Blockchain Disruption Reaches Hollywood amid Startup’s $100M Funding
By CCN: Proxicoin is a way for the ordinary blockchain investor to get a piece of Hollywood’s action. It announced that it’s gotten a $100 million injection from a Hong Kong fund. Central Wealth Fund’s David Lee said his people are “impressed” with the blockchain platform, which decentralizes funding for Hollywood movies. Other investors including Coinbase are already on board.
The English-centric film market will be worth more than a trillion dollars within our lifetime. Most investors would be happy to invest in a quality film project, but access is hard.
Blockchain Startup Proxicoin Works Its Magic
Proxicoin’s purpose is to connect investors and filmmakers looking for funding. Gaining access to real studios and executives looking for funding is a difficult prospect unless you have the right connections.
Ryan Kavanaugh, who is behind Proxicoin and Proxima Media, has a history of working on major deals in Hollywood. For example, according to a press release, he’s partially to thank for the Marvel Cinematic Universe – one of the highest grossing film enterprises in history. Marvel is owned by Disney today, whose films earn more than $1.2 billion on average.
(As this reporter recently reported, qualified analysts predict that the launch of Disney’s streaming platform might disrupt Netflix out of business.)
Coinbase-Backed Startup Gets $100 Million Cash Injection
Blockchain-startup Proxicoin has already signed on a litany of investors, including Coinbase and the Maltese Government.
