Decentralized funding in many areas is gaining popularity, including the movie industry which continues to gain interest from companies such as Proxicoin and Coinbase.
Recent moves from startup Proxicoin could introduce a new aspect to filmgoers experiences, actually giving them some input into what comes out of huge markets such as Hollywood. The idea is to enable users to actually own shares in film projects through blockchain.
The company could be the first of many to tap into this profitable market, already receiving a USD 100 million from a Hong Kong investor, heralding in yet another use for blockchain as the list of applications for the technology appears to grow daily. Backed by Coinbase this startup may well have started a whole new way for investors to influence their entertainment, as a recent press release outlines:
“Individual film or television projects will undertake an IPO to be given liquidity and be easily traded with transparency, providing an efficient avenue for filmmakers seeking financing for the growing demand for new content. ESX currently 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.”
The appeal now is for an increase in platforms such as this which enable users to influence production, content, and output, and for those with families to be rewarded financially for having a say in what their children watch on film. Blockchain is now making the unthinkable possible, allowing the viewing public a share in what could become a trillion-dollar market over time.
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