It’s been an interesting couple years for SNGJ.
In early 2018, SNGJ tokens were sold to raise ETH. Unfortunately, due to circumstances outside our control, the raise coincided with the most dramatic crash in the crypto markets in history, a crash we are still feeling the effects of to this day. This crash occurred in the final days of SNGJ’s token sale, rapidly diminishing the value of the ETH raised and putting the future of the project in jeopardy.
Fortunately, SingularDTV stepped in and helped us weather the Crypto Winter. Thanks to their assistance, we’ve learned a lot since our token sale; we’ve learned a lot about blockchain, about entertainment, and about building and launching products. With a little help and a lot of persistence, we’ve survived Crypto Winter, and now have the opportunity for a new beginning.
In recognition of this turning point, this new chapter for SNGJ is marked by a name change. Those of you who have been following the project since 2018 may remember that we launched as “Singular Japan,” but henceforth the project will be referred to as Singular J. The rebrand to Singular J signifies a few things.
Firstly, we are broadening the scope of the project beyond the Japanese market. While we still hope that Japanese content creators will join us, digital art is increasingly erasing borders, and Singular J aims to empower content creators on a global scale.
Secondly, the vision for the project has evolved. In 2018, Singular Japan was pitched as a content fund, an entity that would create film, television, and music content. The SNGJ token would act as a utility token, granting holders access to the entertainment produced by the fund. Since then, we have discovered that while owning one’s own content is important, it’s even more important to ensure everyone owns their own content, something we can only do as a platform, not as a single content creator. Only by building our own platform can we ensure that content creators have the tools and support they need to fairly and transparently monetize their creations. The SNGJ token can still grant users access to content, but by making it the focal point of the Singular J ecosystem, we believe we can create even greater token utility for content creators and fans alike. We’ll be discussing the vision for the Singular J platform in much greater detail in the coming days.
The third element is not so much a change as it is the next phase in the ongoing relationship between Singular J and SingularDTV. Singular J is pleased to announce that its platform will be the first content storefront built on SingularDTV’s SNGLS Media Distribution Protocol, a decentralized, censorship-resistant content distribution protocol. This step represents an even closer partnership between SingularDTV and Singular J moving forward. Singular J looks forward to fully exploring and integrating SingularDTV’s technology in order to deliver on its mission. More specifically, this means building on top of the SNGLS Media Distribution Protocol, as well as utilizing parts of Breaker, SingularDTV’s artist-driven content-on-demand app.
Singular J fully acknowledges that these developments represent a fairly radical evolution in the project. While we believe that all the changes are ultimately for the best (and that change itself is a necessity for innovation), we also feel a moral obligation to do right by our current SNGJ token holders. As such we are in the final phases of a refund, in which our current token holders who no longer feel a sense of connection to the project can opt for a partial refund, less the expenses incurred by Singular J to date. We have no legal obligation to offer this refund; we are offering the refund because we want to, not because we have to. The refund period opened on April 14, 2020, and it will conclude on May 19, 2020. Once the refund is complete, Singular Japan will officially become Singular J, and we can get back to building in earnest. (Until then, please pardon the appearance over at www.singularj.com. Rest assured the rebrand is coming soon.)
“Building in earnest” means no more ICOs, token sales, or anything like that. Those are all in the past. It means continuing to build technology. It also means that we need to begin building community by onboarding token holders and platform users.
To that end, we are pleased to announce that SNGJ will now be available on two centralized exchanges, ZG.com and LA Token. Starting today, you can deposit SNGJ tokens on these exchanges, and you will be able to purchase SNGJ tokens starting on May 21. Our hope is that, by making the token easily accessible across a variety of exchanges, prospective participants in the Singular J ecosystem can easily onboard themselves. We invite you to read the revised white paper in order to familiarize yourself with the Singular J platform and determine for yourself whether the SNGJ token might represent the kind of utility you look forward to making use of.
While today’s announcement is merely an introduction of sorts, we look forward to discussing in detail all things SNGJ in the not-so-distant future. If you can’t wait to talk to us about things like the future of sustainable entertainment, the blockchain revolution for the entertainment industry, or the importance of censorship-resistance in today’s media landscape, feel free to join us today on SingularDTV’s Discord or the Singular J-specific Telegram.
We’ll have much more good news to come. This is only the (new) beginning.