LOS ANGELES, CA / ACCESSWIRE / July 26, 2021 / Cinedigm (NASDAQ:CIDM), the leading independent streaming company, announced today that they have partnered with Rad.live to utilize Ara, their comprehensive Non-Fungible Tokens (NFTs) platform and marketplace as the key back-end solution for Cinedigm's plans to integrate NFT capabilities into its Matchpoint app development platform. Rad's platform allows a content publisher to package and monetize any type of limited-edition premium content alongside its full streaming service across devices.
As part of this partnership, Cinedigm will make available its recently announced limited-edition Fandor Selects™ films, TV shows, and other exclusive content as NFTs via Rad's Ara platform. The Ethereum-based NFTs will include all forms of video-on-demand content, and extend into providing access to linear streams, subscriptions, and live events. In addition, the companies are working on integrating Rad's full blockchain distribution and rewards platform Ara into Matchpoint for distributing NFT content across Cinedigm properties.
"As we continue to strengthen our portfolio of enthusiast brands and channels with pop culture icons like Bob Ross, Elvis Presley, and more, it is increasingly important for us to offer our customers a unified revenue solution across business models," said Erick Opeka, President and Chief Strategy Officer at Cinedigm. "Partnering with Rad makes us the only company to offer turn-key NFT distribution options alongside subscription, digital distribution, on-demand and linear revenue generation models. This is a huge competitive advantage in the streaming marketplace."
"Given the tremendous interest in NFT and the promise that it holds for premium brands and content owners, we are excited to partner with Rad.live who has spent the last several years developing their own blockchain-based NFT marketplace," said Tony Huidor, Chief Technology & Product Officer at Cinedigm. "As the entertainment business continues to evolve, we are keen to embrace technology and to partner with innovative companies that are leading the way."
"Cinedigm is constantly pushing the boundaries of content and distribution, and it feels great to innovate together, further establishing a leadership position in the industry," said Tony Mugavero, Co-founder and CEO of Rad. "Blockchain technology and NFTs are becoming a foundational layer of how digital content is bought, sold, and tracked, and soon every piece of premium content will be on the blockchain. We're making that a reality together with Cinedigm."
The two companies already work together to distribute numerous linear channels like Comedy Dynamics, Bloody Disgusting, ConTV, and the Bob Ross Channel via the Rad apps on PlayStation, Google TV, mobile, and web, and will start leveraging distributed ledger technology for packaging up transactional content, limited editions, and other long and short form digital collectibles. In addition to collectible pieces of content, viewers will be able to earn cryptocurrency-based rewards for participating in the platform, resell rare content to other collectors, and earn royalties on the secondary market.
Fandor Selects™ first NFT will be A Life at Stake (1955), directed by Paul Guilfoyle and starring Angela Lansbury and Keith Andes. An out-of-work architect (Keith Andes) meets a married woman (Angela Lansbury) who has a business proposition for him. The architect begins to suspect the woman's interest in him is not just financial and may actually be deadly. Originally distributed in 1955 by Gibraltar Motion Picture Distributors, Inc., this independent production from the golden age of film noir featured Angela Lansbury as the charming femme fatale, already twice Oscar nominated for performances in "Gaslight" (1944) and "The Picture of Dorian Gray" (1945).
The NFT will be limited to the first 100 units and will feature access to the stunning 4K restoration of A Life at Stake (1955), available for download, as well as exclusive special features including commentary by professor and film scholar, Jason A. Ney, and an original production from Ballyhoo Motion Pictures: "Hollywood Hitch-hikers: Inside the Filmmakers." Adding to the release's exclusive offerings will be one limited edition lithograph, which will be available via auction. The Fandor Selects™ NFT of A Life at Stake (1955) marks the first in a series of upcoming NFT offerings from the Company, representing a unique opportunity in ownership of the Company's films, TV episodes, and premium content.
An innovator in the digital transformation of the entertainment industry for more than two decades, the deal continues Cinedigm's core mission to entertain the world by building the world's best portfolio of enthusiast channels and services for the streaming generation. Through a diverse mix of premium SVOD services and dedicated AVOD and FAST channels, Cinedigm's streaming portfolio reaches indie film (Fandor), horror (Screambox & Bloody Disgusting) and family entertainment (Dove Channel), as well as dedicated channels for iconic entertainers, led by Bob Ross (The Bob Ross Channel) and coming in 2022 Elvis Presley (The Elvis Presley Channel). Cinedigm's ultimate goal is to build destinations that immerse viewers in content they love while staying at the forefront of technology as the streaming industry continues to evolve.
For more than twenty years, Cinedigm (NASDAQ:CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains hundreds of millions of consumers around the globe by providing premium content, enthusiast streaming channels and technology services to the world's largest media, technology and retail companies.
About Rad and Little Star Media, Inc.
Rad is a streaming app where viewers discover the best in Premium E-Sports, Gaming, Music, Comedy, Sports, Live events, Free TV, and VR. Watch thousands of hours of content, join watch parties, buy limited edition NFTs, get XR experiences, and collect crypto rewards. The Rad app is available across devices, on PlayStation 4, PlayStation 5, PSVR, Android TV, iOS, Android, and web. https://rad.live
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SOURCE: Cinedigm Corp.