Script Network Announces Nov. 17th Token Offering on TrustSwap Launchpad

Onuora Amobi ·November 8, 2023

TrustSwap

Script Network, a layer one protocol, open-source live TV platform, and decentralized storage network, has announced their upcoming $SCPT token offering starting November 17th at 5:00 PM UTC on the TrustSwap Launchpad.

Introducing Script Network

The Script Network team is on a mission to democratize and decentralize television for all. Script Network believes premium broadcast TV should be free for everyone, and instead of paying for it, you should get rewarded for it. Through content governance, users/holders should have a say in what is broadcast.

One of their core products, Script TV, is the first watch-to-earn live television platform built to reward users while they watch, provide decentralized video storage, and redefine video advertisement for the crypto industry. Users can earn rewards and enhance their experience through unique GameFi elements on and off-chain.

Highlights

Completed development of video delivery network
165k+ users since our beta launch
Over 170k wallets created on Script Blockchain testnet, with millions of transactions
Over 1.5 MILLION minutes watched per week on the platform
15+ global studio-licensed partnerships
Ad publishing agreements- ads from McDonald’s, Mercedes, etc. - the ONLY blockchain streaming platform with tier 1 licensed ads
400k+ Community across socials

Script Network Core Products

Script TV

Script TV is a watch-to-earn platform that uses an upgradeable NFT mechanism that users can upgrade and re-charge to enhance their earnings. Users can watch multiple different channels, 24/7/365, for free and get rewarded for it.

The process is simple:

Head to Script.TV
Sign up for an account
Mint your first ScriptGLASS NFT
Complete the captcha and interact with the ecosystem to earn daily.

Script TV offers multiple channels with hundreds of hours of shows around the clock. With in-app gamification, users can enhance their experience and earn more per day. Script TV daily rewards from active users can be used to redeem further rewards, including premium content, upgradable NFTs, and more.

Script Blockchain

Script Blockchain is an L1 network built for filmmakers, studios, and any entity that owns content or wants to connect with their existing audience.

Validators can run a lightning node to help secure and scale Script Network while getting rewarded per block or run a Script Edge node and get rewarded for transcoding jobs on-chain.

ScriptGLASS NFTs

ScriptGLASS is the NFT collection that is directly integrated into the watch-to-earn protocol within ScriptTV. At least 1 ScriptGLASS NFT must be equipped to watch and earn on a day-to-day basis.

Each ScriptGLASS NFT is aesthetically unique in color and design, and each has a specific rarity that affects how much a user can earn. When watching content, users will be able to re-charge their glasses, upgrade to higher levels (to earn more per day), buy a gem (for multiplier and raffle opportunities), and loot boxes (which are only available to holders who reach an advanced level).

To ensure a smooth experience for all new users, the first mint of ScriptGLASS will be free and only require the account to accumulate 1,000 points to mint their first pair of glasses and begin collecting rewards.

Business Model

The video entertainment market is changing quickly. Here's a look at the current market numbers.

TV and Film: $2.5T
Video Delivery (CDN): $45B
FAST (Free Ad-Supported Television) Channels: $18B

FAST Channels are now the fastest-growing segment across media and gaming. The model is simple: users get free, world-class television globally, and the business earns revenue through video advertising. Script Network has optimized this model and added several improvements with a focus on decentralization and community governance.

Here is a look at Script Networks' revenue streams.

Ad Revenue: Script TV operates just like a traditional television – there are TV channels you can choose between – anything from sports, documentaries, and live news. Like traditional TV, there are ads that run every ten or so minutes – from tier 1 advertisers that pay Script Network to advertise on Script TV. The more minutes watched on the platform, the more revenue that is generated.

On-Chain Transactions: Script Network earns a network fee for transactions across the Script blockchain. The more dApps and content partners that join Script Blockchain for their service, the more transactions will take place on the network.

Original Content: Original content will act as another revenue stream for Script Network. When content is developed, Script Network will sell and aggregate the content to other distributors and platforms across the media industry. The first is already in the works, with a series of short animations inspired by BearX NFTs (an NFT project in the Script Network ecosystem).

NFT Marketplace: Rather than just be ‘another NFT marketplace’, it is the only destination to get some of the core items in the Script Network ecosystem. This includes exclusive NFT drops from content partners and branded collab drops. ScriptGLASS transactions will also take place here. The sale of native Script Network NFTs is also a revenue stream.

