Update: More details regarding the Script Network raise added on December 1, 2023.
The next fundraise is just around the corner for AngelBlock. It’s been a long-awaited moment, and with the overall market showing improvement and confidence slowly returning to investors, startups are more eager to kick off their fundraising campaigns. On that note, we are thrilled to announce that The Script Network is ready to raise on AngelBlock on December 5, 2023.
As our longstanding community members know, we introduced Script Network back in August through a participation assessment form, and the response was overwhelmingly positive and many expressed their desire for Script Network to have a raise on our protocol. We share that excitement and look forward to showcasing Script Network along with our protocol features to the broader community. In the article below we will delve into all the raise details and info around Script Network. Specifically, we’re about to dive deep into:
- What is Script Network
- How does it work?
- Script Network Highlights
- Script Network Products
- $SCPT Utility & Tokenomics
- AngelBlock X The Script Network Raise
- AngelBlock X Script Network Milestones
- How to Participate in the raise?
What is Script Network?
Script Network is a layer 1 open-source live tv platform, protocol, and storage network. One of their core products, Script TV, is the first watch-to-earn live TV platform, built to reward users whilst they watch, provide video dStorage and redefine video advertisement for the crypto industry.
In more detail, it’s a decentralized video delivery network that furnishes an expansive range of blockchain-enabled solutions to the problems related to the traditional video-streaming sector. The platform offers high-quality video streaming as well as multiple incentive mechanisms for decentralized bandwidth and content-sharing at a reduced cost as compared to conventional service providers.
How does it work?
Script Network allows users to simultaneously watch video content and earn token rewards for relaying video to other users who are also watching the same content. In the same vein as other sharing economy models, users opt-in to volunteering their spare bandwidth and computing resources to relay video to other users and earn token rewards for their contributions. Users can contribute to Script Network on any PC or Server. For video platforms, integrating Script Network into their video delivery stack enables them to reduce video delivery costs, deepen viewer engagement, and drive incremental revenues. By spending less on video delivery infrastructure, and more on rewarding their users, Script-enabled video platforms can grow their user base and gain market share.
Script Network Highlights
- 165k+ users since the beta launch
- 170k+ wallets created on Script Blockchain testnet with millions of transactions
- 800K hours watched so far on the platform
- 15+ global studio-licensed partnerships
- 28 brand agreements
- Ads from McDonald’s, Mercedes, etc — the ONLY blockchain streaming platform with tier 1 licensed ads
- 400k+ Community members across all socials
Script Network Products
Script TV — a watch-to-earn platform that uses an upgradeable NFT mechanism that users have to upgrade, re-charge, and enhance to enhance their earnings. Simply, a user signs up and 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 to an account in 30 seconds
- Mint for the first pair of glasses
- Complete the captcha, earn daily, and interact with the ecosystem to earn daily.
Script Blockchain is a L1 Blockchain that is built to enhance, improve, secure, and grow studios, filmmakers, content partners and builders within film, media, and television. It allows users to run a lightning node, and help secure and scale Script Network whilst getting rewarded per block, or, run a Script Edge node, and getting rewarded for transcoding jobs on a chain.
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 for example, more American comedies, or more Drama films — you can put a proposal forward, and those who own $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). They can achieve this by officially being part of the NVIDIA program to develop decentralized television.
ScriptGlass is an upgradeable, and tradeable NFT collection connected to the watch-to-earn mechanism. For every user to earn tokens and rewards, they will need to own a ScriptGLASS NFT, for which they can: upgrade, re-charge, and level up. Which improves their experience through more earnings, more rewards, or more access. This mechanism is built to reward long-term users who are active across our ecosystem.
dStorage + Enterprise
dStorage is the enterprise product. It allows clients and entities who are storing, transcoding, or airing their content online to do so at a significantly lower price. Among the goals of Script Network is to decentralize this process completely, saving company costs on one of their costlier points within the media industry.
$SCPT Utility & Tokenomics
$SCPT is the token used by the Script Network. It’s a multi-use token, which acts as a token of governance for producing and validating blocks and as a direct incentive for users. At its launch, $SCPT will be available on BNB and Script Blockchain. Script’s ecosystem products alongside their reward mechanism will also be available on Mantle and other chains shortly after launch.
The Script Network will use the $SCPT Token as a direct incentive for users to not only watch and discover great new content but also to share their bandwidth and memory for videos, improving the overall stream quality for all users. In total, 1,000,000,000 SCPT utility tokens will be released.
The Script Network Links
AngelBlock X The Script Network Raise
- The initial price for $SCPT is set at $0.01. However, investors on AngelBlock will be able to access it at Seed Round price which is set at $0,00667 significantly lower than the rest of their funding rounds as well. Just for reference, the rest of the fundraising rounds that Script Network has are:
- Alpha Round Price: $0.00715
- Community Round Price: $0,00940
- Public Round Price: $0,00940
- The maximum token supply stands at 1,000,000,000.
- The collective fundraising goal for Script Network is targeted at $1,245,000 and counts all the fundraising rounds. (Seed, Alpha, Community, Public)
- The circulating supply of $SCPT at the time of launch 91,960,000 $SCPT
- The initial market capitalization of $SCPT is set at $919,600 with the fully diluted market cap at $10,000,000.
- The minimum investment to participate in the Script Network raise is set at $500.
- For investors who have not completed KYC, their maximum contribution in the raise is set at $999. You can read more about that in the KYC process we have implemented below.
- Investors will be able to participate in the raise with USDT on ETH mainnet. The token claim however will be on the BSC chain.
The Seed Round vesting plan is:
- Cliff: 3 months cliff after the TGE which is scheduled to take place in December 2023.
- Linear Vesting: After the cliff, investor tokens will be released proportionally each month, for the course of 12 months in total.
