Vulture Capital, a cryptocurrency token built upon Ethereum, is granting token holders access to a section of their website that’s not granted to the public.
Earlier this month, Hedley Productions began a crowdfunding campaign to raise funds for the upcoming film, Listen Carefully. Their intention is to bring cryptocurrency into the limelight by becoming the first film to be funded by cryptocurrencies.
The crowd sale, however, is not focused solely on funding a film. According to Benjamin Padua, President and Producer with Hedley Productions, the campaign will allow other entertainment projects to receive funding using Ether. He hopes the company will prosper in the future with the adoption of the blockchain.
The campaign guarantees VCAP token holders and other investors a possible profit due to the revenue gained upon release, and their name slotted at the end of the film in the credits. Padua also notes that these investors will gain additional benefits.
“Our token holders aren’t just funders, they’re choosing the content. Our next project is going to be greenlit by token holders. Obviously, we want the company to become big a profitable, but we want our contact with token holders to remain personal and community oriented. We’d like to make you and us studio-sized money, but without sacrificing our love of film. By being funded by the viewers themselves, we’re counting on them to keep us creative and daring.”
The minimum of the crowd sale is listed at 45,000 ETH, though Hedley quoted the budget for the film at $3.5 million. Participants in the crowd sale will also get the chance to give a voice to independent filmmakers who cannot get funding through major studios. Therefore, crowdfunding with cryptocurrency will certainly increase the production of independent films. Token holders will also be granted access to a section on the website that’s not publicly accessible. These token holders will be able to stream exclusive content and help influence the future of cryptocurrency.
Listen Carefully is slated to begin filming this fall, with the release scheduled for summer 2017. There is still a chance to participate, those interested can purchase tokens using ETH, BTC, or BLK.