It was just a matter of time when we would find Hollywood and blockchain in the same sentence. Apparently, Hollywood is embracing blockchain and crypto payments. The latest news come from The Liechtenstein Crypto-assets Exchange (LCX), the company which has reportedly teamed up with a Hollywood star, Wesley Snipes, in a project of funding the upcoming motion picture and TV shows produced by Snipes and his production company, Studio Maandi House.
The Daywalker Movie Fund
According to the recently published reports, Snipes reportedly stated:
“It’s an exciting time now that all of my fans old and new can indirectly become co-producers of our upcoming movies. The tokenized Daywalker Movie Fund enables the audience to turn into investors and participate in the success.”
It sounds like a revolution in the movie industry. So, how does it work?
The fund itself (DMF) is planned to be tokenized. The amount reported is $25 million. The token will be presented as DMF Security Token. The investment committee alongside Mr. Snipes will reportedly run the Fund. One of the main ideas behind this project is to allocate the funds to future projects.
Moreover, the goal of the project which should appeal mostly to the general public is the ability to participate in making of the movie and its distribution. This means that both the retailers, small businesses, as well as institutions would be able to act as investors in the project.
LCX was founded in 2018. The headquarters are in Liechtenstein. As a reminder, Liechtenstein is a country with advanced blockchain laws and a AAA rating at Standard & Poor’s.
The LCX Platform runs on blockchain. This is the place where investors will register and identify. Needless to say, blockchain enables all participants on a network to stay anonymous to the public eye behind well encrypted addresses, while protecting each step of the transaction and making it irreversible and transparent.
This will also be the place of a security token offerings (STOs). The entire project seems to be well thought through, as STOs are known as secure, highly regulated process. Security token offerings to the public must be in accordance with specific regulations. Regulators are also responsible for supervision of the STOs. Therefore, the whole process from beginning to the end appears to be transparent and in tune with the regulations.
The above mentioned DMF Token should enable investors to benefit from the profits of the movie production and the IP, as well as to receive additional benefits. Being invited to the movie premiere is just one of them.
Above all, maybe the most important aspect of this project is the ability to make it sustainable. Profits should be re-invested in the value of the DMF token. That way, both the production studio and the investors are participating in a long-term project.
Previous Hollywood – Crypto Projects
This is not the first time Hollywood and blockchain act together. Before Snipes, another Hollywood star partnered with crypto company. Namely, Johnny Depp teamed up with entertainment platform TaTaTu, dedicated to fighting piracy, in order to co-create and produce the movie.
Ashton Kutcher also tackled the subject when he donated $4 million in XRP to Ellen Degeneres’ Wildlife Fund.
Back to the hero of this story, Wesley Snipes is an American actor, film producer, master martial artist, and author. He starred in many movies, the most recent of which are “Dolemite Is My Name” (premiered at the Toronto Film Festival) and before that – the Blade trilogy.
Would you invest in a movie with Wesley Snipes?