Script Network

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Discover Script Network's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Script Network?

Script Network (SCPT) is a layer 1 open-source live TV platform, protocol, and storage network. It offers a holistic ecosystem for decentralized entertainment, featuring a watch-to-earn live TV platform, decentralized video storage, and gamified rewards. The platform aims to revolutionize video advertising in the crypto industry, providing a seamless ecosystem with multiple revenue streams.

How is Script Network used?

Script Network (SCPT) is a governance token used in various aspects of the Script Network ecosystem. Here are some key ways it is utilized:

  1. Governance: SCPT is the governance token for the Script Network, allowing holders to participate in decision-making processes and shape the future of the platform.

  2. Watch-to-Earn: Users can earn SCPT rewards by watching TV online through Script TV, which is the first watch-to-earn live TV platform. This rewards system is enhanced by unique GameFi elements, such as upgrading and boosting ScriptGlasses (NFTs) to yield more tokens and benefits.

  3. Decentralized Video Storage: SCPT is used in the decentralized video storage solution, which aims to lower costs by over 80% for Web2 companies.

  1. Revenue Streams: SCPT is involved in several revenue streams, including video on-platform advertising, marketplace trading, and decentralized storage fees.

  2. Staking: SCPT can be staked to earn passive income, with an APY of 55.0% as of June 2024.

  3. Script Blockchain: SCPT is part of the Script Blockchain ecosystem, which offers grants and non-financial rewards to filmmakers, studios, and content-first companies building dApps and video-based products on the chain.

  1. Script Advertising: SCPT is used in the Script Advertising layer, allowing crypto and blockchain companies to advertise on the platform, fully payable in tokens.

These uses highlight the diverse applications of SCPT within the Script Network ecosystem, focusing on governance, rewards, and revenue generation.

How do I store Script Network?

To store Script Network (SCPT) tokens securely, it is recommended to use "Cold Wallets" which are totally offline. There are two types of cold wallets:

  1. Paper Wallet: This is formed by generating a public and private key offline and printing them on a piece of paper. The keys are printed in the form of QR codes, which can be scanned for future transactions.

  2. Hardware Cold Wallet: This is a physical device where you can store your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person possessing the USB drive can access the assets. Most people prefer hardware cold wallets, especially for storing large numbers of coins or tokens.

How to buy Script Network?

To buy Script Network (SCPT) tokens, follow these steps:

  1. Choose a Reliable Exchange: Find a reliable centralized exchange where SCPT is listed. You can refer to Coinmarketcap to find the list of exchanges that support SCPT.

  2. Create an Account: Sign up for an account on the chosen exchange. For example, on MEXC, you need to open an account and pass KYC verification.

  3. Fund Your Account: Deposit funds into your exchange account using methods such as credit cards, bank transfers, or other cryptocurrencies. On KuCoin, you need to add a payment method after verifying your account.

  1. Buy SCPT: Navigate to the SCPT trading page and select the amount you want to purchase. You can buy SCPT directly with fiat currencies or use other cryptocurrencies like USDT as an intermediate step.

  2. Store Your Tokens: Once you have purchased SCPT, you can store them in your exchange wallet or transfer them to a cold wallet for long-term security.

  3. Optional: Use Decentralized Exchanges (DEX): If SCPT is not listed on a centralized exchange, you can use a DEX like Pancake Swap. Connect your wallet to the DEX, and trade your base currency (like BNB) for SCPT.

Remember to carefully consider your investment experience, financial situation, and risk tolerance before investing in SCPT, as cryptocurrency prices are subject to high market risk and volatility.

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History of Script Network

Script Network (SCPT) is a cryptocurrency that has been actively traded since its initial token offerings. The project is centered around a decentralized video delivery network, offering blockchain-enabled solutions for the traditional TV and film industry. Script TV, a key component of the network, is a leading streaming service in web3 with over 2 million minutes watched weekly, featuring live channels and diverse production content.

Initial Offerings and Funding

Script Network conducted several initial token offerings, including IDOs (Initial DEX Offerings) and private sales, between November and December 2023. These offerings raised a total of $1.46 million, with prices ranging from $0.00667 to $0.0094 per token. The project also saw strategic and seed investments, with notable returns on investment (ROI) of up to 9x and 8.96x, respectively.

Market Performance

Script Network's market performance has been volatile. The token's price has fluctuated significantly, with a notable decrease of 34.20% between April 3, 2024, and May 2, 2024. The traded volume also dropped by 43.44% during the same period. The market capitalization of Script Network has decreased by 17.85% over a month, from $9,574,611 to $7,865,103.

Current Status

As of June 2024, Script Network's market capitalization stands at around $5.39 million, with a circulating supply of 323.01 million tokens. The token currently ranks 1748 among all known cryptocurrency assets based on relative market capitalization. The project's dual-token system includes SCPT for governance and SPAY for on-chain transactions.

Future Prospects

Script Network is expected to continue its growth, with the genesis block scheduled to be mined in Q2 2024. The project's focus on the TV and film industry, combined with its decentralized approach, positions it for potential growth in the web3 space.

