Alibaba to tokenize it's upcoming Movie Rights

[Harrydose]

On November 22, China.org.cn reported Alibaba picture is the division of movie-making Alibaba plans to tokenize distribution rights for his new film “Striding into the wind,” which is a production of Chinese-English language -.

An agreement has been signed between Alibaba and breaks the decentralized entertainment platform based in New York, who was known as a former SingularDTV, to distribute the film abroad using their blockchain platform.

According to reports, the news was announced by Li Jie, vice president of Alibaba Photos and CEO of Alibaba ticket application Taopiaopiao China during the Golden Rooster and Hundred Flowers Film Festival on November 20.

Source: TheCoinRepublic

[slaman29]

Never heard of this movie at all but what does it really mean to tokenize the rights? I would totally get tokenizing to raise money for the movie, but this guy doesn't need the money to make films, so what does this actually do to the film? People will get profits if they hold tokens to the movie? And they get a share of royalty from every showing? How does it work?

[niisarearning]

It may be good move but how does it help the crypto space . Also what kind of solution they are trying through blockchsin which token they are using . Is that movie copyright stored in blockchain or movie previewed based on token not clear about any information . It is common to tie up big names to create hype this time alibaba I don’t think this is the great news for long term  crypto growth.

[K4C]

The Chinese Government seems to be waging a war on Cryptocurrencies and I hardly think that tokenizing movie rights at a time like this is the best move considering the fact that the country's Government is still quite confused about what it really wants, they say "It's Blockchain, not Cryptocurrencies" and yet they are planning to launch their own Cryptocurrency in 2020, well the gates has been opened and it would be very hard to close now, if this news is actually true (well I am skeptical considering the recent fake news about a police raid in Binance office) then it's just the beginning of better things to come.

[jossiel]

So this kind of innovation will affect the film financing base on that article. I'm still curious on how they will implement this kind of distribution using the blockchain technology.

Tokenizing the rights.

There will be a value for that token or it won't be used as an altcoin just the way we see other projects doing it?