Hollywood will release a cryptocurrency to invest in the movie

According to CCN, the integration of crypto and blockchain technologies into the film industry is gaining momentum. It became known that the famous American producer Ryan Kavano initiated the creation of cryptocurrency Proxicoin. The executive director of Proxima Media was able to raise $ 100 million for this project. It is known that Coinbase and the government of Malta have become partners of the filmmaker’s initiative. Recall Ryan Kavano is known as a producer of the movie "Movie 43", "Jaws 3D", "Cowboys vs. Aliens", as well as the series "The Areas of Darkness"

Owners of Proxicoin tokens will have the opportunity to invest in the creation of various film projects, television programs, etc. According to Cavano, coin holders will be able to interact directly with studios and creators of television and cinema content. All these figures are interested in financing. It’s almost impossible for an ordinary person to meet with studio managers, and a cryptocurrency opens up such opportunities, the producer said.

It is reported that the token will be launched at the end of this year on the Malaysian Fusang Exchange. Investors will own an ESX platform that will financially assist entertainment projects. New shows will go on IPO, that is, it will take the form of a real startup. Now there are agreements with 30 films for participation in the IPO. It is planned that the platform will be able to launch approximately 600 different projects annually.

One of the developers of Proxicoin, Aman Johar, noted that the blockchain is capable of creating new business models. In addition to traditional areas, technology can reveal the value and industry of the movie. Now any viewer will have the opportunity to participate in the creation of the film, the consultant concluded.