A $25 million movie fund is being tokenised by both Liechtenstein Cryptoassets Exchange (LCX) and the well-known actor Wesley Snipes.
Best known for his recurring role in the Blade series, Snipes is an actor, film producer, author and all-round talented guy.
Initially reported by Cointelegraph auf Deutsch this week, the partners aim to release a fully compliant security token offering (STO) through Liechtenstein’splatform and blockchain infrastructure.
The tokenised $25 million “Daywalker Movie Fund” (DMF) will be pumped into future tv shows and movies produced by the famous actor and his production studio, Maandi House.
Launching an STO will allegedly lower the entry barriers for both institutional and retail investors, enabling movie fans to invest alongside established Hollywood producers and actors like Snipes.
“The DMF Token will offer investors a share in the profit of the fund’s productions, as well as conferring extra benefits such as invitations to move premieres. All profits will be reinvested in the DMF Token to boost its long-term value.
DMF will be managed by an investment committee of professional fund managers, alongside Dr. Snipes. LCX’s blockchain technology platform will not only host the STO, but handle registration and identity verification for all prospective investors.”
This isn’t the first time actors and big-time Hollywood stars have got involved with cryptocurrencies. Last year, Johnny Depp teamed up with crypto-powered social entertainment platform TaTaTu to create and produce film and digital content together.
Ashton Kutcher (That ’70s Show, Two and a Half Men) even donated $4million in XRP to Ellen Degeneres’ Wildlife Fund in May last year.
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!