BlockFilm is set to become the first independent and leading blockchain-based film financing platform in the space. The Canada-based production platform is operated through a strategic partnership with TokenFunder. A groundbreaking waiver from the Ontario Securities Commission (OSC) paved the way for this “tokenized” production finance opportunity.
The decision follows a rigorous process carried out by the OSC’s Launchpad team
and helps content production investors avoid multi-year waiting times before monetizing their investments, and gives producers access to larger investment pools. It also enables BlockFilm to match content producers – both established and emerging – with accredited investors to fund independent media productions. The platform supports the creation of compliant financial instruments (security tokens) for financing and supporting project budgets.
The security tokens (which cover equity, debt and / or income sharing methods of financing) represent the underlying fractional ownership or debt instruments that provide content producers with unprecedented and efficient access to new sources of private capital.
Game chager for content producers
What do the award-winning star producers Damon D’Oliveira, Mary Young Leckie, Ina Fichman, J. Todd Harris and Roland Joffé have in common? You are part of a growing number of industry leaders who agree that BlockFilm is a game changer for content producers. Top-selling Canadian producer Mary Young Leckie knows how hard creatives have to work to fund their projects and how many stakeholders are involved in the various steps to get funding. For Mary, BlockFilm is “a much easier, more democratic, and less painful way to fund a film and it can’t come soon enough.”
In addition to the OSC exemption, BlockFilm is pleased to announce that it has entered into an exclusive partnership with TokenGX, an exempt market dealer who operates its groundbreaking TokenFunder.com investment and security token issuing platform to attract investors interested in the security of BlockFilm content producers want to invest, take on board and serve them tokens. In addition to its fully digital know-your-client onboarding and investment process, TokenFunder creates and distributes the security tokens of the projects to the digital asset accounts of the investors – a process that will enable them to be traded digitally in the future.
Until now, film industry investors had to wait the entire life cycle of a project’s distribution channel (seven to ten years or more) to monetize their investment.
“We are pleased about this partnership with TokenFunder. Supported by blockchain integrity, security and transparency, we respond to challenges that our industry has been facing for decades, ”says Pauline Couture, Co-CEO of BlockFilm. “The BlockFilm solution for producers and investors is unmatched today and shows the true global leadership of the OSC. BlockFilm will make a difference for both content producers and investors. “
Alan Wunsche, CEO of TokenGX and TokenFunder, said: “It is exciting to think that we will develop a completely new class of investment products for investors who are looking for new forms of returns in this low interest rate environment while at the same time offering wider access for the art community, to secure funding and to deepen the fan engagement more cost-effectively. “
A bright future
The partnership between BlockFilm and TokenFunder will enable content producers in the future to give their fans and investors rewards in the form of tokens that can be earned or redeemed for experiences in the film and production industry and more. Eventually, the public will have the opportunity to support content producers through direct donations. Fans known as “champions” can also earn rewards for supporting projects through their personal social media channels.
At launch, BlockFilm’s first 11 projects from Canada, Europe and the UK aim to raise $ 19.1 million over the next 4 to 6 months. With 50 projects currently in the pipeline and tremendous continued interest, BlockFilm expects to fund more than 100 projects with estimated total revenues of $ 175 million by the end of next year.
Accredited investors can invest in these international projects today as long as they can comply with local laws in their own jurisdictions and resell their tokens to other accredited investors on the TokenFunder marketplace – an industry first.
“BlockFilm was designed and developed to meet producers’ immense needs for access to new funding sources,” said Suzette Couture, Co-CEO and Chair of the Board of Directors of BlockFilm. “Content producers in Canada and around the world will benefit greatly from our groundbreaking new platform as they connect with a global community of investors and champions who can now discover their work and invest in it.”
BlockFilm was designed to present projects of every genre and format while promoting content that focuses on social impact, so that investors can connect with “stories that matters” and use their investment power to achieve causes that support them want. These projects will ignite the passion of fans and communities on key issues such as: the environment and sustainability; Human rights; Indigenous peoples; LGBTQIA2S + people; Coloured people; social and political issues; and women
and gender issues.