Premium TV Channels: Although Script TV is committed to delivering free television for all, there will be the option of removing ads alongside gaining access to premium TV channels. These include live sports events and bespoke television channels.

dStorage + Content Distribution: Through our video infrastructure, we can save companies, filmmakers (and anyone using content at scale) up to 85% on storage, transcoding, and delivery.

Competitors

Script TV is NOT like YouTube or Twitch. These are user-generated content platforms where users upload content at will for users to watch and view when they wish.

It is NOT like Netflix / Hulu / Amazon Prime. These are subscription-on-demand platforms. On these platforms, you pay a monthly subscription and choose content from a curated library.

Script TV is more like Pluto TV (web2) and Theta TV (web3), but Script TV is the only one that offers fully decentralized video infrastructure with a world-class broadcasting network built on top of it.

Marketing Strategy

Buy-Back-and-Burn: Script Network will commit to buying back and burning tokens on a quarterly basis. Revenue and burn rates will be transparent to the community.

CoinTelegraph Accelerator: CoinTelegraph is one of the biggest publications in crypto. As part of their accelerator, Script Network will have AMAs, advertisements, and publications seen by over 25 million viewers per month.

KOLs and Partners: Script Networks 50+ partners and 325 KOLs will help connect and integrate their audiences to Script Network through APIs, giveaways, and other promotional events.

Referral Program: Leaderboard with leagues based on watch time and monthly referrals. Users go to the leaderboard to get cash and token prizes.

Network of Owned Accounts: Gulf_dao, BearX Labs, Diverge, and more = over 800k followers across our owned social media accounts.

Search / Display / Collaborative Ads: To extend our reach, ads will run in our specific targeted regions pre and post-launch for the foreseeable future.

Token Utility

Script Network is a dual-token economy that is launching on BNB Chain. It utilizes the $SCPT token for governance, staking, and advertising and the $SPAY token for payments, transactions, and rewards.

Content Governance: For the first time ever, viewers have the ability to have a say in what they want to watch. Over 2024 and beyond, Script TV will be the first-ever platform that will allow the ability to put proposals forward for TV shows and films you want to see (similar to protocol governance). This means whether you want to see more American comedies or more Drama films – you can put a proposal forward, and those who hold $SCPT tokens can vote.

If it passes, Script TV (using Nvidia technology) will select future genres of specific content, which will be recommended automatically through AI frameworks (such as RNN). We achieve this by officially being part of the NVIDIA Inception Program to develop decentralized television.

Roadmap

The Script Network Roadmap is updated regularly as milestones are reached. You can see their progress here.

Meet The Team

The Script Network team is made up of 17 team members with the core team having 10+ years of experience in media, content, and finance, building for over two years with over 140,000 lines of code. The wider team has been purpose-built to handle marketing, development, and growth within the network long term. The Founding team has built two 8-figure online companies in the past, with one exit, including an NFT brand that has generated more than $10m in revenue. Their previous experience includes Oracle, Deloitte, BBC, and Channel 4, and running global campaigns for Disney, FIFA, EA Sports, Paypal, Nike + 30 more.

Abiel Alazar - Co-Founder
With close to 15 years of experience in the IT and telecom sector Abiel has been working as an IT specialist at some of the largest firms in Scandinavia like Axians, Tele2, and Advania. Lead consulting for the ‘Big Four’ banks in the Nordics before changing focus to work more on customer development within Blockchain. Vastly experienced in delivering operations for world class brands from Apple, Cisco and Microsoft to name a few.

Akeem Ojuko - Co-Founder
A serial entrepreneur with ten years of experience within content, media, and crypto/blockchain technology. He part-owned a sports content company in which he developed, produced, and directed documentaries, sports shows, short films, and national adverts for companies like Paypal, Nike, Microsoft, JustEat, The FA, and over 20 other tier 1 organisations. Last two start-ups both exceeding $5m and $10m in revenue respectively.

Roomani Bajaj - CTO
Hands-on ex-Oracle technology leader with proven track record of delivering complex Java and other frameworks for tier 1 technology companies. Over 20+ years of experience in IT, software domain and leading technology teams across over 20 projects. Developed and grew technology company to over $15m in annual revenue.

