Film Producer Raises $100 Million to Launch a Security Token
- The ERC20 token will hit the market in late 2019.

Proxima Media, a company founded by Hollywood movie producer Ryan Kavanaugh, on Thursday announced that it has raised $100 million to launch a security token.
The funding came from two venture capitals - Hong Kong-based Central Wealth Investment Fund and Step Ventures.
Dubbed Proxicoin, the digital coin will act as a fundraising tool for media projects including film, TV, music, and other intellectual property-driven content.
“Film, as an asset class, is traditionally uncorrelated to capital markets and has been a competitive and sought-after asset class among the large hedge funds and banks including Citibank, Deutsche Bank, JP Morgan, Goldman Sachs, and many others. During the Great Depression, one of the only stocks that went up was MGM.”
The company has already developed the ERC20 token and has inked a deal with Malaysia-based Fusang Exchange for a late 2019 listing. In addition, Proxima says that the token has been “fully audited.”
Bringing entertainment to blockchain
As Proxicoin falls under the category of securities, the company clarified that token holders would also partially own a Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term called Entertainment Stock X (ESX), which the media company is planning to build to allow individual film and television projects to raise funds via initial public offerings (ICOs).
“ESX currently has deals for listings on over 30 major feature film projects and is expected to have a significant share of the 600 major films and television shows shot annually,” the announcement stated.
“Proxicoin and this transaction eliminate many of the hurdles that have held back growth between the two countries [China and the USA] due to heavy restrictions in currency conversion,” Kavanaugh added.
Kavanaugh also works as an executive producer at Warner Brothers and produced renowned movies including The Social Network, 3:10 to Yuma, and Mamma Mia!.
Proxima Media, a company founded by Hollywood movie producer Ryan Kavanaugh, on Thursday announced that it has raised $100 million to launch a security token.
The funding came from two venture capitals - Hong Kong-based Central Wealth Investment Fund and Step Ventures.
Dubbed Proxicoin, the digital coin will act as a fundraising tool for media projects including film, TV, music, and other intellectual property-driven content.
“Film, as an asset class, is traditionally uncorrelated to capital markets and has been a competitive and sought-after asset class among the large hedge funds and banks including Citibank, Deutsche Bank, JP Morgan, Goldman Sachs, and many others. During the Great Depression, one of the only stocks that went up was MGM.”
The company has already developed the ERC20 token and has inked a deal with Malaysia-based Fusang Exchange for a late 2019 listing. In addition, Proxima says that the token has been “fully audited.”
Bringing entertainment to blockchain
As Proxicoin falls under the category of securities, the company clarified that token holders would also partially own a Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term called Entertainment Stock X (ESX), which the media company is planning to build to allow individual film and television projects to raise funds via initial public offerings (ICOs).
“ESX currently has deals for listings on over 30 major feature film projects and is expected to have a significant share of the 600 major films and television shows shot annually,” the announcement stated.
“Proxicoin and this transaction eliminate many of the hurdles that have held back growth between the two countries [China and the USA] due to heavy restrictions in currency conversion,” Kavanaugh added.
Kavanaugh also works as an executive producer at Warner Brothers and produced renowned movies including The Social Network, 3:10 to Yuma, and Mamma Mia!.