Thread by @theKimansta

I announced yesterday that I'm distributing 5% of the equity in Season One of Press Pass to 18 different guilds and unions in media production.

Follow @LMO_PressPass for more on the show!

🧵 Thread

The project is built on the five use-cases established by the LMO Structure, and we'll explain them as we offer equity to the bodies that fight for our sustainability as laborers.

Read (40 min + research): letmeout.productions/lmo-structure/

Exactly 5.00011301223% of the total property defined as Press Pass (Season One) is defined via 265,464 Version Three Collectibles carrying 0.0000188353713205102% each.

This pool is reserved for eighteen (18) guilds / unions we'd like to share this experience with us.

I know. That's a lot of fancy numbers.

Let's enter the paradigm established by LMO Structure for the #Film3 ecosystem.

1) A creative idea belongs to the individual / group who imagined it.

2) For the first time ever, we have open registration technology for proof-of-origin.

3) The franchise is a separate market asset from any film, show, character, setting, or other intellectual property it contains.

The LMO Structure removes franchise ownership / licensing from distributors as the default market mechanic.

It's disruptive, but necessary.

4) Creators in #Film3 will keep 100% of their franchises and 100% of their creative control.

This is as it should be... it clarifies merit.

No more "Release the _____ cut!"

That's what the market wants... That's what they'll get at @LMOPro.

5) All market interactions take place within the context of the story that's actually being told.

The distributed asset.

The film. One season of a show. The mini-series. The music video. An installation. A metaverse presentation. A stage run. A sculpture. An album. A tour.

6) The creator writes a Deed to their Franchise, and registers it as theirs using proof-of-origin on the blockchain.

They never need to negotiate their franchise as a market asset if they don't choose to do so.

7) The creator writes a separate Deed to their Distributed Asset, and mints to the blockchain.

We don't transact this Deed.

We define the property with this Deed as a community collaborative puzzle with a fixed amount of pieces.

A puzzle. Minimum 100k pieces.

20% of the pieces are distributed to collaborators.

35% to primary production house.

35% to OG creator / IP owner, with union/guild/secondary/a-list negotiations from this pool.

10% available to audience for exclusive collaborator roles.

10% to the audience produces the production budget without setting the value of the asset against 10%.

It reflects the market value of the blockchain it's built on, the collaborator relationship itself, and the exclusive collectible it's assigned to.

The audience - just like so many web3 projects - is collaborating in the production.

Just like many web3 projects, they own a piece of the puzzle.

In this case, there's a public Deed assigning the piece actual ownership to the puzzle with a limited collaborative role.

Being that we cannot sell open contracts or assets that produce passive future flows of wealth, this is pretty much the only way to accomplish fractional ownership.

Old-timey Deeds. Ours aren't Smart Deeds yet, we need a better market response so I can afford that step.

I'm a very rudimentary coder, and I appreciate the depth of knowledge it takes to get syntax right.

I'm supposed to own 35% of the Season One Puzzle, but I'm curious to see if Unions & Guilds want to experience this with us.

I've chosen the 18, no protest or politicking please.

Exactly 5.00011301223% of the total Season One property, defined via 265,464 Version 3 Collectibles, is reserved for a list of Guilds/Unions that you'll get to at the end of my story. 😛

0.277784056235% ownership of Season One via 16,592 Version Three tokens per guild/union.

I've made a community calculator you can import and work with to see in real-time.

I'll eventually make a video to explain.
docs.google.com/spreadsheets/d…

Season One of Press Pass is a $26,500,000 budget, with contingencies, overtime, and all the fixings worked in ahead of time.

Every possible angle for the run of the season has been considered.

Normally, I'd put together a pitch deck, write a Pilot script, and try to get in the right rooms.

That was actually what we did between March and July of 2021.

By the time July had gotten here, everybody in showbiz had reduced the tech to the "10k cartoon cult" model.

We also pitched to an agent in July '21 who called our show "Ted Lasso of Basketball."

From that point forward... my Twitter impressions fell off a cliff. We've survived an ongoing counter-marketing campaign. We're ostracized for speaking up on it, and marginalized if we don't.

Well, I've been marginalized anyway since I was born disabled from "pre-natal cocaine exposure" to such a degree that I have to manually create digestive conditions most enjoy naturally, and that can take up to 30 pills and 8 hours a day.

