ABOUT MOVITOKEN
Producing films today require high budgets amid increasing demands from participants (studios, distributors and moviegoers). Hollywood produced three different categories of films in the early 2000’s: big-budget (blockbusters), specialty films and niche-market films (produced by conglomerate owned indies), and genre and specialty films from true indie studios and producers.
Genre and specialty films have a production cost of $5 and $10 million and make up more than half of United States released features. The cost of production is extreme and impacts on the career handicapped members of the movie industry financially. Sometimes the high cost of movie production puts the career of some members of the movie industry in jeopardy and thus leads to many of them abandoning it. Financially unfortunate members sometimes forego payments for their services in a bid to make a career. In some cases, movie producers make movies on a meagre $10,000 and in such situations every penny gets spent solely on the production and nothing else. Not even a single person gets paid.
However, MoviToken, created by Christopher Compton, a 13-year film veteran, is a project managed by Southern Meridian, LLC, and has been set up to remedy the issues facing movie production. The MoviToken is an ERC20 + VERIFIED cryptocurrency for the global independent film community. With MoviToken, issues of low or non-payment of services, and deferred agreements plaguing the movie community will be put to rest. This will be achieved via the MoviToken (MOVI) which producers can use to pay talent and crew where fiat money is limited or unavailable. Cast and crew can exchange MoviTokens that are paid them for Ethereum and then to USD, BTC, altcoins, token or fiat currency via exchanges and dApps that are integrated with the Ethereum blockchain. Essentially, MoviTokens will be used to finance movies on the Ethereum blockchain.
DETAILS ON MOVITOKEN (MOVI)
There is a total supply of 1 billion MoviTokens. It is possible to buy and sell MoviToken through https://easytrade.io/buy/MOVI. At the moment, MOVI is already trading on exchanges like https://idex.market/eth/movi, https://forkdelta.github.io/#!/trade/MOVI-ETH, https://ethex.market/#MOV, https://rektex.github.io/#!/trade/MOVI-ETH. Note that selling, buying or trading MoviToken does not make anyone a stakeholder or owner in the MoviToken project, Southern Meridian, LLC nor Movitoken produced films. Investors and producers should note that filmmakers can raise funds from investors in MoviToken to fund their film projects. This can be done independently of Southern Meridian, LLC and the MoviToken team. In this light, any MoviTokens exchanged will become a security. However, it should be noted that any funds raised (investments) to fund movie projects will be subject to an investor agreement. Producers should consider securities and exchange rules and regulations of their jurisdiction prior to seeking investors.
NB: MoviTokens is currently not a substitute method of payment for union members according to the following Unions: IATSE, SAG, DGA, WGA, PGA, etc. Also, MoviToken smart contract is https://etherscan.io/token/0x623b925b0a57a24ea8de301f2e3e692ce903f0c3.
APPLICATION OF THE MOVITOKEN
The independent film community gains power from trading MoviTokens as it allows producers to completely use a community currency on movie projects. It also limits the use of cash. Some use cases are:
• Crowdfund with MoviToken only, then trade on exchange
• Cast and crew can be paid with MoviToken
• Utilize MoviToken with investors, keeping accountability on the blockchain
• Producers can make request from distributors for payment, in MoviTokens.
• MoviToken can be accepted for services
BENEFITS OF USING MOVITOKENS
The use of MoviTokens will drive movie inventiveness and ingenuity and will stop cash from going out of the movie community. It will ensure that cash is circulated within all film communities all over the world. In addition, MoviTokens will foster trust and support within the indie film community. The MoviToken allows everyone to participate and contribute to the indie film community.
TOKEN DISTRIBUTION
250 million MOVI - Southern Meridian, LLC
250 million MOVI - TBA Production Studio
500 million MOVI - Market
ROADMAP
Q2 2018
• MoviToken will partner with Bancor for continuous liquidity. This alone can promote trust and use within the indie film community.
• The first production studio to adopt the use of MoviToken will be announced.
Q3 2018
• The first feature film to be produced with MoviToken will be announced.
• MoviToken will partner with a crowdfunding platform to assist filmmakers with raising funds for their projects.
• Production to begin on the first MoviToken funded feature film. (late Q3)
Q4 2018
• By Q4 2018, MoviToken should be listed on more than 1 major exchange and incorporated by several dApps. MoviToken is currently working on becoming listed by Komodo’s BarterDEX and ETHlend’s Lending Platform.
2019
• Release of the first MoviToken funded feature film.
2020-2022
• Southern Meridian, LLC will publically release the first of several case studies on the use of MoviToken to produce a motion picture. Data and findings will be provided by an independent research firm. (The exact date is highly dependent upon distribution schedule).
Film production will be made easy globally with the MoviToken as issues of securing finances for movie production will be put to rest.
I, therefore, urge everyone to become a part of the MoviToken ICO event.
Feel free to visit the MoviToken website or whitepaper for more details on this project. You can also visit the MoviToken Telegram channel to connect with other unique participants across the globe:
Website: http://movitoken.com/
Whitepaper: https://img1.wsimg.com/blobby/go/bc2ac489-d696-49a8-9912-376a7c9dab88/downloads/1c9nfcila_247342.pdf
ANN thread: https://bitcointalk.org/index.php?topic=2680192.0
Facebook: https://www.facebook.com/movitoken
Twitter: https://twitter.com/movitoken
Telegram: https://t.me/movitoken
Authored by:
bitcointalk name: minhprok5a
Link to Bct Profile: https://bitcointalk.org/index.php?action=profile;u=1289138
Address ETH: 0x2414fd4a40E5893A42DE60BEb200ccc774B45481
