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RE: BRAID THE MOVIE: A Crowdsale Experience
Do you think that, as the value of paper money continues to decline and the value of cryptocurrency continues to increase and be accepted in the world market, that this will be the way artists will fund the majority of their future projects?
We can already see the good that crowdfunding has done for the creative world, do you think there are drawbacks?
Interesting questions. On the first point, yes I think this opened an alternative way for artists to fund their projects. The crowdsale outcome of course, will be based on the merit of these projects- or at least the investors' view of it.
On the second point, possible drawback i can see is whales jumping on board once this become mainstreem. Proper planning of ico can address this though.
Thanks for taking time to answer.
And thank you for your worthy question :)
On the first point no. An ICO is in effect an IPO with a different name. The major concern as I wrote about in my post about this production is that when 100% of shares are sold the production no longer has ownership over the final project. This is an investment crowd fund and no longer a gift like kickstarter. If you have invested you have ownership.
The major problem with this film is the repayment model. They are not sharing equity in the longterm investment. They are preferring to treat the tokens as a short term loan with +15% back immediately on initial investment. traditionally equity partners receive half of the ongoing profits not 30% as in the case of this offering. If you would like to read my post hop on over to @bruckdashel
Wow. Thanks for responding so thoroughly. It's good to see another perspective on the whole thing.
I have financed features and worked in the industry for over a decade. Go ahead and read my article. I address many of the concerns with this film. I think ICOs are a great way of bringing in equity investors, but if producers are already making false claims about being the first film to ICO then I think we have a greater trust issue at stake.
https://steemit.com/steemit/@bruckdashel/braid-movie-false-claims-about-being-first-blockchain-movie-article-attached
@bruckdashel thank you for sharing your insights on this, your extensive knowledge of the industry is quite evident.
As a first time investor on films, I am still quite happy on what the team is willing to give back in exchange of the financial support they are receiving. Still excited about the project and am looking forward to its success.
I'll be reading more of your posts to learn a thing or two about the industry. :)
Cheers! I definitely see it as a future option for democratizing the financing of films. I wish the project and you the best. These are "investments" and as such if it does well an investor is due the fair and equitable return on shouldering the financial risk 😊 thank you for taking the chance on indie film. You never know it may work and you'll reinvest in another project! Hopefully one of mine 😊
Yay! I will look forward to yours, with such mentality on giving what is due to investors, I think both my creative(?) and financial thirst will be quenched 😊
Unfortunately the first lesson I learned was that you must have financial to have creative. I begets the other. Checkout my current feature film www.grindermovie.com we just played in 🇮🇳 Mumbai India last month!
Will definitely check it out =^_^=
Btw, what do you think of 21Million ico?
I think a few of the individual solutions are there to finance a studio or production but there isn't a platform that brings them all together. Most people will only have access to Fiat currency for at least the short-term future. A platform must take fiat from investors and audience members, peg that to individual tokens and then serve up content from decentralized storage (to prevent piracy) and pay out investors. I think a system which is built to handle the whole process would require a number of individual tokens. You could even combine mineable tokens with pre-mined tokens if you think about it. I was working on a flowchart for it last night and it spun my head around three ways to Sunday even thinking about the logistics. I do think it will be done though, just not now.