Dr, Wesley Snipes, who is a renowned Hollywood actor, has partnered with Liechtenstein Crypto assets Exchange in tokenizing a movie fund. The news was aired on September 9 by Cointelegraph.
Tokenized Movie Fund
LCX has also announced that they will invest in upcoming TV shows that are produced by Wesley and his studio Maandi House. It is indeed the first time that LCX has enabled movie enthusiasts to support Hollywood producers and icons.
The ultimate goal is to have a fully tokenized and improved security through the LCX’s platform and of course, the blockchain infrastructure for Liechtenstein. This security token will, therefore, reduce the barriers to entry, thereby allowing a bigger audience of retail and institutional investors to grab the opportunity.
The tokenized fund is expected to be managed by a committee that comprises of DR. Snipes and other professional fund managers. It will be used to stipulate production budgets to productions from future motion pictures and other Hollywood producers. The blockchain technology from LCX’s platform will take care of the identification and registration of investors.
The platform will also be the central hub for the security fund. This token is going to benefit investors from the profits of productions. They will also get additional benefits such as invites to movie premiere events. Some of the profits will be plowed back to the token to ensure sustainability and long-term goals.
Silver Screen Meets Cryptocurrency
Dr. Wesley has joined the few celebrities who utilized cryptocurrency as a way to produce their films. Johnny Depp, a movie director, actor, and producer partnered with TaTaTu which is a crypto-powered entertainment platform in the production of his movies and content.
About Wesley Snipes
Wesley is a film producer, an author, an American actor, and a master martial artist. He is famously known because of the Blade film trilogy where he played like a Marvel comic character Blade. He also featured in films such as White Men Can’t Jump, Demolition Man, Passenger 57, and Major League.
Snipes has also featured in the Dolemite Is My Name movie by Eddie Murphy, and they will soon have a project together in Coming To America.