tZERO announced it has partnered with BLOQ FLIX, the first blockchain entertainment financing company, to provide technology services to tokenize BLOQ FLIX’s finance options. JumpStart Securities is serving as the placement agent for the offerings.
“We are thrilled to partner with the BLOQ FLIX team to bring a secure and innovative investment alternative to film financing. Our continued goal is to tokenize and trade assets that can benefit from blockchain technology, and digitizing film financing fits this model nicely,” tZERO CEO Saum Noursalehi said in a press release.
BLOQ FLIX CEO Brandon Hogan added, “Hollywood’s entertainment finance structures need to evolve, and we want to lead this charge to disrupt traditional media financing. By embracing blockchain technology, we are streamlining the film and TV funding process and offering funding access directly to mini-major studios, producers and experienced indie producers.”
In other news, the largest bank in Russia has acquired around $15 million worth of accounts receivable from Singapore-based commodity trading firm Trafigura via blockchain.
“Our blockchain pilot project records every step of the transaction: request for purchase of accounts receivable, application processing and its approval with the bank, issuing the bank’s offer, confirmation of terms by Trafigura, and settlement of the transaction,” Sberbank’s first deputy chairman Alexander Vedyakhin said.
The offering is open to investors from across the globe through the exchange’s own portal, as well as through collaborations with U.S. broker-dealer Jumpstart, U.S. custodian Prime Trust and London based blockchain provider Globacap. MERJ is issuing 1,652,893 new shares at a price of $2.42 per share, raising $4 million of expansion capital.