Blockchain entertainment studio SingularDTV has announced the launch of a decentralized autonomous organization (DAO) designed to govern the world’s first Media Distribution Protocol powered by Ethereum blockchain technology.
Founded in 2016, SingularDTV is a decentralized global distribution platform that empowers artists with a fairer, transparent monetization model through blockchain technology.
The company’s DAO, called SNGLS DAO, will be the non-profit governance layer of the SNGLS Protocol, which provides a decentralized blockchain P2P torrent architecture for content creators designed to minimize data and revenue obfuscation as well as censorship issues content creators experience with such legacy platforms as YouTube, Spotify, Netflix, etc.
“The SNGLS DAO will provide the protocol with a democratic governance system that is censorship resistant,” the company said. “The protocol and the DAO will both be powered by SingularDTV’s programmable token, SNGLS.The SNGLS token launched as a result of SingularDTV’s TGE – “token generation event”, also known as an ICO – in 2016 and is being upgraded to exclusively run the protocol.”
According to SingularDTV, its mission is to give content creators control over their property and the money it generates during the distribution process through its suite of applications and software.
“It’s seems complicated at first, but it’s quite simple,” said SingularDTV co-founder and co-architect of the SNGLS DAO, Zach LeBeau. “Imagine the protocol as a garden and the content and DApps are its flowers. The gardeners are the DAO. The SNGLS tokens are the water that makes everything grow.”
Blockchain-powered streaming platform Breaker, SingularDTV’s first decentralized application (Dapp) will be the first application to test the interoperability of the SNGLS Media Distribution Protocol and the SNGLS DAO.
“Society is held together through a common culture. The culture is created and expressed through different mediums.” said Troy Murray, co-architect of the SNGLS DAO and Strategy at Breaker. “By creating a community-owned censorship resistant media DAO, the community takes hold of the medium which in turn directs the culture creating society. Essentially, we flip the system from a top-down corporate zombie society to a bottom-up model. One that is not created in a boardroom but by the common collective of the people. Luckily for society, if the DAO falters anyone can fork the system and start over with new values using the tools we provided through open source.”
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