After its conquest of Ethereum (ETH) and the Binance Smart Chain (BSC), the DeFi 1inch platform is getting involved in a lighter project. The founders of the 1inch Foundation have certainly understood the importance of developing in the cryptosphere, but also that of making themselves known to the “general public”.
An original partnership announcement
This Friday, September 3, DEX aggregation platform 1inch announced its partnership with the animated sitcom “Take My Muffin”. This is an animated series for adults that tells the story of a unicorn – a subject that is perfectly suited to 1inch’s protocol – who has become amnesiac and lives in a city similar to Silicon Valley.
This unicorn has the super power to create startups capable of generating millions of dollars. Thus, the whole range of topics related to the cryptosphere will be discussed: decentralized technologies, ICOs, investments, NFTs and many other topics.
Moreover, as the first series completely funded in cryptocurrencies, the initiative could be a huge publicity coup for the mentioned companies. According to the head of the Foundation’s communication, Sergey Maslennikov, the 1inch platform is expected to be integrated from the very beginning of the plot of “Take My Mufffin”.
Anton Bukov, co-founder of 1Inch Network said:
“A partnership like this is no surprise. ‘Take My Muffin’ was funded by the crypto community from the beginning. It is in fact the first ever cryptocurrency-funded animated series, while 1inch Network is one of the most promising and successful projects in the crypto space.”
This sponsorship is an opportunity for the 1inch platform, as it will allow it to establish its position as a major player in the DeFi space. Finally, the production plan calls for the realization of 3 seasons of 10 episodes each, on a format of about 20 minutes. In addition, the series is scheduled for release in the first half of 2022 and will be accessible on the streaming platform PREMIER, among others.
The production of the series, funded by NFTs
First and not surprisingly, “Take My Muffin” was funded primarily through the issuance of 350 NFTs (NFT TMM). Each NFT TMM holder will be entitled to 1,000 TMM governance tokens, resulting in a total of 275,000 governance tokens being distributed to NFT TMM purchasers, while the series creators will share 10,000 tokens and the supervisory board 5,000 tokens.
Thereafter, these governance tokens will grant their owners the following rights:
- Ownership of digital assets;
- Early access to elements of the series: for example, to footage before it is released;
- Participation in administrative decisions, except those that affect the value of the tokens
However, these governance tokens will not allow their beneficiaries to participate in the profits from the series or to dismember their ownership of the digital asset. The funding of “Take My Muffin” has been successful, and it is now only to be hoped that the tone of the series does not discredit the cryptosphere.
With the announcement of this partnership, the crypto fashion seems to be for animated series. Indeed, a few months earlier, it was FOX that announced its alliance with the director of the series “Rick and Morty” in order to make an animated series based on the blockchain and financed via NFTs.