Today marks the first day of our crowd sale campaign, and as such, this post is our initial announcement. During this month and the next, we will be releasing numerous pieces of content to help you better understand our company; our projects, and; our strategic direction.
This week includes our crowd sale announcement, pitch videos, the final draft of our whitepaper, and more information about our team.
Why Thirsty Entertainment?
User-generated content has created a multi-billion-dollar industry for social media companies. However, the value generated by this content is disproportionately returned to creators.
Creators are not guaranteed monetary returns, despite the user retention and ad revenue they create for each platform and its shareholders. For this reason, Thirsty Entertainment is creating digital distribution solutions for all types of content creators.
Creating innovative digital distribution platforms and techniques, Thirsty Entertainment is setting a new technological standard for old distribution industries by incorporating financial technologies such as crpytocurrency. While also utilizing database technologies, Thirsty Entertainment provides a class of client-business trust not traditionally found in business.
Legally registered and operated, Thirsty Entertainment revolutionizes the way that businesses are operated on the internet.
THIRSTY - User Issued Asset
Thirsty Entertainment has chosen to issue shares using the Bitshares network. This allows those with executive permission in the the company to control and delegate stakes to investors in a private and secure way.
Bitshares network
The bitshares 2.0 blockchain uses delegated proof-of-stake methods to sign data into their database. Using this method, they have created an easy way for companies to create, issue, and sell company assets. This allows us to easily & securely share ownership of our company with potential investors.
Limited Supply
The ability to create and issue assets at our own discretion allows us to limit the supply of shares being bought & sold. This removes the drawback of over-inflation for company's with asset minting algorithms, and instead increases the demand for shares on our network, also allowing us to create share incentives for investors.
Stock splits
As demand for shares increases, it becomes essential to increase supply. To do so, stock splits will become an integral part of our share structure as an incentive for early investors. Doubling the amount of assets held by share holders gives share holders an opportunity to depart with the excess they receive, therefore increasing the amount of assets available on the market. Stock splits also increase the attraction to hold shares, knowing that if a price is x amount and the amount of assets the investor holds, doubles, the total estimated value of that portfolio also doubles.
Dividends
Dividends will be issued to those who hold shares in our company using the OpenLedger exchange on the Bitshares network. This is an incentive for investors to buy & hold our shares. Dividends will be issued annually and a decided percentage of net profit made during the previous financial is to be dispersed among THIRSTY holders.
Legally registered company
A part of our strategic direction is ensuring our business operations remain regulated by law. Part of running a successful company includes trust, and by remaining a legally compliant company we can be held accountable to share holders. Although the use of database technology provides a public ledger of our activity, we believe it's also essential to include old industry standards and set a standard of accountability for businesses operating on financial tech platforms.
Company delegates
"There is a drawback ... namely, a centralized issuance of new tokens. To some extent, this could be managed by a hierarchical multi-signature issuer account that prevents any single entity from issuing new coins but instead requires a consensus among an arbitrary set of people to agree on any changes to the coin"
Permissions of control over asset issuance & creation is to be delegated to our senior executives, namely our CEO, Thomas Kohi, and our co-founder and managing partner, Troy Shrimp. Without the permission of all delegated seniors, assets cannot be issued and their permissions cannot be changed. Using this multi-signature method on the Bitshares network, we create more strict asset issuance that requires directorial consensus.
Share Structure
The share structure we have chosen follows a more traditional method used by most start ups. A majority of our initial shares are distributed between our founders & seed investors for the contributions they make to the development of the business. The rest of our shares are to be distributed to those who contribute to our crowd sale. Below is an overview of the percentages issued before & after the crowd sale before being available on the market.
Initial Shares Issued
100,000 THIRSTY Issued Assets have been created on the Bitshares network:
- 30% employees (30,000)
- 30% founder (30,000)
- 25% co-founder (25,000)
- 15% seed investors (15,000)
Employee Share Incentive
2000 THIRSTY Issued Assets are to be split among employees each week, excluding the founder and co-founder. This share incentive is set to expire following THIRSTY Crowd Sale (March 31st), at which point all staff will be paid a regular wage.
Crowd Sale Issuance
An additional 25% (25,000) THIRSTY Issued Assets are to be created and issued to investors at the end of our crowd sale (March 31st). The amount issued to each investor is decided upon the percentage of capital they contribute during the sale (% of 25,000,000 THIRSTY = % of total capital contribution).
Stock Splits
There are to be three stock splits before THIRSTY issued assets are released to the public. Each split is to occur every two months starting one month after the initial crowd sale issuance.
- April 30th: 125,000x 2 = 250,000
- July 30th: 250,000 x 2 = 500,000
- September 30th: 500,000 x 2 = 1,000,000
Initial Public Offering
All 1,000,000 assets created in the coming months are scheduled to become available to trade on the OpenLedger exchange come October 2017. Our main asset pair will be THIRSTY/BTC.
The initial share price will be determined by the post-money valuation: (Capital raised + net worth) ÷ 1,000,000 = Initial Share Price.
