ReelStar Raises $5+ Mn from ITO of ReelToken (REELT)

• Launches ReelStar, ReelToken & ReelPay logo
• ReelStar is the principal sponsor for the Delhi Bulls cricket team
• Also the title sponsor for Nora Fatehi and Guru Randhawa’s The Unity Tour in Australia

The ReelStar app, India’s most advanced Web3 integrated social media platform, announced that it has raised over USD 5 mn from the Initial Token Offering (ITO) of its utility token ReelToken (REELT). ReelToken is based on a multi-blockchain platform and architecture. It uses the Polygon (MATIC) and Binance Smart Chain (BSC) extensible to multiple blockchain networks.

ReelStar is an ‘everything app’ with integrated multiple social media, Web3 and payment functionalities. It features in-app tailor-made NFT creation features, Smart Contract customisation and an NFT Marketplace in an easy-to-use Android and/or iOS environment. The app provides creators (at any level) with the needed in-app tools and global access to consumers other without requiring large budgets or technical knowledge. This will democratise and level the playing field for User Generated Content (UGC). Best of all every creator can easily monetise their content!

Well-known industry leaders attended an event, ReelTalk, in Melbourne, Australia organised by Reel Star. Topics presented and discussed included Web3 integration with social media and its importance as a game changer for the media and entertainment industry especially relevant to India but with global application.

Former Indian cricketer, Irfan Pathan, was just one of the celebrities that graced the event where Navdeep & Nick the Co-Founders of ReelGroup were excited to reveal the logos of ReelStar, ReelToken & ReelPay. The philosophy behind the logo was revealed; the Reel Mark is formed using an alphabet R enclosed in square with 2 sharp edges and 2 rounded edges. The sharp edges stood for the group’s commitment to transparency & fairness while the rounded corners stood for politeness & adaptability to the future world. These all underpin each company’s user-centric values and approach.

Speaking, at the event, after a successful ITO, Co-Founder, Navdeep Sharma, said, “ReelStar aims to energise and reinvigorate the global media and entertainment industry. Our app will provide a global platform for creators thereby enabling a positive network of communities that inspire connection, collaboration and inclusion. Our UVP lies in our seamlessness and our easy-to-use platform that is accessible to almost everyone to create, collect, trade, and monetise an exciting array of NFTs and User Generated Content.”

India has the second-largest media and entertainment industry in the world. Indian revenue is estimated to be USD 30+ bn by 2023 with 900 mn users by 2025. ReelStar is already working closely with key industry players to give access for both fresh new talent and reinvigorate industry veterans to showcase their art to a global audience on the platform and be rewarded for doing so.

ReelStar will be the main sponsor of the Indian Sneaker Festival happening in December 2022, it is also the principal sponsor for the Delhi Bulls cricket team and is organizing the ReelStar cup to be hosted in the UAE. It is also the title sponsor for Nora Fatehi and Guru Randhawa’s The Unity Tour in Australia.

Following on from the ITO, Reel Star aims to raise an additional USD 31.275mn via staged releases to the public. It has established a capped supply of 15 bn REELTs, of which 5% will be in the first series of releases.

ReelStar’s board of advisors include global crypto leaders like Evan Luthra, Naveen Kapoor and Indian-American serial entrepreneur Ms. Nikita Sachdev, among others.

About ReelStar:

ReelStar is India’s latest Web3 integrated social media platform, created with a revolutionary vision to globally democratize access to Web3, metaverse and future technologies. The company’s goal is to bring the ‘everything app’ - a functional, easy to use, private and secure social media, video streaming, messaging and payments platform that is the bridge to the Web3 Metaverse beginning with our NFT minting and open NFT market place/platform. Indian, born and raised, serial entrepreneurs, Navdeep Sharma and Nick Bahl, now based in Australia are the co-founders of this breakthrough app. The entire Reel Star ecosystem is powered and enabled by the blockchain utility token, ReelToken (REELT).

