MovieCoin, a Fintech and blockchain technology company focused on revolutionizing the movie and entertainment industry has announced the launch of its public presale, according to a PR Newswire news release on September 17, 2018.
MovieCoin Bringing DLT to Hollywood
While distributed ledger technology (DLT) is fast disrupting the financial ecosystem, MovieCoin is set to introduce the burgeoning technology to Hollywood, in a bid to revolutionize the film and global entertainment industry.
According to sources close to the matter, the firm has now launched its public token presale after a hugely successful private token presale that generated 2,000 BTC.
For its public presale, MovieCoin has set a hard cap target of 10,000 BTC and participants are required to contribute a minimum of 5 BTC or its equivalent in Ether or Bankex (BKX) tokens.
Bankex is a next-generation blockchain platform with multifunctional smart contracts. The platform is based on the Proof-of-Asset Protocol and its creating same for the MovieCoin project.
MovieCoin Token Presale Information
Unlike most initial coin offerings (ICOs) that issue only one type of token, MovieCoin will be powered by both the MOV utility token and the MovieCoin Smart Fund (MSF) security token.
Per the team, two billion MOV utility tokens are up for grabs at the rate of $0.11 per token, while 250 million MovieCoin Security Tokens (MSF) will be sold at $1 per token, with an early bird bonus of 25 percent.
The presale is live now and will end on October 30, 2018, at 00.00 PST.
In line with standard ICO practices, interested participants are required to complete their know-your-Customer (KYC) procedures.
The MovieCoin Advantage
At a time when bad actors have taken advantage of the seemingly unregulated nature of the cryptospace to organize fraudulent ICO schemes and virtual currency-linked Ponzi schemes, it’s worthy of note that the MovieCoin project is being organized by highly reputed Hollywood veterans like Christopher Woodrow and others.
The chairman and CEO of MovieCoin, Christopher Woodrow has financed and produced a vast array of award-winning feature films. Some of Woodrow’s movies include Birdman, Black Mass, Hacksaw and others.
“MovieCoin comprises content financing and production, business and consumer services, and technology development and licensing,” said Woodrow, adding “The content financing and production business offers ownership of filmed entertainment assets to financial investors seeking institutionalized, programmatic access to financing of premium content.”
The MovieCoin public token sale begins on November 1, 2018, and will end on November 25, 2018. There’s no minimum contribution for the event.