In a recent conference held at the Virgin rose resort, Victoria Island, Lagos on Monday 8, 2018, after rigorous discussion, the Nollywood industry has finally embraced blockchain technology which would be used to solve the long-lasting royalty issues on intellectual properties.
Amongst those present at the conference ranging to At least 40 motion picture practitioners, who amongst were Sunny Mac Don, Rachael Oniga, Emeka Rollas, Kingsley Okereke, Remmy Ohajianya, Angela Phillips, Tony Akposhire, Austino Milado and Frank Dallas.
Nicholas Lawrence Onumara the founder & CEO of Blocknolly TV, in a statement, said the introduction of Blockchain targets to improve the financial status of entertainers through royalties.
Blocknolly TV is a decentralized streaming platform built on the ethereum blockchain, to distribute royalties to entertainers using a smart contract,” Nicholas said.
With this innovation, actors and entertainers can now earn royalties for their works for life. This innovation did not leave the viewers out of the party as viewers can also earn for watching contents on the Blocknolly platform.