Web3 Integrated Social Media Platform ReelStar Announces Initial Token Offering of ReelToken

ReelStar announces Initial Token Offering of ReelToken

• ReelStar app is India’s latest Web3 integrated social media platform
• Aims to democratise access for content creators, content consumers, and enhancers
• Board of advisors include global crypto leaders like Evan Luthra and Nikita Sachdev among others

The ReelStar app, India’s latest Web3 integrated social media platform, launches the ReelToken (REELT). In its Initial Token Offering (ITO), ReelStar aims to raise USD 4.98 mn via private sale and an additional USD 31.275mn via public sale. It has established a supply of 15 bn REELTs, of which 5% has been capped for the ITO and private sale.

The co-founders are, Indian born and raised, serial entrepreneurs, Navdeep Sharma and Nick Bahl. Currently based in Australia they have planned and designed the ReelStar app as an ‘everything app’ with multiple social media and payment functionalities integrated with an access ramp to the Web3 Metaverse/Omniverse. It will feature in-app NFT creation feature and an NFT Marketplace in an easy to use and familiar environment for both Android and iOS devices. NFTs made within the app can be integrated with extensive smart contract technology irrespective of the format or style of social media content. The social media functionality incorporates the best features of multiple existing apps in a single app. ReelStar app’s payment functionality works through the built-in digital wallet that can store fiat as well as digital assets, such as, coins and tokens including NFTs and provides access to the global utility of a Debit Card and fiat currency.

Creators and artists, irrespective of their medium, can use the ReelStar App to mint their own NFTs, build in smart contract functionality and monetise their creative efforts by selling or trading NFTs on the ReelStar NFT marketplace. By incorporating all this functionality into a smartphone app, almost anyone can enter the media and entertainment industry, and have access to a global market for their creative output. This democratises and levels the playing field, providing creators and consumers global access to each other without requiring a large studio or corporate middle-man.

The ReelToken which underpins the ReelStar app and ecosystem is based on a multi-blockchain platform and architecture. As a token, REELT is unique due to its integration with ReelStar’s proprietary technology stack which efficiently fuels the app’s ecosystem facilitating its seamless usage by both creators and consumers.

Navdeep Sharma, Co-Founder, Reel Star, said, “Our app will provide global opportunities as well as a Web3 passport to every creator and artist. Anyone with a flair for artistic creativity or a knack of entertaining an audience is warmly invited to join our platform. Through the platform they have access to a global audience, can cost-effectively scale their fan base and monetise their creative output. We offer a plethora of Web 2 and Web3 monetisation options, which can be customised to maximise both benefits and returns for consumers and creators. Creators can seek patronage as well as share returns and profits with their patrons through our platform with the utmost of transparency and efficiency through smart contract technology and controls present within the ReelToken ecosystem.”

ReelStar’s board of advisors include global crypto leaders like Evan Luthra and Indian-American serial entrepreneur Ms. Nikita Sachdev, among others.

Nick Bahl, Co-Founder, Reel Star, said, “The Indian media and entertainment industry is ready for significant growth between 2022 and 2025, a growth primarily delayed owing to the pandemic. Our app and ecosystem are designed from the ground up to be fully functional on a mobile platform and therefore almost completely remove the entry barriers to NFT, Web3 and Metaverse/Omniverse technologies. Anyone’s smart phone can now not only deliver social media content and NFTs but also a range of services to a global audience. The ReelToken will invigorate and fuel, at all levels, the next exciting phase of growth for the Indian M&E industry.”

About ReelStar:

ReelStar is India’s first multi-blockchain social media platform, created with a revolutionary vision to globally democratize access to Web3, metaverse and future technologies. The company’s goal is to bring the ‘everything app’ - a functional, easy to use, private and secure social media, video streaming, messaging and payments platform that is the bridge to the Web3 Metaverse beginning with our NFT minting and open NFT market place/platform. Indian, born and raised, serial entrepreneurs, Navdeep Sharma and Nick Bahl, now based in Australia are the co-founders of this breakthrough app. The entire Reel Star ecosystem is powered and enabled by the blockchain utility token, ReelToken (REELT).

Website link: www.reelcrypto.io