DePIN Media Network PTK Starts Up on Coinbase’s Base to Bring Transparency to Making Movies

PKT is a decentralized media community on Base, co-founded by the producer of the blockbuster Oblivion.

PKT desires to be a decentralized model of Roku or Apple TV.

PKT, a decentralized media community constructed by three brothers pissed off with the Hollywood movie trade, will likely be one of many first DePIN tasks to launch on Base, Coinbase’s layer-2 blockchain constructed on Ethereum.

Jesse Berger, a founding member of the PKT neighborhood and the producer of the Hollywood blockbuster Oblivion and different multimillion-dollar movie productions, stated he was searching for a solution to convey extra transparency to movie manufacturing.

Though a lot of his movies have been vastly profitable and considered by hundreds of thousands of individuals world wide, he had no transparency in regards to the income stream and the way a lot cash he was owed as a producer, he instructed CoinDesk in an interview. That is when he realized that blockchain may very well be the answer.

“I fell in love with blockchain primarily based on an immutable ledger so you might see each transaction transparently and the concept of ​​good contracts to make cash programmatically,” he stated.

The community, which goals to be a decentralized model of Roku or Apple TV, began in 2019 by itself proof-of-work, layer-1 blockchain. The primary streaming platform, BIA, a hub for TV and films, will likely be launched later this 12 months.

“I believe the lacking piece of anybody who has tried to assault the movie trade to resolve that drawback has all the time been the aligned incentives of the viewers, the place they’re a part of this image, and it is not simply us pay for them,” he stated. Josh Berger, one other member of the founding neighborhood.

Jesse Berger additionally stated it is crucial that PKT is accessible to the common retail client who is aware of little – and would not need to know – about crypto. Phrases that could be helpful in bringing the venture to the eye of crypto trade stakeholders will glaze over eyes elsewhere.

“If we’re speaking in regards to the phrase ‘DePIN’ for the overall inhabitants, I believe we have misplaced,” he stated. “That terminology is actually related inside the understanding of the cryptosphere and the way in which we have to talk. with the crypto folks, but when we need to win as a platform, in actuality we won’t discuss that. That will not actually be related to the common client. When you discuss the way it works, you lose your viewers.”

One factor PKT’s crypto stakeholders will care about is the choice to make use of Base, as PKT will likely be one of many first DePIN tasks on the platform.

This transfer is for a number of causes, together with the introduction of a stake-to-earn protocol that enables customers to earn day by day and long-term rewards and returns.

“We have all the time been centered on making this very straightforward to make use of and adoptable and we wished to be type of an enormous fish in a small pond at Base, and I actually imagine in Coinbase’s mission in what they’re attempting to attain as a platform and reducing the barrier to entry to take part,” stated Jesse Berger.

Collectively, DePIN has a market capitalization of $18.3 billion, in keeping with CoinGecko knowledge, with approx Of that, $5.5 billion is on Solana. Base has lower than $5 million.

One other advantage of utilizing Base, the crew stated in a launch, is the know-how improve that introduces good contracts and Web3 options. These simplify scaling and eradicate the necessity to keep an energy-intensive proof-of-work blockchain.

PKT will distribute a 1:1 airdrop of its tokens to the bottom in three phases: throughout Wednesday’s launch, February 21, 2025, and August 21, 2025.