DePIN Media Network PTK Starts Up on Coinbase’s Base to Bring Transparency to Making Movies

As a seasoned analyst with years of experience navigating the complex world of blockchain and decentralized technologies, I am genuinely intrigued by PKT, a project that seems to be bridging the gap between Hollywood and blockchain. The fact that it’s co-founded by Jesse Berger, who was instrumental in producing blockbuster films like Oblivion, adds an interesting twist to this narrative.

PKT, a decentralized media network developed by three siblings dissatisfied with the workings of the Hollywood movie industry, is set to be among the initial DePIN (Decentralized Project Incubation) projects to debut on Base, Coinbase’s second-layer blockchain established on Ethereum.

As a crypto enthusiast, I found myself drawn to PKT, having learned that Jesse Berger – a founding community member and Hollywood blockbuster producer known for films like Oblivion and other high-grossing productions – was seeking a means to enhance transparency in the film industry.

Despite earning immense popularity for his films, attracting viewers from all around the globe, he discovered that he lacked clarity regarding the revenue distribution and the actual earnings due to him as a producer. In an interview with CoinDesk, he shared this predicament, and it was then that he recognized blockchain technology could potentially offer a solution.

He expressed his fascination for blockchain because of its permanent record-keeping system, ensuring all transactions are visible and transparent, as well as the concept of smart contracts that allow for automated financial transactions.

As a researcher, I’m immersed in the development of a network that aspires to emulate the functionality of Roku or Apple TV, but with a decentralized approach. This journey began back in 2019, where we launched our own proof-of-work, layer-1 blockchain to lay the groundwork. Excitingly, our first streaming platform, BIA – a digital hub dedicated to TV and films – is set to go live later this year.

Josh Berger, a founding community member, expressed his viewpoint by saying, “I believe the key element that has been lacking for those attempting to address issues within the film industry is the shared interests between the audience and the creators. It’s not just about paying us at their expense.”

Jesse Berger emphasized the necessity of making PKT user-friendly for regular consumers with minimal or no knowledge about cryptocurrency. Technical jargon often used within the crypto industry may be confusing and unengaging to others.

“If we explain the term ‘DePIN’ to a regular public, I believe we’re already at a disadvantage,” he stated. “This jargon is highly specialized within the context of the crypto world and our interactions with crypto users. However, if we aim to succeed as a platform, we can’t use such technical terms. That won’t resonate with the typical consumer. If you focus on explaining how it functions, you risk losing your audience.”

One thing that PKT’s crypto stakeholders will care about is the decision to use Base because PKT will be one of the first DePIN projects on the platform.

The move has several reasons, including the introduction of a stake-to-earn protocol that allows users to earn daily and long-term staking rewards and yields.

In simpler terms, Jesse Berger stated that our primary goal has been to ensure this is easy for users to grasp and adapt to. We aim to be a significant player within Base, rather than a small fish in a large pond. I strongly support Coinbase’s mission and the objectives they strive to achieve as a platform, particularly their efforts to make it accessible for more people to join in.

Combined, DePin holds a market capitalization of approximately $18.3 billion, as per CoinGecko’s data, and about $5.5 billion of this is on the Solana network. Compared to this, Base has only a small value of less than $5 million.

One additional benefit of adopting Base, as stated in their announcement, lies in the technological advancement that incorporates smart contracts and Web3 functionalities. These features streamline scalability and eliminate the requirement for power-consuming proof-of-work blockchain maintenance.

PKT plans to carry out a 1-to-1 token airdrop across the platform ‘Base’ over the course of three stages: Firstly, during the initial rollout on February 21, 2025, secondly on Wednesday, August 21, 2025.