely traded against other tokens in exchanges that list and trade them. Unlike traditional equity stock issuance, the Token issued does not represent a percentage value of the Company but instead, refers to the value in a ‘Project’ or ‘Application’ that the Company issuing the token, is working on. In the case of Spuul, the funding and creation of movies or TV series is what SPOKKZ backers are pre-funding. The backers receive a smart contract in exchange for the promise of the company creating and launching the project that they are backing. At the moment, most token listings which have been released have raised between $20 to $120 million. Telegram for example, has raised more than $1 billion in its ICO. There is a vibrant community that has sprung up around the token and Singapore, Hong Kong and Switzerland are the 3 epicentres of this new ecosystem. Singapore has seen over 200 ICOs launched in the last 12 months generating over $100 billion in value. SPOKKZ, through its innovative use of the blockchain technology is excited to be part of this vibrant ecosystem. To help accomplish a smooth and successful token listing, Spuul has engaged Deloitte & Touche LLP for Risk and Tax Advisory Services and Pinsent Masons MPillay LLP as its Legal Advisors.
5. How do you get rewarded with SPOKKZ?
When people fund the SPOKKZ, they get SPOKKZ tokens that enables them to do the following:
•Help select and fund a movie and receive bonus tokens from the SPOKKZ foundation if the movie does well on Spuul and/or other content platforms.
•Use SPOKKZ to subscribe to content on Spuul, and
•Exchange SPOKKZ tokens on the exchange for other cryptocurrencies or fiat (where possible)
•Whenever a user watches content and the subscription expires, the token will be burnt thereby reducing the number of available token in the pool. This also assures that existing token values will increase over time.
6. SPOKKZ Technology Road Map
SPOKKZ tokens will be on the High Performance Blockchain Ontology. The total number of SPOKKZ tokens issued will be 1,000,000,000 (1 billion). 53% of SPOKKZ tokens will be released to the market over time. The remaining SPOKKZ tokens will be retained by the SPOKKZ Foundation to be released in the future to fund operations, future projects and other supporting activities. The Diagram below shows the release of the features in the app over the next 4 quarters.
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