Finfabrik and Lumiere Tokenised Co-Investment into Algerian Indie Filmby Fintech News Hong Kong September 13, 2019
Lumiere and FinFabrik have joined forces bringing their business and technical expertise together to tokenise a co-investment into a film titled ‘Papicha’.
By having their equity participation digitalised, investors will have the opportunity in the future to transfer or sell it to other investors who want to have access to an alternative asset.
‘Papicha’ is a progressive film directed by Mounia Meddour, produced by Xavier Gens and Gregoire Gensollen from The Ink Connection, and Patrick Andre from High Sea Productions, and distributed worldwide by Jour2Fête; it premiered in Cannes earlier this year and has been selected to represent Algeria for the Best International Feature Film at the Oscars.
Patrice Poujol, Founder and CEO of Lumiere, also the author of the book ‘Online Film Production in China Using Blockchain and SmartContracts’ said,
“The film industry needs more than ever a revival of creativity, and this revival can only be embraced through openness and diversity, it also means that the entire funding and production model should be transformed if it is to survive. The film industry is century old and has gone through many technological transformations. This time with the rise of blockchain, we are privileged to witness this flourishing moment in film history –independent filmmakers can see new gates opening to finance and produce their films.”
Alex Medana, Co-founder and CEO of FinFabrik said,
“FinFabrik is about reinventing capital markets and bringing finance to everyone. We are humbled to bring forward our experience and our distributed ledger technology (DLT) based asset tokenisation platform CrossPool to co-create with Lumiere a new way to invest into movies, that will lead to more transparency, security and efficiency gains.”
Featured image: Papicha Poster