Name of Project
Story Line, the video NFT platform
Application type
Product Launch
Story Line is for filmmakers and audio/video creators and enables them to launch a DAO around their film or episodic video series project. Passionate supporters can buy tokens in the DAO which allow them to help steer parts of the project, get access to the project first when it’s released, and share in its potential financial upside.
Story Line is the missing layer for video NFTs and will ultimately facilitate the entire end-to-end journey, from idea to distribution to recoupment, of film and video endeavors. We are even exploring novel concepts, uniquely enabled by web3, where stories can be built up, ripped, and remixed by fans with compensation duly accorded to the new and original creators.
In v1, our focus is on getting film projects launched with passionate supporters backing them.
Key Milestones for Story Line:
- 10k creators sign up by April 1, 2021
- 1k projects launched on Story Line by April 1, 2021
- Average: each would have 1000 supporters at $50 each, averaging $50k per project
- We engage in 10 serious conversations with high profile filmmakers to launch their project on Story Line, primarily for marketing purposes to drive awareness and excitement for Story Line
Story Line lets creators:
- Create a film project DAO
- Create tiers of NFTs and mint them
- Set the rights the NFT tier affords viewers, including a share of the potential upside of the project
- Release their film to token holders
- Automatically and transparently share revenue among their crew members
Current Status:
- Working demo, live on Rinkeby: Loom | Free Screen & Video Recording Software
- Raising a $50k grant to develop and market the MVP.
Product Next Steps:
- Smart contract to check a Metamask wallet for the requisite NFT (in 15 days)
- Encrypt video and integrate with IPFS or Arweave (in 15 days)
- Automated revenue share among film crew members and DAO token holders (in 30 days)
- Let creators launch DAOs (in 90 days)
Budget:
- MVP launch: 2 months of development (Dec 15, 2021): $30k
- 3 months of launch marketing to spread awareness: $20k
- Press
- Social Media
- Funding for the famous filmmakers (big dream goal 1): TBD
Comparables/Inspiration:
- NBA Top Shot - fantastic how they got the involvement of numerous high profile players and serves as a playbook for how we want to get numerous high profile filmmakers
- Mirror.xyz – there are a number of parallels to Mirror who focuses on writing
How Story Line works:
There are two sides to the application, the creator side and the viewer side:
Creator side, to launch projects:
- Creators connect their Metamask wallet and start a film project.
- They create tiers of ERC-1155 NFTs with the respective quantities; add the crew members and define their % of the proceeds from the NFT sales and subsequent sales; upload their media and publish.
- The NFT is now available and the creator can post it to Opensea or DaVinci Gallery.
Viewer side, to access projects:
- When a viewer purchases the creator’s NFT, it gives them access to a film at a certain window of time. The viewer goes to the video URL and connects to their Metamask wallet.
- The site checks the viewer’s Metamask wallet for the requisite NFT.
- If the NFT is there, the site fetches the video URL and the viewer can watch it.