I was put in foster care at 6mos old...

...permanently placed by 2, had my name legally changed from Kimani Okearah to Kim David.

I grew up with a "tough love" Black Honduran dad who thinks people should be left in struggle for the lesson of it, which is why he kicked me out at 3am on my 18th birthday.

"Black Bag Day," as we call getting the boot the day you turn 18 in the former foster youth community, is basically a trauma the size of The Truman Show, except you have to live it, first-hand.

The reality of your world and self-understanding collapsing.

TW

TW

TW

TW

TW

X-rays of a bunch of chalky liquid in my digestive tract, desc. of child experiencing violence

I have super-messed-up intestines, so being trafficked into a "pain and suffering is your teacher" politic - including cruel, angry beatings - created a sustained stress response over my whole life that I'm sure didn't improve things.

The particularly narrow shredded bit is from an ex-girlfriend kicking in a surgery I had about 1.5 years prior.

The x-ray is form mid-2019, where I was told I had a situation that is liable to produce septic response in any variety of conditions, and that no future is promised.

I don't need your pity.

I need film3 to stop the bullshit and step up for us.

From day one, I've been further marginalized for simply introducing my work and claiming the truth of what it's done.

It was politics from the jump. Nothing clean.

57 of you have "broken the line."

Now you know I spend a good chunk of each day getting my intestines to do what yours do normally.

You know where I come from.

You get that the LMO Structure distributes equity across a limited amount of collectibles in an experience.

You get that distributed equity, if it's defined by the property as it exists, does not form securities or a facility for investment.

It forms puzzle pieces to a community collaboration.

Films and shows can be financed and produced this way, in full. Top of Tier One.

Every time we make a film or a show from here on out, we're doing it as a distributed equity puzzle, financed through equity-backed audience collaboration.

The puzzle piece is a "Membership Pass."

Our Company Ownership Token is a Lifetime Studio Pass.

A piece of the puzzle.

Our studio develops shows, films, and other scalable audience experiences as distributed equity puzzles, financed exclusively through audience collaboration.

We do so as a collective of sovereigns. We have cognitive storytelling workshop called "The Voyage of Legacy."

When you complete that 56-benchmark process, you'll have a fully designed, budgeted, departmentalized production, ready to sell digital collectibles and collaborate with an audience.

You own this Distributed Asset and the Franchise in full. 100%.

Zero points to LMO.

My marketing might "look the part" if I could launch Phase One and employ the team to gloss everything up 1000%.

"Surfing the lo-fi" is what you, the compassionate liberal, will have to do to create "direct impact" for marginalized people.

Try not to "build a path" for us.

Off the success of Season One of our flagship show @LMO_PressPass, we'll have between 4-6 launchpads for projects developed on the LMO Structure in our collective.

We do a bi-annual Creative Symposium, where Company Owners may pitch their project for a launchpad.

The launchpads do come with Let Me Out Productions as the primary house at 35% of the Distributed Asset. Zero points on the franchise.

Best deal on the market for any filmmaker.

Support studios are welcome on the work, tucked into OG creator split, so don't be shy.

We anticipate creators usually having their own studios, so they own 35% to negotiate holds with potential production partners, including A-list talent.

I don't think it's ethical to involve content distributors or agents in this negotiation, and we'll get to why.

But first, let's summarize LMO.

A production collective, formed as a puzzle, with pieces on the blockchain.

In order to stay compliant with the regulation against using art as facility for investment / money laundering, we release no more than 200 at any given time.

500,000 pieces, total.

80,000 will eventually be on the market, assuming we achieve that scale of membership.

It's of heavy benefit for members to increase the amount of puzzle pieces they have - a system I call "Collection Benchmark Achievements" in the LMO Structure.

The other 420,000 pieces are kept by the 21 named partners in our Deed of Assignment, which I have broken down for you here.

A global coalition, across the board.

We have Hollywood legacy, professional presence from throughout our global industry, and... you.

We develop and curate projects to launch and finance through collaboration.

This allows us to maximize the distribution potential of each asset while removing heavy risk from the distributors.

Win-win.

We do so by offering 16 collectible content gateways that are sold for a total that reflects 125% of the production budget.

All 16 = exclusive distribution.

The mark-up is fair for the removal of risk.

First 8 = 25% of exclusive.
Next 4 = 25%.
Last 4 = 50%.

