MovieCoin - The Fintech Platform for the Entertainment Industry
The entertainment and film industry is one of the most profitable areas. As of today, the annual income of this industry is $ 2 trillion. It consists of television programs, commercials, music, videos, movies and more. Today, about a third of this industry is the US market. According to preliminary forecasts of experts, its revenues in 2021 may increase to 804 billion dollars.
However, the disadvantage of this sphere is that it is managed by giant companies that independently set prices for premium content, manage licenses, production process, marketing, actors ' wages and a number of other processes. All this leads to the fact that all financial power is in the hands of one particular person.
To change this situation and to provide these powers in the hands of ordinary users will allow the project MovieCoin.
The main objective of the project MovieCoin is the establishment of a transparent financial trail in the entertainment industry to ensure that every actor, Director and another member of the shooting process could ensure a fair distribution of funds. In addition, transparency will allow to establish a number of other production processes in the entertainment industry and significantly accelerate the release of films, TV series and other interesting projects for the consumer.
To achieve this goal and ensure transparency of the financial chain in Hollywood and other areas of entertainment, the developers plan to use the unique ecosystem MovieCoin. The main components of this system are:
- platform MovieCoin using smart contracts;
- MovieCoin tokens, which are internal coins to simplify business and provide opportunities for ordinary consumers to participate in the creation of movies, TV series and other products;
- MSF – Fund for the financing of content production;
- Asset MovieCoin is a way of raising funds for the creation of hotel content;
- the exchange terminal MovieCoin, allowing the user to trade securities;
- MovieCoin Smart Asset is a utility that verifies agreements and intellectual property rights.
The main resource of the ecosystem are MovieCoin coins, which can be used by investors, Directors and even ordinary users. These coins allow you to acquire intellectual property rights to a particular project, pay for advertising costs, buy content and much more. However, at the moment the capabilities of this platform are limited. In the future, automatic contracts will be added to the token functions, allowing you to pay:
- airline services;
- equipment rental;
- services of construction workers, creating scenery;
- insurance company services;
- pension contribution;
- tax payment;
- salary of actors.
Also, the platform will have a specialized Converter that allows you to transfer MovieCoin tokens to other currencies.
This project will have 3 stages of development. During the first stage, the platform will sell tokens and test its main functions.
The second stage of development involves the involvement of third parties and consumers in the platform to create new interesting content in the form of television programs and films.
The third stage is the global use of MovieCoin tokens as a means of payment in any commercial or corporate transaction between The company and the client.
All this will allow MovieCoin tokens to become the main financial resource used in Hollywood.
The project will be released 2 billion coins, of which the developers plan to sell 600 million. The cost of the 1st token will be 0.00025 ETH.
The hardcap of the project is 150 thousand ETH.
Other information about the dates and details of the ICO is currently missing.
The distribution of tokens is as follows:
MovieCoin project is a kind of modernization of Hollywood to version 2.0. This platform can become very popular for several reasons, one of which is to ensure transparency in the financial chain. Thanks to this, each investor will not only be able to invest wisely, but also be able to track for what purpose they were spent and to what extent.
In addition, the Blockchain technology used in this ecosystem will improve a number of processes, making the production of films, series and TV shows faster and less expensive.
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