The Ethereum blockchain is moving forward into the film industry as the hybrid smart contract of the first ethereum-funded movie gives away free tradable shares to early investors and nears phase 2 of its ICO. ‘Ethereum Movie Venture’ – EMV is a decentralised movie-investment platform designed for investing in the independent movie industry. The initial film, produced by a Swiss company, ‘The Pitts Circus’ follows the journey of a four-person strong circus family from their home to a circus festival in an isolated part of Western Australia.
With the second phase of its ICO beginning on 20th March 2017, investors can purchase the Ethereum blockchain-based coin called EMV coin. The coins that represent the shares are ERC-20 certified Ethereum tokens. The contract and the coins can be inspected on blockchain and prediction markets such as Augur list bets on the price – development of EMV over various timescales.
In this second phase, the price of the EMV coins will rise every week for 2 months, after which the remaining coins will be distributed to all customers that buy an online movie ticket before December 31st 2017. This style was chosen by scenic Swisscoast GmbH to create a trade-off between early investment from the crypto-community and mainstream users, resulting in the average person have more motivation to access a well distributed coin if the initial phase sees the majority of the tokens sold; or conversely, if the majority of EMV coins are left after the phase 2 ICO, users will have access to a larger pot of EMV coins that are carried over into phase 3.
Investors stand to receive ROI – 75% of the projects net profit – during the next 20 years in addition to being able to trade their shares on exchanges and bet on future development of the price. The movie ‘The Pitts Circus’ is already available to be traded on exchanges on the Ehereum blockchain, being listed on idex.market and EtherDelta. All shareholders that bought into the original hybrid smart contract receive coins with additional bonus coins for their early support in phase 1. Mainstream users will receive the coins at their full price when they buy a ticket for the movie.