For the Seed Round that AngelBlock investors will be able to participate in, the vesting plan will be based on the Milestone Delivery plan and not the regular seed round vesting schedule. Investors will have their tokens released monthly after each milestone vote. You can see the token release plan below under “AngelBlock X Script Network Milestones”.
AngelBlock Raise Goals
For the upcoming Script Network Raise specific details have been set regarding the amount raised. Specifically:
- Soft Cap: $25,000
- Hard Cap: $50,000
AngelBlock X Script Network Milestones
Our approach to governance is a distinctive feature of AngelBlock, distinguishing us from traditional launchpads. In each project listed on AngelBlock, a set of milestones is established before the fundraising event begins. Each milestone includes clear deliverables, timelines, the proportion of the budget to be unlocked for the projects, and the amount of tokens to be released. These milestones act as progress checkpoints and provide reassurance for investors. When a milestone date is reached, the startup submits a delivery report. As an investor, you then vote to approve or reject the progress based on this report. This system ensures the startup’s progress and the release of funds becomes a shared responsibility between the startup and its investors. For the upcoming Script Network raise the below milestones have been set.
In a similar manner, for the Script Network raise, the funds raised will be released based on the Milestone Voting plan. Specifically, Script Network will have 3 Milestones to reach, each lasting for 1 week.
- Milestone 1
Date: 18 Jan 2024
Funds released: 28.76%
Goal: Conduct IDO and have $SCPT live for trading with liquidity in a top 20 CEX.
- Milestone 2
Date: 19 May 2024
Funds released: 31.68%
Goal: Hit 65,000,000 minutes watched on the platform (at 48,000,000 minutes currently)
- Milestone 3
Date: 19 Sep 2024
Funds released: 39.56%
Goal: Add 30 TV channels and launch of content governance
The token release schedule, however, is split into monthly releases. Starting from March 18, 2024, and after the approval of the 1st Milestone Voting in January, Script Network investors will receive a proportional amount of their tokens on the 18th of March, 18th of April, and 18th of May, before the next milestone unlock. The specific release plan can be seen below.
If you are interested in learning more about our post-raise mechanics and how our milestones work you can do so here.
How to Participate in the raise?
1. Staking Tiers
At AngelBlock, we’ve instituted a distinctive staking tiers system designed to create a fair and rewarding environment for investors. By staking $THOL tokens, you are placed into specific tiers which each have their own level of priority access and ticket sizes to the fundraising projects.
Here’s a detailed look at our staking tiers:
- Standard User (Tier 0): Users who’ve staked 0–20k $THOL fall into this category. Standard users can invest up to $2k, and they gain access to the fundraise after the first three tiers have had their opportunity.
- Value Investor (Tier 1): Users staking 20k — 100k $THOL become Value Investors. These users have the opportunity to invest up to $10k and gain early access to fundraises after the first two tiers have participated.
- Angel Investor (Tier 2): With 100k — 500k $THOL staked, investors fall into the Angel Investor tier. These investors have access to larger investment ticket sizes of up to $25k, along with the privilege of second priority access for the given fundraises.
- Institutional Investor (Tier 3): Our top-tier users, staking 500k+ $THOL, are labeled as Institutional Investors. These individuals enjoy the most substantial benefits, being able to invest up to $50k and gaining first priority access to fundraises. Notably, any community sale participant who stakes a minimum of 1000 $THOL at the start of the raise will be considered a Tier 3 investor.
Each tier enjoys a 24-hour window of priority to invest in the project, starting with Institutional Investors, followed by Angel Investors, Value Investors, and lastly Standard Users. You can learn more about our staking tiers here.
Get THOL here:
- Visit Uniswap and swap your preferred tokens for THOL
- Visit MEXC and get THOL through the USDT/THOL trading pair.
2. The KYC process
Participation in the Script Network raise for contributions exceeding $999 requires completion of a Know Your Customer (KYC) process. This process is designed to prevent fraud and illegal activities.
The KYC process is managed by Fractal ID, an identity solution provider for the web3 space. Completing the KYC process prior to the raise can help avoid potential delays that may occur due to high demand during the raise.
For more information about the KYC process and how to complete the identity verification check out our dedicated article.
3. Participating in the raise
After completing your KYC and acquiring the required amount of THOL for the staking tier you desire, participating in the raise is a straightforward process. You can see the process of participating in a raise on AngelBlock with our step-by-step guide here.*
*The process outlined in the staking guide above is for an ETH-based raise. However, it’s important to note that The Script Network raise will be conducted on the BNB chain, resulting in significantly lower network fees.
4. Post-Raise Governance
On AngelBlock, the role of an investor extends beyond merely contributing capital. Upon making an investment, the contributor is assigned a Badge, a unique, non-transferable ERC-1155 token. This Badge symbolizes the investor’s voting power during milestone voting, thus participating in critical project decisions.
Due to their non-transferable nature, these Badges ensure only the original investors can take part in milestone voting, upholding the integrity of the project’s development direction. It is essential for investors to vote from the wallet that initially received the Badge. You can learn more about badges and how they work by visiting our blog here.
Reminder: Keep the wallet you plan to invest in safe at all times. If anything happens to your wallet, there is no other way to claim your tokens or vote during the milestone process.
We believe it’s essential for you, as an investor, to familiarise yourself with AngelBlock’s unique features prior to the start of the raise on December 5, 2023.
Our goal is to foster a more transparent, equitable, and investor-focused environment in digital asset fundraising. It’s important to remember that we’re not just offering a platform for investment, but an opportunity to actively participate in the growth and success of innovative startups within the web3 ecosystem.
For any further queries or support, don’t hesitate to reach out to us. You can do so by joining our community:
Written by Nikos Fratzeskos