BlockFilm Becomes Leading Blockchain-based Film Financing Platform after Groundbreaking OSC Exemption Order – Blockchain News, Opinion, TV and Jobs
BlockFilm is to turn into the primary unbiased and main blockchain-based movie financing platform within the area. The Canadian based mostly manufacturing platform will likely be powered although a strategic partnership with TokenFunder. A groundbreaking Exemption Order by the Ontario Securities Commission (OSC), paved the way in which for this ‘tokenized’ manufacturing financing alternative to occur.
The resolution follows a rigorous course of performed by the OSC’s Launchpad staff
and helps traders in content material manufacturing keep away from multiple-year waits earlier than monetizing their funding, and offers producers entry to wider swimming pools of funding. It additionally permits BlockFilm to carry content material producers – each established and rising – along with accredited traders to finance unbiased media productions. The platform helps the creation of compliant monetary devices (safety tokens) to fund and assist challenge budgets.
The safety tokens (overlaying fairness, debt and/or income share strategies of financing) symbolize the underlying fractionalized possession or debt devices that present content material producers with unprecedented and environment friendly entry to new sources of personal capital.
Gamechager for content material producers
What do award-winning star producers Damon D’Oliveira, Mary Young Leckie, Ina Fichman, J. Todd Harris and Roland Joffé, amongst others, have in widespread? They are a part of a rising of trade leaders who agree that BlockFilm is a gamechanger for content material producers. Top-grossing Canadian producer Mary Young Leckie is aware of how exhausting creators must work to finance their tasks, and what number of stakeholders are concerned within the varied steps to financing. For Mary, BlockFilm is a “far simpler, more democratic and less painful way to finance a film, and cannot come soon enough.”
In addition to the OSC exemption, BlockFilm is happy to announce it has partnered completely with TokenGX, an Exempt Market Dealer working its groundbreaking TokenFunder.com investing and safety token issuance platform, to onboard and serve traders wishing to spend money on BlockFilm content material producers’ safety tokens. In addition to its totally digital Know-Your-Client onboarding and investing course of, TokenFunder creates and distributes the tasks’ safety tokens to traders’ digital asset accounts—a course of which allows them to be digitally traded sooner or later.
Previously, movie trade traders needed to wait out the complete lifecycle of a challenge’s distribution path (seven to 10 years, and even longer) to monetize their funding.
“We’re excited about this partnership with TokenFunder. Backed by blockchain integrity, security and transparency, we are responding to challenges our industry has faced for decades,” says Pauline Couture, Co-CEO of BlockFilm. “The BlockFilm solution for producers and investors is unmatched today and shows true global leadership from the OSC. BlockFilm will be transformational for both content producers and investors.”
Alan Wunsche, CEO of TokenGX and TokenFunder, mentioned: “It’s exciting to think that we will be developing an entirely new class of investment products for investors who are seeking new forms of returns in this low-interest-rate environment, all while providing wider access for the arts community to secure funding and deepen fan engagement more cost-effectively.”
A brilliant future
The BlockFilm/TokenFunder partnership will, sooner or later, permit content material producers to difficulty rewards to their followers and traders within the type of tokens that may be collected or redeemed for movie and manufacturing trade experiences and extra. Eventually, members of the general public will have the ability to supply assist to content material producers by way of direct donations. Fans, generally known as “champions”, may also have the ability to earn rewards for supporting tasks by way of their private social media channels.
At the time of launch, BlockFilm’s first 11 tasks from Canada, Europe and the UK, goal to boost $19.1 million CAD within the subsequent 4 to six months. With 50 tasks within the pipeline at this second and large ongoing curiosity, BlockFilm anticipates serving to to fund greater than 100 tasks by the top of subsequent 12 months, for a projected complete elevate of $175 million CAD.
Accredited traders can spend money on these worldwide tasks at the moment, so long as they adjust to native legal guidelines in their very own jurisdictions, and can have the ability to resell their tokens to different accredited traders within the TokenFunder market – an trade first.
“BlockFilm is conceived and designed to support an immense need among producers to access new sources of financing,” says Suzette Couture, Co-CEO and Chair of BlockFilm’s board. “Content producers in Canada and around the world will greatly benefit from our groundbreaking new platform as they connect to a global community of investors and champions that can now discover and invest in their work.”
BlockFilm is designed to showcase tasks of each style and format whereas selling content material with social impression causes at their coronary heart, in order that traders can hook up with ‘stories that matter’ and leverage their investing energy as a method of participating in causes they need to assist. Those tasks will ignite the passions of followers and communities on key subjects akin to: the setting and sustainability; human rights; Indigenous Peoples; LGBTQIA2S+ people; People of Colour; social and political points; and ladies
and gender points.