In an exclusive interview with Shreyas Webmedia Solutions (SWS), Riaz Mehta, Founder and CEO of ritestream, shared his passion, work, and focus on blockchain technology.
SWS: How did you get the idea or concept behind ritestream?
Riaz Mehta: Prior to creating ritestream, I was heavily involved in TV production, having created a string of successful tv shows currently available on Netflix, Fox, and winning numerous industry awards including ‘Best Reality TV Series’’ at the Asian TV Awards for hit show: The Apartment and receiving a nomination at the acclaimed International Emmy Award for my martial arts fighting series ‘The Challenger’.
I have firsthand experienced the difficulties creators face in getting their projects funded, having been in that exact position many times. It’s a really tough process and funding often comes from the same handful of sources and is steeped heavily in favor of the funders, not the creators. As a result, more often than not, creators have to contend with delays, a sanitized vision, and unfair remuneration.
ritestream was built as a direct response to this, seeking to directly tackle antiquated forms of funding and help democratize the creator economy.
SWS: How has the journey of the company been so far?
Riaz Mehta: I have spent the last six years building a very successful web2 rights management platform allrites which has clients globally and generates significant revenues.
ritestream is our first foray into Web3 and was launched to the public in early 2022, with backing from great investors and advisors with pedigree within the space.
2022 has seen us launch our website, initial roadmap, and whitepaper, conduct a sell-out token genesis event & launch a watch-to-earn platform on Android.
Alongside this, we have brought on board some great people to help take the project to the next level. And we end our first year incredibly positive for our future and excited to continue building despite the prevailing market conditions.
SWS: How would you describe your growth trajectory in 2022?
Riaz Mehta: Surviving, let alone building, in a bear market is tough. 2022 has seen its ups and downs, but we believe we’re ending the year with a much clearer vision of purpose, route to market & product build than at any point in the last 12 months.
SWS: Would you say that ritestream helps any community or section of society?
Riaz Mehta: ritestream was built by creators for creators, with a genuine understanding of the challenges creators face when seeking funding at its heart.
However, in true Web3 fashion, ritestream is ultimately for all. If we’re looking to democratize the creator economy our platform has to be for everyone. That includes those not au fait with blockchain and our intention is to remove some of the barriers to entry that exist as part of our final product.
SWS: Please let our readers know about ritestream NFT launchpad
Riaz Mehta: Built on blockchain technology, ritestream puts opportunity and control in the hands of creators and fans alike, through a community-led, decentralized platform – featuring its own token economy – that directly tackles antiquated models of funding & ownership.
Approved creators seeking funding – on either a brand new or established franchise idea – list their project on the ritestream platform. Funders can choose to support the projects they love by directly investing – in turn receiving fractionalised digital asset ownership matching contributions. Funding achieved, milestone fund releases – matching that of the proposed production schedule – allow creators to start bringing their stories to life.
SWS: How can your journey and experience help budding entrepreneurs in blockchain?
Riaz Mehta: We’ve learned a lot from our first year. A LOT. Not all bad. But equally, not all good. And this has helped us to be in a position to build effectively for the future.
Stick to your original vision, make it really clear for people to understand, and build a solid team and community that are equally invested, share the same values, and are along for highs & lows, organically.
About Riaz Mehta
Riaz Mehta attended Macquarie University in Sydney, Australia, where he earned a Bachelor of Science Degree, specializing in Computer Science and Software Development. In 2004, eager to channel his creative side, he founded Imagine Group Pte Ltd, producing world-class branded content for digital stations and pan-regional television. Connected friends introduced him to key players in the entertainment industry and he learned a great deal about licensing content, brand partnerships and what it takes to fund a project. At Imagine Group, Riaz created new formats, conceptualized ideas, acted as an executive producer, hired production teams and showrunners, and oversaw the creative teams. He was also Emmy nominated and received several international and regional awards for original content. In 2017 he founded allrites as a direct response to the inequalities and a lack of evolution in the media streaming ecosystem, and in 2019, brought Damian Miles on board as Co-founder and CTO. In 2021, Riaz and Damian founded ritestream to address the difficulties in the industry around the content supply chain and the funding of projects. The unique Web3 platform combines a streaming app, a launchpad for creators to fund their work and a blockchain technology marketplace. Ever the entrepreneur, Riaz continues to serve as CEO for both companies.
SWS team thank Riaz Mehta for this interview.
Pic Credit: ritestream
