Hollywood and Coinbase to Launch Security Token for Movie Investment
The head of the studio Proxima Media, the famous Hollywood producer Ryan Kavanaugh has raised $100 million for a token Proxicoin. The trading floor Coinbase and the authority of Malta has already invested in the project.
Holders of the coin will be able to fund the creation of new movies, music, and TV shows.
“Global audiences can now participate as investors in tokenized offerings through a new asset class,” Kavanaugh said.
The token is expected to launch by the end of the year at the exchange Fusang Exchange.
Proxicoin holders will also be partial owners of Entertainment Stock X (ESX), an innovative platform operating similar to a stock exchange for financing entertainment projects.
“It utilizes Regulation A of the JOBS Act allowing each film or TV show to undergo an IPO, providing liquidity for each production through aftermarket trading. Currently, the trading platform has deals for listings on over 30 major feature film projects and is expected to have a significant share of the 600 major films and television shows shot annually.”
We recall that the ICO for the shooting of the movie "Empire V" collected 2,000 Ether.