When comparing a Las Vegas Casino to the Music Industry (and/or the Arts and Entertainment industry as a whole), we notice distinct similarities, beyond the multi-billion dollar annual revenues. Kindred to a lottery, and just like a casino in the city of Las Vegas, NV, (for the purpose of this piece) the Music Industry deploys new modes of volatility that preach to the nature of high “Risk” and equally high “Reward”. The internet gave us the ability to become superstars overnight, severely disrupting both the traditional path to entry, and the artist to fan ratio. The key gatekeepers in distinct entertainment markets that “once were”, have either vanished from their state of supremacy, or evolved through new methods of impact and authority influenced by technical advance. Music Industry data currently concludes that U.S. listeners are spending more money on music than ever before. Total music revenues include the likes and mix of:
- On-Demand Sales
- Physical Sales
- Radio Play
- Live Events
- Advertising/Branded Partnerships
and have risen to about $43.7 Billion a year. Yet, of that portion, the artists (whom are at the core of that financial figure) will only take home roughly (12%). The instability and uncertainty around the act (and profession) of independent artistry is as transparent as ever, begging the concept of “Social Capital” to become more relevant by the hour. The concept of professional, friend, follower, and/or fan-based:
has slowly evolved into a crowd sourced system of “Social Support”. Thankfully, this form of digital camaraderie is “finally” translating into real monetization models and earning mechanisms through alternative support/financial systems that are “finally” achieving proof of validation. For the independent artist or brand, it’s apparent that the “little things” have the increasing ability to make a profound impact, similar to a tip a casino dealer may receive after dealing his/her table. Tips are actually referred to as the “grease” by which lubricates the gears of the “Las Vegas Casino Industry”. Research suggests that these traditional financial gestures account for roughly 80%-90% of a Casino Dealer’s income, and seasoned gamblers know that tipping, or “Toking” as it’s been called, is a great way to say thank you, and prospectively ensure a stronger relationship. The term “Tokes” became an interest to us early on, because the gesture embodies the chief intent behind our network and forthcoming ERC Token. “Tokes” (short for “Tokens of Appreciation” and/or a reference to “Tips”) are important because:
- Casino Dealers are Members of a Critical Community and Should Never be Overlooked, Yet Valued in Their Own Right; and “Tokes” Speak to this Sentiment.
- Every Now and Again, a “Toke” Can Equal a Ridiculous Sum of Money, at the Conclusion of a Game that is Handled by the Casino Dealer.
- The Toke Can be Shared (i.e Split Evenly) Across Wide Spectrums of Selective Financial/Social Positions; and a Collaborative Action of this Manner, Can Increase the Chances of a “High Reward”, Whilst Igniting the “Selective” Presence of Economic Equilibrium and “Low Risk”.
Like musicians today, whom face a multi-billion dollar 2020 DIY Market, and strive to achieve support from “likes” to “listens” (and everything in between) across digital mayhem, Casino Dealers, whom equally hustle to acquire tips, also play on a field by which outcomes vary and severe competition is the norm. Kindred to our blueprints, “Toke” Models must be controlled and calculated (in our opinion) per the intent of seeking sustainable growth and stability vs. discrepancy and volatility. Here is an example of a Toke Model for shared tips by a “Casino Dealer Collective”. Please Note: Dealers operate systematically, typically dealing (25) to (30) hands per hour, and are rotated accordingly to a different table, every (30) minutes. Dealers work across a spectrum of tables similar to an economic class system ranging from “High” to “Low” with players at:
- “Low-Limit” Tables-High Frequency of Customers/Adequate Probability of Achieving a Toke/ Average Tokes (Range) = $1.00-$10.00
- “Mid-Limit” Tables-Sufficient Frequency of Customers/High Probability of Achieving a Toke/ Average Tokes (Range) = $15.00-$50.00
- “High-Limit” Tables-Particular Frequency of Customers/Selective Probability of Achieving a Toke/Average Tokes (Range) = $50.00-$50,000.00+
Per the Casinos, and the dealers that work within their guided infrastructure, Tokes are shared differently amongst different people, table limits, cohorts, and properties. While some casino dealers split tokes by shift, some casinos might order dealers to split by section. Here is the typical (example) process for collection and payout:
- Tokes are Collected by Dealers.
