Lady Monika Bacardi of the Bacardi rum empire has made an investment valued at $100 mln in a blockchain-powered social entertainment platform, according to an announcement from the company shared with Cointelegraph today, May 11. Lady Bacardi is quoted by the company as saying that the platform, dubbed TaTaTu, “reinforces [her] bullish stance on the promise of blockchain technology and cryptocurrency.”
TaTaTu proposes to incentivize viewers using their platform – which is a hybrid of a Video on Demand (VOD) service and a social networking site – by rewarding them with crypto tokens for consuming and contributing content. The tokens also allow advertisers to pay for advertising on the platform. TaTaTu argues that traditional video streaming services encourage illegal piracy, and that a blockchain system can offer higher levels of transparency for rights holders.