Producing movies today require high budgets amid growing needs from individuals studios, distributors, and moviegoers. Hollywood produced three distinctive classes of films in the early 2000’s: big-budget blockbusters, specialty films and niche-market motion pictures produced by means of conglomerate owned indies, and style and strong point videos from proper indie studios and producers.
Genre and strong point films have a production value of $5 and $10 million and make up more than half of United States released features. The cost of production is severe and effects on the career handicapped members of the movie industry financially. Sometimes the high value of movie manufacturing puts the profession of some participants of the movie enterprise in jeopardy and for this reason, leads to many of them forsaking it. Financially unlucky participants sometimes forego payments for their services in a bid to make a career. In some cases, film producers make films on a meager $10,000 and in such situations, every penny receives spent totally on the production and nothing else. Not even a single person gets paid.
MoviToken was created by Christopher Compton, a veteran of film since 13 years ago, a businessman and working with Southern Meridian, LLC.and has been set up to remedy the issues dealing with film production. The MoviToken is an ERC20 + VERIFIED cryptocurrency for the international impartial film community. With MoviToken, problems of low or non-payment of services, and deferred agreements plaguing the movie community will be put to rest. This will be achieved through the MoviToken which producers can use to pay brain and crew the place fiat money is limited or unavailable.
Users and teams can redeem the MoviTokens to Ethereum token and then to USD, BTC, altcoin, tokens or fiat currency can be redeemed with applications integrated with Ethereum blockchain. but basically, MoviTokens will use it to fund the film on blockchain Ethereum.
The MoviToken is tradable on blockchain as a complementary forex for use inside the impartial film neighborhood (productions of film, TV, net series, documentary, etc.). At the moment, MOVI is already buying and selling on exchanges like :
That selling, buying or buying and selling MoviToken does no longer make everybody a stakeholder or proprietor in the MoviToken project, Southern Meridian, LLC nor Movitoken produced films. Investors and producers must notice that filmmakers can increase money 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 grow to be a security. However, it ought to be cited that any funds raised (investments) to fund movie tasks will be issued to an investor agreement. Producers need to think about securities and trade policies and rules of their jurisdiction prior to seeking investors. Notwithstanding, the MoviToken can be used together with or in the location of any fiat currency in any way worldwide, provided it is legal.
MoviTokens is presently now not a replacement method of payment for union members according to the following Unions: IATSE, SAG, DGA, WGA, PGA, etc. Also, the MoviToken clever contract is
The unbiased movie neighborhood positive aspects energy from trading MoviTokens as it approves producers to definitely use a neighborhood foreign money on movie projects. It additionally limits the use of cash. Some use instances are:
- Crowdfund with MoviToken only, then alternate on the exchange
- Cast and crew can be paid with MoviToken
- Producers can make a request from distributors for payment, in MoviTokens.
- MoviToken can be universal for services
The use of MoviTokens will drive movie inventiveness and ingenuity and will end money from going out of the film community. It will make sure that money is circulated within all film communities all over the world. In addition, MoviTokens will foster trust and guide within the indie film community. The MoviToken approves anyone to participate and make a contribution to the indie film community.
Film manufacturing will be made easy globally with the MoviToken as issues of securing funds for movie manufacturing will be put to rest. Also, those involved will be capable of without difficulty increase a profession in the movie industry, placing previous challenges to rest. Should money be a challenge, the MoviToken can stand in thereby making sure that gifted people take their opportunity, subsequently giving movie viewers and distributors excessive satisfactory options. Essentially, with MoviToken, impartial filmmakers, aspiring actors and cinematographers can get the chance to produce quality contents they have dreamed of making.
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