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How Script Network works

Script Network (SCPT) is a decentralized ecosystem built on a multi-layered blockchain architecture. It operates on two main layers: Validator and Lightning. Validator Nodes propose and produce new blocks, while Lightning Nodes verify and confirm transactions, ensuring the network's integrity and reducing the risk of false alarms.

Script TV and Watch-to-Earn

Script TV is a key product within the ecosystem, allowing users to earn rewards on and off-chain by upgrading ScriptGlasses (NFTs). These NFTs are essential for participation in the Script TV economy, which rewards users for watching content. Users can enhance their experience and earn more rewards through unique GameFi elements on and off-chain.

Script Marketplace and Enterprise

The Script Marketplace serves as a hub for buying, selling, and trading ScriptGlasses. Script Enterprise offers a solution for companies to reduce storage, transfer, and transcoding fees by over 70%. This is achieved through a decentralized video storage solution, which lowers costs for Web2 companies.

Script Blockchain and Advertising

Script Blockchain provides both financial and non-financial incentives to content creators and companies to build dApps and video-based products on the blockchain. Script Ad allows companies to have control over where to play their ads, providing a new outlet for video advertising in the crypto space. Non-skippable ads run periodically on the platform, generating revenue daily.

Governance and Monetization

The Script Token (SCPT) is the governance token of Script Network. Users need to stake SCPT to take part in the network. Validator Nodes require a stake of at least 5,000,000 SCPT tokens, while Lightning Nodes require a minimum of 10,000 SCPT tokens. Users earn approximately 5% of the total stake amount as a reward in a year. The platform employs several monetization strategies, including video advertising, marketplace trading, and decentralized storage fees.

Trading and Availability

Script Network (SCPT) is available for trading on various exchanges, including Kucoin, Bitget, MEXC, and BingX. Users can trade SCPT on these platforms, taking advantage of the unique opportunities it presents.

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Script Network's strengths

The token Script Network (SCPT) has several strengths that contribute to its value and potential for growth.

Innovative Features and Partnerships

Script Network's commitment to innovation and user engagement is a significant strength. The integration of artificial intelligence enhances the viewing experience by providing personalized recommendations and interactive experiences tailored to individual preferences. Additionally, the partnership with NVIDIA through the Inception Program underscores Script Network's dedication to pushing technological boundaries, solidifying its position as a trailblazer in the industry.

Decentralized Infrastructure and Governance

Script Network's adoption of decentralized physical infrastructure networks (DePINs) is another key strength. This approach fosters greater resilience, transparency, and inclusivity within the network ecosystem, empowering users to actively participate in network governance and resource allocation. This decentralized model drives community-driven growth and innovation.

Ecosystem and Rewards

Script Network boasts a vibrant ecosystem supported by a thriving community of users and developers. The platform offers a wide array of channels featuring diverse production content, and users have the opportunity to earn rewards both on and off-chain simply by engaging with the platform, whether through watching TV or participating as network nodes. This ecosystem encourages user participation and fosters a sense of community.

Governance and Monetization

The Script Token (SCPT) plays a crucial role in the governance and operations of Script Network. Users need to stake SCPT to take part in the network, and Validator Nodes require a significant stake of SCPT tokens. This governance model ensures that users have a vested interest in the network's success and are incentivized to contribute to its growth. Additionally, Script Network employs several monetization strategies, including non-skippable ads, marketplace trading, and enterprise solutions, ensuring sustainability and revenue generation.

Dual Token Structure

Script Network features a dual token structure, with SCPT serving as the governance token and another token, SPAY, used for transactions on-chain. This structure allows for clear separation of governance and transactional functions, enhancing the overall efficiency and organization of the network.

Community and User Engagement

Script Network's focus on user engagement and community building is a significant strength. The platform offers various products and services that cater to different user needs, such as Script TV, Script Marketplace, and Script Enterprise. This diverse range of offerings fosters a strong sense of community and encourages users to participate actively in the network.

Overall, Script Network's innovative features, decentralized infrastructure, robust governance model, and commitment to user engagement make it a strong and promising project in the cryptocurrency space.

Script Network's risks

Script Network (SCPT) carries significant financial risks, primarily due to its involvement in the volatile cryptocurrency market. Trading SCPT and other financial instruments involves substantial risk and may not be suitable for all investors, particularly those with high leverage. Additionally, the platform's decentralized nature and reliance on blockchain technology can expose users to potential security risks and false alarms, which could impact the value of SCPT.

Furthermore, the platform's various products and services, such as Script TV and Script Marketplace, may be subject to market fluctuations and changes in user behavior, which could affect the overall financial performance of Script Network. The platform's reliance on non-skippable ads and the sale of ad slots also introduces risks related to advertising revenue and market competition.

Investors should exercise caution and thoroughly research the project before making any investment decisions, as the cryptocurrency market is known for its unpredictability and potential for significant losses.

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Did Script Network raise funds?

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Script Network’s team

  • Abiel Alazar: A key team member of Script Network, contributing to the development and growth of the project.
  • Akeem Ojuko: Another important team member, involved in shaping the vision and strategy of Script Network.
  • Roomani Bajaj: A core team member, responsible for various aspects of the project, including its decentralized video delivery network and token ecosystem.

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The fundamental analysis assistant for crypto value investors.

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