Future Asset Issuance
Future asset issuance, such as stock splits and buy backs, is to be decided by the board of directors to be appointed by the majority shareholders.
Capital Allocation
The funding raised during this crowd sale is to be delegated toward our company sectors. Each sector has been delegated a percentage appropriate to its immediate priority*.
Streams Application
30% of our capital is to be dedicated to our music streaming platform, built on the Steem blockchain, as this is our most innovative project in 2017. The development of this platform is crucial to the growth of our business as it provides a distribution network for our music label and others, and also opens up potential revenue streams for our business. The Streams application targets a wide demographic which will help us to adopt a large market audience quickly.
Thirsty Records
25% of our capital is to be dedicated to our music label, the world’s first global music label distributed on blockchain networks. Thirsty Records harnesses the untapped cryptocurrency market to distribute musicians, whilst generating revenue through the production services delivered. Thirsty Records will be based in each of our global headquarters, the first of which is based in Brisbane, Australia. Each studio will contain state-of-the-art production equipment and software in order to provide content creators with the most professional quality media.
Research & Development
15% of our capital is to be dedicated to research & development of new technologies. With the launch of our first streaming service, our next goal is to create multiple networking platforms for different types of media distribution, such as video, text, and games. Our research & development team will be responsible for growth into other market sectors.
Labour
12% of our capital is to be dedicated to our staffing and wages. Until our revenue streams are producing sustainable income, we will be paying our staff wages with 12% of the capital raised during our crowd sale. This also includes the salary of employees yet to join our team, and any excess funds not spent go back into our capital fund to be spread across our other sectors. Our staff are very important to our company’s success.
Legal & Licensing
5% of our capital is to be dedicated to the ongoing upkeep of our legal responsibilities as a registered company. This allows us to pay for legal consultancy and for us to pay for licenses.
Real Estate
5% of our capital raised will be dedicated to global expansion. The funds allocated to real estate allows us to base ourselves in different cities.
Marketing
5% of our capital is to be allocated to marketing. Marketing is a very important part of business, and as such, a marketing team will continue to advertise us through different outlets. Funds will be used to further market the Thirsty brand.
Merchandising
2% of our capital is to be allocated to merchandising. Merchandising is a small part of our business model and is only there to help market our brand. As such, a small amount of capital will be dedicated to merchandising.
*Capital contributions are subject to change as our projects develop
Crowd Sale
Time frame
Our crowd sale starts on March 1st and will continue until March 31st. This gives investors one month to get involved. After our crowd sale, all those who contributed capital will be able to see their asset amounts on our web page. The assets you've accumulate during & after the crowd sale will be issued to investors on the day before assets become available on public exchanges.
Investor registration
Investors will be able to register on our website - https://thirsty.online - and access their account. At the end of the crowd sale, their account dashboard will display the total amount of THIRSTY assets to be issued to them at a later date. At the time of each stock split, registered investors will receive double the amount they hold in their account.
Upon registration, investors will be required to enter their OpenLedger account details to receive their share. If you are interested in investing and do not have an OpenLedger account, you can register here: https://bitshares.openledger.info/
All assets issued will be frozen and non-transferable until the date we release our assets to the public for trading.
Purchases
To contribute to the crowd sale, you will be able to do so from your account on our website. As stated above, your account will need to be linked to your OpenLedger account. Contribution options will be available in different currencies, primarily with Bitcoin and Paypal. As discussed, the amount you receive at the end of the crowd sale will be determined by the percentage you contributed during the crowd sale.
Summary
The reason for our crowd sale is to give investors the opportunity to involve themselves in an innovative business concept that covers all aspects of media distribution. Our philosophy is to provide fair & rewarding opportunities for users and investors on our platforms. Our team is 100% committed to seeing the Thirsty Entertainment company succeed, both for ourselves and for those who use our services.
Sign up on to our mailing list on https://thirsty.online to receive direct updates on access to our crowd sale.
For other inquiries, email us at contact@thirsty.online
Interested in joining the team?
We are currently looking for front & back end developers to join our team.
For more information, forward your expression of interest to: contact@thirsty.online
Follow our Social Media feeds for future updates
Website: https://thirsty.online
Facebook: https://www.facebook.com/thirstyofficial
Twitter: https://twitter.com/ThirstyOfficial
Medium: https://medium.com/@contact_35388
Reddit: https://www.reddit.com/user/thirstyentertainment/
Instagram: @thirstyentertainment or https://www.instagram.com/thirstyentertainment
Linked In: https://www.linkedin.com/in/thirsty-entertainment-69ab1b137/
Google +: https://plus.google.com/u/0/110699929321675267115
Youtube: https://www.youtube.com/channel/UCbx3Spjr8TemnVab0Qpdo7g
Pinterest: https://au.pinterest.com/thirstyentertai/
Streams - A Music Streaming Service for the Steem Blockchain: https://streams.global
Thirsty Entertainment is a registered and trademarked Australian Business. The content and images shared herein are copyright 2017 Thirsty®. All rights reserved. ABN: 37440459113