Ryan Kavanaugh, current executive of Warner Bros. Pictures, along with his team, has released over 200 movie including Dear John, Immortals, Limitless, The Fighter and many more.
Kavanaugh was also behind a groundbreaking financial contract for Marvel Studios. This deal resulted in the establishment of MCU (Marvel Cinematic Universe). The first MCU movie was Iron Man, which was released in 2008. Other MCU movies include The Avengers Series, Ant-Man and Captain America.
Backed by Venture Capital firms Step Ventures and the Central Wealth Investment Fund of Hong Kong, Kavanaugh is launching an altcoin called Proxicoin that makes use of the Ethereum technology with the purpose of giving investors the opportunity to finance movies and television.
Exploiting utility tokens which will be traded and listed on Fusang, a Hong-Kong based crypto asset exchange, investors will acquire a partial ownership of media projects.
On the other hand, there is an ongoing project of a trading platform for investors called Entertainment Stock X (ESX) that will assist individuals or businesses in partaking of crowdfunding campaigns via IPOs. The platform will launch by the end of 2019.
“Entertainment Stock X right now has contracts for listing on more than thirty major movie projects and is anticipated to have a large share of 600 large movies and TV shows every year,” The compay’s media statement read.
“This is a transformative move in the entertainment industry. Proxicoin makes a highly in demand product accessible for the mainstream. Traditionally, movie is an asset class that is not linked to capital markets and is a competitive asset class for large hedge funds and banks,” added Vincent Tse, the CEO of Step Ventures.