What is the Screenist eco-system, and the tokens it is based on?

We discuss the topic with Csaba Csabai, CEO of Inlock and core-member of the Screenist-team.

Screenist is one of the first companies aiming to utilize the opportunities in the tokenization of the online advertising segment. But what’s this whole thing is about, and why you shouldn’t hesitate to be a part of it? We discuss the topic with Csaba Csabai, CEO of Inlock and core-member of the Screenist-team.

Photo by Hitesh Choudhary on Unsplash

“The essence of Screenist is to connect the product you see onscreen to a direct purchase opportunity: you see a video or a Hollywood movie, realize that your favorite actor is wearing the perfect sunglasses and would love to have it as your own. With the help of the Screenist-application, you get to check out the brand and the product owner immediately, plus you see a link to a webshop where you can even buy the item right on spot”

- Csaba Csabai, one of the experts behind the blockchain-background sums up the facts.

“It’s obvious that there is a vast amount of broadcastable, streamable content on the web, it’s just incredible to think about the staff Google, YouTube or Facebook need to keep up in order to control this amount of content. That’s where the development behind Screenist comes into play: we have created a working principle whereby a broader community, with the right motivation, of course, becomes interested in the activity, and the system maintains itself while generating profit as well. This practically means that taggers - volunteers who help identify the product on the screen - "consume" media content in bulk, and the place product information based on credible information along with the appropriate time codes”.

Of course it’s not just about a random college student - or practically, anybody - who watches his evening movie and identifies James Bond’s suits and the cool bags you see in Sex and the City: tokenized quality assurance is all about having a multi-level validation system and rewarding - with money, of course - credible information only, so it's not worth cheating. Not only do taggers get their share because they tagged first, the story runs on multiple threads: three validators approve a tagging on a higher level, and if they make a mistake, they pay with their existing stakes - with their money. Even more importantly, the final step belongs to the product owner - e.g. Nike, Armani or Graff Diamonds - who can still veto if it’s not their product - this way we surely get accurate information about what we see onscreen.

It’s perfectly clear that such a complex, fast-moving system, with revenues from all over the world (not just for tagging, but also for ongoing bids and purchases), would be impossible to be managed within a traditional financial framework. Neither the dollar, the euro nor any other currency is suitable for microtransactions since it would not be worth maintaining the system due to the high banking charges. Csabai points out that the system is already paying off for hundreds of thousands of active taggers, and then we haven't even talked about other players who can make a huge difference: advertisers, product owners and, of course, investors.

Yes, this is where a sustainable ecosystem between taggers, advertisers and product owners comes into play. A system that is maintained just by those who hold a stake at it, without central control, and which, of course, would not operate without the perfectly reliable and transparent system of blockchain.”

Clearly, there would be a conflict of interest if not a potentially infinite community were involved: HBO Go wouldn't want to tag a Hulu or Netflix content, and vica versa. This way, on the other hand, we can focus on the interests of the advertisers and taggers, advertisers and products owners (not necessarily the owner of a gigabrand, just think of a smaller sunglasses company, or the webshop where the product is sold), and how these interests are in tune with each other.

“Thus the ecosystem maintains itself through the tokenized system”

says Csaba Csabai, summarizing the essence of the ecosystem.

To read more about how to make a lot of money from this professionally developed system on a dynamically growing market, stay with us for the next post, too.

 


Why is the success of Screenist’s IEO guaranteed?

Screenist is about to proceed with an IEO (Initial Exchange Offering) later this year. What exactly are we talking about, and what guarantees that this move would be successful?

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IEO, and what it really means

The essence of the IEO is basically issuing the tokens prior to the stock exchange listing, when you can lay hands on this unique currency - that you can only use within an inner circle, but soon get to convert it to traditional currencies - for a really awesome price. It’s no secret that startups typically issue tokens so that they can fund their own operation, so you can get them for a really good price.

The key to the IEO's success is that Screenist executes the issue with a reputable, internationally recognized major partner, so it's almost like buying a token on the London Stock Exchange or the Nasdaq, as it meets all the criteria for stock exchange listing. So the good news is that IEO guarantees extra security for all investors. Also keep in mind that a token at this point has a listed market-making price, but if the IEO is successful - that is, the right amount of tokens are sold - the price of token on the stock exchange is open-ended … so the limit is the starry sky, as it’s practically impossible to tell how much a token would be worth then.

It’s worth taking a step now!

The number of tokens is limited, and Screenist will issue a total of 150 million tokens. Similarly to the operation of the traditional commodity market, the principle of scarcity prevails here, too:,

in times of drought, wheat is expensive, however when it is abundantly grown, you can get it for a really good price.

So, in the beginning of the process when there are only a few dozen of users, you may purchase the tokens of the reward-system for pennies, but the more it expands, the less tokens would be available, and as the demand grows, so will its value. Just think of BitCoin, which was very cheap at first, then multiplied its value as more and more people got hooked on the essence of crypto money, free of bank transaction fees, easy to divide and not needing any external intermediaries.

“When it comes to Screenist, in the initial introductory phase, we're talking about a 33 percent bonus, meaning that it transforms $100 to $133. If you’re a small investor, you may access the capital amount - namely the $100 - after six months, whereas owners of larger sums need to wait to years for that”.

Of course, since you may own a token for any length of time - three months or even three years, - and during that time, it can be listed on one or more stock exchanges (one of Screenist's core members, Jason King has a strong expertise on the IEO in the United Arab Emirates, while another member can say the same thing about the States), the value of the token may increase dynamically in real time. After all, the online advertising market is moving towards product placement, and market research firms are convinced that we are about to face a huge explosion in this area.

Why is Screenist (NIS token) worth your trust?

From the above, it is clear what Screenist-tokens are, how they work and how they can bring in plenty of money for a potential investor, but in the end, the question is: why Screenist, why would we trust the business success of this unique, revolutionary tokenized system?

There is a team of highly-qualified professionals behind Screenist, who have been working on making this IEO successful for six years. They are very well aware of the current consumer behavior trends and the online marketing tendencies through which the project is capable of reaching a wider audience.

The CEO himself, Tibor Jakab, has already run and sold several of his own companies. Few people know, but have succeeded in projects on a highly competitive market, and have sold companies to one of the world's largest professional investors. So it is no question that this project with this background work by the team of Screenist is destined for success.

It’s also worth noting that there are ongoing meetings and consultations with the world's leading filmmakers who are involved in shaping the product. Major IT companies are supporting the project, which have already mobilized their infrastructure and human resources for Screenist. This is an unexpected help that illustrates the potential these companies see in this project.

No wonder why: the technical background of the Screenist-token has been designed to attract and engage a wide audience internationally. You can read our article about the details here, and if you have any questions, do not hesitate to get in touch with us.