SingularDTV (SNGLS) is a blockchain platform that is designed to build the infrastructure for a decentralized entertainment industry. SNGLS is the native cryptocurrency for the SingularDTV blockchain, with each token representing a share in intellectual property (IP) of S-DTV: film, television and software projects.
The platform’s goal is to create
a film and television distribution platform that is “transparent, and somewhere where artists and creators have control of their IP,” according to the platform’s website
It is split into two sections: the centrally organized distributed entity (CODE
), which is a new form of structure for an organization, and the smart contract system, which is the decentralized component.
SNGLS, which was launched in October 2016, reached its all-time high of $0.435405 in January 2018. But the price action has been choppy since then and is down since its high from almost four years ago.
How SingularDTV works
SingularDTV is built on the Ethereum blockchain and operates using a proof-of-stake
system run by the CODE. That is similar to a decentralized autonomous organization (DAO) in that token holders are entitled to receive dividends from the profit generated by the platform. Unlike a DAO, however, SNGLS is centrally managed, meaning token holders don’t have voting rights or a say in the future development of the platform.
The SNGLS tokens themselves represent intellectual property and are considered tokenized assets, but they can also serve as utility tokens and be used to pay gas fees
when performing smart contract
Key Events and Management
SingularDTV was conceived in 2013 by co-founders Zach LeBeau and Kim Jackson. One year later, Joseph Lubin
– one of the original founders of Ethereum – joined as the company’s third co-founder and chief technology officer, followed by Arie Levy-Cohen as its last co-founder in 2015
In October 2016, the SNGLS token officially launched via a public token sale that raised 580,000 ETH, which at the time was worth about $7.5 million.