BlockFilm is the leading blockchain-based Film Financing Platform following revolutionary OSC Exemption Order
BlockFilm is to be the first independent and leading blockchain-based movie financing platform in the domain. The Canada-based production platform will be driven by a strategic collaboration with TokenFunder. A groundbreaking Exemption Order by the Ontario Securities Commission (OSC), paved the way for this “tokenized” production financing opportunity to occur.
The decision follows robust procedures carried out by the OSC’s Launchpad team and assists investors in content production avoid several-year waits prior to monetization of their own investment, and provides producers access to broader pools of investment. It also facilitates BlockFilm to bring together content producers, both experienced, and new, with accredited investors to provide financing for independent media productions. The platform facilitates the creation of compliant financial instruments (security tokens) to fund and assist project budgets.
The security tokens (encompassing equity, debt and/or revenue share strategies of financing) signify the underlying fractionalized ownership or debt instruments that furnish content producers with unforeseen and effective access to new sources of private capital.
Gamechanger for content producers
What do award-winning star producers Damon D’Oliveira, Mary Young Leckie, Ina Fichman, J. Todd Harris and Roland Joffe, amongst others, share mutually? They are aspect of an increasing number of industry leaders who concur that BlockFilm is a gamechanger for content producers. Lead grossing Canadian producer Mary and how many stakeholders are involved in the several steps to financing. For Mary, BlockFilm is a “far simpler, more democratic, and a low pain way to fund a film, and cannot come quickly enough.”
On top of the OSC exemption, BlockFilm has made an announcement that it has collaborated exclusively with TokenGX, an Exempt Market Dealer operating its revolutionary TokenFunder.com investing and security token issuance platform, to onboard and sever investors with a desire to make investments in BlockFilm content producer’s security tokens. On top of its completely digital know-your-client onboarding and investment procedures, TokenFunder develops and distributes the project’s security tokens to investor’s digital asset account – a procedure which facilitates them to be digital traded in the future.
Historically, film industry whales and investors had to sit out the complete lifecycle of a project’s distribution path (seven to ten years, or even longer) to monetize their investment.
“We’re thrilled about this partnership with TokenFunder. Backed by Blockchain integrity, security, and transparency, we are proactively responding to challenges our domain has encountered for decades,” states Pauline Couture, Co-CEO of BlockFilm. “The BlockFilm solution for producers and investors is not capable of being matched presently and demonstrates actual global leadership from the OSC. BlockFilm will be revolutionary and incite a paradigm shift for both content producers and investors.
Alan Wunsche, CEO of TokenGX and TokenFunder stated” “It’s exciting to think that we will be developing a completely new class of investment for investors who are looking for new types of returns for the arts community to ensure they get funded and reinforce fan engagement in a more affordable fashion.
A brilliant future
The BlockFilm/TokenFunder collaboration and partnership will, in the future, facilitate content producers to issue rewards to their following, their fans and investors in the shape of tokens that can be collected or redeemed for film and production industry experiences and more. Ultimately, members of the public will be capable of offering support to content producers via direct donations. Fans, referred to as “champions”, will be also be able to obtain rewards for supporting projects via their personal social media channel.
During launch, BlockFilm’s initial 11 projects were from Canada, Europe, and the UK intend to raise $19.1 million CAD in the following 4 to 6 months. With 50 projects in the pipeline at this juncture and enormous continuous interest, BlockFilm anticipates assisting to fund more than 100 projects by the conclusion of the coming year, for an estimated cumulative total raise of $175 million CAD.
Accredited investors can make investments in these international projects presently, as long as they are compliant with localized laws in their own jurisdictions, and will be able to resell the tokens they own to other accredited investors in the TokenFunder marketplace – an industry first.
“BlockFilm is conceived and developed to facilitate an immense requirement among producers to evaluate new sources of financing,” states Suzette Couture, Co-CEO and Chair of BlockFilm’s board. “Content producers within Canada and all around the planet will majorly benefit from the revolutionary new platform as they link up to an international community of investors and champions that can currently discover and make investments in their work.”
BlockFilm is developed to display projects of each genre and format while making promotions of content with social impact causes at heart, so investors can link up with “stories that matter” and harness their investing power as a way of facilitating engagement in causes they wish to assist. Those projects will ignite the passions of fans and societies on critical topics like: the environment and sustainability, human rights, indigenous peoples, LGBTQIA2S+ people, individuals of colour, social and political issues, and women and gender-related problems.