{"id":16760,"date":"2024-09-06T17:13:19","date_gmt":"2024-09-06T14:13:19","guid":{"rendered":"https:\/\/forklog.com\/en\/pressman-film-to-raise-funds-via-avalanche-platform\/"},"modified":"2024-09-06T17:13:19","modified_gmt":"2024-09-06T14:13:19","slug":"pressman-film-to-raise-funds-via-avalanche-platform","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/pressman-film-to-raise-funds-via-avalanche-platform\/","title":{"rendered":"Pressman Film to Raise Funds via Avalanche Platform"},"content":{"rendered":"<p>Pressman Film, renowned for producing &#8220;Wall Street&#8221; and &#8220;American Psycho,&#8221; is set to launch a tokenized fund to finance new projects through the Republic platform on the Avalanche network.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Lights, camera, ACTION ? Avalanche is transforming independent film financing!<a href=\"https:\/\/twitter.com\/PRESSMANFILM?ref_src=twsrc%5Etfw\">@PRESSMANFILM<\/a>, the production company behind \u201cWall Street,\u201d \u201cAmerican Psycho,\u201d and \u201cThe Crow,\u201d teamed up with <a href=\"https:\/\/twitter.com\/joinrepublic?ref_src=twsrc%5Etfw\">@joinrepublic<\/a> to raise funds for a development slate of six Pressman films, tokenized on\u2026 <a href=\"https:\/\/t.co\/fG984GWgLL\">pic.twitter.com\/fG984GWgLL<\/a><\/p>\n<p>\u2014 Avalanche ? (@avax) <a href=\"https:\/\/twitter.com\/avax\/status\/1831703626521432466?ref_src=twsrc%5Etfw\">September 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Asset purchasers will have the opportunity to co-own six films: three based on existing intellectual property and the rest on original scripts, according to <a href=\"https:\/\/decrypt.co\/248118\/wall-street-american-psycho-studio-raising-film-funding-avalanche\">Decrypt<\/a>.<\/p>\n<p>Major holders are offered privileges such as set visits and premiere tickets.<\/p>\n<p>Funds from retail crypto investors could diversify funding sources and reduce risks for producers.<\/p>\n<p>Token purchases start at $200.<\/p>\n<p>Profit-sharing will occur only if one or more films transition from development to production. Payments are made in fiat, with blockchain used on the <span data-descr=\"platform's backend logic, hidden from the user\" class=\"old_tooltip\">backend<\/span>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cAs the entertainment market undergoes unprecedented changes, it is clear that the time has come for innovative financing methods,\u201d<\/em> commented Pressman Film owner Sam Pressman.<\/p>\n<\/blockquote>\n<p>At the time of writing, the fund had raised $314,000 of its $1.5 million target.<\/p>\n<p>The publication noted that Pressman Film circumvented potential regulatory challenges regarding tokens as investment contracts by involving Republic.<\/p>\n<p>The Morgan Stanley-backed platform is registered with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>. It has conducted crowdfunding campaigns for other organizations, including producers of &#8220;The Walking Dead&#8221; series.<\/p>\n<p>In October 2022, Warner Bros. launched the Web3 initiative WB Movieverse, opening NFT trading for &#8220;The Lord of the Rings: The Fellowship of the Ring.&#8221;<\/p>\n<p>In 2023, ForkLog reported on plans by &#8220;The Wolf of Wall Street&#8221; producers to release a collection of non-fungible tokens.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pressman Film, renowned for producing &#8220;Wall Street&#8221; and &#8220;American Psycho,&#8221; is set to launch a tokenized fund to finance new projects through the Republic platform on the Avalanche network. Lights, camera, ACTION ? Avalanche is transforming independent film financing!@PRESSMANFILM, the production company behind \u201cWall Street,\u201d \u201cAmerican Psycho,\u201d and \u201cThe Crow,\u201d teamed up with @joinrepublic to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1282,1413,1331],"class_list":["post-16760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-asset-tokenization","tag-avalanche-avax","tag-culture-and-art"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16760"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16759"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}