The Worldview Entertainment co-founder and the producer of such famous films as ‘Birdman’ and ‘Hacksaw Ridge’, Christopher Woodrow plans to launch “MovieCoin”.
The purpose of this ICO is to raise $100 mln so as to use this money for movies funding.
The project will be compliant with Securities and Exchanges Commission recommendations. Woodrow hopes that these tokens will democratize filmmaking by letting common people invest in the early stage movies which was impossible in the past because of venture capitalists’ restrictions.
“We’re trying to revolutionize the way films are financed… We’re in the process of putting together a slate of projects that will include A-list movie stars, top-tier directors, seasoned and established producers, and that will form the initial slate for MovieCoin,” Woodrow said
This isn’t the first time that the digital currency is implemented in the show business. It’s long been rumored that the Blockchain technology could help to get rid of mediators in show business so that artists could get fair earnings. For example, Audiocoin can be used to purchase Bjork’s latest album, Utopia, as well as Bitcoin, Litecoin and Dash. Also, many artists have already endorsed cryptocurrencies in public.
Woodrow used to work as a managing director at Prospect Point Capital, that invested is venture capital deals related with entertainment industry. He is also experienced in investment banking as he’s worked at the similar position at Oppenheimer & Co. and CIBC World Markets.