Today we are happy to announce the invited launch of the Lovingood Filmfund TIX Crowdsale, a cryptocurrency dedicated to providing self-sustainability to the movie industry, putting the power back into the hands of the fans. In a Walt Disney-style effort that could change the movie industry as we know it, Filmfund.io, the first cryptocurrency-backed movie crowdfunding platform is announcing the launch of the TIX bitcoin crowdsale to raise 3,000 BTC. The funds will be used to jumpstart operations and establish the first-ever Bitcoin Trailer Fund (BTF). The BTF awards filmmakers with bitcoin toward trailer production for campaigns on the Lovingood Filmfund crowdfunding platform. Upon successful funding of its 3,000BTC crowdsale, Lovingood Filmfund will award 12 filmmakers with 50BTC to launch campaigns toward the studio’s first online movie distribution slate.
Lovingood Filmfund (filmfund.io) is a new entertainment crowdfunding and distribution platform that uses a crypto-token system (TIX) to enable filmmakers to sell digital presale tickets to their film to fans and investors before it’s made. Once the pre-determined ticket sale goal is met, the filmmaker now has the budget to produce their movie without the stress of having investors to pay back. Once the movie is ready for release, the film has built-in distribution through the Lovingood Filmclub platform and a group of fans ready to spread the word. Presale ticket holders can either use their TIX to watch a movie on the platform (and see their name in the credits) or sell their tickets on the TIX exchange to another moviegoer for a fixed retail price and make a small return.
The crowdsale is an exciting way to get your hands on the currency before the general public. 100,000 ETIX will be sold at .02BTC/TIX (that’s about $4.60/ticket at bitcoin’s current price) and 1,000 VIPTIX at 1BTC/TIX ($230/VIPTIX). Besides getting your name in the credits of every movie funded through the first slate, you’ll have the opportunity to sell your tickets to other moviegoers at release for $7/ETIX and $500/VIPTIX, effectively producing a healthy ROI on every ticket you are able to sell (after fees) without having to own one ounce of equity in any specific film and the risk that comes along with it. Keep in mind that the success and the popularity of the movie you decide to sell your tickets to, will ultimately determine how long it will take you to unload your extra tickets. Movies will debut on the Lovingood Filmclub platform, where fans can buy tickets and ticketholders can watch new and catalogued films. Lovingood Studios projects the release of 25 movies by Year 2 and between 50-100 movies/year starting Year 3 and beyond. This means there will be numerous opportunities for ticketholders to sell their excess tickets, creating an exciting investment opportunity for individuals who want to get into movie investing through a new and innovative online platform. Of course, there are risks involved in this model, but they are substantially mitigated when compared to the billion-dollar-box producing model of the past hundred years. Lovingood Studios believes that the first online billion-dollar box will hit in the next 2 years, and intends to be on of the studios to take the industry there.
About Lovingood Studios
Founded by Marcus and Mark Lovingood and joined by Oscar-winning Hollywood producer Brad Wyman, Lovingood Studios (Filmfund.io/Filmclub.io) is an all-in-one film crowdfunding and distribution platform, creating a new and exciting model for filmmakers of all shapes and sizes. This gives filmmakers looking to bypass the high-barrier studio industry a self-sustainable option and provides the power of the Internet to drive successful box-office sales online. Lovingood and Wyman have a list of high-profile industry producers and directors (XMEN, Off Their Rockers, Dark Knight) to collaborate and launch Filmfund campaigns with, creating star-studded movie slates that will entice audiences across the world.
About the Crowdsale
The Lovingood Studios team is launching its crowdsale on September 25th, 2015 to bitcoin enthusiasts who would like to get their hands on the TIX currency and be the first to experience this new revolution in film finance. The studio is partnering with Coinprism to handle the crowdsale and distribution of the entertainment-backed currency. 100,000 ETIX can be purchased for $4.60/TIX (.02BTC) starting at 00:00:01 on Friday, September 25th, 2015 until 00:00:00 on Sunday, October 25th, 2015. 1,000 VIPTIX can be purchased for $230/TIX (1BTC) starting at 00:00:01 on Thursday, October 15th, 2015 until 00:00:00 on Sunday, November 15th, 2015. A select number of bitcoin enthusiasts will be invited to the invite-only beta launch on Thursday, September 24th, 2015. ZapChain is hosting an exclusive Q&A with Marcus Lovingood and team at 11AM on Friday. For more information on being part of the launch, sign up at www.filmclub.io