The establishment of a streaming service called NollyTV where producers can sign Smart Contracts that enables each person that worked on the movie to get paid every time someone streamed the movie online has been hailed by Nollywood players.
Hailing it as a game changer; some of the known figures in the movie industry who have given the Nollycoin and Nollytainment initiative their backing during the launch of the project at the Oriental Hotel, Lagos, included; Zeb Ejiro, Fred Amata; Chico Ejiro; Emem Isong; Daniel Ademinokan; Simi Opeoluwa; Faithia Williams and Charles Novia.
According to lawyer and Business man, Dr. Ope Banwo’s who is behind the new initiative, Nollycoin is simply a pocket boosting medium for filmmakers while also solving the issue of movie financing.
“We are excited to be the first in Africa. We are creating an ecosystem, which is the NollyTV online streaming, where Nigerians can now use Nollycoin to watch movies in cinemas. It would be kkicking off with a blockbuster Nollywood movie in Ozone Cinemas in July, which would be announced soon,” said Dr. Banwo.
Reports say when the initiative regarded in some quarters as the currency of the new Nollywood ecosystem becomes fully operational; accessing some movies both in cinemas or online would have to be through Nollycoin.
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