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Title: [2016-09-14] Swiss film firm creates Ethereum smart contract to fund indie Post by: CrimBit on September 14, 2016, 03:47:59 AM Swiss-based independent film production company A Ken Evil Thing has created an Ethereum smart contract to fund their low-budget independent film project titled “The Pitts Family Circus,” offering limited 666 shares of the movie to interested investors.
In a press release sent to CoinReport, the company said that theirs will be the first ether (ETH)-financed movie (ether/ETH is the cryptocurrency/altcoin/token of the Ethereum network like bitcoin is the digital currency of the bitcoin blockchain) and will be produced from the early 2017 in West-Australia, Melbourne and in the Alps of Switzerland. Shares are 10 ETH each, but investors can buy fractional parts of a full share also. The film production firm said investors will receive an ether-based return on investment (ROI) for the next 20 years, explaining that the shareholders will be receiving 50 percent of the yearly profit after tax until the year 2036. https://coinreport.net/swiss-film-firm-creates-ethereum-smart-contract-to-fund-indie/ |