LOS ANGELES, CA--(Marketwired - Jun 29, 2016) - WRIT Media Group, Inc. (OTCQB: WRIT) is pleased to announce plans to develop Pelecoin's Blockchain technology into innovative products and applications that can be used for video game loyalty rewards, crowd funding, currency trading, and secure content distribution.
WRIT Media Group's Pelecoin digital currency, acquired through its recent Pandora Venture Capital transaction, is a unique cryptocurrency platform that provides secure digital currency products and services -- including wallets, exchanges, loyalty rewards and merchant integration -- to consumers and businesses around the globe. The open and distributed nature of the "record keeping" in Pelecoin transactions ensures that evidence of ownership is reliable and that the reporting of transactions is verifiable and secure. The Company intends to develop this technology into the following products and applications:
Currency & Derivative Trading
WRIT Media Group plans to organize trade in derivative instruments, based on its existing Pelecoin technology, Bitcoin, and other digital currencies. The Company intends to combine the marketing advantages of Pelecoin with popular cryptocurrencies such as Bitcoin, by developing its exchange platform technologies to support trade in digital currencies. The platform plans to offer a full system to run a digital currency exchanges, including a solution for automatic market-making on exchange using third-party exchanges. When launched, the platform will work with Pelecoin, Bitcoin and other digital currency exchanges around the world.
Video Game Loyalty Rewards
WRIT Media Group intends to develop and deliver loyalty solutions built on the combination of Pelecoin's Blockchain technology and the Company's Amiga Games brand. Gamers can earn various points by playing Amiga Games or participating in other "value" activities. The earned points consolidate into AmigaRewards or other branded rewards, which will be tradable Blockchain-based loyalty tokens. The Company also plans to develop a suite of solutions which will allow brands to create and run rewards programs, as well as a marketplace to shop and redeem those reward points.
Crowdfunding and peer-to-peer lending have allowed retail investors to access asset classes and investment opportunities previously unavailable for them. The Company intends to develop a Pelecoin-based system where small amounts of equity can be attained without significant amounts of red tape, and where efficient record keeping of a high volume of shareholders and trades provides significant value to investors and companies alike.
The Company also plans to partner with leading content creators, owners, distributors and other creative institutions to enable artists and content owners to protect their works from copyright infringement and illicit uses by developing tracking software which uses its proprietary Pelecoin Blockchain technology.
About Writ Media Group
WRIT Media Group, Inc. (OTCQB: WRIT) is a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions.
The Company's portfolio of wholly owned businesses includes:
- Front Row Networks, a content creation company which produces, acquires and distributes live event programming for worldwide digital broadcast into digitally enabled movie theaters and online streaming;
- Amiga Games, a software company resurrecting the Amiga brand by publishing retro video games on smartphones, tablets and consoles;
- Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands on today's smartphones, tablets and consoles; and
- Pandora Venture Capital, a software developer with a focus on digital currency technologies, including; a cryptocurrency trading platform, a new generation of cryptocurrency, and Blockchain technology solutions.
Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2015. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Pandora Venture Capital Corp., Pelecoin and its related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners.