Overstock subsidiary tZERO has just announced it will be partnering with BLOQ FLIX, a financial entertainment company. Together the two will be responsible for tokenizing assets in this industry.
tZERO is no stranger to the entertainment industry and now they are taking it a step further. The security token platform is partnering with BLOQ FLIX, a company which has collectively managed over $100M in funds for the entertainment industry.
The fund has been responsible for bankrolling films starring Keanu Reeves Liam Neeson, Josh Brolin, Bruce Willis, Sylvester Stallone and Kevin Spacey among others. Overall, BLOQ FLIX is involved in film, television, streaming sites, and other media sectors.
According to BLOQ FLIX CEO, Brandon Hogan:
“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.”
tZERO plans to tokenize some of the assets to allow everyday investors put their money into projects they like in the entertainment world. This would effectively ‘decentralize’ who could be a co-producer in the film industry.
Last month, tZERO opened its doors to retail investors. The security token platform boasts a mobile trading app and a stand-alone wallet.
Do you believe security tokens could have a significant impact on the entertainment business? Let us know your thoughts in the comments down below.
Image courtesy of tZERO.