A Tel Aviv-based broadcaster, focusing on tech-related news, has announced that it plans to introduce a native token later this month. According to a report released by the broadcaster, the utility token, which has been named BLTV token, will make it possible for the broadcaster’s audience to get a chance to unlock certain exclusive features.
For instance, the audience will be able to use the BLTV token to purchase tickets for events organized by the broadcaster. Individuals can also use the token to pay for any ads that they would like to be run by BLOCK TV.
BLOCK TV Token Distribution
The report released by the broadcaster noted that the company also intends to follow a different approach when it comes to the distribution of its tokens. Instead of holding an ICO or Initial Coin Offering, as is the norm, BLOCK TV will instead have all its tokens listed on Bittrex Global starting November 21.
While the distribution model has a close resemblance to that of an initial exchange offering (IEO), the broadcaster pointed out that they did not intend to hold a private token sale.
Using Rewards to Engage the Viewers
Apart from the tokens that will be listed by the broadcaster, viewers will also get a chance to earn tokens by spending some time watching the ads on the air. Viewers should, however, note that all of the tokens that they will earn by watching ads would have to go into complete lockup for a period of 12 months.
According to the broadcaster’s whitepaper:
“All token holders will now have a chance to view content that is not being aired on the normal broadcasting stream. Using the BLTV token to pay for the exclusive content means that the audience will now get access to market predictions and insights, special reports, high profile debates, one-on-one interviews, and expert analysis.”
BLOCK TV launched at the beginning of 2019, and its stories have mainly focused on developing tech sectors, such as autonomous cars, blockchain, cryptocurrencies, the internet of things, and augmented reality. Company statistics indicate that it has a total viewership of around 11 million viewers.
Since its inception, its content has been viewed around 35 million times. The viewership numbers mentioned here refer to the 1,200 hours of original content that has so far been aired by BLOCK TV. Even if the company is currently only operating in Tel Aviv, there are plans to ensure that it gets to expand to other parts of the world in the coming months.
Featured image: cryptoslate.com
