The global cinema industry has thus far not been affected by the blockchain, despite the many benefits that it holds.
What Is Reanimator?
Reanimator is an Ethereum-based project that aims to create an online platform that will be called Cryptomovie. The platform will have a blockchain-based automated system for selling movies. The aim is to eliminate box office fraud that exists in the current setup.
Issues Reanimator Seeks To Solve
The global cinema sector has long struggled with a lack of transparency in the area of box office revenues. Most of the revenue usually goes to cinema chains and intermediaries. In Russia, this share is about 50-60% of all revenue. In the US and Europe, this accounts for about 30-45%. In China, the figure stands at a solid 50%.
However, the issue is bigger. Cinema chains and private movie theaters often hide the real figures, reporting lower numbers. This is because the storage of data is often centralized. In China, this has necessitated the passing of laws, which punish cinema owners that provide false data.
Getting the exact data on box office revenue is important for understanding the real size of the Chinese cinema industry. The Reanimator project is going to ensure that box office revenue for all films in any cinema globally can be accessed in a transparent manner. This will all be made possible by the Cryptomovie platform.
The developers of this project have more than 12 years of experience in the movie sector. Their partnership with blockchain experts will enable them to create a platform with unmatched potential in the movie sector.
How Reanimator Blockchain Cinema Coin Will Work
Cryptomovie will be tested using online integration of an API with ticket sales systems in 12 EU cinemas. This will take place in the spring of 2019. To test the beta version of the Cryptomovie platform, developers plan to use an original Sci-Fi film called Reanimator. The film is an original production by LA Film Company. To make the film, they will utilize funds from the presale that took place between November and December 2017.
To ensure good numbers at the box office, this film will use an original plot and amazing effects. This will be made possible by the London-based ILM studio. It is the same studio that has worked on the Iron Man and Star Wars franchises.
During the presale, the Reanimator project managed to raise $2,673,249. These funds will suffice to create the film. The next round of funding is expected to provide the funds needed to market the Cryptomovie platform.
After testing is done, the Cryptomovie platform will be sold to China Film Group for 5 years. In exchange, the platform will get 2% of all box office revenue from China between 2019 and 2024. With the box office sector raking in hundreds of millions of dollars, this is going to be a lucrative deal.
Reanimator RMN Token ICO Details
- Token Name: RNM
- Token type: ERC20 tokens
- Start: May 4, 2018
- End: June 4, 2018
- Tokens for Sale: 5,000,000 RNM tokens
- Total tokens: 10 million RNM tokens