Hollywood has been recognized to be illiquid, a undeniable fact that first resonated with movie producer and businessman Christopher Woodrow who launched the MovieCoin token. Following this, the development, it appears, has solely grown.
The Liechtenstein Cryptoassets Change, or LCX, announced right this moment that the platform would supply issuance of a brand new film token dubbed RVW, which might finance the prices related to the Hollywood movie “Roe V. Wade.”
We’re excited to work with Cathy Allyn and Nick Loeb because the unique expertise supplier to help the issuance of tokenized monetary devices backed by future proceeds of the film. ???? @NickLoeb @RoevWadeMovie @LCX https://t.co/fUZ75fG6hD
— Monty Metzger (@montymetzger) October 14, 2020
In reality, producer of Roe V. Wade Film, Nick Loeb, stated in a press release:
Tokenization by way of blockchain expertise is democratizing investing and can revolutionize how Hollywood will have interaction with their viewers.
Whereas RVW would particularly finance the movie firm to execute its distribution and advertising plans. Final 12 months, a token referred to as Proxicoin, which permits funding in media content material was launched by Proxima Media, a agency based by movie producer Ryan Kavanaugh. The agency raised $100 million for the ethereum primarily based token which made approach for the smallest of traders in movies.
Apart from vetting and implementing compliance obligations similar to KYC and AML necessities, LCX aimed to generate the good contracts for the RVW Token. It deliberate to handle pockets whitelisting and likewise keep the Token Holder Registry.
The agency claimed that RVW would enable traders to revenue from the long run earnings of the movie, and it has determined to cost a 3 % premium payable in LCX utility token or ETH, at each token buy transaction. In response to LCX the STO of the RVW token is slated for early November 2020.