Film and TV rights and financial services company Fintage House has signed a deal with social entertainment platform TaTaTu, which recently partnered with Johnny Depp, to accept the platform’s cryptocurrency, TTU Tokens, for film and television rights transactions, Variety reports.
These trade on cryptocurrency exchanges HitBTC, ABCC, and Liquid and are employed by TaTaTu users to pay to watch content, for the venture to compensate content creators, and to pay for advertising on the platform.
Niels Teves, co-CEO of Fintage House, says: “We welcome the innovative spirit of the TaTaTa platform and wish (Andrea Iervolino, a movie producer who runs the business), success with the implementation. Soon we expect to start drafting the first agreements where we shall be accounting and paying out in TTU Tokens, whereby through the appropriate platforms the tokens could be exchanged in fiat currency.”
Earlier this year, TaTaTu closed a $575 million token pre-sale. It is using the cash to acquire and create original content, recruit new users, market the platform and develop the software.
Among the supporters of TTU Tokens are Prince Felix of Luxembourg, BlockTower Capital and Lvna Capital, and Lady Monika Bacardi.