A Hollywood producer will launch a token for movie projects after raising 100 million Dollars!
Proxima Media, founded by Ryan Kavanaugh, a well-known Hollywood producer and Warner Bros executive, has revealed its intention to launch a security token focused on financing media projects, after raising $100 million.
Called Proxicoin, the token will serve as a crypto tool for financing film, television and music projects.
In a statement, Kavanaugh’s signature revealed that Proxicoin had been developed on the Ethereum platform and had already been audited.
Proxima Media said it was enough for it to sign a contract with Fusang Exchange, a Malaysia-based blockchain company, to launch the asset later this year. The Blockchain project was supported by the Hong Kong-based Central Wealth Group and Step Ventures, an Israeli venture capital fund.
On the occasion of this announcement, Vincent Tse, CEO of Step Ventures, said:
Proxi coin puts a much sought-after financial product at the disposal of many investors, individuals or small.
Trading platform for entertainment projects.
Tse claimed that movies and other productions in the television industry are not tied to fixed assets, making them attractive to large hedge funds and financial companies around the world.
In this sense, Proxicoin users will also receive the right to be partial owners of Entertainment Stock X (ESX), a stock exchange-like trading platform that seeks to stimulate individual projects in the entertainment industry through an initial public offer.
Currently, offers related to 30 movies are being activated, according to the latest statements from Kavanaugh, who also said that the exchange platform would give customers around the world exclusive access to movies and productions of great original value, which was not possible until now in the movie industry.
More info about the crypto movie project: https://proxicoin.com.
