Swiss-based independent film production company A Ken Evil Thing has created an Ethereum smart contract to fund their low-budget independent film project titled “The Pitts Family Circus,” offering limited 666 shares of the movie to interested investors.
In a press release sent to CoinReport, the company said that theirs will be the first ether (ETH)-financed movie (ether/ETH is the cryptocurrency/altcoin/token of the Ethereum network like bitcoin is the digital currency of the bitcoin blockchain) and will be produced from the early 2017 in West-Australia, Melbourne and in the Alps of Switzerland.
Shares are 10 ETH each, but investors can buy fractional parts of a full share also. The film production firm said investors will receive an ether-based return on investment (ROI) for the next 20 years, explaining that the shareholders will be receiving 50 percent of the yearly profit after tax until the year 2036.
https://coinreport.net/swiss-film-firm-creates-ethereum-smart-contract-to-fund-indie/
Topic: [2016-09-14] Swiss film firm creates Ethereum smart contract to fund indie (Read 309 times)
September 13, 2016, 10:47:59 PM
Jump to: