tZERO has agreed to tokenize blockchain entertainment company BLOQ FLIX’s finance options for the entertainment business. These offerings will use tZERO’s tokenization protocol technology and their placement will be in the hands of JumpStart Securities.
BLOQ FLIX provides financing solutions to fund the production of feature films, television programming, and digital/online content, with a track record of 30 entertainment projects co-financed.
Using blockchain, BLOQ FLIX specializes in content for the ever-growing market of distribution platforms. The firm’s co-founders, Brandon Hogan and Jonathan Helmuth, have collectively raised and managed over $100 million of production funds and have been involved in different capacities on over 150 entertainment projects.
Saum Noursalehi, Chief Executive Officer at tZERO, commented: “We are thrilled to partner with the BLOQ FLIX team to bring a secure and innovative investment alternative to film financing. Our continued goal is to tokenize and trade assets that can benefit from blockchain technology, and digitizing film financing fits this model nicely.”
Brandon Hogan, CEO at BLOQ FLIX, said: “Hollywood’s entertainment finance structures need to evolve, and we want to lead this charge to disrupt traditional media financing. By embracing blockchain technology, we are streamlining the film and TV funding process and offering funding access directly to mini-major studios, producers and experienced indie producers.”
Jonathan Self, CEO at JumpStart, added: “All of us working together is a huge opportunity for both BLOQ FLIX and investors to facilitate a vision of how media could now be financed. There are enormous synergies in our solution that will enable us to drive immediate value.”
In the meantime, tZERO continues engaged with its recently launched Crypto App. which allows investors to buy, sell and hold digital currencies directly on their mobile phone through the tZERO Crypto App, rather than using third-party exchanges for custody. The digital wallet and exchange services app for cryptocurrencies is tZERO’s most recent product as the blockchain-powered technology firm strives to revolutionize Wall Street in order to bolster and enhance market integrity. The firm’s digital securities trading platform is designed to enable private resale transactions to accredited investors, consistent with U.S. securities law.
In late 2017, tZERO’s first-ever preferred equity security token sale attracted overwhelming cryptocurrency and traditional institutional interest, reaching over $100 million USD in commitments from investors in the first 12 hours. Over 10,000 subscribers registered for accreditation ahead of the token sale.