This $575 Million ICO With Royal Backing Is So Crazy, It Might Be Real

So much so it seems that a startup looking to release movies - early offerings include a biopic about the founder of the car company and his feud with the founder of Ferrari - has raised a whopping $575 million off its private sale of TTU crypto tokens from investors including BlockTower Capital and even a prince.

On top of creating its own video content, TaTaTu plans on building a token-powered video-on-demand platform to compete with Netflix.

"The response is further validation that our model of acquiring and producing our own content mixed with rewarding users with TTU tokens to watch that content on the platform will benefit everyone."

Perhaps one of the most notable breaks from typical industry practice is that the white paper does not indicate how many tokens will be created for TaTaTu or whether more will be created over time.

The way TaTaTu plans on getting crypto into the hands of everyday users is by sharing its revenue with content viewers and creators.

The basic idea behind TaTaTu is simple on its face: viewers of the content distributed through the service will share in the ad-revenue earned by the service, as will creators who provide their work.

According to the white paper, revenue from advertisers will be paid in the native crypto token and all rewards for the viewing of content will be paid out in TTU as well, which it calls advertising video-on-demand.

Later in the document is where the business starts to blur since it explains that AdMob, a Google-housed mobile advertising company, will be the "Preferred monetization solution" and "Pay TaTaTu in fiat."

The white paper goes on stating that regardless, the funds that come in from third-party ad providers will be converted into the platform's tokens - and those will then be shared with viewers and content providers over the next few weeks.

Many ICO issuers have decided to send all revenue to users, with the company making money off the growing value of crypto tokens held in reserve.