Moviecoin.com, a new crowdfunding platform, has opened its initial DEX offering, giving investors an opportunity to get in early on a site that will
Moviecoin.com, a new crowdfunding platform, has opened its initial DEX offering, giving investors an opportunity to get in early on a site that will, its owners hope, ‘revolutionize’ the financing of films.
The site, which combines non-fungible token (NFT) and blockchain technology, will tokenize movie investment into NFTs that it claims will be ‘rich in utility,’ with potential profit rights attached for mid to long term investors.
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Daniel Pittack, who is described on the website as a team lead and investor says, “Our Movie Coin DEX offering presents a unique opportunity for investors to reap benefits of the success of Moviecoin.com.”
Investors will receive an NFT that validates and confirms their investment. This NFT can then be sold on the secondary market, at which point all the rights attached to it, such as profits from the film, are sold with it.
The platform is expected for full launch in the second quarter of 2022 and aims to take control and creative freedom away from studios and private equity investors and place it in the hands of directors and producers.
The first ‘launch’ is expected in March, where the public will have the opportunity to invest in Prizefighter, a film that will feature Ray Winstone and Russell Crowe.
Moviecoin.com asserts that, unlike other services that have come before it, it will give investors the right to receive an equal share of profits relative to their initial investment, as well as the potential for unlimited profit-share of the movie.
“We’re seeing an increasing appetite from investors for these sorts of utility rich investment options and are proud to be giving more power to both movie fans and moviemakers as part of this process,” Pittack added.
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