M17 Entertainment and Mithril has announced the joint operation of the social mining product – Lit. M17 Entertainment will work with Mithril to build Lit into the top short video social platform globally, leveraging the content creation power of M17 Entertainment’s subsidiary, 17 Media and its 10,000+ top influencers and talents.
Lit is a leading social mining platform developed by Mithril. Content creators can post and share their daily lives, and mine Mithril Tokens as reward, while users can mine Mithril Tokens by interacting with the content created. Lit is built around Mithril’s core concept of “social mining”. M17 Entertainment believes social content creation, sharing and consumption is a behavior that permeates our society and that with social mining as its foundation, Lit will be the first cryptocurrency contact point for the masses.
17 Media was established in 2015, targeted at similar social sharing economics, via photos, video and video livestreaming. As of today, there are more than 33 million registered users on 17 Media’s platform, with over 200,000 hours of live interactive premium user generated content (“PUGC”) produced monthly, and multi-touch, cross-platform, interactive video content, developed by the company for consumption, on both mobile and TV channels - 17 Media is the leading live content generation company in Developed Asia.
M17 Entertainment has strong experience in the development and operations of social media products and through its success with 17 Media, it is seen as a leader in the operations of social sharing economies - Lit’s social mining business model is thus familiar to the company. The company will work alongside Mithril to invest into product development of, and content creation on, Lit. Lit’s current social mining behaviors will also be further optimized, and additional Mithril Token mining features will be introduced. Lit will also roll out new content creation formats including short video music synchronization posts, and short form text based posts.
About Lit beta app
The Lit beta app was officially launched in March, 2018. In just 3 months, the app has seen more than 100,000 downloads. Lit is Mithril’s strategic partner in social mining - 17 Media and Mithril will jointly operate and manage the Lit app.
For more details please visit https://lit.live/#/
About Mithril Token
In 2017, Mithril established the cryptocurrency “Mithril Token”, which in under a year has become a leading social cryptocurrency globally. Mithril Token is listed on the top global and domestic cryptoexchanges, and has multiple strategic business partners across sectors, working to build the world’s top social crypto network.
For more details please visit https://mith.io/