SingularDTV (SNGLS) is a blockchain platform that is designed to build the infrastructure for a decentralized entertainment industry. SNGLS is the native cryptocurrency for the SingularDTV blockchain, with each token representing a share in intellectual property (IP) of S-DTV: film, television and software projects.
It is split into two sections: the centrally organized distributed entity (CODE), which is a new form of structure for an organization, and the smart contract system, which is the decentralized component.
SNGLS, which was launched in October 2016, reached its all-time high of $0.435405 in January 2018. But the price action has been choppy since then and is down since its high from almost four years ago.
SingularDTV is built on the Ethereum blockchain and operates using a proof-of-stake system run by the CODE. That is similar to a decentralized autonomous organization (DAO) in that token holders are entitled to receive dividends from the profit generated by the platform. Unlike a DAO, however, SNGLS is centrally managed, meaning token holders don’t have voting rights or a say in the future development of the platform.
In October 2016, the SNGLS token officially launched via a public token sale that raised 580,000 ETH, which at the time was worth about $7.5 million.
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