Russian cinema goes crypto

Konstantin Khabensky, a famous Russian actor and director, has teamed up with Ilya Zibarev, the ex-chairman of the bank Russian standard, and Nick Evdokimov, the founder of ICOBox, an ICO suport service provider, to launch Cinematix.

The news was reported last week by Russian business daily Kommersant.

Touted as “the world’s first platform for mass-producing ICOs for movies,” Cinematix will “allow filmmakers in Russia, the US and Asia to obtain funding in just two clicks.”

Anyone will be able to support a movie through buying the Cinematix tokens, dubbed ‘CINX.’ Shooting will start once the soft cap is reached. If the project is profitable, its investors will be entitled to receive a fraction of the revenues. In case it fails, all the money will be returned to the backers, says Cinematix.

The startup hopes to raise “some $15-20 million” through an upcoming ICO. The campaign will start this summer and will last till September. The founders claim to have already  put $1.5 million in the project.

As of today, 2 out of 15 projects have already been selected to be represented at the platform.

Meanwhile, another Russian actor and director, Fedor Bondarchuk, has announced a similar project. Dubbed ‘Cinemico,’ this crowdfunding Blockchain-powered platform will contribute to finance sequels of popular Russian movies.

According to Kommersant, which cites exchanges “with a source close to the matter,” the platform is being supported by three main investors: Leonid Boguslavsky, the founder ru-Net, a major Russian VC fund and the 77th richest businessman in Russia according to Forbes; Alexander Chistyakov, executive chairman at Ruspetro; and business angel Mikhail Kurbatov.

Source: Kommersant

See the full scoop over at East-West Digital News: https://ctrlshift.co/2018/06/11/russian-cinema-goes-crypto/