Andrea Iervolino, a Hollywood film producer and co-founder and CEO of AMBI Media Group – an American motion picture conglomerate, is launching a blockchain-powered social entertainment platform.

Dubbed “TaTaTu”, the new platform incentivizes content consumption – users are rewarded digital tokens to watch movies, television episodes and other forms of content, as well as additional rewards from their friends’ viewing. The token will reward users and allow advertisers to pay for advertising on the platform.

TaTaTu combines the features of Video on Demand (VOD) platforms and social networks with a system that rewards users for watching videos through the blockchain. Users can invite their friends via their social media (Facebook, Instagram, etc) to join the platform, watch and create videos that can be shared with friends.

“Social networks and entertainment platforms are making huge profit by gathering data from their users and selling to other corporations without rewarding their users. TaTaTu will finally give its users the possibility to be rewarded for their social daily entertainment activity,” said Iervolino adding that the platform seeks to reach one billion subscribers worldwide in six years.

For content owners, the platform will address privacy concerns – rights holders will monetize every their content based on the effective consumption and real views, with transparent and real-time financial reporting with their IP recorded on the blockchain.

For advertisers, TaTaTu will help them target specific audiences by placing their ads on a reliable platform with premium content. Brands get access to very detailed information about their audience. All user profiles are verified and all the views and engagement metrics are real, the release said.

“The TaTaTu vision is to offer not only movies and videos, but also music, sports, and games, to become a 360-degree entertainment platform that allows both consumers and content creators to monetize their content, and content viewing, transparently,” the release added.