If you don't know, SingularDTV is a project built on the Ethereum blockchain. They are working on decentralizing the entertainment industry and their main distribution platform "Ethervision" will be released later this year.
If you are a musician/artist/filmmaker, you can use their dApp "Tokit" to tokenize your intellectual property. Gramatik was the first major musician to do this via the blockchain and he'll eventually release content through Ethervision.
Nowadays if you want to make a film, there are a lot of hoops you have to jump through. You essentially lose control of the content you want to produce because the studios are a huge centralized power.
SingularDTV has also built a decentralized exchange called "SingularX". It's still a beta release but they are working on driving traffic to the exchange. One way they will be doing this is the upcoming airdrop of SingularX tokens (SNGX):
"Today, we are announcing that SingularDTV will airdrop its 5,000,000 SNGX into the SNGLS token in the coming weeks."
"A snapshot of all SNGLS addresses will occur in May. The exact date and time of this snapshot is to be announced. In order to receive your SNGX tokens, move your SNGLS off all exchanges and into designated wallets before this snapshot occurs. We recommend storing your SNGLS in the SingularDTV light wallet or the tokit.io wallet."
Like it says above, they'll be airdropping a total of 5 million tokens. There are 10 million in existence. So what are SNGLS tokens and what are SNGX tokens? Revenue collected by SingularDTV dApps are planned to be pushed into the SNGLS tokens. SNGX tokens are similar but the transaction fees on the exchange are rewarded to the holder.
So how many SNGX tokens can you receive?
SNGX => SNGLS
**5,000,000 SNGX into 1,000,000,000 SNGLS = 0.005 SNGX into 1 SNGLS
Therefore, if you have 10,000 SNGLS, you will receive 50 SNGX.**
According to the Discord channel, it's likely the snapshot will be taking place this upcoming week. You'll need to hold them in either the SingularDTV Light Wallet or a Tokit.io wallet. With that said, they've always stated that if you hold your private keys in a wallet that supports ERC20 tokens, you should be good.
Here is the full article.
