New crowdfunding platform Moviecoin.com has opened its Initial Dex Offering (IDO), giving investors an early opportunity to invest in the company. Set for full launch in the second quarter of 2022, the platform plans on using blockchain technology to redistribute filmmaking controls away from studios and private equity investors and into the hands of directors and producers, in an effort to revolutionize the way in which films are made.
Investors in the IDO will receive an NFT which validates and confirms their investment. The platform claims that the NFTs will have other perks which will enrich their utility even further, including the potential for profit rights to be attached to NFTs owned by mid to long-term investors. Users will also have the option to sell their NFTs on secondary markets with all the attached perks.
Moviecoin team lead and investor Daniel Pittack, stated that the platform aims to differ from services that have come before it through giving its investors the right to receive an equal share of profits relative to their initial investment, as well as the potential for an unlimited profit-share in movies. “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.”
Preceding the platform’s full launch is an initial ‘first launch’ expected in March, where the public will have the opportunity to invest in ‘Prizefighter,’ a film with names such as Russell Crowe and Ray Winstone among its star-studded cast.
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