The MovieCoin Platform will bring transparency and fairness to the ways a films revenues are accounted and paid
Consumers spend the equivalent of two trillion dollars every year on media and entertainment content. The vast majority of the most desirable content is produced and distributed through an entrenched global system that is dominated by a handful of companies and a few privileged insiders who are able to participate in the financing of that content.
Those companies have long-engaged in opaque accounting practices, adverse payment processes and other predatory habits that limit access and disadvantage outsiders. As a result, content creators, lenders, investors and others holding payment entitlements are frequently at the mercy of the dominant companies and other middlemen who stand between them and their money.
The industry has an abundance of platforms, aggregators, royalty collection services, agents, and other gatekeepers and intermediaries that collect money from consumers and remit (hopefully) payment to the proper channels. Stakeholders looking to verify the accuracy of their payments are subject to substantial audit fees.
The vast majority of the most desirable content is produced and distributed through an entrenched global system that is dominated by a handful of companies and a few privileged insiders who are able to participate in the financing of that content.
“Hollywood Accounting” obscures the true performance of entertainment assets. While a film’s box office is public, this one number represents only a single frame of a movie’s performance.
There is typically no secondary market for a financier’s participation. A sale of an interest requires substantial analysis often from an investment bank.
MovieCoin’s mission is to democratize entertainment industry financing and revolutionize “Hollywood” accounting. The Company is building a technology platform (the “Platform”) on the Ethereum blockchain that will use smart contracts and BANKEX’s Proof of Asset Protocol (“PoAP”) to tokenize movies, television shows and other properties, establish transparent financing and accounting practices, and eliminate friction in processing entertainment industry payments.
At the same time, the Company is developing a cryptographic token (“Moviecoin tokens” or “Moviecoins”) that will be used on the Platform and elsewhere in the MovieCoin ecosystem to denominate and transfer value. The Company believes that by providing transparency and eradicating friction for payment recipients in the entertainment industry, the Platform, the Moviecoin token, and their related tools and technologies will quickly become the prevailing method for investing and engaging in financial transactions in the entertainment economy.
Experienced Project Management
MovieCoin's Principals have cumulatively produced, distributed or structured financing for more than 400 films, generating in excess of $19 Billion in worldwide box office revenue and earning 10 Academy Awards and over 120 Academy Award Nominations.