The owner of the studio Proxima Media, a famous Hollywood producer Ryan Kavano drew $ 100 million to create a token Proxicoin. Coinbase Bitcoin Exchange and the Government of Malta are among the investors of the project, writes CCN .

Proxicoin holders will be able to finance the creation of new films, music and television shows.

“Users will have access to real studios and managers who are looking for funding. Traditionally, this path is difficult and long, if you do not have the necessary connections, ”said Ryan Cavanaugh.

The token will be released at the end of 2019 on the Malaysian Fusang Exchange.

In addition, investors will become partial owners of a new platform for financing entertainment projects Entertainment Stock X (ESX), which will also be launched before the end of the year.

“Each film or television program will go on an initial public offering (IPO), ensuring its liquidity. ESX has already entered into an agreement to hold an IPO for more than 30 feature films, ”the project description says, which, however, does not contain specific names.

It is expected that the platform will annually create at least 600 full-length films and television shows.

“The blockchain technology allows you to create new business models that reveal value in traditional industries, such as film financing. A global audience can now participate as investors in tokenized offers through a new asset class, ”said Proteum Capital director and early consultant at Proxicoin Aman Johar.

Recall that in January, the MoviesChain blockchain platform of the tvzavr online cinema announced plans to release a black comedy Decrypted about the creator of Bitcoin Satoshi Nakamoto. The studio wanted to attract most of the budget through the production and sale of its own tokens.

Subscribe to BlockchainJournal news on Facebook !