Fedor Bondarchuk is launching a blockchain-based platform Cinemico

Producer Fyodor Bondarchuk launches blockchain crowdfunding platform Cinemico to raise funds for investment in film production.

The platform will allow you to interact with film producers and producers with investors, as well as provide spectators an opportunity to act as co-investors movie.

The company, which will cooperate with the Cinemico, passes the draft law (or part thereof) for the next film, and investors to invest in the project, instead of receiving tokens (the digital equivalent to part of the rights to the film).

«If the movie brings in rental profit, it is distributed among token holders in accordance with the size of the investment. If the film fails, the investment will return to the depositor – these risks are insured international insurance company. If necessary for the film to collect the amount of fails, funds are returned to the investors»,– stated in the project description.

Initially, the platform will give preference to the projects of large companies, where there is already a 50% of the budget and the script ready is the sequels of popular films: for them it is easier to calculate cash collections and profit.

The presentation will take place on 7 June at the festival «Kinotavr» in Sochi.

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