Hi everybody! I’ve got an idea, and I’m going to describe it below.
If you are an expert in ICO, cryptocurrency and blockchain give me your feedback please! I will be very thankful to you.
So I’ve been running a business for 10 years, and the last few years have been devoted to films. And it so happened that those films are in Hollywood. But business is closer to my heart so the following idea has emerged:
To launch a platform for investing in the world professional video-content (movies and series). There are many opportunities to contact movie investors and content creators, who are already want to use this platform.
What content will be at the platform?Movies (documentaries, feature films, cartoons), TV-series.
Participants of the platform are content creators (filmmakers), investors and distributors.
Are there no such platforms?Yes, there are some attempts to create them:
https://www.movieinvestor.com/https://welcome.slated.com/https://voyagemedia.com/https://www.indiercowdfunder.com/https://horroequityfund.com/https://www/jewcer.org/https://fundrazr.com/https://pozible.com/https://www.kickstarter.com/https://www.seedanspark.com/https://www.indiegogo.comhttps://www.gofundme.com/What they have in common is that they don’t use all the opportunities at the market. They don’t see an opportunity to work with Hollywood films either. The majority of them are standard crowdfunding. Investing your money you get a T-shirt or a poster. But not profit! Nobody gives an investor a simple and effective tool of investing money into movie making and getting profit.
How will it all happen at the platform? The content creator (Production company or filmmaker) adds his project of the film (or any other content) to the platform. The project is presented at a specific pattern, it is inspected and verified. After that the project is going to voting. Distributors and investors vote. Voting lasts for a week, after that the project is going for investing. Any registered investor gets an access to the project and the results of voting and can make an investment in the particular project. After investing has been closed, the sum of money is in the smart-contract which gives to content creator by a definite sum of money at each step of production. Content creator gets a part of investments, does their work and reports on it. Investors approve of it by a majority of votes. The platform accompanies and controls every project; it arbitrates and escrows each of them.
After production is finished, the project going for sale between distributors. All offers of distributors are seen by investors of the project and then they choose a winner by voting. The winner gets specified rights to distribution and pays for them (Minimum Guarantee + % from fees). All money from distributors is collected by the platform and goes to the smart-contract, which in its turn distributes it between the right holders (investors, content creator, and other participants of the project). Therefore, everybody get its share at once from the first payments (Minimum Guarantee), and then during the whole “film life” the right holders get their shares from charges, DVD sales, sales on channels and digital distribution.
Why blockchain? (
At this very moment I understand that I can get under the attack of super critics. Will I be glad because of it!?)
The platform will use blockchain for securing and controlling transactions between users because of many reasons:
1. Accountability of all operations.
2. Absence of blockchain mediators. Due to the peer-peer principal it’s possible to conduct transactions between investors and producers without any third parties.
3. Low investment threshold.
4. Absence of currency barriers. Using tokens as the charge-back mechanism will allow the platform ignore currency barriers in situations when investors and producers are in a number of different countries, and it will create a standard for report writing.
5. The copyright law. New concept or application for making a film will be recorded in blockchain. Therefore the author of each idea can be found even if there are many participants in the project.
What tokens are for?Tokens are key elements of the ecosystem of the platform; it lets investors, producers, and distributors transfer money both for investing in a new project and for buying the rights to the content and the profit distribution quickly and securely. At the moment of the profit distribution all the rights holders will get tokens to their accounts. They will be able to sell them with the help of the platform if they wish or they will be able to sell them themselves at cryptocurrency exchanges, where tokens are present. Users can freely withdraw tokens from the platform and exchange them for other cryptocurrency or fiat funds. Implementation of cryptocurrencies is a logical solution for the decentralized platform especially if we take into consideration problems with transparency of financial payments which exist in the traditional film industry.
I have many ideas still. All that I’ve written is put in a nutshell… I would really like to get some constructive criticism…
