Have you ever dreamed about becoming a movie investor and driving around Hollywood with a vanity license plate that spelled Executive Producer? Well that is still far off for most of us but at least now we have an easy way to help produce an independent film and get a cut of the profits.
The Pitts Circus is an Ethereum funded movie and its hybrid smart contract tradable shares will enter the second phase of their ICO (initial coin offering) on march 20th 2017. The shooting of the film already started in Australia in January, and the crew says they will be shooting in Switzerland later in 2017.
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The token is not just a crowdfunding-trading-token – it entitles holders to receive 75% of the project’s net profit over twenty years. Meaning that investors will not only potentially receive a ROI (return on investment) during the next two decades but they can also trade their shares on exchanges and speculate on future development of the price. The movie digital asset can be traded on two crypto exchanges on the Ethereum blockchain already. The two exchanges that have listed the coin as of now are: idex.market and EtherDelta.
All shareholders that bought into the original hybrid smart contract received bonus coins for their early support in phase one. The remaining shares will be sold through the initial coin offering in phase two. Additionally, mainstream users will receive the coins at their full price when they buy a ticket for the movie.