Distributors may buy the digital collectibles carrying equity, if they so choose.

These do not carry the right to distribute the content in any way, shape, form or facet, so it's not exactly a functional purchase for them unless they want some creative input.

If a distributor buys a collectible gateway, it immutably carries the right to distribute the content while they are holding.

In the LMO Structure paper, I describe all sorts of conditional rights to apply to these gateways.

"No adult platforms" = key.
"No shelving" = key.

These gateways can be programmed to handle all sorts of interactions, including syndication windows, and some other methods that our lovely distribution partners in web3 are developing for advertising and engagement.

The first 8 gateways are accessible to OTT distributors (think Twitch streamer), which is great.

If the gateways are limited to syndicate the content to a 7-hour window of availability on a Friday, then that's when it will be hosted on stream.

The LMO Gateways produce 14+ revenue streams per distributed asset.

How many streams do you currently have across from industry projects?

Gate, subs, ads, and merch, and their breakdowns.

I want to return to the days of cinema as an event, and maximize the gate potential of experiences.

Subs... adding low-risk content to the archive is always healthy.

Ads get super, super interesting on the blockchain.

The content itself can be merch in real-time.

Distribution is diversified. Smaller networks have a chance to compete for larger-scale properties, and content can be distributed through existing engagement networks.

Any distributor can collect the rights to Season One of Press Pass for about $250k. Ethereum is low.

Season One is built to succeed at $1,000 eth, so we're fine.

Co-Producers ($120k entry) and Executive Producers ($550k entry) may reach out to me to explore the collaboration and the potential returns.

Now: The 18 Guilds and Unions we'll be sharing equity in Season One with.

To enjoy collaborator net issuance, they must assign a rep to meet with our producer core at 1x production meeting a month while filming.

We'll shepherd the LMO Structure together in it's "beta."

1) Directors Guild of America (DGA)

0.277784056235% ownership of Season One via 16,592 Version Three tokens.

A piece of history, being that they were minted 5-19-2021.

This will eventually be a 5-min blooper reel from the Season.
opensea.io/assets/ethereu…

2) International Alliance of Theatrical Stage Employees (IATSE)

0.277784056235% ownership of Season One via 16,592 Version Three tokens.

We'll share with the international organization, and expect a fixed-percentage focus (25% value) on the local chapter in Sacramento.

3) Screen Actors Guild and the American Federation of Television and Radio Artists (SAG-AFTRA)

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

I can cast 25% SAG for Season One in Sacramento.

4) Teamsters

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

5) Writers Guild of America (WGA)

Overall Guild, not West or East.

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

6) Alliance of Motion Picture and Television Producers (AMPTP)

Not often discussed, but of vital importance to our industry. Thank you.

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

7) American Society of Cinematographers (ASC)

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

8) American Society of Composers, Authors and Publishers (ASCAP)

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

9) Association of Talent Agents (ATA)

Some of you will move to Sacramento by the time we're scaled!

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

10) Motion Picture Sound Editors (MPSE)

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

11) Producers Guild of America (PGA)

I put them at 11 so someone would get mad they aren't top of the bill.

What? Is that on-the-nose? Troll gon' troll.

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

12) Set Decorators Society of America (SDSA)

Coolest name goes to...

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

13) Society of Camera Operators (SOC)

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

14) Society of Motion Picture & TV Engineers (SMPTE)

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

15) Stuntmen’s Association of Motion Pictures

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

16) Stuntwomen’s Association of Motion Pictures

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

17) National Association of Black Journalists (NABJ)

Any members must disclose this when writing about us, and at the top of the piece.

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

18) Society of Professional Journalists (SPJ)

Any members must disclose this when writing about us, and at the top of the piece.

0.277784056235% ownership of Season One of @LMO_PressPass via 16,592 Version Three tokens.

These issuance are in exchange for advice and for your first-hand experience in our LMO Structure, and should be kept by each body as a piece of history.

While the body holds 0.277784056235% ownership over the season, they'll receive 0.277784056235% net earnings.

Should the body choose to give these tokens away, it should be noted that only direct collaborators within our defined available roles are eligible to receive net issuance.

If a wallet not registered to our treasury takes custody over the token, it's purely a collectible.

17 and 18 are on this list because of the subject matter of @LMO_PressPass.

Press Pass is a sports documentary, the kind that would flow onto your cable in 2012 without you really noticing.