Learn More

Click the links below to learn more about Script Network

Token Offering Details

Tokenomics

Minor update to tokenomics on Dec 7th, updated version here.

Secure Launch Process

To ensure a smooth launch, the Script Network team has agreed to:

Have their domain fully SSL certified one week prior to the launch date.
Have their domain protected by Cloudflare and share the proof with TrustSwap prior to the launch date.
Disclose the vesting schedule of all tokens, including team, strategic investors, private presale, influencers, etc.
Distribute tokens to launchpad participants within one hour of exchange listing.
Provide the timeline for token distributions and distribute tokens within a one-hour window of the agreed-upon time.
Lock 75% or more of team & dev fund tokens for a minimum of thirty days on http://team.finance/ within 6 hours after listing.
Have at least one community moderator on each social platform (Twitter, Telegram, etc.) actively available 24 hours a day for the first 7 days following the launch.

Participation and Allocation

This Launchpad offering is for a Public Round allocation of the $SCPT token. Anyone who wants to join can apply, but application does not guarantee an allocation.

As always, anyone with a $SWAP Staking Score of at least 4,000 can receive a guaranteed allocation provided that individuals (and entities) pass KYC (jurisdictional restrictions apply). Token allocation will be split up among eligible participants proportionately based on their percentage of the total combined Staking Scores. Any unclaimed allocations after the initial funding round will be offered to those who might otherwise be ineligible.

Visit the TrustSwap Dashboard to check your staking score. You can add more SWAP and/or increase the duration of your stakes at any time to increase your Staking Score. To learn more about Staking Scores and the TrustSwap Long-Term Staking Pool (LTSP), read our comprehensive blog post.

Step-By-Step Guide

Prepare for Launch Day by ensuring that your SWAP stakes are topped up before the snapshot. You can also complete your KYC in advance.

On November 17th, 2023, at 5:00 PM UTC, the application window will open for 24 hours. During this time, go to the TrustSwap Launchpad and click the “Start” button to apply. The snapshot will be taken at 5 PM UTC on November 18th, 2023 (24 hours after the Launch event begins).
Complete all of the steps required for KYC verification. This can be done in advance at any time for free in just a few minutes. To save time on launch day, complete your KYC registration now.
On November 18th, 2023, at 5:00 PM UTC, the application portal will close, and a snapshot will be taken of all active SWAP stakes. There will then be a waiting period of up to 48 hours as the Script Network team finalizes internal processes.
Successful applicants will receive an email confirming their total allocation (the maximum amount they are allowed to contribute to the token offering) and asking how much they wish to contribute. Individual allocations will be either the full allocation or the pledged amount, whichever is lower.
You will have 24 hours to send funds. After 24 hours, your position will be given to the next in line, and you will lose it. Payments must be sent in USDC or USDT on either Ethereum (ERC20), BSC (BEP20), or Polygon (MATIC) blockchain.
Any tokens that are unclaimed after the initial funding round may be offered to those who applied successfully but were not eligible for guaranteed allocations.

How To Prepare

Based on the requirements set for a guaranteed allocation, stake your $SWAP tokens in the Long-Term Staking Portal before the snapshot on 11/18/2023 at 5:00 PM UTC.
Take a photo of your government-issued ID card (Passport, Drivers License, or any other form of government-issued ID card that has your photo in it).*
Take a selfie of yourself holding the ID card along with a note that reads: “SCPT 2023”.*
Make sure to follow the TrustSwap Announcement channel for updates and confirmations.
Submit your details and documents at any point during the 24-hour launch window at https://dashboard.trustswap.org/app/launchpads.

Note: Steps 2 and 3 are not necessary if you have an active KYC registration. You can save time by pre-registering at https://dashboard.trustswap.org/app/sekuritance.

Who Can Participate in the $SCPT Token Offering?

Anyone not domiciled in the USA or UN-sanctioned countries can participate in the $SCPT Public Round token offering.

Disclaimer: Launchpad dates and details are subject to change. This is not an endorsement, partnership, or offer for investment by TrustSwap. Script Network is using the TrustSwap Launchpad as a customer, with specific requests as to how they need their launch to operate. TrustSwap is a provider of non-custodial, smart-contract-based software services. Digital assets carry a high level of risk. Participation is performed at your own risk. Exercise caution and conduct your own due diligence.

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