Innovative Platform and Tools Simplify and Improve Onerous Operational Processes, Financing and Revenue Distribution Challenges
July 18, 2018 – Vancouver, British Columbia, Canada – MovieCoin, a leading next-generation financial technology company that is leveraging blockchain technology and cryptographic tokens to revolutionize entertainment industry financing and transactions, today announced that its first suite of innovative solutions for production companies, investors, lawyers, guilds and other stakeholders will be released this Fall.
Using smart contracts, distributed ledger technology and Moviecoin Tokens—an industry-themed cryptocurrency—to improve asset transparency, workflow efficiency and revenue distribution across media and entertainment, MovieCoin is standardizing financing, reporting and payment processes that have traditionally been overly complex and inefficient. A recently published Whitepaper, which is available at www.movie.io explains in-depth the Company’s mission and how it will utilize blockchain technology and tokenization to better manage an entertainment asset’s entire economic lifecycle, improve liquidity and reduce investor risk.
“We are creating an intuitive platform that will enhance entertainment industry participants’ abilities to more easily conduct their business activities while realizing time and cost efficiencies when investing in motion pictures and other media,” said Christopher Woodrow, MovieCoin Chairman and CEO. “We expect industry stakeholders who leverage our platform will be able to recoup more capital from their investments, reduce the burden on legacy backend resources and be able to cast a wider net to global investors who may be interested in deploying capital in high-quality projects at a fair value and with greater liquidity.”
Film and entertainment industry participants and business owners will benefit from the following features:
The Company and its affiliates are also developing multiple entertainment finance techniques to leverage the combined power of the MovieCoin platform with Moviecoin Tokens. One initial technique is the offer and sale of securities tokens—MovieCoin Smart Asset Tokens, which will be assembled and tokenized on the Company’s platform.
A combination of cash and Moviecoin Tokens would be released to the producer via the MovieCoin Platform to fund production costs of a project and the cash flows generated by the resulting completed MovieCoin Smart Asset would be paid to investors with a combination of cash or Moviecoin Tokens on the MovieCoin platform. Ultimately, the unique combination of the MovieCoin platform, Moviecoin Tokens and tokenization of MovieCoin Smart Assets created on the Company’s platform will be used to create a global yet local film finance platform to be used by major studios, production companies, investors and lenders.
In conjunction with MovieCoin’s initial smart asset offerings, the Company is commencing a security offering this month to raise capital to fund a slate of films that will be produced on the MovieCoin platform, which will become MovieCoin Smart Assets.
The Company is establishing the MovieCoin Smart Fund (the “Fund”) and intends to sell $250 million worth of Fund tokens. These tokens will finance 8 to 10 widely-released theatrical films on an annual basis during the term of the Fund. The Fund intends to own all rights to the films it finances and to build a valuable content library that can be re-marketed, re-licensed and re-financed to benefit Fund Token holders. The Fund’s films will be insured and bonded to mitigate film production, completion and delivery risk.
MovieCoin is a next-generation financial technology company focused on leveraging blockchain technology, proprietary applications and cryptographic tokens to become the leading entertainment transaction platform for businesses and consumers and the standard currency for funding motion pictures, television and other media. The Company has operations spanning content finance and production, business and consumer services and technology development and licensing.
MovieCoin’s content finance and production businesses offer programmatic ownership of filmed entertainment assets to financial investors seeking institutionalized exposure to premium content, while the technological development of its digital assets platform utilizes cryptographic tokens to provide businesses with innovative solutions to streamline operations and entertainment enthusiasts with unique and more engaging ways to participate in the movie experience. The Company has offices in Vancouver, British Columbia and Los Angeles, California.
Media Contacts:
Aidan O’Connor
Prosek Partners on behalf of MovieCoin
+1 (646) 402-6642
aoconnor@prosek.com
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