tZERO, a subsidiary of Overstock (NASDAQ:OSTK) has formed a partnership with Bloq Flix, LLC, to tokenize films, according to a release.
Bloq Flix claims to be the “first blockchain entertainment financing company.”
tZERO said that Bloq Flix will utilize its tokenization protocol technology to tokenize films and JumpStart Securities will serve as the placement agent for these digital securities.
tZERO CEO Saum Noursalehi said they will bring a secure and innovative investment alternative to film financing.
“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, Bloq Flix CEO, said that Hollywood’s entertainment finance structures need to evolve:
“… 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.”
Bloq Flix reports that, to date, it has financed 30 entertainment projects. According to the Bloq Flix website, the company has formed relationships with multiple studios having participated in a series of feature films.
Some digital asset participants believe the advent of tokenization will help fuel a new ecosystem of non traditional assets which can be securitized. Assets such as film, or real estate, art, and more, may become investable assets on platforms like tZERO.
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