We are producing a primary arc in the "Modern Era."

That arc focuses on a bunch of fictional people I made up that cover a fictional pro basketball team in a fictional pro basketball franchise.

It's designed to look nothing like reality while celebrating the role of sports media in these ecosystems... with critique.

One of those fictional people I made up wasn't entirely fictional... as it's me.

I created a character in this storyworld back in 2016.

A photojournalist that covers a terrible basketball team, and decides to use the sport as their personal canvas for storytelling.

Instead of producing entertaining material, the photojournalist produced deliberately awful content while taking epic photography... with the joke being that the quality of "influencer content" mirrored the quality of the team.

I did this for 5 years.

Five. Years.

119 episodes, with about 20+ more from the unedited pandemic season.

Here's episode 1:

In doing this, I created a sitcom character.

Then, I built the sitcom lore around it.

The sitcom is going to be built off a community-generated lore of characters created the same way.

Memes. Throughout. History.

While we're telling our main story arc, we'll visit the content generated by the characters in the archive... often.

You've seen a sports documentary.

When the Utah Slam Poets are in Sacramento, and our episode features a moment where an older radio assistant from their press circuit is telling a cable runner from the Majesty's circuit about "this crazy fan, back in '85"...

YOU CAN BE THAT CRAZY SLAM POETS FAN.

We produce this lore through D&D style campaigns within this pro basketball fiction.

Every pro team is mixed-gender and non-binary.

In order to get involved as a non-player/non-coach, you need at least one Version One collectible.

$12 on 12/6/2022.
opensea.io/assets/ethereu…

In order to get involved as a player or coach, you need at least one Version Two collectible.

$25 on 12/6/2022.
opensea.io/assets/ethereu…

1-6 editions = Lore Producer
7-24 editions = Lore Wrangler
25+ editions = Lore Master.

You can submit 5-minutes of content per edition held, and you can lead campaigns in your chapter.

The Sacramento Majesty have been in existence since 1939.

Every Basketball Syndicate of America season before 2012, we can onboard 277 new characters for each team.

That's a maximum of 83 Lore Chapters per team, with the minimum being 24 for the Dallas Rodeo and the Nova Scotia Frosties.

Both teams started in 1988, but only one of them features "Demetrius, the Black Snowman" as their mascot.

His snow isn't dirty. It's Black.

If you want to be Demetrius the Black Snowman, you can collect a Version One token, and register your wallet and transaction hash to Demetrius.

"Authenticity Upheld" quality control is enforced, keep that in mind.

Your edition character's registration has been permanently used.

The next wallet to try and register a new character any edition coming from your wallet featuring your transaction hash won't be able to do it.

If you have less than 25 token editions, you'll join a "Seize the Memes Workshop" led by a Lore Master, a Champion's Herald, or a General Manager of the team your chapter is in.

If we're in January of 1992, and you're performing as Demetrius, come ready - D&D-style.

Who knows what happened? You'll figure it out together.

We're tracking audience-details with our Fandom wiki, and at scale, we'll hire a few full-time Lore Managers from the most passionate fans in our community.

In order for a chapter to be active for audience collaboration, all the team rosters have to be set ahead of time, and the season has to be simulated by our production department so we know what happened.

We're currently in that process, and it's a ton of fun.

I'm a little shocked folks haven't been keen to spend $25 to stick their 2K player in this world at some point in history, role-play with a group, and bring them to life with a meme in our archive.

That sounds fun... even if you didn't own a piece of it. And you do.

So do all the guilds and unions I mentioned.

Please do not install any financial value into our tokenomics pool, this is purely a relationship I'm offering to share this experience as we move forward.

We're going to grow the showbiz sector in Sacramento, and expand the accessibility and sustainability of this industry.

My pledge is baked into the architecture. 20% of the net gains are shared by the team, hired by the puzzle, to put it together.

If the day comes when we can offer residuals directly to every audience member for holding these blockchain data points across from their collaboration, then we'll transition to doing that.

Right now, that's not within our current market rules, so 10% becomes a support treasury.

Media elitism... prescriptivism... it's a dangerous thought mechanic.

The USA has been turned into a feudal caste society by the "need to be better" than the next person, and it's preached every day, in every format.

Those who come from nothing are not your ego's booster seat.

@threadreaderapp unroll and organize, plox