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Ripple vs. SEC Lawsuit Documentary to Launch in the Metaverse.
According to a Variety report, MContent, a Dubai-based content platform, has disclosed that it has partnered with PricewaterhouseCoopers (PwC), to launch a virtual reality documentary about Ripple’s ongoing battle with the Securities and Exchange Commission (SEC).
The documentary, dubbed Ripple vs. SEC Saga, was produced by MContent and Amsterdam-based Insight TV, alongside Villain Studios, and will air in a virtual theater in the metaverse.
Per the report, the Ripple vs SEC Saga will launch in MContent’s Cineverse, a virtual reality theater created within the metaverse project developed in partnership with PwC.
People interested in viewing the documentary will be required to use Oculus VR headsets or other augmented reality glasses, Variety reports.
Aside from the virtual reality theater, the documentary is also available on MContent’s tokenized streaming platform.
Speaking about the development, Umair Masoom, founder and CEO of MContent, said in a statement:
“The immersive cinema experience, designed in collaboration with PwC, has global scalability and mass adoption capability,”
Masoom added that the idea of bringing the MContent Cineverse to a global audience is to “increase funding and screening opportunities for thousands of independent filmmakers,” who want to also launch their media content on the platform.
The plot of the documentary borders around Ripple’s ongoing legal battle with the SEC.
Recall that in late 2020, the Securities and Exchange Commission charged the popular blockchain company and two of its executives, Brad Garlinghouse and Chris Larsen, for conducting an unregistered securities offering in the United States.
While the SEC is convinced Ripple breached its laws through the sale of XRP, the fintech company has maintained that its digital token is not a security but a currency.
The argument has led to a long-term battle that has lasted for more than a year, with both parties not willing to reach a settlement agreement.
At the moment, Ripple’s response to SEC’s request to redact some portions of meeting’ minutes with the federal agency and other third parties is due on April 4, 2022.