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 impartial and main blockchain-based movie financing platform within the area. The Canadian primarily based manufacturing platform can be powered although a strategic partnership with TokenFunder. A groundbreaking Exemption Order by the Ontario Securities Fee (OSC), paved the best way for this ‘tokenized’ manufacturing financing alternative to occur.

The choice follows a rigorous course of carried out by the OSC’s Launchpad staff
and helps buyers in content material manufacturing keep away from multiple-year waits earlier than monetizing their funding, and provides producers entry to wider swimming pools of funding.

The choice permits BlockFilm to convey content material producers – each established and rising – along with accredited buyers to finance impartial media productions. The platform helps the creation of compliant monetary devices (safety tokens) to fund and help venture budgets.

The safety tokens (protecting fairness, debt and/or income share strategies of financing) characterize 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 Younger Leckie, Ina Fichman, J. Todd Harris and Roland Joffé, amongst others, have in widespread? They’re a part of a rising of trade leaders who agree that BlockFilm is a gamechanger for content material producers. Prime-grossing Canadian producer Mary Younger Leckie is aware of how laborious 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 easier, extra democratic and fewer painful option to finance a movie, and can’t come quickly sufficient.”

Along with the OSC exemption, BlockFilm is happy to announce it has partnered solely with TokenGX, an Exempt Market Seller working its groundbreaking investing and safety token issuance platform, to onboard and serve buyers wishing to spend money on BlockFilm content material producers’ safety tokens. Along with its absolutely digital Know-Your-Shopper onboarding and investing course of, TokenFunder creates and distributes the tasks’ safety tokens to buyers’ digital asset accounts—a course of which allows them to be digitally traded sooner or later.

Beforehand, movie trade buyers needed to wait out the complete lifecycle of a venture’s distribution path (seven to 10 years, and even longer) to monetize their funding.

“We’re enthusiastic about this partnership with TokenFunder. Backed by blockchain integrity, safety and transparency, we’re responding to challenges our trade has confronted for many years,” says Pauline Couture, Co-CEO of BlockFilm. “The BlockFilm answer for producers and buyers is unmatched right this moment and reveals true world management from the OSC. BlockFilm can be transformational for each content material producers and buyers.”

Alan Wunsche, CEO of TokenGX and TokenFunder, stated: “It’s thrilling to suppose that we’ll be creating a completely new class of funding merchandise for buyers who’re in search of new types of returns on this low-interest-rate setting, all whereas offering wider entry for the humanities neighborhood to safe funding and deepen fan engagement extra cost-effectively.”

A vibrant future 

The BlockFilm/TokenFunder partnership will, sooner or later, permit content material producers to subject rewards to their followers and buyers within the type of tokens that may be collected or redeemed for movie and manufacturing trade experiences and extra. Finally, members of the general public will have the ability to provide help to content material producers via direct donations. Followers, generally known as “champions”, may also have the ability to earn rewards for supporting tasks via their private social media channels.

On the time of launch, BlockFilm’s first 11 tasks from Canada, Europe and the UK, purpose to lift $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 tip of subsequent yr, for a projected whole increase of $175 million CAD.

Accredited buyers can spend money on these worldwide tasks right this 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 buyers within the TokenFunder market – an trade first.

“BlockFilm is conceived and designed to help an immense want amongst producers to entry new sources of financing,” says Suzette Couture, Co-CEO and Chair of BlockFilm’s board. “Content material producers in Canada and all over the world will enormously profit from our groundbreaking new platform as they hook up with a world neighborhood of buyers and champions that may now uncover and spend money on their work.”

BlockFilm is designed to showcase tasks of each style and format whereas selling content material with social affect causes at their coronary heart, in order that buyers can hook up with ‘tales that matter’ and leverage their investing energy as a means of participating in causes they wish to help. These tasks will ignite the passions of followers and communities on key matters reminiscent of: the setting and sustainability; human rights; Indigenous Peoples; LGBTQIA2S+ individuals; Individuals of Color; social and political points; and ladies
and gender points.

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