MinersINC receives angel funding; sets eye on releasing a new blockchain based entertainment ecosystem

MinersINC, a company engaged in building a Blockchain-powered P2P platform for the entertainment sector, has been developing a new platform in stealth mode for the last 9 months. The platform is designed to be a back-bone for India’s vast entertainment industry and targets to plug the gaps between creators and consumers in terms of offering and consuming global quality content. The company has already evinced substantial investor interest, and has received anchor investment from Mr. VC Bothra, a Singapore based businessmen .

The platform will deploy a community-driven approach in the entertainment sector for content creation and distribution, enabling direct and more rewarding interactions between all the stakeholders that make up the entertainment economy. The company’s differentiated business model addresses the current open gaps and shortcomings in India’s entertainment sector and aims at providing benefits to all stakeholders of the economy – creators, consumers, and regulators. The Blockchain-powered platform will empower creators to sell directly to their intended audience making it a capital lite model from production to content distribution. For consumers, MinersINC will enable the community to be part of the entertainment economy, beyond viewing films or listening to music. The Engaged Consumer Community will participate and drive activities on the platform will also get incentivized for their passion and attention. The use of blockchain technology will also effectively prevent potential revenue leakages and promote transparency in transactions, thereby adding to the exchequer’s revenues while reducing the need for them to spend on enforcement.

Speaking on the occasion, Nitin Narkhede, the founder of MinersINC, said, “MinersINC was started because we wanted to create an ecosystem that makes consumers a core and integral part of the of the entertainment economy. We also wanted to provide means for creators to personalize content & express freely while getting closer to their consumers. Blockchain technology will be at the heart of this platform and will give us a truly democratic platform”. Deepak Jayaram (Deejay), the co-founder believes that “Great cinema is our collective legacy, but content needs to discover its true value and not become a victim of an archaic distribution system which limits audience choices instead of enhancing them. Our platform will create an engaging environment which will reward consumers for following their passion for entertainment”.

MinersINC is currently undergoing user-testing, and is expected to launch the platform for the ‘Indian at heart’ in the fall of 2018.