It has recently been announced that tZERO has partnered with BLOQ FLIX, with the intent on financing films through tokenization.
Films are expensive endeavours, which are constantly in need of fundraising. They are also a prime candidate for transformation through the use of blockchain based financing. Recognizing the potential to disrupt the way films are financed, BLOQ FLIX, has set out to do just that.
By turning to tokenization, film projects in need of financing can gain access to large investor pools more easily – increasing the likelihood of successfully completing a project. Tokenization also opens up the potential for investors to capitalize on a lucrative industry – something that has not been possible before.
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As this entire process relies upon tokenization with projected returns, companies utilizing the services of tZERO and BLOQ FLIX are, in turn, distributing securities. As the digital securities sector is a highly regulated one, a registered broker/dealer is required to facilitate the process.
The company chosen by BLOQ FLIX to fill this role is, none other than, JumpStart Securities. We recently reported on JumpStart Securities, as they will also be lending their services to the highly anticipated expansion of MERJ Digital Exchange.
This is not the first time that tZERO has been attached to the tokenization of a film project. We recently reported on a similar partnership, involving tZERO and Vision Tree, which would see the pair facilitate the creation of a Biopic about gaming icon, Atari.
Representatives from each, tZERO and BLOQ FLIX, took the time, upon making their announcement, to comment. The following is what each had to say on this upcoming project.
Saum Noursalehi, CEO of tZERO, stated,
“Our continued goal is to tokenize and trade assets that can benefit from blockchain technology, and digitizing film financing fits this model nicely.”
Brandon Hogan, CEO of BLOQ FLIX, stated,
“… We want to lead this charge to disrupt traditional media financing. By embracing blockchain technology, we are streamlining the film and TV funding process and offering funding access directly to mini-major studios, producers and experienced indie producers.”
Jonathan Self, CEO of JumpStart, stated,
“All of us working together is a huge opportunity for both BLOQ FLIX and investors to facilitate a vision of how media could now be financed. There are enormous synergies in our solution that will enable us to drive immediate value.”
tZERO is a product of Medici Ventures – a blockchain focused subsidiary of Overstock.com. The company is headquartered in New York, and focuses on the development of solutions for advancing the digital securities sector.
CEO, Saum Noursalehi, currently oversees company operations.
This young company looks to revolutionize the way small and medium budget films are financed. They are doing so through the use of blockchain technologies, allowing for the tokenization of said films.
CEO, Brandon Hogan, currently oversees company operations.