Crowdfunding Hollywood? Regulation Isn’t Making it Easy for ICO Projects

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When first contacting CoinDesk, the team behind a movie called “Braid” had big news to share.

Unlike your traditional crowdfunding model, used by the likes of Kickstarter or Indiegogo, the goal of the project was to let a global pool of buyers both crowdfund and profit from the movie. Among the tools at their disposal were ethereum, a global blockchain platform, and WeiFund, a new crowdfunding platform built on top of this emerging technology.

Mitzi Peirone, the director of Braid, heralded the solution as one that would make crowdfunded movies – by the fans, for the fans – more democratic.

“A Kickstarter movie could go on to make millions of dollars and the people that gave money in the first place wouldn’t see a return,” she said.

Further, there were implications for the blockchain sector and its practices.

According to advisor Dino Mark Angaritis, the token was to be unique – not only in that it represented a stake in a movie, but that it was to be the first one issued by a US company in “full legal compliance with applicable regulations”.

At a time when regulations surrounding popular blockchain platforms like bitcoin and ethereum are still murky, the

Read more ... source: CoinDesk

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