Depp’s Defamation Case Win Hides Huge Crypto Loss | Tatatu v Audius

2 min read

Johnny Depp Invest in Tatatu

The acrimonious defamation case brought by Johnny Depp against his ex-wife, Amber Heard, has been compulsory viewing for many around the world. We know the ins and outs of their relationship, and probably far too much information was shared, damaging the reputation of both of them, although Heard will probably find it harder to find work into the future.

What is less well known is the fact that Depp was a major investor in a blockchain video streaming service called TaTaTu ($TTU). Depp teamed up with TaTaTu, a cryptocurrency-centric social entertainment platform run by entrepreneur Andrea Iervolino in 2018. The pact called for the two sides to develop and produce film and digital content together.

TaTaTu is a web-based media application that rewards clients for viewing content and for their social media activities. Clients can watch video content, post their photos, videos, and more.

TaTaTu is listed on HitBTC and Liquid exchanges and clients can utilize the TTU Coins to purchase items through online businesses or win “must-have” items.

Touted as a decentralized competitor to Netflix, TaTaTu has never taken off and the price has plummeted from an all-time high of $0.8326 USD on 2nd September 2018 after the announcement with Depp. It is now sitting at a practically worthless $0.0019 USD.

According to the official announcement, they reached their fundraising target of $ 575 million in a private presale. It is not known how much Depp invested in the platform, but it is safe to say that he has probably lost 90% of that investment and could lose it all if the venture collapses and TTU becomes a deadcoin.

This is in stark contrast to Audius which is a decentralized music streaming service and a direct competitor of Spotify and Soundcloud.

Although TaTaTu is an older platform, the AUDIO token has continued to retain value and, despite the bear market still sees gains and positive recommendations from commentators.

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Down from an all-time high of $3.30 USD in August 2021 to a current $0.4650 USD.

Audius continues to grow its user base as more artists join the platform and new users sign up and use the platform, particularly though the smartphone app.

According to Business2Community , Audius is “one of the most interesting low market cap crypto options for those interested in music. AUDIO powers Audius – a decentralised music sharing and streaming service that is looking to disrupt a $25 billion industry.

“We selected AUDIO as a low market cap crypto to watch as the Audius platform has high potential. Musicians are starting to work against the trend of using centralised streaming platforms and explore other avenues to make money and distribute their content. Audius grants higher streaming revenues to artists, while also incentivising listeners and offering an opportunity for them to earn passive income through staking.”

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