BlockFilm will be the first leading independent blockchain-based film financing platform in the space. The Canada-based production platform will be supported through a strategic partnership with TokenFunder. Innovative Command of Liberation by Ontario Securities Commission (OSC), paving the way for this ‘tokenized’ production financing opportunity to occur.
The decision follows a rigorous process carried out by the OSC Launchpad team
and helps investors in content production avoid waiting years before monetizing their investments, and gives producers access to a wider pool of investments. It’s also possible BlockFilm to bring content producers – both established and emerging – together with accredited investors to finance independent media production. The platform supports the creation of suitable financial instruments (security tokens) to fund and support project budgets.
Security tokens (covering equity, debt and/or profit-sharing financing methods) represent the underlying fractional ownership or debt instrument giving content producers unprecedented and efficient access to new sources of private capital.
Gamechager for content producers
What do award-winning stellar producers Damon D’Oliveira, Mary Young Leckie, Ina Fichman, J. Todd Harris and Roland Joffé have in common? They are part of a growing industry of leaders who agree that BlockFilm is a gamechanger for content producers. Top-earning Canadian producer Mary Young Leckie knows how hard creators have to work to finance their projects, and how many stakeholders are involved in the various funding steps. For Mary, BlockFilm was “a much simpler, more democratic, and less painful way to finance a film, and couldn’t come soon enough.”
In addition to the OSC exemption, BlockFilm is pleased to announce that it has partnered exclusively with TokenGX, an Excluded Market Dealer operating the innovative TokenFunder.com security token investment and issuance platform, to join forces and cater to investors looking to invest in the security of content producer BlockFilm. token. In addition to a fully digital Know-Your-Client onboarding and investment process, TokenFunder creates and distributes project security tokens to investors’ digital asset accounts—a process that will enable them to be digitally traded in the future.
Previously, film industry investors had to wait for a full cycle of project distribution channels (seven to ten years, or even longer) to monetize their investments.
“We are very excited about this partnership with TokenFunder. Backed by blockchain integrity, security and transparency, we are responding to challenges our industry has faced for decades,” said Pauline Couture, Co-CEO of BlockFilm. “BlockFilm’s solutions for producers and investors are unmatched today and demonstrate the true global leadership of OSC. BlockFilm will be transformational for content producers and investors.”
Alan Wunsche, CEO of TokenGX and TokenFunding, said: “It is exciting to think that we will be developing an entirely new class of investment product for investors seeking new forms of return in this low interest rate environment, while providing wider access for the arts community to funding and deepening fan engagement. more cost-effectively.”
The BlockFilm/TokenFunder partnership will, in the future, allow content producers to reward their fans and investors in the form of tokens that can be collected or redeemed for film and production industry experiences and more. Ultimately, community members will be able to offer support to content producers through direct donations. Fans, known as “champions”, will also be able to earn prizes for supporting the project 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 CAD in the next 4 to 6 months. With 50 ongoing projects currently and enormous ongoing interest, BlockFilm anticipates helping fund more than 100 projects by the end of next year, with a projected total increase of $175 million CAD.
Accredited investors can invest in these international projects today, as long as they comply with local laws in their own jurisdictions, and will be able to resell their tokens to other accredited investors on the TokenFunder marketplace – an industry first.
“BlockFilm was conceived and designed to support the great need among producers to access new sources of financing,” said Suzette Couture, Co-CEO and Chairman of the board of BlockFilm. “Content producers in Canada and around the world will greatly benefit from our innovative new platform as they connect to the global community of investors and champions who can now discover and invest in their work.”
BlockFilm is designed to showcase projects of every genre and format while promoting content with social impact causes at their heart, so investors can connect to the ‘stories that matter’ and harness the power of their investment as a way to engage in causes they want to support. The projects will spark fan and community passion on key topics such as: environment and sustainability; human rights; Custom Society; LGBTQIA2S+ people; People of Color; social and political problems; and women
and gender issues.