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Tron [TRX] powered BitTorrent Play, a new platform charged into the entertainment industry

Ajay Narayan

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Tron [TRX] powered BitTorrent Play, a new platform charged into the entertainment industry
Source: Unsplash

In a recent post on Twitter, BitTorrent introduced the BitTorrent Play application for iOS, the platform was created to allow its users to experience music and videos on their phone. It also gives recognition to a wide range of underground artists who are talented but not so famous. The app is available for download on all Apple devices including iPhone, iPad and iPod touch.

BitTorrent Play released on IOS | Source: Itunes

According to recent reports, BitTorrent has been pursuing its vision for the world’s largest decentralized ecosystem. They will operate from TRON’s San Francisco location for global market expansion. This division will provide a strong support for TRON’s global business development and partnerships.

After the acquisition, BitTorrent has been focussing on providing high-quality products to over 100 million users around the world. They ensure that joining the TRON network will further enhance BitTorrent and accelerate their mission of creating an Internet of options and not just mere rules.

BitTorrent also claims to share the advertising revenue in a fair and transparent way with the creative community. They will directly support those artists who are talented and are supported by its users. BitTorrent Play lets individuals browse and stream curated music and provide video recommendations from independent artists. It allows its users to stay updated on the latest tracks, artists, and videos which are trending within the BitTorrent community.

Dukepaw, a Twitter user commented:



“Yes yes yes!! Imagine getting paid to seed and having access on your phone for all digital content!! This is huge!”

Another Twitter user redpillblue, tweeted:

“Devices certified for BitTorrent play will play back internet content in the BitTorrent media profile from common storage formats such as DVD or Blu-ray discs, USB thumb drives and USB hard drives”

Moarether, a crypto enthusiast tweeted:

“Loving the new marketing. Really starting to stand out. So you guys plan to have your own tradeable token within the next 6 months to a year or so?”





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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.

Altcoins

FLiK case: Utility tokens take another hit in case allegedly involving Rapper TI, claims prominent lawyer

Priya

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Source: Unsplash

Stephen Palley, a prominent lawyer at Anderson Kill, spoke out about the FLiK token case via his official Twitter handle. Notably, unlike most tokens in the space, FLiK made headlines because of its celebrity backing.

Towards the end of last year, it was reported that the US Rapper Clifford Joseph Harris Jr., who goes by the stage name T.I. and T.I.P., was sued for $5 million over the alleged failure of the token promoted by him and his partner, Ray Felton. The rapper was being sued by a group of 25 individuals who claimed that that they invested around $1.3 million in the tokens.

Additionally, there were allegations that the rapper used the raised money to increase the token’s value, following which the duo sold their holdings after the coin crashed. Other well-renowned celebrities such as Kevin Hart and Mark Cuban were also reportedly associated with this project.

On the recent developments surrounding the case, Stephen Palley stated,



“Utility tokens” take another hit in case allegedly involving rapper TI. Court says FLiK ICO tokens = securities under Howey Test, for motion to dismiss purposes. That they offered some functionality ≠ relevant given buyers’ expect of profits solely from efforts of others. 1/4″

Source: Twitter

Source: Twitter

Source: Twitter
The lawyer further stated that,”use of funds” was already determined by the defendants, “per the FLiK token whitepaper.” He went on to state that there was a time problem, adding that Federal Law rules that “unregistered sale” of security tokens were supposed to be reported within 12 months after the violation.

The lawyer concluded by tweeting,

“ps — form was never going to be exalted over substance, so none of this is a huge surprise. Also, this is a ruling on Rule 12(b)(6) motion to dismiss so the Court takes the allegations as true for purposes of ruling. The merits still have to be litigated.”





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