Hollywood Producer Plans Initial Coin Offering to Fund Films

Producer Christopher Woodrow (“Birdman,” “Black Mass,” “Hacksaw Ridge”) is about to launch MovieCoin, his own blockchain token, based on his certainty that the cryptocurrency will revolutionize filmmaking. Monies raised in the initial coin offering (ICO) in Q1 2018 will be used to produce a slate of films. Investors, says Woodrow, will benefit because the tokens, which can be traded, will appreciate as the film succeeds. He is currently developing projects that will include top movie stars, directors and producers.

Bloomberg reports that, “the target is to sell $100 million of tokens that will be compliant with Securities and Exchange Commission regulations.”


“We’re trying to revolutionize the way films are financed,” said Woodrow. “Hollywood is relationship driven and what we bring to the equation is the ability to gain access to the highest levels of film finance.” He adds that the films will include “A-list movie stars, top-tier directors, seasoned and established producers,” but “declined to name the movies being considered for the portfolio.”

Woodrow’s background is in financing, as former managing director at “Prospect Point Capital, which invested in venture capital deals in the entertainment industry” and experience in investment banking at Citigroup, Oppenheimer & Co. and CIBC World Markets.

He is also not the only one interested in bringing blockchain to Hollywood: “Flixxo wants to create a decentralized video sharing network akin to YouTube funded through its token,” and Bjork stated she will accept “Bitcoin and other cryptocurrencies as payment for her most recent album, and along with any purchase, she’ll give away AudioCoins, a cryptocurrency to be used on a decentralized music streaming platform that rewards fans and artists.”

Although “crypto fever has spurred comparisons to the infamous Dutch tulip bulb mania of the 17th century, where prices surged before collapsing.” Woodrow (who was also executive producer of “Tulip Fever”) reports that MovieCoin will be issued “on top of Bankex, a platform for asset-based tokens,” thus “underpinning our cryptocurrency with tangible assets.”

No Comments Yet

You can be the first to comment!

Sorry, comments for this entry are closed at this time.