- Tokes are then to be “Dropped” Once a Day, and Relayed to the Security Department to Come By, Replace the Used Toke Boxes with Empty Ones, and Return Again on Rotation to Repeat the Action.
- Tokes are Counted by a Group of Dealers on Shift, and the Total is Documented Accordingly.
- At the end of each Pay Period, the Tokes are All Added together, and Divided Evenly Amongst All of the Hours Worked by All of the Dealers and the Total Amount Collected.*
- The “House” or Casino Initiates Their “Cut”, or Payment, Accordingly After the Act of Shared Distribution is Concluded.
*Please Note: Daily pools can also serve as a methodology to keep track of Tokes on a (24) hour basis, and pay out the shares that were collected on the specific days and hours worked vs. an entire pay period. Just like the acquisition(s) of online social support, the deployment and collection of tokes and toke models can drastically vary across limits, casinos, dealers, and outcomes. Yet, with a “Toke”, and its procedures in play, what remains stable, is:
- The Ability to Relay a Simple Financial Gesture into a Powerful Earning Model/Component.
- The Rotational Consistency and Regulated Terms/Conditions Set Forth by the House and/or Dealers in Participation.
This common practice is growing in the world of Las Vegas casino dealing, and embodies the nature of common good and financial profit that lies at the center of our ERC Token and business model(s) in motion since 2012. We believe in the strength of sharing, the enhancement of equality, and the ability to remove some of the risk behind the profession of independent artistry. Sharing models (social and economic), using the “Toke” for example, have proven to:
- Discourage Inappropriate Relationships Between Dealers and Players.
- (Assumed To) Motivate all Dealers to Create a Generally Friendly Atmosphere, Because all of the Dealers Benefit when Players “Toke” More.
- Erase All of the Imbalances Across the Spectrum from “High” to “Low” Limits and Tables.
Shadowbox will always move in the “shared” direction, and now falls under certain classifications that state the likes of “Commodity Money”, “Content Backed Securities”, “Socially Backed Finance”, “Utilities”, “Social Securities, and Exchanges”, and/or Social Banking Solutions). Our shared marketplace and tokenized asset will automatically reward its holders and contributors dividends and systematic payments (individual and shared) in Ethereum (ETH) using Smart Contracts. Moving to the Blockchain, we now behold the regulated ability to manipulate digital assets that may legally represent the likes of financial instruments, custom currencies, decentralized exchanges, and financial derivatives. Through the creation of this Token, our mission is to:
- Deliver a Spirit of Social Awareness that Compels to Positive Action
- Capture New Value While Restoring Regulation
- Assist in Sustaining Creative Markets
- Explore the Laws and Token-Economics Behind Social/Content Backed Securities and Virtual Assets
Shadowbox remains a cohesive community and creative network launching into Beta [V3]. With use of Blockchain Technology and alternative financial systems (i.e. Cryptocurrency), we are even more focused on re-revolutionizing and stabilizing select markets in the Arts and Entertainment Industry. Moving forward (building out as a decentralized platform accompanied by its own virtual token system), Shadowbox is focusing on:
- The Development of Beta [V3]
- Delegating Ambassadors
- Methodologies Behind Token Distribution
- Adoption by Both Validators and Companies
- Capturing a Significant Portion of the Existing Blockchain Market
- Working Diligently with the SEC and IRS to Establish the Regulatory Protocols, Procedures, and Policies that Accompany the Traditional Means of:
with our SHBOX ERC Token preparing for initial offering and exchange.
TOKE (N) – ETH
We built Shadowbox to assist artists, whom are now in charge of their own ecosystem. As we fuse our initiatives into a crypto based system using Ethereum and Blockchain, not only can we still facilitate the action of shared earnings, we can explore the use of exotic (token based) derivatives, and dig into the evolution of financial transparency behind the action(s) of social:
In order to generate new asset classes and foster the act of “Crowd Capitalizing”, we remain fixated on leveraging content as a commodity, audience as a metric, and incentive as a scale, to initiate creative exclusivity and financial well being. Ethereum derives from its ability to bring newfound opportunities to spread equality and transparency, giving creative innovators (contributing to our network), the ability to work, earn, and share profits evenly across social classes. through a set of technical, ethical, and commercial standards, the Shadowbox ecosystem can enable an entirely new marketplace for music, media, and merchandise to flourish dramatically.